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- Water Usage, Food Insecurity, and Virgin Australia
Water Usage, Food Insecurity, and Virgin Australia
Medibank trials a 4-day work week, Ferrero Rocher abandons 1M trees in NSW, and Twisties and Doritos don't taste the same.
Pick & Scroll News
October 24, 2023
One Read, All Perspectives
Australian News
Sydneysiders warned to brace for possible water restrictions as rainfall, dam levels take a dive. LINK
Households and businesses won't see electricity bill relief until July 2024, despite a significant drop in wholesale prices, as the system grapples with a potentially extreme summer. LINK
Currency speculators increase short positions on the Australian dollar, signifying increased pessimism on our currency. LINK
Australians are opting for cheaper brands due to rising living costs, weakening loyalty to sustainable products. LINK
Over 60% of Australians are concerned about current economic conditions – more than in the rest of the world. LINK
Changing flavours in popular Aussie snacks like Doritos and Twisties are due to a switch to Australian canola oil, aimed at reducing saturated fats. LINK
Food insecurity affects 3.7M Australian households. LINK
Australia faces the world’s most volatile electricity market, complicating its transition away from coal dependency. LINK
Graphite stocks in Australia surged after China implemented export controls on the mineral vital for electric vehicles, escalating the trade war with the US and its allies. LINK
Global News
Company News
Suncorp employees are facing potential job losses due to ANZ’s halted $4.9B takeover attempt. LINK
Medibank initiated a 4-day work week trial without loss of pay, as part of a global movement towards changing traditional working conditions. LINK
Treasury Wine Estates investors remain cautious about the company’s re-entry into the Chinese market, despite potential tariff removals. LINK
National Australia Bank is collaborating with Microsoft to deploy AI technology aimed at reducing menial tasks for its bankers. LINK
Ferrero Rocher has abandoned its $80M hazelnut orchard project in NSW, potentially removing up to 1M hazelnut trees. LINK
Two Australian plant-based meat companies have merged, marking the beginning of sector consolidation aimed at reducing costs. LINK
Virgin Australia ground staff are considering strikes over stalled pay talks, putting additional pressure on the airline. LINK
Amazon is set to challenge Australia Post's last-mile delivery monopoly by leveraging the gig economy. LINK
Axiom Holographics is seeking investors for its world's first hologram zoo at a global tech summit in Sydney. LINK
American Express saw increased revenue in Q3 thanks to robust spending from wealthy customers. LINK
A 3.7 magnitude earthquake shook southwestern Victoria, coming on the heels of a larger 5.0 magnitude quake. LINK
This Week’s Picks
China announced the potential easing of Australian wine tariffs, highlighting thawing trade tensions between Australia and China. LINK
Qantas is increasing airfares by 3.5% this week in response to escalating fuel costs. LINK
Menulog warns of a potential $15 price hike per delivery if the government enforces stricter employment conditions on gig work. LINK
Elon Musk announces 2 new subscription tiers for X, formerly known as Twitter, with varying ad levels and costs. LINK