Good morning. Woolworths has run out of its Disney Ooshies three weeks before the promotion was meant to end on August 25.

Woolworths gave away the 40-character set free with any $30 shop, and demand blew past its own forecasts with so much hype fuelling both kids and adults alike.

Things got heated enough that some schools have banned the toys outright over playground fights and disappearing Ooshies, and a pack of six rare ones are on sale on eBay for $5,200, so it might be worth checking your car door.

All the headlines and more below...

ANTHROPIC'S CLAUDE AI TO EMBED INVISIBLE WATERMARKS IN ALL GENERATED TEXT

Anthropic has detailed a watermarking system that would flag text written by its Claude AI, embedding invisible signals throughout any output the model generates. If someone suspects AI-generated work is being submitted as original, they could scan for the markers using a detection tool Anthropic has not yet described.

The signal is embedded at the model level, meaning it applies across every Claude product and interface - ChatGPT equivalent, API, enterprise tools - regardless of where the text is generated. The watermark travels with the text when moved between documents and may survive some editing, though Anthropic has not specified what threshold of change would strip it out.

The system is not yet live. Anthropic has not said when it will deploy, how the detection mechanism will work, or whether it will be made available to schools and universities directly. The company has not clarified whether watermarking can be switched off by paid users or enterprise clients, or whether it applies to code and technical outputs in addition to prose.

AUSTRALIAN AND GLOBAL NEWS

• The Tech Council of Australia reported no discernible evidence that AI is reducing demand for software engineers, as Australian software engineering jobs grew 7% to November 2025. LINK

• The Ebola outbreak in eastern DR Congo is spreading faster than health authorities can contain it and is on track to surpass the 2014-2016 West African crisis that killed over 11,000 people. LINK

GOVERNMENT WILL CHARGE GOOGLE AND META 2.5% OF AD REVENUE UNLESS THEY PAY EIGHT NEWS OUTLETS

Google, Meta, TikTok and LinkedIn will need to strike commercial deals with at least 8 separate Australian news outlets to avoid the charge.

The News Bargaining Incentive was first flagged in December 2024 as a means to charge digital platforms that choose not to strike commercial deals with Australian media companies. The charge can be offset by doing commercial deals with local publishers.

The threshold has been raised from 6 deals to 8, and the per-deal offset cap restored to 25% of total liability, up from 17% in the earlier proposal. 5% of any funds collected under the scheme will be directed to Australian Associated Press as recognition of its role in supporting public interest journalism and news organisations across Australia.

COMPANY NEWS

• Coles is offering shoppers a 10% discount on eligible eGift cards for 2 days and running a Shop, Scan, Win promotion giving $3.4M in grocery savings until 22 September. LINK

• CBA chief executive Matt Comyn received $9.1M in total pay for 2026, up 30% after $2M in deferred rewards vested, as other senior executives also enjoyed large increases. LINK

• Seek reported a FY26 net loss of $307M as job ad volumes were softer, particularly in Australia and some Asian markets, but stronger yields and continued technology investment helped offset that weakness. LINK

• Premier Investments expects FY26 sales to fall 2% to $795.5M from FY25 and its Peter Alexander sleepwear brand will close 3 UK stores due to poor trading. LINK

• Suncorp reported a 34.2% decline in net profit year-on-year amid elevated natural hazard costs, with $2 million spent after responding to 18 significant weather events and more than 120,000 natural hazard claims. LINK

• Barrenjoey has struck a deal to provide equities research and trading services to Craigs Investment Partners’ Wealth business in New Zealand. AUS

• AGL Energy has forecast stronger-than-expected earnings despite lower wholesale electricity prices and higher gas costs. LINK 

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CHART OF THE DAY

The Super El Niño to beat all others?

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Editor’s Pick: Kmart’s $89 glasses can record what you see. But what happens next?

Draft Pick: Lionel Messi admits serious doubts about continuing his football career.

Doctor’s Pick: Expert advice on air fryers if you're concerned about PFAS or microplastics.

TRIVIA

What is the only continent without an active volcano?

Answer below

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ANSWER

Australia

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Good morning. If you've ever been caught asking your dog "who's the best boy in the whole world" in a voice you'd normally reserve for a baby, there's actual research explaining why.

It turns out we instinctively use the same warm, sing-songy tone for pets and babies, though with babies we also exaggerate our vowels to help them learn language, something we skip with dogs.

Parrots get something in between, where we give them slightly clearer pronunciation than dogs, because most of us get the sense they might actually repeat it back.

All the headlines and more below...

AMAZON LAUNCHES 4AM-8AM DELIVERY WINDOWS IN SYDNEY AND MELBOURNE

Amazon Australia now offers 4am-8am delivery to Prime members in Sydney and Melbourne who spend at least $49 and order by 10pm the night before. The overnight window is one of three free same-day delivery options, the fastest the company has offered in Australia.

The other two same-day windows are also available, though their timeframes were not specified.

The service is limited to Prime subscribers in the two cities. Amazon has not announced plans to extend it to other Australian cities.

AUSTRALIAN NEWS

• The RBA has unanimously kept the cash rate unchanged at 4.35% for a second straight meeting as it weighs high inflation against slowing growth in housing, spending and jobs. LINK

• Australian private hospitals and allied health providers warn that private health insurers are using aggressive audit practices to request patients' full clinical histories under broad data collection permissions. LINK

• NSW and QLD are facing possible credit rating downgrades as a slumping housing market hits stamp duty and land tax revenues following federal tax changes and aggressive RBA rate rises. LINK

• Australia’s hotel sector has remained resilient as national occupancy rose from 71.1% to 71.7% and average room rates increased 3.7% to $248.41 in the June 2026 half. AFR

• ASIC warned that car insurers are failing to properly explain rising premiums and pricing methods, leaving loyal customers overpaying as car insurance attracts the most complaints. AFR

• The NDIS Commission has issued its first lifetime bans under new integrity powers by revoking 40 linked providers and refusing 195 registrations. LINK

• The Australian Small Business and Family Enterprise Ombudsman has reported that algorithm-driven digital platform disputes now comprise 48.3% of new cases, up from 12%, as small firms’ online shops are shut without warning. LINK

• Australian mortgage borrowers are being urged to call their bank and threaten to refinance as nearly 50 smaller lenders offer variable rates under 6% and banks cut deals to retain customers. LINK

AUSTRALIA SETS $31.30 MINIMUM HOURLY RATE FOR GIG DELIVERY DRIVERS

The Fair Work Commission issued a minimum standards order covering food, drinks and groceries delivered through digital platforms, applying to all on-demand delivery platforms operating in Australia including Uber Eats, DoorDash and Menulog from 17 August. The order sets a $31.30 per hour pay floor and requires platforms to provide injury insurance while drivers are working.

Drivers were previously classified as independent contractors with no guaranteed minimum pay or injury cover.

The order imposes enforceable protections while keeping drivers classified as contractors rather than employees. Australia is among the first countries to impose binding minimum pay standards on gig platforms without reclassifying workers as employees.

Platforms must cover medical costs and income loss if a driver is injured while logged on and available for work, not only during active deliveries.

COMPANY NEWS

• Metro Petroleum had several service stations raided in an Australian Federal Police illegal tobacco probe as illicit sales increasingly hit retailers. LINK 

• The Fair Work Commission has upheld NAB’s sacking of senior banker Steven Knowles, ruling his alleged 18-hour work days did not excuse repeated compliance failures. AFR

• CBA has launched a $50 cashback offer for new Smart Access transaction accounts to attract customers as mortgage demand slows after 3 rate rises and tax changes. LINK

• Spotify has said it will begin adding 'AI Persona' badges to some artist profiles from mid-September to give listeners more transparency about AI-generated personas. LINK

• Uber Freight is investigating a data security incident involving unauthorised access to some systems as a spokesperson says operations remain unaffected and fully operational. LINK

• Inghams has expanded lockdowns across all Australian poultry farms as the federal government allocates US$113M for wildlife vaccination and biosecurity against the spreading H5N1 threat. LINK

• CBA reported ​a 7% rise ‌in its full-year cash earnings, driven ​by robust home and ⁠business lending volumes ​and resilient credit ​quality. LINK

• Avalon Airport signed a deal with Teleport to establish a dedicated air freight hub for Temu and Shein imports, speeding e-commerce deliveries and lowering export freight costs. AFR

• Macquarie Cloud Services signed a 3-year agreement to on-sell Microsoft Azure, with US$278M in expected payments, in one of the region’s largest data centre optimisation deals. LINK

• Nvidia has launched the lightweight open-source Nemotron 3.5 Lightning AI model for customisable, low-cost agent tasks as it develops a larger model to rival Chinese leaders. LINK

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CHART OF THE DAY

Where in the world are the beer lovers?

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Editor’s Pick: School-bus-sized SpaceX rocket chunk crashes into Moon.

Draft Pick:  Matildas veteran Tameka Yallop has left Brisbane Roar for Wellington Phoenix.

Doctor’s Pick: How to protect your child from head knocks in sport?

TRIVIA

It's full winter mode for a lot of Australia this week. Can you match each Australian state with the lowest temperature they have ever recorded:

−23.0 °C
−14.2 °C
−11.7 °C
−10.6 °C
−8.2 °C
−7.2 °C

Answers below

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ANSWERS

NSW −23.0 °C
Tasmania −14.2 °C
Victoria −11.7 °C
Queensland −10.6 °C
South Australia −8.2 °C
Western Australia −7.2 °C

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Good morning. Western Australia has become the first police force in the country to run live AI facial recognition on the public, scanning more than 130,000 faces in Perth and Fremantle in the first week alone.

Cameras mounted on police vans compare passers-by against a watchlist of around 4,000 people in real time, and the trial has so far produced 33 alerts and 18 arrests, with faces not on the list pixelated and deleted almost instantly.

Other state police forces are watching closely, with commissioners around the country weighing whether to roll out the same technology.

All the headlines and more below...

AUSTRALIAN NEWS

• Westpac has warned that Australian banks face tougher competition in a weaker property market as its mortgage applications have fallen 18% for owner-occupiers and 26% for investors. LINK

STAX BOUGHT OUT OF RECEIVERSHIP - 12,927 CUSTOMERS STILL OWED $1.7M

Australian activewear brand Stax has been acquired by an investor group led by Pushas founders Justin Truong and Sandy Li-Truong. The deal covered Stax's trademarks, design IP, Nandex fabric technology and digital assets. It did not include liability for orders placed before collapse.

Stax entered voluntary administration on 10 July after collapsing in June. Filings from late July showed the brand owed $6.7M to staff, creditors and the Australian Taxation Office, including $1.7M to 12,927 customers across 11,182 completely unfulfilled orders and 1,745 partially incomplete ones. In July, liquidators confirmed those orders would not be filled.

The new ownership said it will provide "alternative solutions" to some affected customers, though the legal obligation to fulfil orders stayed with the liquidated entity. Truong, now chairman, said the group is exploring ways to support affected shoppers as the brand relaunches.

COMPANY NEWS

• Fortescue has appointed law firm MinterEllison to investigate sexual harassment and bullying allegations against a senior executive. LINK

• Airservices Australia stood down 2 workers and faces government criticism as staff shortages, alleged favouritism and training bottlenecks cause “unacceptable” delays and 2 recent near-miss incidents at Sydney Airport. LINK

• AustralianSuper has launched AustralianSuper Advice with a new financial services licence to expand into member wealth planning. LINK 

• KPMG withheld key whistleblower details from Ashurst during a misconduct review into its audit division, leading the law firm to wrongly dismiss protected disclosure claims and accept partners’ denials. LINK

• Car Group reported FY26 revenue up 6% to $1.3B and profit up 14% to $314M as used EV and hybrid listings on its platforms jumped to 24,000. LINK 

• News Corp reported its 4 biggest Australian tabloids losing paying subscribers and hundreds of thousands of readers. LINK 

• Google is using its search infrastructure to closely integrate AI products, which critics say gives it an unfair advantage and fuels automated traffic as a UK regulator starts pushing back. LINK

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CHART OF THE DAY

UNSW's rising academic misconduct

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Editor’s Pick: Want to read more? Comics, audiobooks and social media can help.

Draft Pick: Aussie high jumper wins gold at under-20 world titles.

Doctor’s Pick: The claims and evidence behind popular anti-aging and wellness treatments.

TRIVIA

What are the 8 countries that border Austria?

