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- 🗞️ Wicked wings
🗞️ Wicked wings
Australians ate enough fried chicken last year to push KFC operator Collins Foods to a record $1.6 billion in revenue, with net profit jumping fivefold to $44.2 million.
Pick & Scroll News
July 01, 2026
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Good morning. Australians ate enough fried chicken last year to push KFC operator Collins Foods to a record $1.6 billion in revenue, with net profit jumping fivefold to $44.2 million.
New menu items like the Zinger Banh Mi did the heavy lifting, and online orders now make up more than 40% of Australian sales.
Taco Bell didn't fare as well, with Collins offloading or closing the lot.
All the headlines and more below...
AMAZON SUED FOR ADDING ADS TO PRIME VIDEO AFTER 850,000 AUSTRALIANS PAID FOR THE YEAR
The ACCC has taken Amazon Australia and Amazon US to Federal Court for introducing ads to Prime Video in February 2024. The ACCC is alleging 5 unfair Prime contract terms allowed ads on Prime Video in July 2024, forcing over 850,000 Australians to pay an extra $2.99 a month after already paying $79 annual subscriptions for ad-free streaming. Amazon's terms allowed it to change the service as long as users were notified. It sent an email. Customers could cancel, but weren't offered pro-rata refunds.
850,000+ subscribers paid upfront for a service Amazon then changed mid-contract.
The ACCC argues that made the contract unfair under Australian Consumer Law. It's also alleging Amazon US made the decision to roll out ads globally and helped implement it in Australia. Maximum penalties: whichever is highest of $50M, 3x the benefit gained, or 30% of adjusted turnover during the breach period.
Amazon now offers pro-rata refunds if you cancel after an adverse change. It didn't at the time.
AUSTRALIAN NEWS
New anti-money laundering and counter-terror financing laws taking effect on Wednesday require real estate agents, lawyers, accountants, conveyancers and precious metal sellers to background-check buyers and report suspicious transactions to AUSTRAC. LINK
ASIC is on track in FY26 to secure more than $800M in civil penalties as fresh FOI data shows $724M already imposed, driven by a record $300.2M CFD case. LINK
APRA has conducted its first joint stress test of Australia’s banks and super funds as an interconnected system, finding they barely withstand the worst liquidity shock in 50 years. LINK
Australia has introduced wide-ranging economic and consumer changes from July including wage and tax reforms, superannuation and parental leave boost. LINK
TWO EY STAFF SACKED AFTER ALLEGEDLY ACCESSING ALBANESE'S CBA ACCOUNT
Two Ernst & Young employees working on a Commonwealth Bank contract have been fired and charged with privacy offences after allegedly accessing the Prime Minister's restricted banking information. The younger man faces an additional charge of using a device to distribute personal information in a way considered menacing or harassing.
Only one of the two men terminated by EY was charged by police.
The pair were embedded at CBA through EY's consulting contract when the bank identified irregular account access. CBA flagged it internally, AFP opened an investigation, and both men were terminated. EY declined to comment. CBA said it was "not appropriate to comment on individual contractor matters."
EY is the third of the Big 4 to face serious misconduct allegations in 2 years. KPMG agreed to a 3-month freeze on new federal contracts in March after misusing Lendlease client data. PwC hasn't bid for federal work since 2022 after using confidential Treasury tax briefings to help multinationals dodge tax. Both men are on bail. Cases adjourned to August 25.
COMPANY NEWS
ASIC has won its NSW Supreme Court case against Rex and former for misleading profit optimism before a FY23 loss tracking around $35M, while 3 ex-directors were cleared. LINK
Telstra cut its advertised mobile coverage area from 3 million square kilometres to 2.14 million square kilometres as new ACMA signal strength standards take effect nationwide. LINK
More than 1 million Qantas customers denied refunds for COVID-era cancelled flights are being notified they can claim at least $50 each from a $105M class action settlement. LINK
White Fox Boutique paid a $35.4M dividend to its founders as FY25 revenue surged past $500M, while ASIC fined the $1B retailer $187,800 for late accounts. LINK
RS Rewards has been banned from running gaming activity in NSW until December 2027 after NSW Fair Trading alleged persistent unlawful trade promotions and cancelled its community gaming licence. LINK
Budget airline VietJet has applied to operate 2,252 domestic take-off and landing slots at Sydney Airport, offering flights between Sydney, Melbourne and Brisbane with an initial 5-plane fleet. LINK
Ramsay Health Care has gained special access to privately insured patients in a Queensland public emergency department under a national trial that has already transferred more than 2,000 patients. LINK
Workday has warned that increasingly autonomous AI agents handling payroll, contracts and finance with little human oversight could trigger disastrous outcomes as it seeks a renewed start-up mentality. LINK
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This is our biggest survey yet and the more people who contribute, the harder it gets for anyone to be underpaid without knowing it. Anonymous, takes 2 minutes, and the results go straight back to the community.
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ONE MORE SCROLL
Editor’s Pick: Trump has shared a patriotic painting featuring himself, George Washington and a humanoid robot, as part of a weekend flurry of provocative fan art posts.
Draft Pick: The NBA free agency period opens with LeBron James’ pending decision on a 24th season.
Doctor’s Pick: What are the pros and cons of creatine?
TRIVIA
All of these events happened on the 1st of July. Put them in chronological order:
First Tour de France, SOS becomes international distress signal, Canada becomes a country, Battle of Gettysburg, First US postal stamp
Answers below
OUR SOCIALS
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ANSWERS
1847 - First US postal stamp
1863 - Battle of Gettysburg
1867 - Canada becomes a country
1903 - First Tour de France
1908 - SOS becomes international distress signal
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