🗞️ Uno reversal

The AI apocalypse has been staved off for one more day.

Author

Pick & Scroll News
August 22, 2025

Was this email forwarded to you? Sign up here

 


Together with


Good morning. The AI apocalypse has been staved off for one more day.


CBA Chief Executive Matt Comyn must be eating his words at the Economic Reform Roundtable, after plans to replace call centre employees with AI were reversed amid poor performance.


At least they were honest enough to admit they “did not adequately consider all relevant business considerations”.


All the headlines and more below...

AUSTRALIAN NEWS

ASX 200 soars to record high

  • Australia's sharemarket reached a historic milestone by surpassing 9000 points for the first time, as strong reporting, interest rate cuts and reduced global trade tensions propel the market to record territory. LINK

  • A $3B portion of the federal government's Rewiring the Nation fund remains unused in WA as renewable energy transition faces delays. LINK

  • Australian scientists have identified irreversible Antarctic changes including sea ice reduction and potential multi-metre sea level rises. LINK

  • Australian unions and tech companies have agreed to develop payment models for AI content creators. LINK

  • Victoria's startup sector has grown to 3,800 tech companies whilst experts emphasise the need for continued government support. LINK

  • Consumer confidence increased 5.7% after the RBA cut rates to 3.60% with renters reporting improved sentiment. LINK

COMPANY NEWS

CBA U-turns on AI job cuts, calls back humans

  • CBA has reversed its decision to cut dozens of call centre roles that were to be replaced by AI, after the voice bot failed to deliver promised benefits whilst call volumes increased. LINK

  • Canva launched an employee share sale at a $65.3B valuation while planning an IPO and expanding AI-powered design tools. LINK

  • Microsoft has restricted Chinese access to its cybersecurity warning system after a suspected leak aided SharePoint hacking. LINK

  • Qube reported 27.3% revenue growth, though net profit dropped 77% to $51M after a $127.6M write-down on its idle $570M Sydney rail terminal. LINK

  • Insignia Financial has returned to a $16.1M FY25 profit from a $185.3M loss as cost reductions improved net revenue to $1.405B. LINK

  • Goodman Group reported a $1.67B FY25 profit with 13% higher operating earnings, driven by data centre demand and portfolio revaluations. LINK

  • MA Financial has grown assets under management to $12.7B despite first-half NPAT falling 43.7% to $7.6M. LINK

  • Bega Group has reported 23% EBITDA growth to $202M despite an $8.5M statutory loss from facility closure costs. LINK

  • DeepSeek released its upgraded V3.1 AI model featuring improved processing speeds and reduced API costs. LINK

  • Fisher & Paykel forecast a 31% rise in first-half profit to NZ$200M driven by hospital product demand. LINK

  • Universal Store Holdings lifted full-year profit by 15.2% to $34.8M through strong private brand clothing sales despite retail headwinds. LINK

  • Xero shareholders delivered a first strike as 49% voted against the CEO's US$15.2M pay package. LINK

  • Super Retail has reported an 8% fall in FY25 profit to $222M despite exceeding expectations in sales growth and margins. LINK

  • Goldman Sachs plans to expand its Australian private wealth team to capture growing demand from self-made millionaires. LINK

CHART OF THE DAY

Core inflation flares up, dampening rate cut hopes

ONE MORE SCROLL

Editor’s Pick: Why no hurricane has ever crossed the Equator.

Draft Pick: AFL suspends Izak Rankine for four games over 'highly offensive' homophobic slur.

Odd Pick: Become a master of evil with Darth Vader’s actual lightsaber (if you have $3 million).

TOGETHER WITH

Take what you’re doing offline and circle back on team wellness because real team bonding happens with puppies, not PowerPoint. Give your team an event they’ll actually look forward to with Puppy Yoga!

We’ve got you covered with Corporate Cuddles and Puppy Yoga 🐶

TRIVIA


Today we've got some emoji trivia for you. What is the common saying that the emojis are trying to portray?

  1. 🐦️✋ 

  2. 🐠🌊

  3. 🐠🪣

  4. 🐂👀🟥

  5. 🐸➡️👑


Answers below

OUR SOCIALS

Join over 20,000 followers on our LinkedIn and Instagram for industry insights and snapshots.
Like what you read? Share Pick & Scroll with your family, friends and colleagues below. 👇

ANSWERS

1. A bird in the hand (is worth two in the bush)
2. There are plenty more fish in the sea
3. Like a fish out of water
4. Like a red rag to a bull
5. You have to kiss a lot of frogs before you find a prince


Was this email forwarded to you? Sign up here