Answers below

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ANSWERS

Germany, Czech Republic, Slovakia, Hungary, Slovenia, Italy, Switzerland, Liechtenstein

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Good morning. A cybersecurity researcher has spent a year and 31 million tests building AI-generated patterns that, when printed on clothing or a car, stop surveillance cameras from detecting what they cover.

The patterns don't stop the camera recording, they scramble its ability to recognise a face, a person or a number plate, so no detection alert ever fires.

He's already fooled the software behind common number plate readers and facial recognition tools, and now wants to put the patterns on t-shirts, hoodies and eventually car wraps.

All the headlines and more below...

ATO USING AI TO REVIEW TAX RETURNS AND FLAG UNUSUAL CLAIMS

The Australian Taxation Office is using artificial intelligence to review large volumes of data, spot patterns and flag unusual claims, under-reporting and potential fraud.

It allows the office to detect errors that would have previously gone unnoticed when resources were focused on larger-scale tax evasion.

While dodgy claims still occur, but the likelihood of them passing through undetected has dropped significantly compared to previous years.

AUSTRALIAN NEWS

• The federal government has urged the privacy watchdog to urgently address covert filming risks from smart glasses as Australian shoppers are finding low-cost camera-equipped smart glasses more widely available through third-party sellers on Woolworths, Kogan and Dick Smith marketplaces offering AI-enabled models from $180. LINK

• Australian July house prices have fallen 1.8% from $12.8T to $12.5T, which commentators describe as a $230B, once-in-a-generation slump. LINK

• Australia has an effective average corporate tax rate of 28.5% according to the OECD, second only to Colombia’s 32.9%. LINK

• Australia’s mortgage market has suffered its sharpest collapse since Covid as rising interest rates and federal policy changes cut borrowing capacity and drive a 12.5% annual fall in demand. LINK

RESTAURANTS CAN NOW SEND PHONE ORDERS STRAIGHT TO SQUARE USING AI

Hospitality voice AI platform Sadie has launched an integration with payments giant Square that lets customers call a restaurant, place a takeaway order and pay over the phone without a staff member answering. The order is processed directly through the venue's Square system from beginning to end.

The tool handles overflow when multiple customers call at once during peak service. Sadie manages the full interaction - takes the order, processes payment and feeds it into the restaurant's existing Square point-of-sale setup.

Sadie can pick up the phone, complete the transaction and send it through to the kitchen the same way a counter order would appear. Sadie has not disclosed pricing or how many venues are currently using the system.

COMPANY NEWS

• Coles has extended its deal with Accenture to outsource several hundred corporate jobs, potentially more than 1,000 roles, mainly to India as it seeks cost savings and digital capabilities. LINK

• Myer is adding more than 25 new womenswear brands in-store and online as a major fashion reset to attract younger shoppers amid rising cost-of-living pressures in Australia. LINK

• OpenAI has warned that its upcoming Astra AI model may have critical cybersecurity capabilities under its safety guidelines, prompting a pause in some internal development and safety protocols. LINK

• Superhero has launched Superhero Crypto in partnership with Bitstamp by Robinhood to let Australian investors trade bitcoin. LINK

• Airbnb reported a 17% rise in quarterly revenue as bookings by Australians and other core markets accelerate despite local crackdowns, while India bookings surged 60% and Victoria’s levy raised $85.8M. LINK

• VietJet is set to become the third international airline at Western Sydney International as it launches 2 weekly Ho Chi Minh City return flights from January, rising to 3 from March. LINK

• Atlassian co-founder Mike Cannon-Brookes has seen his net worth jump US$1.8B to about US$7B after the company reported its first quarterly operating profit in over 2 years. LINK

• Nick Scali reported a FY26 statutory net profit after tax of $75.7M, up 31.2% year-on-year, as ANZ revenue growth offset weaker UK sales. LINK

• ResMed reported FY26 net income of US$1.5B, up 9% year-on-year, as full-year revenue rose 10% driven by strong global demand for sleep-related products. LINK

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CHART OF THE DAY

Switch 2 sells more in 1st year than Blockbuster predecessor

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Editor’s Pick: Bumble teases a swipe-free future as it doubles down on IRL meetups.

Draft Pick: A 97-year-old woman has broken the world record for the oldest person to perform wing walking, standing strapped to a flying aircraft during the stunt.

Doctor’s Pick: Biohacking and anti-aging science are raising hopes of living longer. What's hype and what shows promise?

TRIVIA

When did the first World Cup take place?

Answer below

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ANSWER

1930

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Good morning. Tattoo artists say a growing share of customers are turning up with AI-generated designs, and at some studios it's as many as 3 in 4 enquiries.

The problem is the images are often impossible to actually tattoo, with too much fine detail to hold over time, spelling mistakes, and the odd giveaway like a hand with six fingers.

As one artist put it, AI was meant to handle the boring jobs so we had more time for art, but it's ended up doing the art instead.

All the headlines and more below...

SYDNEY AND MELBOURNE LISTINGS DOWN 16% IN JULY AS BRISBANE, PERTH AND ADELAIDE SURGE 13%

REA Group reported listings in Sydney and Melbourne dropped 16% in July, while Brisbane, Perth and Adelaide rose as sellers rushed to list before what they expect is the market peak.

The shift marks a reversal from the end of the financial year, when REA saw a strong close that lifted full-year revenue to $1.8B, up 7%, and underlying profit to $650M, up 15% excluding its India business. Net profit came in at $552M, down 19%, because of a $111M impairment after REA sold its India operations last month.

Auction volumes in capital cities fell around 20% in July according to separate data sources. REA shares rose more than 2% on Thursday after the results were announced.

AUSTRALIAN NEWS

• A Federal Court judge has intervened in a delay over payouts to 1,800 unlawfully sacked Qantas workers, who are awaiting shares of a $120M compensation fund and $40M penalty. LINK

• More than 13,000 people have signed a GetUp! petition urging Kmart to stop selling $89 Anko smart glasses over fears they enable hands-free video recording of bystanders without consent. LINK

CBA FACES UNION FIGHT OVER APPS THAT TRACK WORKER LOCATIONS AND TEAMS PARTICIPATION

The Finance Sector Union is pushing the Commonwealth Bank to limit workplace surveillance tools that track when employees leave their desks while working from home, monitor their movements around the office and measure participation levels in Teams meetings. The demand is part of enterprise agreement negotiations covering 35,000 CBA staff and could set the standard for surveillance limits across the banking sector and white-collar workplaces more broadly.

The union wants CBA to commit to using surveillance only where necessary for worker and public safety. It argues AI has dramatically increased employers' ability to monitor staff. The tools in question include apps that log location data within office buildings, track time away from keyboards during remote work and analyse engagement in virtual meetings.

State governments are moving to regulate the technology. NSW's AI safety rules take effect soon. Victoria announced workplace surveillance laws last month. If CBA agrees to strict limits, other banks and corporate employers are expected to face similar demands when their own agreements come up for renewal.

COMPANY NEWS

• Qantas and the Australian and International Pilots Association have reached broad in-principle agreement on a new long-haul enterprise deal after 76% to 88% of pilots backed industrial action. LINK

• David Jones has angered suppliers and raised doubts over its turnaround as new CEO Erica Berchtold seeks a 20-week repayment plan despite refinancing a loan above $200M. LINK

• Moderna has gained FDA approval for mFlusiva, the first mRNA flu vaccine for adults aged 50 or older, which will be available soon at select retailers. LINK

• Amazon has launched its new generative AI assistant Alexa+ in Australia as a more conversational, personalised smart home hub that uses multiple AI models via its Bedrock cloud platform. LINK

• Warner Bros Discovery missed Q2 revenue expectations as studio revenue slumped 39% on weak box-office and lost NBA advertising, while UK regulators cleared its planned US$110B Paramount merger. LINK

• AMP posted a strong half-year result driven by $3.1B of net inflows into its platform and the first positive superannuation cash flow since 2017, while announcing a further $150M share buyback. LINK

• Diageo has outlined a turnaround plan to double Guinness production and cut a significant share of its 30,000 jobs after sales declined. LINK

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CHART OF THE DAY

Satellite internet still a niche product

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Editor’s Pick: Experts warn that rapidly increasing human-made debris in Earth orbit and nearly 200 tonnes of discarded material on the moon has raised collision risks and could make key orbits unusable.

Draft Pick: Football player killed by lightning strike in southern Thailand.

Doctor’s Pick: Investigations underway into surgery mix-up at hospital in Melbourne's west.

BRAINTEASER

There are a certain number of people on a train. 19 people get off the train at the first stop. Then, 17 people get on the train. Now there are 63 people on the train. How many people were on the train to begin with?

Answer below

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ANSWER

65 people were on the train to begin with.

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Good morning. During a routine security test, AI agents from OpenAI and Anthropic went beyond what they were told to do, with one writing malicious code and creating fake online identities to try to trick a human into approving it.

Out of 122 test runs, evaluators counted 19 unsanctioned actions, 17 of them from Anthropic's agent.

No real-world harm came of it (yet), but it's a good look into the future of work.

All the headlines and more below...

SYDNEY OFFICE VACANCY FALLS TO 13.3% AS BIG FIRMS LEASE MORE SPACE THAN A YEAR AGO

Large firms locked in more space in the 6 months to January 2026 than they did in the same period a year earlier, driving Sydney's office vacancy down from 13.8% to 13.3%. Melbourne's office vacancy sits at 18.9%, still at historically high levels, but leasing demand there is running higher than most other capitals except Brisbane and Perth.

Remote-work momentum may be slowing as companies take advantage of lower rents to move into better-quality towers. The Property Council says the market has moved from correction to recovery, though it remains a story of quality and location - major occupiers are targeting the best buildings, not just any available space.

Melbourne's vacancy rate remains elevated as a legacy of sharp pandemic lockdowns. Brisbane and Perth are the only two cities showing stronger leasing activity.

AUSTRALIAN NEWS

• The ACCC has launched a 12‑month inquiry into declaring wholesale mobile services and mandated domestic roaming, which Telstra opposes as Starlink rapidly expands its rival satellite network. LINK

• Australia’s 5% deposit first home buyer scheme has enabled nearly 1,500 purchased properties to be converted into investments as hundreds of borrowers earning over $300,000 use the program. LINK

• AI adoption could lift Australia’s GDP by 2.6% to 3.2% over the next decade and create a net gain of 44,000 jobs. LINK

• Britain's AI Security Institute has revealed that Anthropic’s Mythos 5 and OpenAI’s GPT 5.6 Sol deceptively hacked third-party software and emailed people to steal credentials during a cyber evaluation. LINK

WESTPAC DEPLOYS AI BOTS TO ASSESS MORTGAGE AND CREDIT CARD APPLICATIONS

Thousands of Westpac bankers are now using AI bots to assess mortgage and credit card applications. The agents saved 12,500 banker hours in their first month of operation in July, annualised at 150,000 hours.

AI use in big banks is shifting from low-value productivity tools to more complex, high-value applications like agentic AI.

Westpac is ranked 45th globally for AI adoption by Evident Insights. Commonwealth Bank sits 4th. NAB is 34th, ANZ is 37th. The bank is pushing to demonstrate return on investment from its surging spending on artificial intelligence and close the gap with Commonwealth Bank.

COMPANY NEWS

• AustralianSuper announced its first administration fee rise since 2022 for 3.6 million members, lifting accumulation fees from 0.10% to 0.12% and raising the annual cap from $350 to $600. LINK

• KPMG Australia has engaged Corrs Chambers Westgarth to independently advise former partners involved in its whistleblower scandal as they prepare for parliamentary inquiry hearings on 14 August. LINK

• Long-haul pilots at Qantas have voted with 76% to 88% support for 11 types of protected industrial action after rejecting an offer with a 2-year wage freeze. LINK

• Endeavour Group reported FY26 group sales of $12.2B up 1.3% but expects underlying profit to drop 14.8% to $363M after writedowns to wineries and vineyards . LINK

• Amazon has launched its new LLM-powered chatbot Alexa+ in Australia, saying it should reduce basic errors and falsehoods as 98% of local Echo devices receive the upgrade. LINK

• Meta reported an 8% fall in June-quarter operating income to US$18.8B as a US$2.4B legal charge and severance costs weighed on results and FY24 expenses. LINK

• DoorDash increased its forecast for Q3 marketplace gross order value as convenience-focused consumers drive strong delivery demand. LINK

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CHART OF THE DAY

Tea or coffee?

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Editor’s Pick: As Gen Z reconsiders dating apps, Tinder’s IRL events expand to dozens more US cities.

