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With the Year of the Horse slowly approaching, a villain from Harry Potter’s world has become a symbol of fortune.
Pick & Scroll News
February 11, 2026
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Good morning. With the Year of the Horse slowly approaching, a villain from Harry Potter’s world has become a symbol of fortune.
Draco ‘Malfoy’, or “Ma Er Fu” in Mandarin, might just be the most fortunate of names. The first word “Ma” means “horse” (马), and the third character refers to good fortune (福).
Together, it sounds like horses are bringing good luck.
All the headlines and more below...
AUSTRALIAN NEWS
ACCC uncovers fraud and inflated costs in NDIS
The ACCC uncovered scams and inflated costs among NDIS providers, including useless equipment and fake claims, amid rising fraud fears within the $50B scheme. LINK
Potential changes to Australia's capital gains tax discount may increase taxes by 6 figures for middle-income property investors as the 50% concession faces reduction or removal. LINK
The government’s $10B housing fund has delivered just 2% of its 40,000 home goal after 2 years, promising a major scale-up in 2026. LINK
Sydney and Melbourne house prices are cooling due to rate hikes and affordability issues as smaller capitals see price growth supported by low housing supply. LINK
The Fair Work Ombudsman is taking legal action against CFMEU officials. LINK
Australian radio broadcasters must now disclose use of AI-generated voices during high listenership periods as new rules aim to improve transparency nationwide. LINK
COMPANY NEWS
Telstra plans to cut 209 jobs from its venture with Accenture to lower costs
Telstra plans to cut 209 jobs from its $700M AI venture with Accenture while offshoring some roles to India as part of cost-cutting. LINK
Westpac and CBA have raised savings rates to 4.50%-5.25% following the RBA hike, offering higher returns while imposing strict conditions. LINK
Aldi to continue keeping two-thirds of products under $5 and claiming it saves families up to $3,000 annually vs Coles and Woolworths. LINK
NAB will launch virtual banking appointments from March 2026 as it adapts to branch closures and rising digital service demand. LINK
ANZ faced customer fury as a payment glitch delayed wages just days after a RBA system issue, with complaints stressing rising financial pressure and poor transparency. LINK
Alphabet attracted over $140B in demand for a planned $15B bond sale as it funds AI infrastructure in one of the biggest debt deals. LINK
Vodafone doubled its regional mobile coverage to over 1M square kilometres through a $1.5B investment, easing connectivity for rural Australians. LINK
Roblox has been warned by the Australian government over grooming and explicit content reports, citing new digital safety laws. LINK
Macquarie Bank expanded its term deposit and home loan market share by growing deposits above $100B, cutting staff costs by 24% via digital tools. LINK
Mecca began a façade upgrade of its Melbourne flagship just 6 months after opening, importing delayed UK terracotta tiles during the $100M redevelopment. LINK
Meta is developing a new standalone app called Instants to let users send disappearing photos, echoing Snapchat's core feature as part of a broader shift toward private sharing. LINK
ONE MORE SCROLL
Editor’s Pick: Steven Spielberg has officially become an EGOT.
Draft Pick: Flimsy Olympic medals prompt warning to celebrating athletes.
Odd Pick: Winter Olympics: Team GB skier avoids censure for anti-ICE message written by urine in the snow.
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BRAINTEASER
Today’s puzzle appeared in the UK version of The 1% Club. It was the 30% question meaning that 30% of the population could solve it correctly within the 30-second time limit. Your time starts now:
Rearrange the letters of "NEW DOOR" to make one word.
Answer below
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