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🗞️ The Oracle of Omaha
The Oracle of Omaha, Warren Buffett, has announced he is stepping down as leader of Berkshire Hathaway.
Pick & Scroll News
May 06, 2025
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Good morning. The Oracle of Omaha, Warren Buffett, has announced he is stepping down as leader of Berkshire Hathaway.
Buffett took over a struggling textile company and transformed it into a conglomerate of businesses worth over a trillion dollars.
Greg Abel, his successor, who found out the news at the same time as everyone else, will have a ~$350 billion cash pile at his fingertips. Where would you even start with that much money?
All the headlines and more below...
AUSTRALIAN NEWS
More Australians are purchasing home brand products as the cost of living increases. LINK
Chocolate is getting more expensive, but companies are willing to bet Australians will keep paying for it. LINK
Australian defence tech start-ups are targeting Europe's €800B ReArm Plan. LINK
The Labor Party spent $24M in video advertising for the election. LINK
Peter Dutton, the former leader of the opposition, loses his seat of Dickson to Labor’s Ali France. LINK
A record-breaking number of women are set to enter Australian parliament. LINK
New Aussie invention set to halt spread of invasive predators. LINK
Microsoft Copilot and Google Gemini have become routine workplace tools alongside Canva and Adobe in Australian offices. LINK
Australia has become the second hottest data centre investment market in the world, with the global industry projected to reach $US4 trillion ($6.7 trillion) in value by 2030. LINK
GLOBAL NEWS
Trump orders 100% tariff on foreign-made movies to save 'dying' Hollywood
Trump orders 100% tariff on foreign-made movies to save 'dying' Hollywood. LINK
COMPANY NEWS
ASIC hires a psychologist to help whistleblowers stay the course
ASIC has hired a psychologist to support whistleblowers after an internal review revealed automated complaint processes left them unsupported. LINK
Netflix generated $1.3B in Australian revenue for the past year, up nearly 18% from $1.1B the previous year. LINK
ABC dominated election night coverage with 2.4 million viewers LINK
Endeavour Group reported 3.1% fall in retail liquor sales to $2.33B while hotel sales rose 5.1%, resulting in 1.7% overall revenue decline as alcohol demand weakens. LINK
Westpac has reported declining mortgage delinquencies while half-year profits dipped to $3.3B. LINK
Tesla's Australian vehicle sales dropped 76% in April as BYD outsold them by delivering 3,207 cars including 1,293 Shark utes. LINK
Eucalyptus has cut its unprofitable fertility and skincare lines whilst laying off 10 staff to focus on Wegovy sales after raising $150M since 2019. LINK
Qantas has improved its profitability outlook as falling oil prices ease its FY24 fuel expenses of $5.32B. LINK
Tasmanian builder Incat launches world’s largest 100% electric ship. LINK
CHART OF THE DAY
Coles grocery inflation steady
ONE MORE SCROLL
Editor’s Pick: The 20 settings you need to change on your iPhone.
Draft Pick: Aussie F1 star Jack Doohan brutally sacked on the spot.
Odd Pick: Animals have accents.
TOGETHER WITH
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TRIVIA
On this day in in 1954, the first sub-four-minute mile was run by Roger Bannister, breaking the barrier in a time of 3:59.4. We delve into the mile for our trivia today:
How many metres are in a mile (we'll give you a point to the nearest 100m)?
What country was Roger Bannister from?
Which of the following countries does not use miles on their road signs: USA, England, Canada?
In what year did the mile race change to 1500m at the Olympics: 1904, 1932, 1976 or the mile was never an event?
Which Australian has the fastest mile time?
Answers below
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ANSWERS
1. 1609 metres (a point for 1600m)
2. England
3. Canada
4. The mile was never an event
5. Craig Motram
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