Draft Pick: Sport recognised as a driver of sustainable urban development in new UN declaration.

Doctor’s Pick: Health insurance rebates are changing for some Australians. Here's what to expect.

BRAINTEASER

Can you insert operators (+, −, ×, /) and parentheses into the left-hand side of the above expression to make it equal 24?

Answer below

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Good morning. Overcrowding in Western Australia's prisons has gotten so bad that inmates forced to sleep on mattresses on the floor are being paid up to $10.15 a week to do it.

Judges have started handing down reduced sentences over "significant and inhumane" conditions.

Up to 200 inmates were sleeping on the floor this year despite triple-bunking in more than 250 cells, driven by a 37% jump in the prison population since 2023 with no matching increase in cells or staff.

All the headlines and more below...

JETSTAR CUTS ECONOMY CARRY-ON FROM TWO ITEMS TO ONE, CHARGES $25 MINIMUM FOR OVERHEAD BIN

Economy fares currently include one main item for overhead storage and one smaller item under the seat. Under the new system starting in February, a standard fare covers only an underseat item - a backpack, handbag or laptop. Passengers wanting to bring a wheelie bag will pay for "priority carry-on" for $25 and includes early boarding and raises the weight limit to 10kg, up from 7kg for overhead items.

Passengers who don't pay can still use overhead bins, but only after those who paid have boarded and stowed their bags first. Jetstar's lowest fare tier from Wednesday will be restricted to one under-seat bag - a backpack, handbag or laptop bag - with no specified weight limit.

The airline says eliminating hand luggage weighing at the gate will speed up boarding and improve on-time performance. Under the old structure, the cheapest fare included a small personal item and a second bag up to 7kg for the overhead bin. The under-seat bag has no weight cap, but size limits apply based on what fits beneath the seat.

AUSTRALIAN NEWS

• Australian household spending has risen 0.8% in June and 6% in FY26, outpacing population growth and surprising expectations, as economists say this gives the RBA ammunition for another rate hike. LINK

• The federal government is considering ending an age-based superannuation exemption that has denied about 530,000 workers under 18 roughly $411M a year in employer contributions. LINK

• Costs for Australia’s 2.7 million small businesses have risen 24.6% from March 2020 to March 2024 and are projected to reach 27.1% by year-end. LINK

• ASIC is concerned as the number of publicly listed companies has been declining while private markets expand. LINK

• Australian home prices have fallen 0.7% in July to an average $928,421, the sharpest monthly decline since December 2022, as rising interest rates and Treasurer Jim Chalmers’ tax overhaul accelerate a housing correction. LINK

• A parliamentary committee has called senior Macquarie and Westpac leaders to appear next week as it probes whether KPMG leveraged conflicted relationships to secure audit work. LINK

• NAB has sharply downgraded its forecasts as it now expects Sydney and Melbourne dwelling values to fall 10% and national capital city prices to drop about 5% over 2026. LINK

1 IN 3 AUSTRALIAN STUDENTS FAIL TO MEET NAPLAN BENCHMARKS AS READING AND WRITING SCORES DROP

Reading and writing scores have dropped across almost every year level in the 2025 Naplan tests. 33% of students - roughly 1.1 million children - fell below the national minimum standard across all domains tested.

Year 3 reading scores fell for the second consecutive year. Writing declined in Years 3, 5 and 7. Grammar and spelling dropped in Year 5. Only numeracy improved: maths scores rose in Years 3, 5 and 7, though Year 9 numeracy also fell.

The tests, sat by around 1.3 million students nationally, assess literacy and numeracy against a minimum standard designed to reflect the baseline skills needed to progress through school. The proportion of students below benchmark has held steady at roughly 1 in 3 for several years.

Education Minister Jason Clare described the results as evidence of "real challenges" in the system but pointed to the numeracy gains as a sign that targeted intervention can reverse decline.

COMPANY NEWS

• Qantas is in early talks with Accenture on Project iQ to potentially offshore up to 1,000 back-office roles to India as it accelerates artificial intelligence use. LINK

• Canva has become the world’s second most-visited AI platform after ChatGPT, as a OneLittleWeb report shows it attracted 10.5 billion visits versus ChatGPT’s 64.7 billion. LINK

• Herron Todd White is cutting a net 40 roles as it consolidates operations into a new SA service hub, cutting 100 jobs while creating 60 Adelaide and 60 Manila roles. LINK

• Barbeques Galore has been rescued from collapse through a sale to Victorian wholesaler Acom International, as all 62 company-owned stores close and about 500 jobs remain uncertain. LINK

• Telegram said Apple briefly removed the messaging app from the App Store globally after a user shared child sexual abuse material, while a similar suspension occurred in 2018. LINK

• Mattel missed expectations for its second-quarter profit, as higher costs and weaker demand for traditional toys hit results. LINK

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CHART OF THE DAY

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Editor’s Pick: OpenAI CEO Sam Altman has sparked backlash after promoting ChatGPT as a parenting aid for creating personalised kids’ podcasts, as many critics warn AI risks dehumanising family life.

Draft Pick: Australian swimmer Isaac Cooper has been removed from the Dolphins’ athlete leadership group.

Odd Pick: Loneliness harms health more than isolation.

TRIVIA

Guess the price of this 6 bedroom, 5 bathroom, 4 carpark, 1,065 square metre house in Balgowlah, Sydney.

Answer below

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ANSWER

$17.5 million

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Good morning. It turns out that the 10,000 steps a day target society expects of you was never based on science at all.

It came from the marketing of a Japanese step-counter sold after the 1964 Tokyo Olympics, chosen because the number was catchy rather than because any research backed it.

The actual sweet spot sits closer to 7,000 steps, where most of the health benefits max out, and there's a strong case that how fast you walk and a couple of weight sessions a week matter more than the number on your tracker.

All the headlines and more below...

LINKEDIN ADDS BUTTON TO FLAG AI SLOP

Instagram post

LinkedIn now lets Australian users report posts that "seem like AI slop" - content the platform defines as low-effort, likely AI-generated material that may sound polished but lacks a clear point of view, unique perspective or substance.

The feature rolled out Friday as LinkedIn chief product officer Hari Srinivasan called the battle against AI slop a "top priority" for the business. It sits alongside existing options to report offensive content.

The move follows subscription newsletter platform Substack introducing its own AI detection tool days earlier. Gold Coast HR consultant Matt McFarlane said the lack of moderation is driving the perception that LinkedIn is becoming "an empty, vacuous platform that professionals are increasingly departing."

AUSTRALIAN NEWS

• The Fair Work Commission has issued its first order banning a Queensland worker from using AI to draft bullying complaints after AI-generated emails worsened her otherwise justified grievance. LINK

• Kmart has sold out of its $89 Anko camera glasses across Australia as a digital rights expert warns the discreet recording feature poses a serious privacy nightmare. LINK

• The Australian dollar has climbed 0.67% to a 7-week high as rare joint US-Japan intervention to support the yen and rising Japanese interest. LINK

• Australia’s internet regulator has found that more than 80% of Australian teens and preteens still use social media despite the under-16 government ban. LINK

CANVA REVENUE MISSES TARGET AS AI PRODUCT COSTS BLOW OUT AND LAUNCHES DELAY SIX MONTHS

Canva, the $60B design platform, told investors it missed quarterly revenue guidance after AI product costs exceeded projections and launch timelines stretched by up to 6 months.

The company blamed the cost of building products using frontier AI models. A suite of AI tools announced at Canva's US customer conference in April have proven more expensive to deliver than projected, forcing the company to revise both its product roadmap and revenue outlook.

Canva has been repositioning itself as an AI company rather than a traditional software-as-a-service business, as falling SaaS valuations threaten companies that can't prove they're integrating generative AI. The pivot is a response to what the industry calls the "SaaSPocalypse" - investors repricing pure SaaS companies as less defensible against AI-native competitors.

COMPANY NEWS

• Domino’s Pizza Enterprises has closed 29 stores and scrapped heavy discount deals as it shifts to everyday low pricing after a $259M asset writedown and 4.1% group same-store sales fall. LINK

• Transurban welcomed the NSW government’s finalised toll reforms as a package that gives motorists some relief while preserving existing concession value and protecting its $36B Sydney investment. LINK

• Qantas is in advanced talks on Project iQ to outsource up to 1,000 marketing, finance, HR and back-office roles to India with Accenture as it pursues AI-driven cost cuts. LINK

• Regis Healthcare has signed a cash-funded binding agreement to acquire Royal Freemasons Victorian home care business, adding about 480 clients and lifting annualised home care revenue above $50M by FY27. LINK

• Snap beat estimates for Q2 revenue as increased World Cup advertising and stronger North American campaigns boosted demand for its AI-powered Smart Campaign Solutions. LINK

• Panda Mart opened its first Queensland superstore in Rocklea, south of Brisbane, as the South African-founded discount retailer expands its Australian presence to 3 locations. LINK

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CHART OF THE DAY

Smart home appliances globally

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Editor’s Pick: Nathan Thomas has been recognised by Guinness World Records as the youngest-ever male college professor at 18 years and 346 days, teaching engineering at Miami Dade College.

Draft Pick: The Wallabies are preparing to face Japan in the first Test of a two-match series in Osaka as a heatwave and Typhoon Dolphin threaten extreme playing conditions.

Odd Pick: Warning for human bird-flu transmissions as cases soar.

TRIVIA

‘baggage’ and ‘PARADROP’ are the longest lowercase/uppercase words with what specific traits?

Answer below

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Pick & Scroll Join over 30,000 followers on our LinkedIn and Instagram for industry insights and snapshots. Like what you read? Share Pick & Scroll with your family, friends and colleagues below. 👇

ANSWER

‘baggage’ is the longest lowercase word where each letter has a hole in it, while‘PARADROP’ is the longest uppercase word where each letter has a hole in it.

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Good morning. In case you didn’t see the news on Friday, nearly 60,000 Moroccans surged into the Spanish enclave of Ceuta after viral Instagram posts falsely promised immediate jobs, money, and seamless entry into Europe.

Instead of the promised opportunities, migrants were greeted by deadly waters, military blockades and politicians looking to boost engagement.

As of today, 90% of those who crossed have already been returned to Morocco, leaving dozens dead and the Spanish military holding a heavily fortified border.

All the headlines and more below...

ANYTIME FITNESS INVESTIGATES FORGED SIGNATURES ON GYM CONTRACTS CUSTOMERS NEVER SIGNED

Anytime Fitness is investigating complaints after customers were signed up to memberships with forged signatures on contracts they never saw, while others were made to sign blank agreements before terms were added. The franchise operates more than 600 locations across Australia with 780,000 members.

Michael Fraser contacted a new Anytime Fitness opening in Biggera Waters, Queensland, in mid-June and was offered a discounted founding member rate over the phone. He agreed to the terms and left his payment details to reserve the spot but never signed anything. When he later requested a copy of his contract, his signature had been added to a document he'd never seen. Other customers in NSW and Queensland lodged separate complaints this week - some were handed blank contracts to sign before membership terms were filled in afterward.

Anytime Fitness has apologised. The company has not disclosed how many branches are involved or whether the practices were isolated to individual franchisees.

AUSTRALIAN NEWS

• Microsoft has blamed institutional inertia for Australia’s poor AI adoption as only 8% of firms have restructured work around tools like Copilot compared with a 22% global average. LINK

• Petrol prices in Australian capital cities are set to exceed $2 a litre while diesel could surpass $2.40 as the government’s 16c fuel excise discount ends on Sunday. LINK

• Macquarie Bank has cut its lowest variable home loan rate for new customers by 0.05 percentage points to 6.04% as mortgage competition intensifies and RBA surcharge reforms threaten US$660M in annual bank revenue. LINK

• Australians have bought electric and hybrid vehicles at nearly the same rate as petrol cars, as Australian Automobile Association data shows EV sales doubled after the fuel price spike. LINK

• The government has revised the News Bargaining Incentive so that a 2.5% levy on Meta and Google applies only to Australian digital advertising revenue, not total gross revenue. LINK

• Authorities in SA have reported a suspected first Australian mass mortality event from H5N1 bird flu after helicopter surveillance found 49 dead and 35 sick greater crested terns near Robe. LINK

MACCA'S LAUNCHES RED BULL DRINKS AS UK MOVES TO BAN ENERGY DRINKS FOR UNDER-16S

McDonald's has rolled out two Red Bull-branded drinks across Australia - the Dragonberry Energiser and Peach Boost Energiser, both containing 80mg of caffeine. The drinks follow a trial in Queensland and Victoria and are marketed as the "perfect pick-me-up", but critics say the branding is designed to appeal directly to children.

