🗞️ Ticket scalping

Good morning. There are calls for the government to ban dynamic pricing to help consumers pay a fair price for concert tickets.

Last month, the Albanese government said it planned to change consumer laws to address the practice of inflating tickets while customers wait in online queues, after tickets for the US rock band Green Day’s Australian tour rose to as much as $500.

One of the big questions must surely be, who is paying $500 to see Green Day?

All the headlines and more below...

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AUSTRALIAN NEWS

Local concert ticketing agency calls for Albanese government to ban dynamic pricing and prosecute scalpers

• The Albanese government is urged to ban dynamic pricing and prosecute scalpers following concert ticket price concerns, as Green Day tour tickets reached $500. LINK

• Over 30% of medium and large companies lack anonymous reporting channels for workplace sexual harassment, according to the Workplace Gender Equality Agency research. LINK

• In-store retail staff remain crucial to success, as Australia's in-store market is projected to comprise 80% of total sales by 2030, despite growing e-commerce trends. LINK

• Western Australian avocado producers, accounting for 44% of Australia's yield with 65,000 tonnes last year, are targeting India, Thailand and Japan as growth markets. LINK

• The intersection of politics and infrastructure has intensified as NSW seeks toll price reductions while Transurban negotiates reforms despite contracts allowing annual increases. LINK

GLOBAL NEWS

Extreme weather cost US$2T globally over past decade

• Extreme weather events have cost the global economy US$2T over the past decade, with US$451B incurred in the last 2 years alone, highlighting urgent climate-related challenges at the COP29 summit. LINK

• Russia has assembled a 50,000-strong force, including North Korean troops, for a planned multi-front assault to reclaim territory in the Kursk region from Ukraine. LINK

• Bitcoin has surged to a record high of US$81,000, driven by expectations of a cryptocurrency-friendly regulatory environment following Donald Trump's election. LINK

• Donald Trump plans to overturn Joe Biden's executive order on AI regulation, favouring AI development aligned with free speech. LINK 

COMPANY NEWS

Aldi cans online expansion and reveals which aisle makes the most money

• Aldi has confirmed it will not expand into online groceries in Australia to maintain its position as the country's lowest-cost supermarket, currently holding over 10% market share with 600 stores. LINK

• Stockland has increased its earnings forecast by 3% for the FY25 following a $1.1B acquisition of 12 Lendlease housing estates. LINK 

• Endeavour Group reported Q1 sales of $3.11B while cutting retail margin outlook as retail sales fell short of expectations. LINK

• Dan Murphy's and BWS are experiencing slowing sales due to economic pressures and changing consumer preferences towards more value-oriented alcoholic products. LINK

• CBA has sold its Commonwealth Private business with $5B in funds under management to LGT Crestone, exiting financial advice for ultra-high-net-worth customers. LINK

• Silk Logistics' shares surged after unanimously approving a buyout deal from DP World, offering shareholders a 45.6% premium at $2.14 per share. LINK

• Incitec Pivot plans to sell its fertiliser division after $1B in write-offs led to a $311M annual loss, while expecting US growth benefits. LINK

• LinkedIn's video usage has surged, generating 1.4 times more engagement than other formats, whilst CEO posts have increased by 23% since 2023, receiving 4 times more impressions on average. LINK

• News Corp is in talks to sell Foxtel. LINK

CHART OF THE DAY

Mario Kart has the longest tail of all Switch games

ONE MORE SCROLL

Editor’s Pick: The scientific reason not to make your bed in the morning.

Draft Pick: This handheld sensory device is helping blind sports fans ‘feel’ the game.

Odd Pick: 43 monkeys escaped from a research facility in South Carolina.

TRIVIA

National Happy Hour Day

It's national happy hour day and because we love a happy hour, we're going to delve into the most consumed alcoholic beverages. Beer and wine are clear 1 and 2 but can you rank the global market size, highest to lowest, for the below 6 drinks (sourced from The Drinks Business, whose name suggests they are somewhat credible):

Tequila, Gin, Rum, Whisky, Vodka, Cider

Answers below

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ANSWERS

1. Whisky ($64 billion)
2. Vodka ($26 billion)
3. Cider ($18 billion)
4. Rum ($17 billion)
5. Gin ($15 billion)
6. Tequila ($15 billion)

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