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Toblerone, Nike and Nestlé
The WA government will spend nearly $4M destroying expired rapid antigen tests.
Pick & Scroll News
July 01, 2024
One Read, All Perspectives
Australian News
Property buyers are becoming cautious amid talk of further interest rate rises, with fewer buyers willing to pay above the auction reserve. LINK
The ASX 200 index rose 7.8% in FY24, buoyed by resilient corporate profits and central banks slowing policy tightening. LINK
Super funds are expected to deliver returns of around 9% for the financial year, marking a second consecutive year of strong performance despite market challenges. LINK
The waste sector warns of the risk of "catastrophic" fires as more electric vehicle batteries reach end-of-life, calling for a nationwide ban on batteries in landfills. LINK
Businesses in Australia's east are on standby to switch off due to the ongoing gas crisis, which is causing bill pain and operational disruptions. LINK
The NSW government received advice in 2023 that the state won't meet the Paris Agreement climate targets. LINK
Northern Territory is set to face blackouts within 4 years unless investment in its electricity grid increases. LINK
Brisbane City Council warns that 1M passengers could be stranded during the state's 50c fares trial if bus usage increases by just 10%. LINK
The WA government will spend nearly $4M destroying expired rapid antigen tests. LINK
Global News
Company News
Meta may block news on its Australian platforms if forced to pay news organisations for content, escalating its dispute with the Australian government. LINK
Virgin Australia's potential stake sale to Qatar Airways is unlikely to disrupt Qantas' market dominance, as Virgin remains focused on profitability. LINK
The ANZ-Suncorp $4.9B takeover has been approved by the federal government, with strict conditions, adding $70B in loans to ANZ's portfolio. LINK
Canva's founders have donated $31.6M to charities through the Canva Foundation. LINK
Nine Entertainment is considering blocking AI bots from scraping its content, a move following restrictions by major publishers like The New York Times. LINK
Nine Entertainment will cut around 200 jobs due to a weaker advertising market and the end of a content deal with Meta. LINK
Nestlé targets stable sales growth from Q2 onwards as cost inflation eases. LINK
Nike saw its stock slump 20% due to a forecasted drop in annual sales, reflecting concerns about market share losses to brands like On and Hoka. LINK
Despite Mondelez's efforts to isolate its Russian business, Toblerone chocolates are still being sold in Russia. LINK
Qantas will begin compensating customers impacted by the ghost flights scandal, offering $20M to over 86,000 affected passengers. LINK
Mercedes-Benz is introducing next-gen adaptive cruise control with automatic lane change functions, set to be launched in Australia pending regulatory approval. LINK