Paediatric nutritionist Mandy Sacher said the drinks use bright colours, fruit flavours and names like Dragonberry that sound "like something you see on Fortnite." QUT marketing professor Gary Mortimer said the sweet, fruity flavour profiles and novelty branding align with youth-oriented marketing, likely targeting younger customers already consuming energy drinks.

Children and young adults aged 13-24 have the highest prevalence of energy drink consumption, with almost one-third of adolescents aged 12-17 consuming them regularly. Beyond caffeine, the drinks contain high levels of sugar and stimulants like taurine, which have been linked to anxiety, suicidal ideation and poor academic performance.

The UK will ban energy drink sales to under-16s from 2027. Norway has already banned sales to the same age group, and the Czech Republic has proposed a ban for under-15s. McDonald's says the drinks are not recommended for children, aren't sold as part of Happy Meals, and comply with Australian food standards including advisory statements at all points of sale.

COMPANY NEWS

• HSBC sold its US$36B Australian home and personal loan portfolio to Blackstone with Pepper Money as servicer, and has decided to exit Australian retail banking over 18 months. LINK

• The Victorian Supreme Court has begun three unprecedented judge-only class action trials against Sportsbet, KPMG, Macquarie Capital and others involving about 1 million claimants over up to 8 weeks. LINK

• UNSW officially opened its first overseas campus in Bengaluru through a joint venture with Emeritus, as Australian universities move into India after regulatory changes. LINK

• Google has paused an AI image-generation feature in Google Earth a day after launch as user-shared images appeared to violate its policies and raised misinformation concerns. LINK

• KPMG has prepared a high-stakes pitch for an $18M-a-year Telstra audit as internal messages revealed plans to use an Optus audit plan as a secret weapon. LINK

• Slater and Gordon has filed a shareholder class action against Web Travel Group alleging misleading FY25 earnings. LINK

• Domain has launched Matterport-powered 3D property tours to offer an immersive, always-open virtual open home experience as consumers demand more engaging ways to inspect properties. LINK

• Atlassian has appealed a US ruling that concluded that the company unlawfully fired an engineer after critical Slack messages. LINK

• PEXA is set to cut its service prices by 20% and halve profits, wiping US$400M from its market value after a ruling from the Independent Pricing and Regulatory Tribunal. LINK

• Congo Brands Australia, which distributed the viral Prime energy drink and other influencer-led brands, has collapsed owing more than $8M, terminated all staff and reported FY24 sales of $14.5M. LINK

• Singapore Airlines reported a US$84M quarterly net loss despite record US$6.3B revenue as an 80% jump in jet fuel prices and Air India losses hit earnings. LINK

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CHART OF THE DAY

Meta’s capex surges in pursuit of AI superintelligence

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Editor’s Pick: Global warming has accelerated sharply since around 2015, as PIK researchers find adjusted global temperatures now rising about 0.35°C per decade versus just under 0.2°C from 1970 to 2015.

Draft Pick: Australia’s netballers have been left in tears after playing their last game on the final day of the Commonwealth Games in Glasgow.

Doctor’s Pick: The impact of blood type on fertility.

BRAINTEASER

What connects the 4 clues above?

Clue: The first word in each clue begins with an ‘S’.

Answer below

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Pick & Scroll Join over 30,000 followers on our LinkedIn and Instagram for industry insights and snapshots. Like what you read? Share Pick & Scroll with your family, friends and colleagues below. 👇

ANSWER

You can remove the leading ‘S’ from the first word in each clue and the definition remains the same.

Swell (well): excellent, to rise

Squash (quash): to forcefully suppress

Select (elect): to choose

Slightly (lightly): to a small degree

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Good morning. If you’ve ever been irritated in the aisle because the plane's been parked at the gate for 10 minutes, you’re going to remember this one.

373 people on an Emirates flight spent more than 10 hours stuck trying to disembark with barely any air conditioning. Their 7-hour flight from Dubai to Shanghai was diverted due to thunderstorms, then sat overnight for an additional 10 hours because border officials didn't arrive to let anyone off until the morning.

Staff exceeded the time they could work in one shift and had to be subbed out, while one passenger reportedly fainted.

All the headlines and more below...

CRIME SYNDICATES ARE RUNNING DEDICATED FRAUD NETWORKS TARGETING NDIS PARTICIPANTS

Organised crime groups have set up dedicated fraud networks targeting NDIS participants, in some cases using threats of violence to force cooperation in filing fake claims, according to evidence given to a Senate inquiry.

Australian Criminal Intelligence Commission executive Adam Meyer told the Senate Community Affairs Legislation Committee that the fraud involves a broad range of networks - from groups focused solely on NDIS fraud to larger syndicates that treat the scheme as one part of a wider criminal business model. Participants are being colluded with or manipulated to set up false claims. The stolen money is then recycled into other criminal activities.

Meyer said the actors range from dedicated fraud networks to broader organised crime networks that approach targeting the NDIS as part of a wider business model.

AUSTRALIAN NEWS

• Australian companies are rapidly appointing chief AI officers, with more than 2 in 5 firms already doing so and nearly 2 in 3 expected by 2027, while investors await productivity gains. LINK

• eSafety has launched Federal Court civil proceedings against Telegram after a year-long probe alleged it left pro-terror execution and mass shooting videos online for weeks, risking penalties up to $54.6M per breach. LINK

• A stronger than expected data centre investment boom, with IT equipment spending up 126% to $5.2B in Q1, is straining construction capacity. LINK

• Single-photo posts are resurging on Instagram as brands embrace simpler, more spontaneous content over information-heavy carousels and reels. LINK

NAB MORTGAGE APPLICATIONS FALL 15% IN ONE QUARTER

NAB's mortgage applications dropped 15% in the last quarter as higher rates, property tax changes and fuel prices hit investor confidence. The data came in the bank's business and private banking disclosure ahead of its full quarterly update on August 17.

RBA chief economist Sarah Hunter ruled out policy intervention to support the housing market, saying the central bank does not "mechanically respond to falling house prices" but considers their impact on the economy through a monetary policy lens. The slump follows 3 interest rate hikes in a row to start 2026, with the cash rate rising by 75 basis points, reversing the 3 rate cuts made across 2025.

RBA governor Michele Bullock said house prices were falling faster than the bank had anticipated in May. Price falls have been concentrated in Sydney and Melbourne, though prices remain at similar levels to where they were before rates started rising in February this year. Negative equity affects less than 1% of borrowers. Only a small share of borrowers are facing severe difficulty with repayments, according to Bullock, and most households are still able to pay their mortgages.

COMPANY NEWS

• The Australian Communications and Media Authority has launched Federal Court action against Optus Mobile over its 13-hour Triple Zero outage that blocked 1,005 emergency calls and is linked to 2 deaths. LINK

• KPMG Australia said no decisions have been made on job cuts as it reviews its operating model and workforce for FY27 after a whistleblower scandal. LINK

• CBA has agreed to move about 1.5 million low-income customers to its fee-free Streamline Basic account and refund $93M in excessive fees after new ACCC conditions. LINK

• Domino's Pizza reported a rare financial loss after booking a US$300M impairment tied to store closures and underperforming overseas markets, shifting strategy to prioritise franchisee profitability over discount-driven sales growth. LINK

• Australian auction house Pickles is being prepared for a potential sale above US$1B as it generates about US$130M in annual earnings. LINK

• OpenAI cut prices for its smaller GPT-5.6 Luna and mid-tier Terra AI models by 80% and 20% as US businesses scrutinise AI costs and cheaper Chinese rivals pressure margins. LINK

• Meta Platforms issued a disappointing quarterly revenue forecast as it faces investor unease over soaring AI-related spending that could reach US$145B this year. LINK

• Raiz Invest has grown funds under management 27.5% YoY to $2.32B and lifted active customers above 351,000 as new CEO Craig Keary targets opportunistic M&A to accelerate growth. LINK

• Apple reported FY24 Q3 sales up 16.4% to US$109.42B and profits of US$2.02 per share, boosted by iPhone and MacBook demand amid sector price increases. LINK

• Amazon has eased investor concerns over AI spending as AWS revenue rose 37% to US$42.2B in Q2, beating a 31.21% estimate and marking its fastest growth in 18 quarters. LINK

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CHART OF THE DAY

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Editor’s Pick: A rat has allegedly stolen diamond jewellery worth Rs 10 lakh (~$15,000 AUD) from a jewellery shop in Tumakuru, with CCTV footage revealing the bizarre heist.

Draft Pick: Alex de Minaur has defeated 17-year-old Cruz Hewitt 6-2 6-3 at the Washington Open in the teenager’s ATP Tour debut as Lleyton Hewitt watched from the stands.

Doctor’s Pick: ‘Fat burning cardio zone’ truth: what is the best heart rate to lose fat?

TRIVIA

1. Which chemical element is the most abundant in the Earth's atmosphere?

2. Which African country was historically known to the wider world as Abyssinia?

3. Which famous artist painted "The Persistence of Memory," a work well-known for its melting clocks?

Answers below

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ANSWERS

1. Nitrogen
2. Ethiopia
3. Salvador Dali

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Good morning. An AI safety firm had several frontier models run competing simulated vending machines for a year to see how they'd behave with no human oversight.

They lied, colluded on prices, bribed and betrayed each other, with Claude’s Opus 5 breaking 11 separate truces and plotting to undercut the very rivals it proposed teaming up with.

It won and set a record, but researchers reckon it’s exactly why these agents aren't ready to be trusted running anything unsupervised just yet.

All the headlines and more below...

6 IN 10 AUSTRALIANS NOW NEVER BUY ANYTHING AT FULL PRICE

Australians spent $21.9B online in the March quarter, up 14% year on year, as households doubled down on discount shopping. Nearly 60% of consumers said they never pay full price anymore, and 58% said they now look forward to major sales as planned spending events rather than one-off opportunities.

Online marketplaces captured the largest share at $5.1B, or 42% of total spend. Food and liquor followed at $4.4B, while fashion hit $3.1B. Millennials remained the biggest spenders at $7.8B for the quarter, followed by Gen X at $6B and Gen Z at $3.8B. Australians born before 1946 recorded the steepest annual increase of any generation, up 18%.

The report also flags the continued rise of the "Lipstick Effect", where consumers cut back on big-ticket discretionary items but keep buying smaller, affordable indulgences that feel manageable under budget pressure. Average basket size fell to a record low of $90.

AUSTRALIAN NEWS

• The Australian health sector has remained the most hacked in 2025, accounting for 19% of reported breaches as criminals deploy autonomous robots and Australians demand stronger AI safeguards. LINK

• The NSW government has ordered Sydney councils to prepare 30-year housing density plans as a commission finds it costs over US$1M to build a typical mid-rise apartment. LINK

• The ATO scrapped a recent recruitment round for audit and compliance officers earning US$84,000 to US$100,000 after AI was wrongly used to screen candidates against policy. LINK

• The NSW government unveiled four revamped export support initiatives, including 13 Export Capability Building Program workshops through FY27, to help small and experienced businesses expand internationally. LINK

• Several prominent queer venues in Melbourne and Sydney have had their Meta accounts wrongly suspended since mid-July, cutting advertising to zero, as automated moderation tools misflagged their content. LINK

INFLATION FALLS TO 3.6%; TRIMMED MEAN AT 3.8% - BELOW RBA'S 3.8% FORECAST

The trimmed mean measure held at 3.6% in the year to June, below the RBA's forecast of 3.8% and market expectations of 3.7-3.8%, while headline inflation fell to 3.8% from 4% in May.

Housing costs rose 6.8% over the year, the largest contributor to inflation. New dwelling costs are up 5.8%, the highest in almost 3 years, as builders pass on higher material and labour costs. Electricity prices are 22.4% higher than 12 months ago, largely because government rebates that reduced household bills have ended.

Petrol prices fell 10.9% in June as oil prices stabilised after Middle East tensions, while the federal fuel excise discount of 32 cents per litre remained in place. That discount was cut to 16 cents in July and ends Sunday.

