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The Fair Work Commission has ruled that a Sydney mother employed by Reapit Employment Services can work from home all but 1 day a fortnight to accommodate school drop-offs.
Pick & Scroll News
May 22, 2026
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Good morning. Google just gave Search its biggest upgrade in 30 years and it's all AI.
The revamp will come with improved AI capabilities that let you ask more detailed questions and create search-based AI agents that can scrape the internet in the background.
If you’re looking for an apartment, Google said you’ll be able to tell it to create an agent that searches for all the amenities you want. Once the agent finds a place that meets your requirements, it will fire off an alert.
All the headlines and more below...
AUSTRALIAN NEWS
Australia’s unemployment rate has risen to a 4.5% four-and-a-half-year high in April as employment fell by 18,600. LINK
The federal government has kept the top 47% income tax rate applying from $190,000 instead of about $281,450, creating a 20-year low inflation-adjusted threshold and sparking criticism. LINK
Rising fuel surcharges and material costs linked to the Iran war have pushed residential construction expenses higher across Sydney, pressuring builders and contributing to inflation. LINK
Bond markets have reduced bets on further RBA rate rises as an unexpected jump in unemployment to a 4-year high signals a potential economic slowdown. LINK
The federal government's proposed capital gains tax reform will see younger investors making short-term, high-risk trades pay more tax, while favouring long-term investments like ETFs. LINK
The Tasmanian government will cut 1,700 public service jobs over 2 years as it targets a $192M surplus in FY28 and aims to manage net debt peaking at $9.9B. LINK
GEN Z’S FLIPPING STOCKS IN UNDER A YEAR WILL NOW PAY FULL TAX ON NEARLY ALL GAINS.
The government's capital gains tax overhaul removes the 50% discount and replaces it with an inflation adjustment. Short-term traders get hit harder than long-term holders, especially in low-inflation years.
A $5,000 gain flipped in 12 months now gets taxed on $4,600 instead of $2,500.
Right now, if you buy a stock for $10,000 and sell it a year later for $15,000, you pay tax on half the gain: $2,500. Under the new system, only the inflation component is exempt. At 4% inflation, that's $400. The remaining $4,600 is taxable at your marginal rate.
One investor advocate said it could push people away from moonshot investments toward ETFs and index funds a net positive given the rise of finfluencers. An academic countered that discouraging young people from taking big swings could stifle innovation and wealth-building ambition.
COMPANY NEWS
X admitted to breaching Australian law by failing to disclose its actions against child sexual exploitation material, resulting in a $650,000 penalty plus $100,000 legal costs. LINK
The Fair Work Commission has ruled that a Sydney mother employed by Reapit Employment Services can work from home all but 1 day a fortnight to accommodate school drop-offs. LINK
Coles is investigating an incident after a Melbourne artist reported on social media that four $500 Apple gift cards she purchased were fraudulent. LINK
Virgin Australia has deepened its capacity cuts as it suspends Brisbane-Apia indefinitely from 25 August, pauses Brisbane and Melbourne-Uluru from late October and scraps planned Adelaide-Hobart and Perth-Launceston services. LINK
Singtel is considering selling a minority stake in Optus as it seeks an Australian partner to help rebuild the telco after outages, cyber attacks and regulatory scandals. LINK
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CHART OF THE DAY
EV model availability has more than doubled from 410 in 2020 to 980 in 2026, and is projected to reach ~1,250 by 2029 - nearly matching the ~1,340 ICE models expected that year. Meanwhile, hybrid models are also quietly growing, while ICE availability has slightly contracted, signalling a gradual but clear shift in the global auto market toward electrification.
ONE MORE SCROLL
Editor’s Pick: The worlds biggest animal migration you probably haven't heard about.
Draft Pick: McLaren catches F1 rivals by surprise with double move.
Doctor’s Pick: Obesity and overweight to affect half of Australian children and young people by 2050, global study finds.
BRAINTEASER
Which 3 letter word can go AFTER "spin", "kick" and "lift" to make 3 other words?
Answer below
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