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Today's reading time is 7 minutes. - Miko Santos

MORNING HEADLINE

• Federal Court Orders Qantas to Compensate Outsourced Employees: Up to $100,000 in Test Cases. After a Federal Court ruling that found Qantas' outsourcing decision may have been unlawful, despite valid commercial justifications, the airline apologised and agreed to compensate nearly 1,700 former ground handling employees.

• Opposition Leader Criticizes Lidia Thorpe's Outburst Against King Charles III. Opposition Leader Peter Dutton has criticized Indigenous Senator Lidia Thorpe's protest against King Charles III during his parliamentary welcome, calling it disrespectful and suggesting she should not be part of the British system if she disagrees with it.
  

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BUSINESS

Charity Scams on the Rise: How Criminals are Targeting Australia's Most Vulnerable

The National Anti-Scam Centre has identified one worrying trend where criminals impersonate charities, offering fictitious financial assistance schemes to vulnerable Australians.

Reports have suggested that the number is increasing by as much as 30% over the last year. In general, the modus operandi of such criminals is to fool their victims into parting with vital personal information like government-issued IDs and bank details, which they can then use to steal money or other such crimes. This is particularly concerning because it preys upon those who are in dire financial situations and urgently seek legitimate help.

The Key points:

• Scammers posing as charities and government programs

• Victims duped into giving out sensitive personal information

• The scams target those suffering with rising living costs

• The stolen information is used for identity theft and further criminal acts.

Big Picture: The growth in these multi-faceted scams also underlines how cybercrime now increasingly targets the vulnerable seams of society. With the rising cost of living, more and more people may fall prey to it, which can lead to a ripple where there is general distrust in financial assistance programs. This would have wide ramifications for social welfare systems and charitable organizations in these times, requiring extra cybersecurity and awareness among the general public to protect the most vulnerable members of society.

TOUR DE INTERNATIONAL

🇱🇧 Israeli Strikes Target Hezbollah-Linked Banks in Lebanon, Escalating Tensions. Israel has attacked multiple branches of a Hezbollah-affiliated financial institution in Lebanon, citing its alleged funding of attacks, while the US tries to revive diplomatic efforts to resolve the Lebanon and Gaza conflicts amid rising tensions.

🇲🇩 Moldova's EU Referendum Passes by Razor-Thin Margin Amid Vote-Buying Allegations. Moldova's constitutional referendum on EU membership narrowly passed with 50.46 percent. Yes, while pro-EU President Maia Sandu faces a runoff election over Russian-backed foreign interference and vote-buying.

🇮🇩 Indonesia's Subianto Retains Key Ministers from Predecessor's Cabinet in New Government. New Indonesian President Prabowo Subianto has sworn in the country's largest Cabinet since 1966, with 109 members, retaining several key ministers from his predecessor's administration and forming a broad coalition to unite diverse political interests.

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HOUSING

Australia's Housing Crisis: New Policy Proposals Aim to Boost Supply and Affordability

Recent announcements by governments endeavour to deal with Australia's chronic housing shortage through increasing the supply of housing; for example, through Federal funding of infrastructure and changing zoning restrictions at the state level. Victoria suggests high-rise zones around main transport hubs, like train stations and bus terminals, in addition to stamp duty concessions.

These initiatives face challenges in how to balance increased supply with construction sector profitability in an effort to boost housing development and affordability. In the times to come, a lot is going to change in real estate, from market dynamics and price trends to consumer preference.

 The Key points: 

• Federal Government's infrastructure funding for new housing estates

• Victoria's planned high-rise zones near metro hubs.

• 12 months of stamp duty concession for off-the-plan apartments in Victoria

• The challenge of housing supply with the profitability of the construction sector Why it matters:

Big Picture: The outcome could be the reshaping of urban landscapes and housing markets over the long term. However, they are likely to increase the supply of housing, a question remaining on the type of housing created and whether such housing aligns with population needs. Success could position guiding future housing policy and urban planning strategies across the country.

SCIENCE & TECHNOLOGY

➡️ Mekong Ghost Resurfaces: Rare Giant Salmon Carp Found After 18-Year Absence. After an 18-year absence, scientists found the critically endangered giant salmon carp, known as the "Mekong Ghost," in Cambodia's Mekong River, giving hope for this threatened ecosystem's biodiversity but highlighting environmental issues in the region.

➡️ Australian Parliamentary Committee Proposes Digital Platform Levy on Tech Giants. An Australian parliamentary committee has recommended the government consider imposing a "digital platform levy" on tech companies like Meta and Google, and establish a fund to help traditional news media organizations strengthen alternative income streams, in response to Meta's decision to abandon its deals with Australian news outlets under the news media bargaining code.

➡️ US Space Force Awards SpaceX First 'Phase 3' Launch Contracts for Military Missions. The US Space Force awarded SpaceX $733.5 million for nine launches under its new "Phase 3" procurement programme, the first competitive national security space mission contracts.

BUSINESS & MARKETS

➡️ Business Council of Australia Unveils 29-Point Plan to Tackle Housing Crisis. The Business Council of Australia has released a comprehensive report proposing 29 recommendations to address Australia's housing supply crisis, including creating a national reform fund, rezoning land, and addressing skills shortages in the construction sector.

➡️ Fox Creek Wines Enters Voluntary Administration Amid Industry Challenges. Fox Creek Wines, a popular McLaren Vale winery, has entered voluntary administration due to industry challenges stemming from the pandemic, Chinese tariffs, and economic pressures, but aims to continue operations while administrators work on a restructuring plan.

➡️ ASX 200 Rises as Gold, Resources, and Energy Sectors Lead Gains. The S&P/ASX 200 rose, led by gold, resources, and energy sectors, while Chalice Mining rose and WiseTech Global fell, reflecting sector performance.

TRAVEL

➡️ Dubai Airport to Eliminate Passport Control with AI-Powered Facial Recognition. Dubai Airport will eliminate passport control with an AI-powered facial recognition system, allowing travellers to move freely without showing documents.

➡️ European Association Launches Transition Pathway for Sustainable Corporate Travel. BT4Europe, a European business travel association, has released a new report calling for sustainability to be as measurable as price in corporate travel, emphasizing the need for cross-industry collaboration and transparency in CO2 emissions to support the sector's transition to more sustainable practices.

➡️ Flight Centre Shares Plummet on Modest Q1 Profit Growth. Flight Centre Travel Group, an Australian corporate travel manager, reported a slight increase in first-quarter underlying profit, causing its shares to drop significantly as investors reacted to slower-than-expected growth and challenges in the global corporate travel sector.

GAMES

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FROM THE TEAM

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