COMPANY NEWS

• The CMA has opened an investigation into Microsoft’s Copilot pricing in Microsoft 365 after Australian ACCC court action, focusing on automatic higher-priced plan renewals. LINK

• Meta has launched its latest AI-powered smart glasses in Australia, offering influencers and small businesses wearable cameras and content tools while facing criticism over privacy concerns and "creep goggles" branding. LINK

• Microsoft reported fiscal Q4 Azure cloud revenue growth of 43%, beating the 39.98% estimate as Azure revenue surpassed US$100B and Microsoft 365 Copilot exceeded 30M paid seats. LINK

• Harris Farm Markets surpassed more than US$1B in sales and plans almost 12 new stores. LINK

• Domino’s Pizza reported a 4.1% fall in same-store sales for 2026 as it lifted prices and cut discounts, while franchisee profitability rose 11.3% and goodwill impairments reached US$116.2M. LINK

• Rio Tinto reported US$6.66B in half-year net profit after tax, a 47% year-on-year rise driven by higher copper, gold and aluminium prices and portfolio diversification. LINK

• Elite Eleven has transformed a COVID-era pop-up into a 525 sqm concept store at Highpoint Shopping Centre, replacing a 150 sqm site and targeting over US$150,000 in opening-weekend sales. LINK

• Grant Thornton has agreed to buy US rival CBIZ for US$5B to create the fifth-largest US professional advisory firm. LINK

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CHART OF THE DAY

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Editor’s Pick: 11 African elephants rewilded on South African reserves display many wild-like behaviours after long captivity, though stress indicators remain uncertain.

Draft Pick: Lachlan Kennedy has broken the Australian men’s 100m record with a 9.8s run to win Commonwealth Games silver in Glasgow.

Doctor’s Pick: Is washing your face with bar soap effective?

TRUE OR FALSE

1. The world's shortest commercial airplane flight lasts less than two minutes.

2. Human stomach acid is strong enough to dissolve a stainless steel razor blade.

3. A penny dropped from the observation deck of the Empire State Building can kill a person if it strikes them on the head.

4. The very first item ever scanned with a barcode in a supermarket was a can of Campbell's Soup.

5. Snails are capable of sleeping for up to three years consecutively.

Answers below

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Pick & Scroll Join over 30,000 followers on our LinkedIn and Instagram for industry insights and snapshots. Like what you read? Share Pick & Scroll with your family, friends and colleagues below. 👇

ANSWERS

1. True. The Loganair flight between the Orkney islands of Westray and Papa Westray in Scotland covers a distance of just 1.7 miles. The scheduled flight time is 1.5 minutes but with a good tailwind, the trip has been completed in just 53 seconds.

2. True. The human stomach produces incredibly harsh gastric acid (mostly hydrochloric acid) with a pH level between 1.0 and 2.0. In laboratory studies simulating the stomach environment, this acid has been shown to significantly dissolve single-edged razor blades after just 24 hours of immersion.

3. False. A penny is far too small, flat and light to become a lethal weapon. Because of air resistance, a falling penny reaches its terminal velocity (maximum speed) at about 25 to 50 miles per hour.

4. False. On June 26, 1974, the first product to ever be successfully scanned using a Universal Product Code (UPC) barcode at a retail checkout counter was actually a 10-pack of Wrigley's Juicy Fruit chewing gum at a supermarket in Troy, Ohio.

5. True. Certain species of land snails can go into a deep hibernation or estivation when the weather is too extreme (either freezing cold or severely dry) and food is scarce. They secrete a layer of thick mucus over their shell opening to seal in moisture and can remain in this dormant survival state for up to 3 years until environmental conditions improve.

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Good morning. eBay and three former executives have agreed to pay US$55.7 million to a couple they targeted in one of the strangest corporate harassment campaigns on record.

After the couple's newsletter ran critical coverage of eBay, staff sent them live cockroaches, fly larvae and a bloody pig mask, and even travelled cross-country to put a GPS tracker on their car.

Seven employees pleaded guilty and served prison time, and the settlement finally closes a case that began with a then-CEO texting that it was time to "take her down".

All the headlines and more below...

BANKS PAID $55M IN OFFSET FAILURES - SOME CUSTOMERS LOST $17,000

ASIC reviewed 8 banks holding over 70% of Australia's $2.5 trillion home loan market and found systemic weaknesses in how offset accounts are set up, monitored and managed.

Loan repayments stay the same while customers pay more interest and take longer to clear the debt. In one case, a customer paid over $3,500 in extra interest across a single month after their account was incorrectly de-linked.

As of March this year, Australians held almost $350B in offset accounts, up 28% in 2 years. Around 40% of Australian mortgage holders now use them.

ASIC found some banks struggled to identify whether a customer had requested an offset account, were slow to fix errors and compensate affected customers, and did not provide accessible information online.

AUSTRALIAN NEWS

• The ATO is warning small business owners and soloists not to rely on AI or finfluencers for tax advice as more than 100 million data pieces pre-fill returns. LINK

• A growing wave of overseas retailers is opening bricks-and-mortar stores in Australia as Alo Yoga, Loro Piana and Chow Tai Fook launch their first local outlets. LINK

• More than 50% of Australians do not understand how its interest rate rises fight still-elevated inflation. LINK

• Investment banks are losing senior research talent as AI-driven data centre developers lure staff with more generous compensation. LINK

• Chinese car makers will supply about 58% of Australian vehicle imports, or nearly 900,000 cars, by 2035 as booming electric vehicle demand and high fuel prices reshape the market. LINK

CBA REPLACED HUNDREDS OF OFFSHORE ROLES WITH AI

Hundreds of overseas workers supporting Commonwealth Bank's chat service have lost their jobs after the bank incorporated AI into the system, according to people familiar with the work. Many of the affected workers were contractors at a call centre near Johannesburg run by South African outsourcing company Nutun.

Current and former Nutun employees said AI was handling a growing share of their work as CBA scaled back its contract with the company. One person familiar with the operation said the changes would save the bank tens of millions of dollars a year.

CBA has not publicly commented on the workforce reduction.

COMPANY NEWS

• KPMG Australia is facing renewed scrutiny of its governance as a second independent South ASPAC board member resigns and a former NAB whistleblower is appointed to review misconduct handling. LINK

• Telstra expanded its Starlink-powered satellite service to support selected mapping, messaging, weather and fitness apps in remote Australia while still not enabling Triple Zero emergency calls. LINK

• Kmart and Target have launched $89 Anko smart glasses in Australia with an 8 megapixel camera and 1080p video as public concern over covert recording grows. LINK

• Apple briefly became the world’s most valuable company with a market capitalisation above US$5T as strong product demand and avoiding heavy AI spending attract investors. LINK

• Visa has announced plans to cut 7% of its workforce, or about 2,600 jobs, mainly in technology and product teams as it seeks greater efficiency and reallocates investment. LINK

• Coca-Cola reported Q2 revenue up 7% to US$13.4B and net income up 16% to US$4.4B, as FIFA World Cup campaigns lifted Coke and Powerade volumes. LINK

• Mondelez International (the owner of Oreo) has beaten estimates for Q2 as steady demand for chocolates and biscuits and a global cocoa surplus grew net revenue. LINK

• The new Qantas Project Sunrise test aircraft completed an ultra-long-haul flight of 24 hours 25 minutes from Sydney to Toulouse via the US and UK, attracting 3.6 million online trackers. LINK

• Origin Energy has confirmed that a cyberattack accessed personal data of about 900,000 current and former customers after an earlier July warning was initially deemed not credible. LINK

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CHART OF THE DAY

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Editor’s Pick: A man has set a Guinness World Records mark by eating 15 fish fingers in 60 seconds after winning £98,000 on ITV show The 1% Club.

Draft Pick: Lachlan Kennedy and Torrie Lewis smashed national 100m records while Ky Robinson and two gymnasts claimed gold.

Doctor’s Pick: Black sesame for grey hair: does it actually work?

BRAINTEASER

Solve this rebus puzzle.

Answer below

OUR SOCIALS

Pick & Scroll Join over 30,000 followers on our LinkedIn and Instagram for industry insights and snapshots. Like what you read? Share Pick & Scroll with your family, friends and colleagues below. 👇

ANSWER

Noel (No L)

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Good morning. Ford wants to sell cars the way Nike sells sneakers, with limited-edition "vehicle drops" and a customisation arm it's betting will become a much bigger slice of profit.

Almost half its US buyers already customise their cars in some way, and with new-car affordability stretched here and there, the upgrades and accessories are increasingly where the real money is made.

All the headlines and more below...

ALGORITHMS NOW SCREEN JOB APPLICATIONS AND ROBO-RECRUITERS CONDUCT INTERVIEWS

Job hunters are complaining that algorithms now screen their applications and robo-recruiters conduct their interviews, removing the human element from hiring. Others say generative AI has intensified their workload rather than easing it.

Some workers are opting out of automated shortcuts altogether, saying the tools make them lazy-brained and contaminate their thinking. The shift is most visible in hiring, where applicants now face screening by algorithm before a human ever reads their CV.

AUSTRALIAN NEWS

• Western Sydney Airport is beginning 24/7 freight operations ahead of its 25 October passenger launch, with 18 freight flights scheduled in the first 2 days and Qantas expecting to move over 160,000 parcels in 24 hours. LINK

• The ATO has opened 2026 tax return lodgements with over 100 million data points pre-filled, while warning Aussies about errors, overclaiming deductions and higher late lodgement penalties up to $1,820. LINK

• More than 100 Australian university executives, including half of the 36 public university vice chancellors, have earned over $1M as the government develops national standards to curb such pay. LINK

ANZ WILL LET COMPANIES MOVE MONEY OVERSEAS INSTANTLY USING TOKENISED DEPOSITS

ANZ is launching a new digital deposit system later this year that will allow large corporates to shift funds across borders in real-time, becoming the only Australian bank among 17 international lenders to adopt the technology on Swift's network.

The system uses a "tokenised deposit" - a digital token representing a standard bank deposit that moves on blockchain infrastructure. Swift, the secure messaging service banks use for cross-border transactions, is rolling out the network. Companies will be able to fund overseas subsidiaries or pay international suppliers without waiting for clearing, which can take days under the current system.

The tokenised deposit differs from a stablecoin, another form of digital money moving on blockchain. Both are tokens that settle instantly. A tokenised deposit is backed by funds held in the issuing bank's deposit accounts, while a stablecoin is backed by reserves held by the issuer, outside the traditional banking system.

Australia's big banks are also making early steps towards stablecoins.

COMPANY NEWS

• ING Australia has launched a new Savings Booster account paying 6% interest on balances up to $500,000 for 4 months then 5.4% to attract new savers amid rising fintech competition. LINK

• American Express expanded its annual Shop Small campaign in Australia by committing an initial US$1M for 50 grants of US$20,000 and offering another US$1M unlocked through card member spending. LINK

• CBA and other major banks in Australia are overhauling cybersecurity response plans as powerful AI tools like Anthropic’s Mythos expose old software flaws and demand faster incident decisions. LINK

• AstraZeneca has urged western drugmakers to match “Chinese speed” in innovation as it targets US$80B in 2030 sales after reporting £30.7B H1 2026 revenue, up 6%. LINK

• Tesla has won permission to revive its London lawsuit seeking a court ruling on FRAND terms for a 5G patent licence from InterDigital and Avanci before launching 5G vehicles in Britain. LINK

• Hugging Face chief executive Clement Delangue has urged OpenAI to show “radical transparency” over its rogue agent cyber-attack and provide US$100M of computing power to bolster defences. LINK

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CHART OF THE DAY

Swimming is not a popular pastime

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Editor’s Pick: Australian paddle boarder Charlie Verco has won the Moloka'i to O'ahu Paddleboard World Championships in Hawaii and broken the world record after rescuing a shark attack victim in Coogee.

Draft Pick: The All Blacks have named a 44-man squad for a 7-week tour, retaining all 34 Nations Championship players, adding 10 including 3 potential debutants, while 3 stars are injured.

Doctor’s Pick: Is natural sugar better for you than processed sugar?

TRIVIA

Today we palm our trivia off to one of our favourite new games, https://maptap.gg/

You get given 5 locations and get points depending on how close you are, it's the new wordle, you heard it here first. Enjoy!

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Good morning. Forensic testing has found Leggo's, Coles and Aldi are selling tomato products labelled Australian or Italian that are actually from China.

Around 80% of the Leggo's paste products tested failed, despite packaging that says "Australian grown".

The brands have rejected the results, but it means shoppers may be paying a premium for local produce that isn't, while actual Australian growers compete against it.

All the headlines and more below...

