- Pick & Scroll News
- Posts
- Unemployment, New Tourist Tax Rules and Nestlè
Unemployment, New Tourist Tax Rules and Nestlè
Netflix is increasing its prices, Google brings manufacturing to India, and Employment Hero takes the biggest capital raise of the year.
Pick & Scroll News
October 20, 2023
One Read, All Perspectives
Australian News
New tax rules could deter business travellers and tourists from spending more than 45 days in Australia, stifling economic activity. LINK
Australia's jobless rate falls to 3.6%, adding pressure on the RBA to lift rates that have been at 4.1% since June. LINK
Tourism in WA's Kimberley region shows signs of recovery after the worst floods on record, though staff shortages remain a hurdle. LINK
Paid parental leave has been expanded by the government, but most of the support will not be available for a few more years. LINK
Business insolvencies surged in the September quarter to the highest levels since 2015, fuelling concerns for various sectors. LINK
Electricity demand falls to a record low during the last quarter, tempering household and business bills. LINK
Global News
Company News
Employment Hero, a human resources and payroll start-up, raises $263M, the biggest capital raising of the year valuing it at $2B. LINK
Netflix increases subscription prices in multiple countries to boost revenue amid competition. LINK
Morgan Stanley shares plunge after profits drop due to a slowdown in its trading and wealth management divisions. LINK
Nick Scali saw a strong trading update despite shoppers shunning bigger ticket items and putting money towards the growing cost-of-living expenses. LINK
Qantas shares fall 3.3% after terminating its takeover bid for Alliance Aviation 6 months after its takeover offer was rejected by regulators. LINK
Woolworths plans to divest PETstock stores after regulatory concerns. LINK
Tesla CEO Elon Musk announced that the Cybertruck's US deliveries will begin on November 30. LINK
Elon Musk’s X, formerly Twitter, has implemented a US$1 annual fee for new users in New Zealand and the Philippines, aiming to reduce spam and bot accounts. LINK
Amazon unveiled that its US drone program is on track to deliver 500M parcels annually by 2030, targeting densely populated urban areas. LINK
Google will commence manufacturing its Pixel smartphones in India whilst partnering with international and domestic manufacturers. LINK
Procter & Gamble is considering selling either a full or partial stake in its VS Sassoon haircare brand in China. LINK
Nestlé saw lower-than-expected 9-month sales, as higher product prices have deterred consumers. LINK
Nokia announced plans to cut up to 14,000 jobs due to a 20% reduction in third-quarter sales, signalling no immediate recovery in the 5G market. LINK
Other News
Andrew ‘Twiggy’ Forrest’s Foundation donates $10M for humanitarian aid in Gaza. LINK
This Week’s All Star Picks
YouTube is cracking down on ad-block users by constantly changing its ad-blocking detection scripts.
Netflix might raise subscription prices after successfully curbing password sharing
Australian live cattle export prices to Indonesia have plummeted by over 50% in the past 18 months with Indonesia increasing its number of boxed imports.
Melbourne and Sydney inner property markets see a decline in investors due to weak capital growth and elevated holding costs; Melbourne's investor-owned listings reach 60% in the September quarter.
Argentina discloses a 12.7% inflation rise in September, leading to a staggering 138% annual rate.
Atlassian seals its largest-ever deal, acquiring video-messaging startup Loom for $US975M, investing in remote work trends.
Canva informally advises emerging startups on hiring in Manila, contrasting tech industry appeals for more Australian roles.
In partnership with:
The Aussie Corporate
Your go-to for insights into corporate Australia sourced from our Auscorp community and delivered to you without the red tape and corporate fluff 🔥 Just dropped: Your monthly caffeinated dose of AusCorp.