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Coca Cola recalls drinks linked to illnesses, Australia's living standards drop, and Optus gives 200GB.
Pick & Scroll News
November 10, 2023
One Read, All Perspectives
Australian News
Australian households experienced the steepest drop in living standards among advanced economies over the past year, driven by high inflation, surging mortgage repayments, and escalating income taxes. LINK
First-time home buyers, who secured loans during low interest rate periods, are transitioning to new variable interest rates, which are now higher than the initial buffers applied by banks. LINK
Western Australia homeowners are being incentivised with $10,000 to delist properties from Airbnb-type platforms. LINK
Queensland homes are now worth more than ever before, even surpassing the post-COVID records set in early 2022 after years of booming prices. LINK
831 large companies paid no tax in 2021-22, despite an overall increase in total tax revenue collected. LINK
More homeowners are renting out spare rooms, as the demand for shared housing surges amidst Australia's tight rental market and rising rates. LINK
A rezoning proposal aims to address NSW's acute housing shortage by transforming a 68-hectare office area in Sydney's Macquarie Park into a residential development, potentially adding over 3,000 new apartments to the housing supply. LINK
Federal government pledges to match $50M in state flood recovery funding for NSW central west. LINK
Thousands of South Australian public school teachers rallied in Adelaide for better pay and conditions, marking the second significant strike within two months, as negotiations with the state government continue to stagnate. LINK
Global News
Company News
Optus announced compensation for its consumer and small business customers with 200GB of extra data. LINK
Vodafone and its affiliated brands experienced a remarkable "four-fold" surge in sales during Optus' 14-hour outage. LINK
Disney exceeded earnings expectations due to profit gains at ESPN+ and continuous growth at theme parks, although a dip in advertising revenue posed a challenge. LINK
Westfield's local domain saw a slowdown in sales growth amid consumer spending restraint, yet saw a 7.4% increase in customer visitations to their malls. LINK
Mining giants BHP and Rio Tinto emerged as substantial contributors to Australia's corporate income tax, furnishing a combined $20B to the federal budget. LINK
Supermarkets are being criticised for insufficient efforts to reduce plastic usage, with ALDI scoring the highest at 2 out of 5, indicating a broader industry-wide struggle to meet national plastic reduction targets. LINK
EY Oceania plans to cut 232 positions, over 2% of its workforce, due to a substantial reduction in demand from financial services and public sector clients. LINK
National Australia Bank Chief Ross McEwan forecasts stiff mortgage competition to persist, post an 8.8% increase in cash profits to $7.7B for 2023. LINK
Viva Energy eyes a nearly 150% earnings jump from its retailing business within five years, following an extensive expansion in convenience retailing. LINK
Amazon initiated layoffs in its Music division, extending its restructuring which has impacted over 27,000 employees within the past year. LINK
Coca Cola HBC temporarily recalled specific batches of two drinks from Croatian markets amidst investigations into illnesses suspected to be linked to these beverages. LINK
Other News
Employers are enhancing wellness offerings to combat pandemic-induced employee burnout, transitioning from mere subsidised gym memberships to encompassing perks like saunas and health allowances, reflecting an evolving workplace wellness culture. LINK
Innovative "mass timber" structures are propelling a grand experiment in sustainable architecture, aspiring to slash greenhouse gas emissions and store carbon, heralding a potential era of wooden skyscrapers redefining city skylines. LINK
Adidas projects a positive outlook with retailers showing increased interest in its 2024 autumn/winter range, amidst efforts to recover from a setback following its split with rapper Kanye West.
This Week’s Top Picks
Central Australia's tourism sector is facing ongoing challenges like costly airfares and security issues, as businesses report a 50% decline in bookings compared to the previous year. LINK
Commonwealth Bank has been intercepting 400,000 abusive payment descriptions yearly. LINK
Full-time return to the office could disadvantage female workers who have thrived on the flexibility engendered by remote working arrangements during the Covid era. LINK
Woolworths announces a 20% price cut on 26 Australian lamb products as a pre-Christmas relief for families, reflecting a response to oversupply in the meat industry. LINK
Vitasoy Australia anticipates its highest yearly production as consumer preference shifts towards plant-based milk alternatives. LINK
Mortgage customers negotiating with their banks can secure significant interest rate reductions, averting nearly $2,400 annually on a $500,000 loan. LINK
An increasing trend of 'health and well-being' breaks is emerging, with more individuals openly communicating these breaks to employers. LINK
The Cheesecake Shop unveils a multimillion-dollar rejuvenation strategy, encompassing a new logo, TV commercial and store fit-outs, aimed at evolving from a celebratory event shop to a go-to dessert business for various occasions. LINK
Flybuys experiences a surge in point redemptions throughout 2023 as households leverage the scheme amidst rising living costs. LINK
October saw a 43% leap in company collapses in Australia, partly due to an aggressive tax office and impending interest rate rises as the holiday slowdown approaches. LINK
Small to medium businesses (SMBs) in Australia face heightened cyber attack risks. LINK
An increasing number of millennials are migrating from cities to regional areas in Australia. LINK
Construction workers are found to be 6 times more likely to die by suicide than from work-related accidents. LINK
According to science, modern NBA players are better than the previous eras, exhibiting enhanced explosiveness in movement despite no significant increase in body size. LINK
Meta CEO Mark Zuckerberg sustains an ACL injury while training for a competitive MMA fight. LINK
Mariah Carey faces a lawsuit from singer-songwriter Andy Stone for alleged copyright infringement over the iconic song "All I Want for Christmas Is You". LINK