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Tax-Deductible Gyms, ChatGPT and Cow Flu
Apartment values are outpacing house prices, Australia partners with Germany, and The construction industry a 32% spike in insolvencies.
Pick & Scroll News
April 03, 2024
One Read, All Perspectives
Australian News
The construction industry faces a 32% increase in insolvencies this year due to a "tsunami of impossible economic conditions". LINK
Perth's southern suburbs are offering the highest returns for east coast property investors, driven by a surge in investment borrowing and the area's relative affordability. LINK
Apartment values are outpacing house prices in 50% of suburbs, reflecting worsening affordability for houses and a tight supply in high-density housing. LINK
The Australian dollar weakened below US65¢ as strong US economic data reduced the likelihood of immediate interest rate cuts by the Federal Reserve and the Reserve Bank of Australia. LINK
The fitness industry proposes making corporate gym memberships tax-deductible to encourage exercise, despite it being a challenging sell to the Treasury. LINK
The RBA warns that high population growth and a preference for smaller households are fuelling home prices, potentially hindering future rate cuts. LINK
Nearly one in three new jobs created last year was related to the NDIS, masking the slowdown in other sectors such as construction and retail. LINK
Aviation firefighters plan to strike over understaffing concerns, putting school holiday flights at risk across Australia's major airports. LINK
Millions of Australians have lowered their credit card limits to cope, with the cost-of-living crisis seeing spending reaching a record high of $35.5 billion in January 2024. LINK
Australian banks are developing contingency plans with smaller couriers to ensure cash flow continuity in the event of an Armaguard collapse. LINK
Global News
Australia has solidified a $1 billion defence contract with Germany to produce over 100 armoured vehicles in Brisbane, boosting its security partnership with Europe and creating 600 jobs. LINK
Central bankers worldwide face uncertainty in monetary policy decisions due to 'unreliable' employment data, challenged by post-pandemic shifts and diminishing survey participation. LINK
Australia is projected to be the final rich nation to overcome inflation, according to The Economist's "inflation entrenchment" index, which places it above Britain and Canada. LINK
Australian authorities are monitoring a rare outbreak of avian flu in US cows, with a case already reported in Texas. LINK
The US and UK have entered into a pioneering agreement on AI safety, marking the first such bilateral initiative aimed at addressing the risks associated with advancing artificial intelligence technologies. LINK
Company News
Microsoft announced it will globally unbundle Teams from Microsoft 365 and Office 365, following a similar move in the EU, in response to antitrust scrutiny. LINK
OpenAI will make ChatGPT accessible without registration, enhancing its reach and usability. LINK
Google has agreed to delete millions of users' web-browsing data collected without their knowledge, settling a lawsuit over its "Incognito" mode tracking practices. LINK
A New York federal court declined to halt cases against OpenAI filed by authors over copyright infringement concerns. LINK
McKinsey offers UK staff nine months' pay to leave, alongside career coaching, as part of its latest effort to adjust its workforce amidst changing demand. LINK
Publishers express concerns over Meta's decision to potentially remove news content from Facebook, fearing long-term impacts on news accessibility. LINK
Rubrik, a data security company, filed for an IPO. LINK
HSBC Bank Australia was fined $33,000 for failing to provide complete and accurate home loan and credit card data under the Consumer Data Right, by the ACCC. LINK
Boeing ignored numerous warnings about safety and quality control, leading to significant corporate crises, including the 737 Max crashes and recent leadership changes. LINK
Trump Media's stock plummeted after reporting a $89M loss in 2023, highlighting the financial challenges faced by the former president's social media company. LINK
This Week’s Top Picks
14,000 (15.9%) homes bought about three years ago were sold in the December quarter, with 6.5% of these sales incurring losses on average of $30,000. LINK
National home prices reach a new record, driven by population growth, a tight rental market, and low construction rates. LINK
AI technology filters out women with career breaks, risking a wider gender pay gap, according to Nuix's CTO. LINK
A study links long-term use of certain contraceptive hormones to an increased risk of brain tumours, urging caution over their prolonged usage. LINK
Chocolate prices continue their rise due to increased cocoa and transport costs, with sustainability issues in Africa exacerbating the situation. LINK