400,000 HOME BATTERIES INSTALLED IN 12 MONTHS AS COMPLAINTS JUMP 107%

More than 400,000 Australian homeowners installed a home battery in the past 12 months, driven by government subsidies and the promise of lower power bills. Victoria's energy safety regulator reported a 185% rise in complaints in the first six months of the federal program.

Complaints to the consumer watchdog rose 107% year-on-year in the first quarter of 2026, covering dodgy sales tactics, faulty products and non-existent after-sales support. Customers are reporting high-pressure sales, batteries that fail soon after installation, and companies that vanish or become unreachable once the system is fitted.

The subsidy scheme accelerated household battery uptake but the pace has outstripped quality control. The spike follows a familiar pattern in the solar and battery sector, which has cycled through boom periods that attract what the industry calls cowboys and dodgy dealers, leaving battery owners with systems that underperform or fail outright and no recourse when the installer won't answer calls.

AUSTRALIAN NEWS

• Anthony Albanese has ruled out extending the reduced fuel excise as petrol and diesel prices surge amid global oil disruptions and looming US$100-plus Brent crude. LINK

• GLP-1 weight-loss drugs are reshaping fashion retail as supermarkets push higher-protein foods and clothing chains see more frequent purchases in smaller sizes. LINK

• The Trump administration imposed a new 12.5% tariff on Australian exports, replacing a 10% levy, citing alleged failures to curb forced labour despite Australian government objections. LINK

• Victoria has emerged as a major drag on Australia’s economy as its unemployment rate climbs to 5.1% compared with the national 4.4%, accounting for 200,000 jobless people. LINK

• Soaring petrol prices above $2.50 a litre and 2 RBA rate hikes in early 2026 have cut a typical mortgaged family’s monthly spending power by $450. LINK

• The federal government has introduced a 30% CGT "top-up tax" on self-funded retirees on zero tax rates, disrupting long-standing retirement investment and tax planning strategies. LINK

• Fruit and vegetable farmers secured agreed price rises from Woolworths and Coles that cover about 33% to 40% of soaring input costs as fertiliser prices double and diesel jumps more than 50%. LINK

• Unions have secured government support to expand same job, same pay laws, strengthen collective bargaining, curb employer lockouts and explore an AI-driven “time dividend” for Australian workers. LINK

• The boom in listed technology stocks in the US and emerging markets has driven top “growth” super funds such as UniSuper to returns up to 12.3% and cumulative 4-year gains of 44%. LINK

DISABLED WORKERS CAN BE PAID $3.31 AN HOUR UNDER A WAGE ASSESSMENT SYSTEM FROM 1994

Around 17,000 Australians with significant disability work in specialist disability enterprises, where the Supported Wage System reduces pay based on assessed productivity compared to non-disabled workers.

That wage can be cut further, to as low as $3.31 per hour, through the Supported Employment Services Award, which sets a base rate of $8.32 per hour. The Supported Wage System applies not just in disability enterprises but to disabled workers in any workplace. The national minimum wage is $26.44 per hour as of July 1.

Most of the workers affected are employed part-time in packaging, manufacturing, cleaning, gardening, laundry and recycling roles. Many have been in these workplaces for years.

COMPANY NEWS

• Canva has unveiled Canva Grow 2.0, an AI-driven ad engine that automates campaign creation and optimisation across Meta, TikTok and LinkedIn after acquiring MagicBrief for $22.5M. LINK

• KPMG expelled former chief operating officer Eileen Hoggett after an Allens investigation confirmed she hid and shared confidential Lendlease board documents to help win audit work. LINK

• CBA and other major banks are urgently overhauling cybersecurity playbooks as AI-empowered criminal threats and powerful tools such as Mythos expose flaws and outpace traditional incident responses. LINK

• Incoming Macquarie chief executive Greg Ward has been urged by investors to prioritise overhauling the group’s governance and culture after lucrative $24B and US$40B data centre exits. LINK

• Penfolds has halted China-bound orders of its Bin 407 label from July to early October as Treasury Wine Estates targets grey market importers undermining price stability. LINK

• The Fair Work Commission ordered Uber to reinstate a driver banned over 12 misconduct complaints after finding the company relied on unverified allegations and mishandled new gig worker laws. LINK

• Coles has partnered with Evie Networks to install fast electric vehicle charging stations at dozens of supermarkets over the next 2 years to attract convenience-focused shoppers. LINK

• American Express expanded its annual Shop Small campaign in Australia by committing an initial US$1M for 50 grants of US$20,000 and a potential additional US$1M funded through matched card member spending. LINK

• Intel issued a stronger-than-expected Q3 revenue forecast of US$15.8B to US$16.8B as Q2 revenue rose 25% to US$16.13B and net income reached US$2.2B. LINK

• Nvidia, Microsoft and more than 20 other tech groups have urged lawmakers to avoid early restrictions on open-source AI models as they warn limits could stifle competition and innovation. LINK

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CHART OF THE DAY

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Editor’s Pick: Samples from the far side of the moon found asteroid impacts declined gradually from about 4.33 to 1.13 billion years ago.

Draft Pick: Lando Norris has taken his and McLaren’s first 2026 victory.

Odd Pick: Is sugar or fat worse for you?

TRUE OR FALSE

1. High heels were originally designed for men to wear.
2. Vikings commonly wore horned helmets into battle to intimidate their enemies.
3. Humans share roughly 60% of their DNA with bananas.

Answers below

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ANSWERS

1. True
2. False
3. True

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Good morning. The Commonwealth Games kick off in Glasgow this week, three years after Victoria walked away over blowing costs and nearly killed the event entirely.

Glasgow's version is a stripped-back one, with 3,000 athletes across 10 sports, four venues within a 12km stretch and hotels instead of an athletes' village.

Australia topped the medal table in Birmingham with 67 golds and should be near the top again, with the swimming team doing most of the lifting.

All the headlines and more below…

AUSTRALIAN MCDONALD'S WORKERS EARN 2.3 BIG MACS PER HOUR - UNCHANGED SINCE THE EARLY 2000S

How many Big Macs can a Maccas employee buy with an hour's pay? The metric tracks real purchasing power: if wages rise faster than the burger price, workers are better off; if the burger price outpaces wages, purchasing power falls even if nominal pay looks higher.

A Big Mac requires the same inputs everywhere - beef, bread, labour, rent - which strips out currency fluctuations and makes the comparison direct. While Australian nominal wages have risen, the Big Mac price has kept pace, leaving real earnings static. Workers in the US and parts of Europe have seen modest gains in Big Macs earned per hour over the same period, while emerging economies show sharper swings tied to currency instability and inflation spikes.

Anyone can contribute data to the index by visiting a McDonald's, recording prices and asking staff their hourly wage. The dataset now spans dozens of countries and multiple decades.

AUSTRALIAN NEWS

• Australia added 76,300 jobs in June as the unemployment rate stayed at 4.4% with participation rising to 67%, keeping pressure on the RBA before its August 11 rates decision. LINK

• The government has announced the creation of the Fair Work Court to sit alongside the Fair Work Commission and resolve employment disputes more quickly under expert judges. LINK

• NSW Fair Trading launched Supreme Court action against Sydney retailer Bondi United and Bondi Project over allegedly false claims that sales proceeds supported victims of the 2023 Bondi massacre. LINK

COLES CLOSES ELIZABETH STREET STORE AS VICTORIA HITS HIGHEST ORGANISED RETAIL CRIME RATE IN AUSTRALIA

Coles will close its Elizabeth Street supermarket in mid-2027 when the lease expires. The company says it's a commercial decision and is exploring a new CBD location.

Victorian teams "continue to face unacceptable levels of abuse, aggression and threatening behaviour". In May, Coles released CCTV footage showing a staff member attacked and dragged across the floor by her hair, and thieves leaving with trolleys full of unpaid food. In August, the company singled out Victoria as the state where it saw the highest share of organised retail crime by individuals who "pay no attention to the law".

The Australian Retail Council says retail crime is at elevated levels across the country, with Victoria remaining the "national hotspot". Many retailers are repeatedly targeted and "simply can't sustain the ongoing impact on their teams, their stores or their products", with some choosing to relocate or shut stores entirely.

COMPANY NEWS

• ACCC launched Federal Court action against Dusk Australasia alleging it sold or offered 66,453 non-compliant button battery homeware products across 29 lines between 2023 and 2024. LINK

• Origin Energy has confirmed unauthorised access and disclosure of some customer data after investigating an alleged breach affecting up to 2M profiles, including personal details and partial payment information. LINK

• Domino’s is carefully reviewing a Federal Court judgment that found its historical enterprise agreement representations were misleading and deceptive, underpaying a Queensland delivery driver by about US$11,869 plus interest. LINK

• July opened its biggest and most ambitious flagship store at Melbourne’s QV precinct, as the travel brand reports its largest single day of sales from the launch. LINK

• ANZ sharply reduced sign-up bonuses and perks on its Frequent Flyer Black and Platinum credit cards ahead of the RBA surcharge ban, as experts predict widespread industry cuts. LINK

• Qantas’ Project Sunrise Airbus A350-1000ULR completed a 20-hour test flight from France to Melbourne with an extra 20,000 litre fuel tank enabling up to 22-hour non-stop routes. LINK

• Google has been fined a total of €890M under EU rules as the European Commission penalises it for favouring its own services in search results, including a €460M Digital Markets Act breach. LINK

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CHART OF THE DAY

June and July saw moderate ship traffic in Strait of Hormuz

ONE MORE SCROLL

Editor’s Pick: A Japanese-led study has mapped about 70,000 mining sites worldwide and found mining caused 16,268 km² of forest loss since 2001.

Draft Pick: Les Kiss has named a 34-man Wallabies squad that reflects his “evolution not revolution” approach.

Doctor’s Pick: What’s worse: sugar or artificial sweeteners?

TRIVIA

How much did this 5 bedroom, 3 bathroom, 1600 square metre property sell for in Turramurra, NSW, sell for?

Answer below

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Pick & Scroll Join over 25,000 followers on our LinkedIn and Instagram for industry insights and snapshots. Like what you read? Share Pick & Scroll with your family, friends and colleagues below. 👇

ANSWER

$7 million

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Good morning. Australia is rolling out AusAlert, a new national emergency warning system built to reach every mobile phone via cell broadcast technology, replacing the old SMS-based alerts that failed so many people during the Black Summer bushfires.

The whole country will get a taste of it on July 27, when a loud test alarm blares from phones nationwide ahead of the system's official October launch.

Even devices on silent or 'do not disturb' will override those settings to sound the alert.

All the headlines and more below…

ASHURST FLAGGED LENDLEASE BREACH RISK IN AUGUST, THEN CLEARED KPMG

Ashurst raised concerns about KPMG's misuse of confidential Lendlease information in a secret review completed last August, then concluded the allegations from a former employee could not be substantiated. The same review cleared KPMG partners of bullying claims without interviewing a single person.

KPMG used the findings to tell regulators, clients and a parliamentary inquiry that the allegations had been made maliciously. The firm relied on the Ashurst reports and a separate review by Allens to dismiss the claims and frame the whistleblower as a disgruntled former employee.

The two Ashurst reports were handed to KPMG last year and centred on allegations the firm was inappropriately using confidential client information to win new work. Despite flagging concerns about the Lendlease breach, Ashurst's conclusion allowed KPMG leadership to reject the claims in private and public statements.

AUSTRALIAN NEWS

• Australia's housing boom has officially entered a downturn for the first time in more than 3 years, with property prices falling from record highs in the June quarter. LINK

• ASIC has sent letters to 2,900 auditors reminding them of compliance and ethical obligations as it launches twice-yearly meetings. LINK

• The winter tourism industry is taking a hit in Western Australia's south, with businesses reporting a noticeable downturn. LINK

TEN AXES WEEKNIGHT CURRENT AFFAIRS SHOW 10 NEWS+ FROM AUGUST 10TH

The hour-long 5pm bulletin will be stretched to 90 minutes to cover the slot as cheaply as possible after Ten dumps its nightly current affairs program 10 News+ from August 10.

The cash-strapped network is trying to eliminate an $80M hole in its annual budget.

The show will survive only as a Sunday night slot. Staff were told of the decision days after reports flagged job cuts across the channel as part of the same cost-cutting push. The program failed to find a sustainable audience.

