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Weddings can be very expensive, and no one blames a couple for getting creative to save a few bucks.

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Good morning. Weddings can be very expensive, and no one blames a couple for getting creative to save a few bucks.


Dagobert Renouf went next level creativity when he decided to turn his wedding suit into a walking billboard. He managed to sell 26 sponsorships, which covered the suit cost and netted him an extra $2,000.


You can't argue with the creativity, but we have to wonder what his bride thought of the Formula 1 vibe.


All the headlines and more below...

AUSTRALIAN NEWS

Homebuyers sacrificing space to own housing

  • Australian homebuyers are downsizing or sharing homes as home-building costs have surged nearly 45% since the pandemic due to a 38% rise in material costs and labour shortages. LINK 

  • NSW is banning plastic bread tags and other hard-to-recycle items by 2030 as it aims to reduce plastic pollution and protect the environment. LINK 

  • Term deposit interest rates in Australia are now above 4% in some cases as inflation persists and expectations of rate cuts delay until 2026. LINK  

  • Australia’s tech sector lost over 30,000 jobs in FY25 as both tech and non-tech companies made cuts, marking the first decline since 2020. LINK  

  • Mortgage anxiety and financial illiteracy are stopping many Millennials and Gen Zs in Australia from accessing first-home buyer schemes. LINK  

  • Serious and organised crime has cost the Australian economy up to $82B in FY24 as $19B was linked to illicit drug activity and $8.6B to illegal commodities like tobacco. LINK 

  • Graduate salaries in Australia start at around $65,257 after one year whilst fields like mining engineering, general medicine and actuarial studies see earnings exceed $150,000 within 5 years. LINK 

  • Property investors are finding rental yields near 10% in regional and mining towns as they outperform capital city averages. LINK  

  • Older Australians face effective marginal tax rates above 77% while working on the age pension, discouraging continued workforce participation. LINK  

  • About 500,000 Australians are now using GLP-1 weight loss drugs monthly as nearly half are paying up to $600 privately. LINK  

  • Legal disputes are rising as parents attempt to protect property contributions from being split during their children’s relationship breakdowns. LINK  

GLOBAL NEWS

New Zealand mandates financial education up to Year 10

  • New Zealand will mandate financial education up to Year 10 by 2027. LINK 

  • Australian exporters are expanding in China despite global tensions as demand improves. LINK  

  • China pledged a record US$86M to Vanuatu for government projects as it counters Australia's efforts to secure a Pacific security deal. LINK  

  • VPN usage in the UK surged by up to 1,800% after the Online Safety Act introduced age verification laws for p*rnography access. LINK  

COMPANY NEWS

Amazon workers with disabilities file suit against tech giant, alleging systematic discrimination

  • Amazon is facing a proposed class-action lawsuit from 9 US employees alleging retaliation, discriminatory treatment of disabled workers and AI-driven mishandling of medical accommodations. LINK

  • Canva and other top tech firms in Australia are allegedly forcing departing workers to either accept restrictive exit terms or lose stock options. LINK 

  • McDonald’s has reported strong demand for the McWings and other chicken offerings in Australia whilst fast-food chains face rising beef and pork costs. LINK 

  • Qantas evacuated its Melbourne business lounge after a power bank exploded in a passenger’s pocket. LINK 

  • Macquarie reinstated 40 funds on its superannuation platform after backlash from fund managers and a regulatory compliance review. LINK

  • Up, the digital brand of Bendigo Bank, serves 40% of bank customers by catering to younger users with features like shared finance tools. LINK 

  • a2 Milk is investing nearly $500M into its China operations including manufacturing and distribution as it targets older demographics and mid-tier cities. LINK 

  • Uniqlo recorded nearly 20% growth in Australian revenue to $817M, outperforming rivals as it emphasised staples and slower consumption. LINK

  • Microsoft is under ACCC investigation for misleading 2.7M Australians by not clearly offering cheaper Microsoft 365 plans without AI, prompting refund action. LINK

  • Westpac will not appeal a Fair Work Commission ruling as it was found to have unreasonably denied a work-from-home request. LINK

  • Webull is launching a low-cost white label broker service in Australia to disrupt legacy firms whilst supporting independent financial advisers. LINK

  • Block failed to meet investor expectations despite achieving 18% profit growth in Q3 FY25 while its shares fell nearly 14%. LINK

  • News Corp reported stronger-than-expected Q1 results driven by Dow Jones and digital real estate as optimism builds around AI content deals. LINK

  • Qantas downgraded domestic revenue growth to 3% as it cited fuel cost volatility and reduced its capacity as domestic corporate travel demand weakens. LINK

  • Slater + Gordon reported a $24.6M net profit, a 19% rise from last year, whilst dealing with a cyberattack that exposed staff pay. LINK 

  • Meta projected that 10% of its US$24.6B revenue may come from scam and banned product ads, as it struggles to contain billions of deceptive ads daily. LINK 

  • Macquarie delivered a $1.7B half-year profit driven by retail banking growth, while tighter margins and energy impairments weighed on results. LINK 

  • Google plans to build a secretive AI data centre on Christmas Island as part of a Defence deal amid rising interest in the Indian Ocean. LINK  

  • Synchron, an Australian brain-tech firm, is developing implants to enable thought-controlled tech interaction. LINK

  • Scyne, the rebranded PwC spin-off, is struggling to win consulting deals amid backlash from the federal tax leak scandal. LINK  

  • Nine will cut an extra $10M in costs as TV ad revenue declines, reflecting reduced advertising by major companies. LINK  

CHART OF THE DAY

The media-revenue-per-viewing-hour gap is widening between men's and women's sports

ONE MORE SCROLL

Editor’s Pick: 1 in 5 high schoolers has had a romantic AI relationship, or knows someone who has.

Draft Pick: De'Andre Hunter drops Josh Giddey with nasty ankle-breaker.

Odd Pick: Tyra Banks is launching ‘hot ice cream’ and the internet is a bit cold about it.

TOGETHER WITH


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TRIVIA


We start off the week with 3 dad jokes. Can you finish the painful joke?

  1. I was at a party when a guy walked in and shouted “I’m an architect!” He really knew how to make an ‘_ _ _ _ _ _ _ _’(8).

  2. What is the difference between in-laws and outlaws? Outlaws are ‘_ _ _ _ _ _’ (6).

  3. 6:30 is my favourite time of day, ‘_ _ _ _ _ ‘(5) down.


Answers below

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ANSWERS

1. I was at a party when a guy walked in and shouted “I’m an architect!” He really knew how to make an ‘ENTRANCE’.

2. What is the difference between in-laws and outlaws? Outlaws are ‘WANTED’.

3. 6:30 is my favourite time of day, ‘HANDS’ down.


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