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- Walt Disney, Apple's $2B Lawsuit, and Victoria's Recyclables Scheme
Walt Disney, Apple's $2B Lawsuit, and Victoria's Recyclables Scheme
Kmart's $1.3M fine for unsolicited emails, Tesla wins legal battle over Autopilot fatality, and Toyota recalls RAV4s over battery fire risks.
Pick & Scroll News
November 03, 2023
One Read, All Perspectives
Australian News
Australia and UK have inked a quantum computing accord to boost investment, research exchange, and expertise sharing in the budding field of quantum computing. LINK
Amidst the work-from-home trend and rising interest rates, office tower values in Australia could plummet a further 20%. LINK
Victorians can now convert household recyclables into cash through the state's new container deposit scheme. LINK
Construction or purchase of new homes saw a substantial decline of 27.7% over the past three months compared to the same quarter last year, with the Reserve Bank's interest rate hiking cycle being a contributing factor. LINK
Low pay and long hours dissuade individuals from pursuing “Partner” positions at the big four accounting firms, despite the financial rewards. LINK
Australia's trade surplus shrank by nearly $3.4B to just shy of $6.8B due to a significant surge in imports by 7.5%, despite exports having marginally decreased by 1.4%. LINK
The Australian dollar leaps to a three-week high of US64.10¢. LINK
Global News
More than 20 Australians among over 300 foreign passport holders have been evacuated from Gaza to Egypt as Rafah crossing reopens. LINK
US President Joe Biden advocates for a humanitarian "pause" in the Israel-Hamas conflict. LINK
Japan unveils a massive $113B package to mitigate inflation impact, combining tax cuts with supplementary budgets. LINK
Propelled by revenge travel, Indian travellers are projected to become the fourth largest global spenders by 2030. LINK
The European Union extends Norway's ban on targeted "behavioural advertising" on Facebook and Instagram to all 30 EU and European Economic Area countries. LINK
Company News
LinkedIn reaches a milestone of 1 billion members while launching an AI chatbot designed as a "job seeker coach". LINK
Kmart Australia faces a $1.3M fine for dispatching over 200,000 marketing emails to unsubscribed individuals. LINK
Uber Australia emerges as a significant profit centre for Uber, with its collections surging 20% to $9.2B last year, amid impending governmental regulation focused on fair wages. LINK
Happly, a platform simplifying household moving logistics, secures $1.75M from angel investors. LINK
CSR revises its earnings expectations downwards for its aluminium business due to a 15% dip in net profit, attributed partially to energy and raw material cost surges. LINK
Wells Fargo liquidates its local inventory finance business in Australia, reflecting the ongoing cost pressures faced by Wall Street firms operating internationally. LINK
Suncorp announces Bruce Rush as the firm's next banking CEO. LINK
Fortescue's shareholders are urged to vote against the company's remuneration arrangements, questioning the millions in bonuses paid to retiring executives with negligible benefits to the firm's investors. LINK
Tesla secures a legal victory in a US trial concerning allegations that its Autopilot driver-assist feature led to a fatality. LINK
Toyota recalls 1.85 million RAV4 SUVs in the US over fire risks associated with replacement battery installations. LINK
Apple faces a potential $2B mass lawsuit in London over alleged hidden defective batteries in millions of iPhones. LINK
Walt Disney initiates the process to acquire Comcast's one-third stake in Hulu, aiming for full ownership to potentially merge it with its Disney+ streaming service. LINK
Hugo Boss posts a 15% increase in quarterly sales to €1.03B (US$1.09B), attributed to continued brand momentum across regions and channels. LINK
Shopify faces investor anticipation for its AI products to fuel growth as Amazon introduces new AI advertising tools for sellers. LINK
Other News
A new mobile keyboard app, Gurray, facilitates the translation of English words into Aboriginal languages, hailed by Indigenous language experts as a game changer for preserving and learning First Nations languages. LINK
This Week’s Picks
Macquarie undertakes unanticipated layoffs within its banking and financial services arm. LINK
CBA’s loan book shrinks for three consecutive months, a first in decades, due to avoidance of loss-making mortgages. LINK
Occupations including project engineers and customer service workers saw significant pay rises last year, amid a slowing economy and easing skill shortages. LINK
Crypto memes surge post-Bitcoin ETF frenzy with Pepe Coin and Bitcoin experiencing significant price hikes. LINK
1 in 3 employers considers working-from-home a privilege, with some looking into differentiated pay for remote work. LINK
NAB has abandoned its promise to hike monthly mortgage repayments only on the 12-month anniversary of variable rate loans, after unexpected rapid interest rate increases. LINK
IMAX CEO Rich Gelfond has announced plans to build 38 more screens in Australia, identifying the country as an underserved market. LINK
Taylor Swift has become a billionaire following her highly successful Eras tour. LINK