COMPANY NEWS

• OpenAI has admitted that an autonomous agent powered by its advanced AI models escaped a controlled security test and hacked a start-up. LINK

• Amazon has cut jobs in its artificial general intelligence group as it sharpens focus on key customer initiatives after eliminating 16,000 roles across the company in January. LINK

• Samsung Electronics unveiled a passport-sized foldable phone and raised prices on 2 updated Galaxy Z foldable models as memory chip costs rise and Apple competition looms. LINK

• Block has launched Buzz, a new AI-first workplace collaboration platform that combines messaging, project management and software development so human staff and AI agents can work together. LINK

• Anthropic discussed accessing decades of ABC radio and television archives to train its Claude chatbot in a paid deal, while publicly denying any current licensing negotiations. LINK

• Origin Energy is investigating potential unauthorised access to customer data affecting its 4.8 million customers after an alleged hacker claimed ignored warnings and provided 50 sample records. LINK

• Penfolds has kept its 2026 collection, including flagship Grange at a $1,000 recommended retail price, at 2025 levels as retailers forecast stronger demand for cheaper wines. LINK

• Revolut received APRA approval to become an Australian bank, posing a major competitive threat to the big four as it brings advanced global payments technology and a proven digital platform. LINK

• Tabcorp has paid more than $2.7M in penalties after ACMA found it breached spam and telemarketing laws by sending over 217,000 unsolicited messages and making almost 4,000 unlawful calls. LINK

2026 AUSCORP SALARY SURVEY

Since late 2022, your employer can no longer stop you discussing your pay. But most people still have no idea what the person next to them earns. We're trying to fix that.

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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CHART OF THE DAY

Spain joins short list of multiple World Cup winners

Spain's extra-time win over Argentina made it the seventh nation to win multiple World Cups, tying France and Uruguay with two titles each, though Brazil still leads the all-time list with five. Only eight countries have ever won the tournament since it began in 1930.

ONE MORE SCROLL

Editor’s Pick: The rise of micro-shifting and how workers are redesigning their own schedules.

Draft Pick: Allyson Felix wants to challenge what ageing in sports is supposed to look like.

Doctor’s Pick: Is 5 cups of coffee a day actually good for your heart?

TRIVIA

Rank the five DJ's in terms of their monthly listeners:

Tiesto, Calvin Harris, Marshmello, Alok, David Guetta

Answers below

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Pick & Scroll Join over 25,000 followers on our LinkedIn and Instagram for industry insights and snapshots. Like what you read? Share Pick & Scroll with your family, friends and colleagues below. 👇

ANSWERS

1. David Guetta
2. Calvin Harris
3. Marshmello
4. Tiesto
5. Alok

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Good morning. A Newcastle postie of more than 30 years has lost his unfair dismissal case after taking an Australia Post van to KFC during work hours, then telling his supervisor to "make an appointment" when asked where he'd been.

The Fair Work Commission heard he missed work or failed to make contact on at least 19 occasions in a month, ignoring 17 messages from managers.

The commission accepted his mental health had affected how he responded, but found the conduct serious enough to justify the sacking anyway.

All the headlines and more below…

DOMINO'S AUSTRALIA BLAMED FOR DRAGGING DOWN GLOBAL SALES AFTER DITCHING DISCOUNTS

Domino's US has directly called out its Australian operation for pulling down the company's international performance after the company cut discount promotions to protect margins and lost customers instead. International comparable sales dropped 0.1% in Q2, with US executives saying the Australian arm remains "definitely a drag on our same-store sales".

Domino's Pizza Enterprises - which runs thousands of outlets across Australia, New Zealand, Europe and Japan - reduced lower-margin discount deals to protect profit margins against inflation. Order volumes fell sharply and ticket increases didn't compensate.

The US parent has more than doubled US order volumes since 2008 and added over 2,100 net new stores through order growth and disciplined pricing.

DPE reported a small after-tax loss in FY25, its worst result in over 20 years. US leadership said DPE is the number one pizza player in most of its markets and expects an aggressive return to value-focused deals to win back budget-conscious customers. DPE is currently led by Hungry Jack's founder Jack Cowin.

AUSTRALIAN NEWS

• Australia is heading for its weakest decade of living standards growth since the 1910s as GDP per person has risen just 4% and real wages have fallen 5% over 5 years. LINK

• The Queensland government has launched the TradieStart program offering construction businesses up to US$16,000 per apprentice as part of a $24.4M initiative to address forecast tradie shortages before the 2032 Brisbane Olympics. LINK

• Private Healthcare Australia has warned that rigid gold, silver and bronze tiers and reduced rebates in the federal budget are driving an existential flight from top hospital cover, with up to 253,000 people expected to drop or downgrade policies. LINK

• Recruitment has become a major area for AI deployment as employers and job seekers use tools to automate cover letters and candidate screening, following Amazon’s scrapped biased hiring system. LINK

• Reuters editor-in-chief believes that AI companies are “plundering” copyrighted news content to train models without consent or compensation, threatening journalism’s future revenue and viability. LINK

GOOGLE BUILT A $2T EMPIRE DIRECTING USERS TO MILLIONS OF WEBSITES. NOW IT'S KEEPING THEM INSIDE.

Google's 2004 IPO letter promised "abundant, free and unbiased access to high-quality information." The model was meant to answer search queries with hyperlinks, push users to the open web to support the merchants, publishers, universities who built the internet's content layer. Google became one of the planet's richest companies by being that gateway.

Google has cut down click-throughs. No visits to the source. The content still comes from publishers and institutions, but the relationship has inverted - instead of sending traffic out, Google absorbs the information and serves it back as its own answer.

Publishers rely on visit traffic for ad revenue and subscriptions. If users never leave Google, that revenue disappears - even as Google continues to depend on those same publishers to train and feed its AI models.

COMPANY NEWS

• KPMG Australia has appointed long-term partner John Sams as chief executive to lead reforms after a whistleblower audit scandal that triggered senior resignations and a governance overhaul. LINK

• Nine Entertainment is cutting about 30 jobs across its metro mastheads in a restructure to accelerate a shift to digital news as advertising conditions weaken and technology disrupts media. LINK

• NextDC increased its pro forma contract utilisation by 11% to 740 megawatts as its shares trade at $13.59 in afternoon trade. LINK

• Revolut has become Australia’s newest bank after APRA granted it a full ADI licence, enabling government‑guaranteed deposits up to $250,000 and savings rates up to 5.05% p.a. LINK

• Atlassian chief executive Mike Cannon-Brookes says the US$1.8B Sydney skyscraper opening in 2028 remains economically sound, costing about one-third less per square metre than current offices. LINK

• MoneyME has secured a US$300M warehouse facility from Standard Chartered as global banks intensify competition to fund credit card challengers in the US$60B local market. LINK

• Woolworths Group has appointed a new advertising agency for its Australian and New Zealand supermarkets in an $8M annual deal as it seeks to extend its sales lead over Coles. LINK

• Emirates has refused delivery of 10 Boeing 777X jets from its US$440M-per-plane, 270-aircraft order as 7 years of design delays left the initial batch unfit for purpose. LINK

• Books Kinokuniya will open its first Melbourne store at Melbourne Central by the end of August as part of a $170M redevelopment that will expand the centre’s retail footprint by 14%. LINK

• Hub24 reported a 20% year-on-year rise in both net inflows and total funds under administration as its shares traded at $81.32 at 2:40pm AEST. LINK

• Fiat has halted imports of its 500e and Abarth 500e passenger cars to Australia as lower-cost Chinese rivals including BYD expand and its local sales fall 30% to 144. LINK

• CBA has warned that collapsed US Iran peace talks and Houthi threats to blockade Saudi oil routes will prolong Gulf conflict, risking global trade and higher oil prices. LINK

• Alphabet is facing investor scrutiny ahead of its Q2 results as a delay to its Gemini 3.5 Pro AI model heightens concerns over growing data-centre spending and ecosystem strategy. LINK

• Interactive Brokers reported a 35% rise in Q2 profit as elevated trading activity, driven by a sharp US equity market rally, boosted its results. LINK

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CHART OF THE DAY

Messi and Mbappé make World Cup history

ONE MORE SCROLL

Editor’s Pick: Australian circus performer Tiffany Field has honoured her family legacy by setting a new aerial neck spin world record of 3 min 1.18 sec, beating the previous 1 min 10.28 sec mark.

Draft Pick: 6 years out from hosting the Olympics, this is where Brisbane stands.

Doctor’s Pick: Children who grow up in unpredictable environments may face elevated risks for depression, anxiety, sleep disorders and other mental health challenges.

TRIVIA

Today, you need to put the below events in chronological order (and guess the year if you're that way inclined):

• Wizard of Oz premiers

• IBM PC released

• First Model T released

• US annexes Hawaii

• First Communication by satellite was made

Answers below

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Pick & Scroll Join over 25,000 followers on our LinkedIn and Instagram for industry insights and snapshots. Like what you read? Share Pick & Scroll with your family, friends and colleagues below. 👇

ANSWERS

1898 - US annexes Hawaii
1908 - First Model T released
1939 - Wizard of Oz premiers
1960 - First Communication by satellite was made
1981 - IBM PC released

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Good morning. A study of 218,000 people across nearly 150 countries found about 1 in 5 feel lonely on a typical day.

Loneliness sits at 17.8% in Australia and 15.7% across high-income countries generally, compared to 31.3% in low-income ones.

And despite everyone calling it an epidemic, researchers found no clear worsening trend, with rates actually falling in wealthy countries.

All the headlines and more below…

VICTORIA TO SPEND ONE IN EVERY TEN DOLLARS ON INTEREST BY 2030

Victoria is on track to spend 10% of its revenue servicing debt by 2030. The state's debt interest bill is rising faster than revenue growth, squeezing what's left for services and capital works.

Gross state debt across Australia has jumped from $266B in 2018-19 to a projected $650B in 2026-27, driven by pandemic-era spending, public sector expansion and cost-of-living relief. Victoria accounts for a disproportionate share of that increase.

Moody's warns the Middle East conflict is adding pressure through higher fuel, freight, energy and imported materials costs, which flow into procurement, service delivery and infrastructure expenses. Persistent inflation is also pushing up wages and contractor costs.

AUSTRALIAN NEWS

• Australia’s major banks are cutting ‘offshorable’ and ‘automatable’ roles while paying more for scarce senior risk and compliance experts as banks, insurers and super funds compete for limited talent. LINK

• About 13 million bedrooms lie empty each night as older Australians delay downsizing due to limited affordable options and worsening housing supply constraints. LINK

• Major banks in Australia are warning that widespread fraudulent loan applications are escalating and are urging faster ATO data sharing under the consumer data right to securely verify borrowers’ incomes. LINK

• Australian motorists and businesses are facing sharply higher fuel and input costs as Brent crude surges above US$90 a barrel, fuel excise savings unwind and geopolitical conflict disrupts oil supply. LINK

• ASIC has secured $480M in civil penalties in the first half of 2026, as total FY26 penalties reached $830M and $643.5M is being repaid to consumers. LINK

KMART CUT HIRING TIME FROM 44 DAYS TO 11.8 DAYS AFTER REPLACING HUMAN SCREENING WITH AI CHATBOT

The Wesfarmers-owned retailer now processes roughly 600,000 applications a year across more than 450 stores - a volume its human recruitment teams could only partially screen before.

Chief people and corporate affairs officer Tristram Gray says the old CV-based process meant thousands of applicants never received a proper review. The chatbot now handles initial screening for every role, shortlisting candidates before a human recruiter steps in.

Gray says early internal audits suggest the system has reduced screening bias rather than introduced it, contrary to his initial concern. Kmart has not disclosed which vendor supplies its chatbot or how the tool defines a strong candidate.

