Toyota, Optus and TikTok Shop

Australian News

• Queensland's south-east faces more heavy rain, causing flash flooding. LINK

• Australian Border Force seizes 150,000 disposable vapes worth $4.5M, a major crackdown following the government's recent importation restrictions. LINK

• Melbourne's unit market outperforms Sydney and Brisbane, with tripled values over 20 years but faces an uncertain future due to recent oversupply. LINK

• Major banks may withhold full interest rate cuts to protect net interest margins, with the RBA expected to reduce the current 4.35% cash rate in late 2024. LINK

• Used car sales in Australia surged to 2.1 million in 2023, a 34% increase from January to November. LINK

• Australian retail turnover fell 2.7% in December, the largest drop since 2020's Covid-19 lockdowns, driven by reduced spending on household goods and department stores. LINK

• Australians with higher credit scores, above 700, are more likely to be targeted by hackers, having accounted for 72% of all attempted breaches in 2023. LINK

• Master Builders Queensland warns of new hikes in building materials from February, with home building costs already up 34% since 2019. LINK

Global News

• French farmers blockade Paris with tractors, vowing to control food supply and "starve Parisians", in protest against French and European agricultural regulations. LINK

• Bulk commodities vessel owners are pressured to navigate through the Red Sea despite heightened risks, as traders alter contracts to use the cheaper and faster Suez Canal route. LINK

• Beijing faces a dilemma in its deepening real estate crisis, choosing between injecting more funds or allowing the development of mini-bubbles in the market. LINK

• Japanese PM advocates for higher wages to boost the economy, despite facing low approval ratings and a potential general election. LINK

• Donald Trump is weighing options for a major new economic attack on China if re-elected. LINK

Company News

• Woolworths and Coles face profit margin challenges amid regulatory scrutiny and political pressure. LINK

• TikTok tests a new feature enabling shoppable posts, using technology to identify products in videos that links viewers to TikTok Shop for purchases. LINK

• Neuralink implants its first brain chip in a human patient, with Elon Musk announcing promising initial results. LINK

• Toyota suspends shipments of some models, including the Hilux truck and Land Cruiser 300 SUV, due to irregularities in diesel engine certification tests. LINK

• Lendlease to demolish 18 houses in Sydney's "sinking suburb" Jordan Springs East, not meeting quality standards and adding stress to affected families. LINK

• Vacuum cleaner retailer Godfreys enters voluntary administration, planning to close 54 stores and affecting 193 jobs. LINK

• Whistleblowers claim Boeing's production defects on planes, including the 737 MAX, remain unaddressed, raising safety concerns for travellers. LINK

• Qantas announces international fare sale to rebuild its brand. LINK

• IBM issues an ultimatum to managers who are still working remotely: relocate near an office or leave the company, as part of its increased return-to-office mandate. LINK

• Optus' incoming head of corporate affairs, Danielle Keighery, departs for Qantas, two weeks before her scheduled start at the telecommunication group. LINK

• Singtel explores options for Optus, focusing on its enterprise division. LINK

• Megaport's stock jumps 30% as short sellers are squeezed following a positive trading update and the company's successful cost-cutting program. LINK

Other News

• Japan's SLIM lunar probe regains power after nine days, resuming operations to analyse the Moon's surface, marking Japan as the fifth country to reach the Moon. LINK

• The rise of AI in corporate America leads to the creation of the senior executive role for AI, a Chief AI Officer. LINK

This Week’s Top Picks

• ACCC report calls for government action to address childcare accessibility challenges, particularly for low-income and diverse households. LINK

• Brisbane is leading Australia's cost-of-living crisis with the highest rent, energy, health and insurance price hikes in the past year. LINK

• Interstate buyers make up one in four Gold Coast property auction sales, significantly higher than the national average. LINK

• There has been a drop in lenders offering mortgage cashbacks, with banks learning from this trend and unlikely to resume such offers soon. LINK

• AlphaTauri F1 Team Renaming: Red Bull's Formula 1 junior team, AlphaTauri, rebrands to Visa Cash App RB F1, facing mockery and criticism for its new name, regarded as one of the worst in F1 history. LINK

• A Bureau of Meteorology scientist loses his job and fails to get reinstated after secretly working overseas while claiming to be working from home. LINK

• Record renewable energy generation led to a 24% drop in wholesale electricity prices in the fourth quarter of 2023-24. LINK

• Australia's population surpassed 27 million, reaching this milestone 18 years earlier than predicted, with migration significantly contributing to this growth. LINK

   

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