🗞️ Tough crowd

Good morning. NVIDIA reported a revenue increase of 94% beating both top and bottom line expectations, sending stock…. down 1%. Tough crowd.

That said, we feel little sympathy for NVIDIA stock owners given how many of their employees are now millionaires and the share price has risen over 750% in the last 2 years.

All the headlines and more below...

PODCAST

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AUSTRALIAN NEWS

Supermarkets make plastic problem worse with cheap pre-packaged produce

• Australian supermarkets offer plastic-wrapped produce at cheaper prices 73% of the time, with loose items costing 53% more on average. LINK

• NSW has averted a planned Sydney train strike after successful negotiations between the government and rail unions, with industrial action postponed for 2 weeks. LINK

• The government has revised its social media regulations, excluding YouTube from the under-16s ban while maintaining restrictions on Snapchat, TikTok, Instagram and Facebook due to educational considerations. LINK

• Graduate employment opportunities are declining across sectors. LINK

• Westpac has delayed its forecast for the RBA's first cash rate cut to beyond May, due to persistent inflation and a resilient jobs market. LINK

• Australian governments are set to spend $110B in "off-budget" investments over the next 4 years. LINK

• Developers of purpose-built student accommodation in Australia are expanding beyond Sydney and Melbourne as the market faces slower growth, having nearly doubled to 132,700 beds over the past decade. LINK

• A National Tertiary Education Union report has revealed that over 300 Australian university executives earn more than state premiers. LINK

• Australia's airline capacity remains 2.7% below pre-pandemic levels, impacting airfare prices despite recent fare reductions. LINK

• Virtual AI-based travel influencers are increasingly being utilised as tourism industry ambassadors. LINK

GLOBAL NEWS

RBNZ on verge of becoming most aggressive rate-cutting central bank

• The Reserve Bank of New Zealand is considering a 0.75 percentage point rate cut next week, with markets pricing a 20% probability of this aggressive reduction. LINK

• Bitcoin has surpassed US$98,000 for the first time. LINK

COMPANY NEWS

Popular restaurant ordering app me&u lays off 10pc of staff

• Me&u is laying off 10% of its staff while pursuing profitability and growth plans following its merger with Mr Yum last year. LINK

• Over 1,500 Woolworths warehouse workers have begun an indefinite strike for better pay and safety conditions, potentially disrupting grocery supplies until Christmas. LINK

• Bunnings has defended its facial recognition system developed with Victoria Police, maintaining it tracks only violent offenders among 500 banned individuals. LINK

• Virgin Airlines is contesting liability in a Victorian Supreme Court case over service cart incidents during a flight. LINK

• Premier Investments has terminated Smiggle CEO John Cheston for alleged HR investigation interference. LINK

• Coles CEO Leah Weckert has told the ACCC inquiry that private label products are not used to undercut suppliers while revealing that it lost market share during periods of exclusive focus on low prices. LINK

• Web Travel is preparing to address declining margins in its WebBeds business. LINK

• Alibaba Group has consolidated its e-commerce platforms into a single Alibaba E-commerce Business Group, integrating Taobao, Tmall and AliExpress. LINK

• Google faces pressure from US prosecutors to sell its Chrome browser and share search data, as the company controls 90% of the online search market. LINK

• Qube Holdings has maintained its FY25 profit and earnings growth guidance, expecting modest growth following strong FY24 results. LINK

• Accent Group has reported a 6.8% increase in sales for the first 20 weeks of FY25, while experiencing a 70 basis point decline in gross margins due to sector-wide promotions. LINK

• Lendi has revised its mortgage broker commission tiers, reducing upfront commissions for certain loan volumes. LINK

• Nvidia forecasts its slowest revenue growth in 7 quarters but outperformed expectations with $35B in quarterly revenue as its data centre business boomed. LINK

CHART OF THE DAY

Australian hoteliers’ top motivations for using online travel platforms

ONE MORE SCROLL

Editor’s Pick: The Best Inventions of 2024.

Draft Pick: Australia's bid to reclaim the Border-Gavaskar Trophy for the first time since the 2014-15 summer starts in Perth.

Odd Pick: Cigarette smuggler caught trying to cross river disguised as a water plant.

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TRIVIA

Wonderwomen

19 years ago today, Angela Merkel became the first female Chancellor of Germany. We thought we would delve into some powerful females with our all female trivia:

1. Which civil rights activist refused to give up her seat on a bus in Montgomery, Alabama, in 1955?

   a) Harriet Tubman

   b) Rosa Parks

   c) Coretta Scott King

   d) Sojourner Truth

2. Which tennis player won 23 Grand Slam singles titles, making her one of the greatest athletes in history?

   a) Serena Williams

   b) Venus Williams

   c) Martina Navratilova

   d) Billie Jean King

3. Who was the first woman to serve as Vice President of the United States?

   a) Hillary Clinton

   b) Sarah Palin

   c) Kamala Harris

   d) Geraldine Ferraro

4. Which influential British monarch was known for her long reign during the 19th century?

   a) Queen Elizabeth I

   b) Queen Victoria

   c) Queen Mary

   d) Queen Anne

5. Which actress co-founded the Time's Up movement to combat sexual harassment in the workplace?

   a) Meryl Streep

   b) Reese Witherspoon

   c) Emma Watson

   d) Angelina Jolie

Answers below

OUR SOCIALS

ANSWERS

1. b) Rosa Parks
2. a) Serena Williams
3. c) Kamala Harris
4. b) Queen Victoria
5. b) Reese Witherspoon

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