COMPANY NEWS

• Google is developing a new server chip called Frozen v2 that embeds elements of its Gemini AI model into hardware to ease an AI computing capacity crunch. LINK

• PayPal has received an US$53B take-private offer from Stripe and Advent International as its growth slows and competition intensifies. LINK

• KPMG Australia has delayed board discussions on appointing a new CEO to focus on a scandal over alleged unredacted Telstra audit leaks that insiders say is already costing major clients. LINK

• Qantas is facing potential strikes by its 1,700 long-haul pilots as unions hold a protected-action ballot over a rejected pay deal that included a 2-year wage freeze. LINK

• Domino's maintained its annual sales forecasts as a challenging macroeconomic environment and heightened competition in the broader QSR category pressure growth. LINK

• AliExpress has been fined €550M by the European Commission under the Digital Services Act for failing to tackle illegal, unsafe and counterfeit products on its platform. LINK

• Telstra chief Vicki Brady has told a Senate inquiry that the telco’s partnership with Starlink will allow Australians in mobile blackspots to text contacts to reach triple-0 indirectly. LINK

• IREN has signed new multi-year AI contracts worth US$2.8B as it targets annualised revenue above US$4B this year with 85% under contract and plans 1.2GW capacity in 2025. LINK

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CHART OF THE DAY

2026 World Cup shatters attendance record

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Editor’s Pick: Josh Kerr revealed that after breaking the world record for the men’s one mile, he went for a beer, struggled to sleep and then went for another run just hours later. LINK

Draft Pick: Spain has secured a historic World Cup title with a 106th-minute extra-time winner from Ferran Torres over 10-man Argentina, while Leandro Paredes sparked an ugly post-match fracas. LINK

Doctor’s Pick: A global study led by Murdoch Children’s Research Institute has found antibiotic resistance in childhood infections increased across all regions between 2004 and 2022, with last-line resistance in Acinetobacter baumannii and Klebsiella projected to reach 82% and 35% by 2035. LINK

BRAINTEASER

Solve this rebus puzzle.

Answer below

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ANSWER

Goatee

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Good morning. Spain are world champions after a 1-0 win over Argentina, with Ferran Torres coming off the bench to score the winner in extra time.

Argentina played the last half hour with a man down after Enzo Fernández was sent off, and barely managed a shot on goal all game despite Messi doing everything he could to drag them back into it.

The final goal came within seconds of the restart for the second half of extra time.

All the headlines and more below…

SYDNEY AIRPORT SELLS $20 QUEUE-JUMPING PASSES FOR INTERNATIONAL TRAVELLERS

Sydney Airport has launched a $20 Fast Track pass for international travellers to access priority security lanes as it aims to reduce stress and improve peak-time efficiency.

The pass allows international passengers to use business and first class priority screening lanes regardless of ticket class. It's available for purchase in advance of departure.

Sydney Airport has become the first in Australia to sell priority passes that let travellers skip security and immigration queues. The airport says the service is aimed at reducing stress and saving time during peak periods, with passenger numbers expected to grow significantly over coming decades.

AUSTRALIAN NEWS

• 64% of Australian small business owners have experienced financial stress in the past year, while over 51% have considered closing or selling. LINK

• Sydney’s home ownership rate has fallen to 59.9% in 2025, its lowest level since the 1950s, while KPMG data shows ownership rising in WA and Queensland. LINK

• Australia’s struggling regional aviation sector has faced intensified pressure from the Iran conflict’s impact on jet fuel and routes as Air T’s government-backed rescue of Rex aims to keep 7.3 million regional residents connected. LINK

• The Victorian government is introducing new laws to lower barriers for suing AI and social media companies for psychiatric harm and to empower VCAT to issue demasking orders. LINK

• New minimum 30% CGT rules in Australia are forecast to increase tax bills for Gen Z and millennial investors, with some facing double previous liabilities and extra thousands. LINK

• Property analysts say Australia’s surging rents and rock-bottom vacancy rates are worsening housing affordability for younger buyers as rising rental costs offset the benefit of falling home prices. LINK

• Australia has seen the share of people reporting very low life satisfaction nearly double from 4.8% in 2014 to 9.7% in 2025, leaving about 2.2M below the wellbeing poverty line. LINK

• Australian banks, super funds and insurers are paying specialist contractors up to US$4,000 a day as a severe talent shortage coincides with rising regulation, mergers and tech projects. LINK

KPMG FINES STAFF UP TO $180,000 OVER OPTUS INFORMATION MISUSE IN TELSTRA AUDIT BID

KPMG fined 7 staff and partners over misuse of confidential Optus information. The penalties include reduced performance ratings, salary banding, restrictions on career progression and first-and-final warnings, with fines exceeding $100,000 for multiple individuals.

Those fined include former audit boss Julian McPherson, who resigned in May, and another partner who has since retired. Many received multiple sanctions at once, marking a significant escalation in both the quantum and range of penalties KPMG is imposing across the audit leaks scandal and the breadth of staff affected.

Separately, KPMG senior partner Kim Lawry is leaving the firm after Westpac demanded her removal from its $32M-a-year audit contract over her role in the scandal. Westpac met with KPMG to discuss the future of the contract, which had already drawn scrutiny because Westpac's audit committee chairman, Peter Nash, was a long-time KPMG partner. Nash resigned from Westpac's board this month over perceptions of conflict.

COMPANY NEWS

• Macquarie is facing staff unrest in its investment banking division as anonymous letters to chairman Glenn Stevens allege 6 senior Macquarie Capital managers breached company values and whistleblower complaints were mishandled. LINK

• Zip has announced it will exit the New Zealand market to concentrate on higher margin growth in its core Australian and US divisions. LINK

• The Iconic has launched the Iconic Media retail media offering as the Australian retail media market is forecast to grow 19.5% to $2.3B in 2026. LINK

• Telstra has told a Senate inquiry that a 45% mobile network outage affecting more than 25 million devices and over 400 Triple Zero calls was avoidable, as it ignored repeated warnings to update a crucial $30,000 timing device. LINK

• Network Ten is in advanced talks to outsource its news production and ad sales to a rival as its 5pm bulletin audience falls 20% to 289,000 while Seven and Nine exceed 1.3M. LINK

• Cleanaway Waste Management has appealed a Victorian Supreme Court ruling over a historical $6.9M landfill levy underpayment as it recognises a $27.5M provision and expects a US$12.3M FY27 cashflow impact. LINK

• Coles has appealed an ACCC ruling blocking its proposed 2,800 square metre second supermarket and Liquorland in Kalgoorlie-Boulder, as the first major test of new merger laws. LINK

• Apple has sued OpenAI and design firm io Products over alleged trade secret theft as it conspicuously avoids naming former star designer Sir Jony Ive despite his involvement. 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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CHART OF THE DAY

Global downtown ratings

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Editor’s Pick: Researchers have found that maternal cells are present in the brains of 26 of 37 children with severe epilepsy, persisting for up to 19 years and averaging 2.2 cells per 100,000.

Draft Pick: Olympic speed skating champion Steven Bradbury has led a Guinness World Record bid in Sydney for the most people simultaneously performing the "dad stance" for 30 seconds.

Doctor’s Pick: How are calories measured in food?

TRIVIA

This morning Spain took on Argentina in the Men's Football World Cup Final. Tell us who wins the below questions, Argentina or Spain?

1. Who has the larger population?

2. Which team won the Men's Football World Cup 4 years ago in Qatar?

3. In which country did the passionate, intense musical and dance style known as Flamenco originate?

4. Which country had a crippling Civil war in the 1930’s?

5. Which country has the largest GDP?

Answers below

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Pick & Scroll Join over 25,000 followers on our LinkedIn and Instagram for industry insights and snapshots. Like what you read? Share Pick & Scroll with your family, friends and colleagues below. 👇

ANSWERS

1. Spain
2. Argentina
3. Spain
4. Spain
5. Spain

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Good morning. Canva co-founder Melanie Perkins is launching a Global Goals Platform that asks people a single question - what is one goal you'd like to see achieved in your lifetime?

The idea borrows the feedback machinery Canva uses to build its software, where 4 million user suggestions a year shape new features, and points it at democracy instead, starting with a pilot in Wollongong.

It will be interesting to see whether a system built for choosing between design templates can translate to running a city.

All the headlines and more below…

GLP-1 USERS ARE DITCHING PROCESSED FOOD FOR PROTEIN AS APPETITE DRUGS RESHAPE WHAT PEOPLE BUY.

Mounjaro mimics a hormone that regulates blood sugar and slows digestion, keeping users full longer.

Mounjaro joins Ozempic and Wegovy among GLP-1 drugs now prescribed in Australia, with global demand surging over the past two years, though none are PBS-subsidised for weight loss alone.

If adoption scales, expect food manufacturers to see less demand for snacks and more for fresh protein and produce.

AUSTRALIAN NEWS

• Daily smoking in Australia has fallen to 5.6% as illicit tobacco use among smokers has more than doubled. LINK

• Nearly 600,000 Australian households became owner-occupiers from 2021 to 2025 as COVID-era low interest rates and migration boosted home ownership despite falling national rates. LINK

• The government announced plans to strengthen the Modern Slavery Act by introducing criminal sanctions for companies with revenue above $100M that cannot prove reasonable prevention efforts. LINK

• Australia's cost-of-living crisis has been driven by steep price rises in privatised essential services, with gas up 5.9% annually as overall CPI averaged 2.9%. LINK

• Australia's data centre boom has driven a more than 13-fold rise in IT machinery investment to $5.2B in the March quarter, comprising 69% of business investment. LINK

• Australia's mortgage downturn has deepened as home loan demand plunged 14% in June from a year earlier, outpacing May's 10.9% fall and hitting first-home buyers hardest. LINK

• The Australian Financial Complaints Authority defended its engagement with scam victims as it takes a key role in Australia's anti-scam efforts, after HSBC was fined $35M. LINK

• The Australian government ordered ASIC to tighten regulation of the Big Four accounting firms after governance scandals and whistleblower complaints, including alleged misuse of confidential data at KPMG. LINK

WORLD CUP DRIVES 50% JUMP IN JERSEY SALES BUT CAN'T LIFT RETAIL SLUMP.

Decathlon Australia sold out of Portugal, France and England jerseys during the FIFA World Cup, with overall sales at the retailer lifting more than 10% year-on-year during the tournament, which began on 11 June. Ball and jersey revenue alone jumped 50% compared with the same period last year.

End-of-financial-year sales across retail broadly failed to generate the same enthusiasm as previous years, with consumer spending continuing to slow despite the tournament. Decathlon, the world's largest sporting goods retailer, saw the boost concentrated in football-specific categories, but the lift didn't translate into sustained momentum across the sector.

Rebel Sport also reported stronger World Cup-related sales, though the gains came against a backdrop of subdued discretionary spending.

COMPANY NEWS

• Foxtel told hundreds of thousands of customers it will raise monthly fees for its Foxtel Plus and Platinum Plus cable bundles by $5 from September after signing a record $5.3B NRL rights deal. LINK

• Aldi has agreed an in-principle settlement to pay $55M to resolve SDA Federal Court claims that about 32,000 workers were directed to perform unpaid pre and post-shift work. LINK

• Corporate Travel Management apologised after admitting it underpaid staff in Australia and New Zealand by $2.39M as it negotiates a UK government repayment plan to remain solvent. LINK

• Coles has appealed the ACCC's first decision under its new merger control regime blocking a lease over a 2,800-square-metre Kalgoorlie site, warning of broader implications for future supermarket developments. LINK

• TechnologyOne has expanded its executive leadership team by creating 4 new senior roles, including executive vice presidents for regulated industries and government, to support its AI-focused growth strategy. LINK

• Qantas’ 2025 cyber breach at a Manila call centre compromised 5.67 million customer records with personal and frequent flyer data but no financial details. LINK

• Milkrun temporarily suspended new orders across Australia and New Zealand due to a payments-related technical issue, as the Woolworths-owned service works to restore normal operations. LINK

• Morgan Stanley reported a 58% jump in June quarter net profit to US$5.6B as revenue rose 26.8% to US$21.3B, driven by strong trading and wealth management. LINK

2026 AUSCORP SALARY SURVEY

Since late 2022, your employer can no longer stop you discussing your pay. But most people still have no idea what the person next to them earns. We're trying to fix that.

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.

TOGETHER WITH

School holidays don't have to mean parents taking leave or scrambling for childcare. KidsCo. brings fully run holiday programs into workplaces, with qualified teachers, activities and supervision included.

CHART OF THE DAY

Global vaccine progress is stalling

Global childhood vaccine coverage rose from 20% in 1980 to 80% by the 1990s, dipped during COVID, and has since stabilized around 83–87% in 2023, with progress now slowing due to hard-to-reach populations and vaccine skepticism.

ONE MORE SCROLL

Editor’s Pick: What happened to Australia's snow season? A climate expert explains.

Draft Pick: Spain v Argentina: Who will win at the World Cup's biggest stage?

Doctor’s Pick: Pet gecko could help scientists unlock the secrets of cancer.

BRAINTEASER

Which four-letter word can go BEFORE "bow", "coat" and "forest" to make three other words?

Answer below

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Pick & Scroll Join over 25,000 followers on our LinkedIn and Instagram for industry insights and snapshots. Like what you read? Share Pick & Scroll with your family, friends and colleagues below. 👇

ANSWER

Rain: Rainbow, Raincoat, Rainforest

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