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Uniqlo, NBA & The Good Guys
Crown Resorts sells its 20% stake in the Nobu restaurant group for $266M as part of a strategy to refocus on gaming and hospitality.
Pick & Scroll News
July 12, 2024
One Read, All Perspectives
Australian News
Small businesses are expected to drag on economic growth in the June quarter. LINK
Retail ownership of Australia's big banks has hit a record low, with institutional demand driving up bank stock prices. LINK
Renters are cutting household spending at a faster rate than homeowners due to record low vacancy rates and soaring rental prices. LINK
Educational apps may pose a danger to children by harvesting and selling their personal information. LINK
Global News
China sent a record number of warplanes across the Taiwan Strait's median line amid potential US visits by Taiwan's new president. LINK
Gen Z adults in the US are increasingly relying on financial assistance from their parents due to inflation. LINK
China and Brazil will launch a pilot scheme to make beef production more sustainable. LINK
Company News
AustralianSuper and Gold Coast Council have entered the bidding process for a 74.25% stake in Queensland Airports, competing against overseas bidders. LINK
BHP will halt nickel mining operations in WA until at least 2027 due to global oversupply, impacting 3,000 jobs. LINK
Jarden launches a new carbon trading platform in Australia, betting on the growing demand for carbon credits as companies strive for net-zero emissions. LINK
Samsung unveiled its latest foldable smartphones, making them lighter and slimmer with improved AI and health monitoring functions. LINK
Crown Resorts sells its 20% stake in the Nobu restaurant group for $266M as part of a strategy to refocus on gaming and hospitality. LINK
ANZ is investigating workplace misconduct and alleged bond price manipulation of government debt trading. LINK
The Good Guys chain misled customers on store credit promotions for 4 years, according to allegations by the ACCC. LINK
Uniqlo owner Fast Retailing raised its full-year profit forecast to ¥475B due to strong sales in Japan and some overseas markets. LINK
Microsoft settled an antitrust complaint about its cloud computing licensing practices with a €20M deal. LINK
The NBA has finalised a $76B deal with NBCUniversal and Amazon, maintaining Disney's ESPN as the home of the NBA finals. LINK
Costco Wholesale will raise annual membership fees for US and Canada customers for the first time in 7 years. LINK
CNN will cut about 100 jobs to consolidate news operations and focus on digital growth, according to an internal memo. LINK
Elon Musk won dismissal of a $500M severance lawsuit filed by former Twitter employees he fired after acquiring the company. LINK
BMW reported the strongest sales among Germany's top 3 premium carmakers, significantly boosting battery-electric deliveries. LINK
Volkswagen shares dropped after a profit warning and a significant decline in sales in China, where it faces growing competition from local EV makers. LINK
Sydney's PMFresh has acquired Tasmania's HS Fresh Food Group, but hundreds of employees face uncertainty about their future roles. LINK
