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Temu, Country Road and Platypus
University degree pay gap gets smaller, Snacks are luxuries, and Year 10 students career aspirations.
Pick & Scroll News
November 20, 2023
One Read, All Perspectives
Australian News
The First Home Owner Grant in QLD has been escalated to $30,000 for new constructions until mid-2025, a move aimed to boost the housing sector for homes priced below $750,000 starting this Monday. LINK
Half of Aussies now view snacks as luxuries, curtailing purchases, while the average weekly expenditure increased by merely $1.20 since last year, reflecting a re-evaluation of spending priorities amidst surging supermarket prices. LINK
A star rating system for cybersecurity is to be launched, mandating new safety benchmarks for consumer internet-connected appliances and banning default passwords to combat potential hacking threats. LINK
Career aspirations among Year 10 students reveal gender disparity, with 80% of girls leaning towards university education and health professions, contrasting boys who favour trades, as per a nationwide survey. LINK
Income advantage from university degrees witnessed a decline, especially for those with higher qualifications, indicating a diminishing financial incentive from tertiary education, albeit still portraying a notable earning difference favoring degree holders. LINK
Super funds engage in spending spree to boost customer service amidst governmental and regulatory warnings against poor standards in the $3.5T sector. LINK
Company News
OpenAI investors rally to reinstate Sam Altman as CEO following his dismissal. LINK
China's Temu rapidly gains traction among Australian bargain shoppers, overtaking local platforms like Kogan, Catch, and MyDeal within six months of its launch in the nation. LINK
Hollywood shifts towards product movies like Barbie and Mario Bros. LINK
Optus' appearance before senators reveals lack of a contingency plan during a network outage, with 228 triple-zero calls failing during the 14-hour disruption. LINK
AMP Bank raises interest rates beyond the RBA's cash rate rise for existing customers to combat dwindling profit margins on home loans. LINK
Country Road Group experiences a 10.7% sales slump due to grim retail conditions, contrasting the prior 12.4% sales growth during fiscal 2023. LINK
Accent Group, owner of Athletes Foot, Hype and Platypus sees wholesale sales drop and reflecting softer consumer demand. LINK
Estée Lauder anticipates a sales decline in Australia for high-end products due to rising interest rates compelling shoppers to opt for cheaper alternatives. LINK
Optus CEO Kelly Bayer Rosmarin contemplates resignation amidst back-to-back crises within Australia's second-largest telecommunications group. LINK
IBM withdraws advertisements on X following Elon Musk's endorsement of an antisemitic post, evoking concerns among advertisers. LINK
UK supermarket chain Booths removes self-service checkouts, opting for staffed check-outs to enhance customer service, a move not foreseen to be mirrored in Australia. LINK
Apple announces adoption of RCS messaging standard in 2024 to enhance cross-platform messaging, following a lengthy promotional effort by Google. LINK
Other News
Mangoes from the Northern Territory reach Los Angeles, retailing at US$8.99 each, spotlighting the increasing US demand for mangoes with imports of 556,000 tonnes last year. LINK
NRL clubs reject Australian Rugby League Commission's proposal for gender and diversity quotas on boards and executive positions, citing potential contentious member votes. LINK