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Thursday, October 22, 2020
The $2.5b A-list flop: Quibi shutting down just months after launch
Short-video app Quibi is shutting down just six months after its early April launch after struggling to find customers.
The company said Wednesday (US time) that it would wind down its operations and sell its assets.
The video platform — designed for people who were out and about to watch on their phones — was one of a slew of new streaming services started to challenge Netflix over the past few years, most of which were part of much bigger tech and entertainment companies, like Apple and Disney.
Read more: https://www.smh.com.au/business/companies/crash-and-burn-quibi-shutting-down-just-months-after-launch-20201022-p567gq.html
NSW Treasurer Dominic Perrottet 'loves' plan for 80km shared pathway from Sydney Opera House to Parramatta
The NSW Treasurer "loves" a proposal for an 80-kilometre waterfront footpath that would wrap all the way from the Opera House to Parramatta's CBD.
Key points:
The proposal will be considered for inclusion in the upcoming NSW budget
Currently only 22 kilometres of waterfront pathways have been built
The Government may have to negotiate with owners of waterfront homes
Dominic Perrottet today said he received the proposal last week and it had come from Labor-linked think tank the McKell Institute.
But he thought their report was "great" and that it was something the Government should consider funding.
"We haven't done enough to even connect the eastern harbour to the western harbour, let alone go all the way to Parramatta," Mr Perrottet said.
Read more: https://www.abc.net.au/news/2020-10-22/plans-for-a-80km-scenic-walk-from-sydney-to-parramatta/12801560
Tuesday, October 20, 2020
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Australia financial crime watchdog investigates casino giant Crown, shares tumble
SYDNEY (Reuters) - Australia's financial crime agency began investigating casino giant Crown Resorts Ltd CWN.AX on suspicion of failure to comply with anti money-laundering protocols, putting a planned resort opening under pressure and sending its shares tumbling.
Read more: https://in.reuters.com/article/australia-crown-resorts-regulator-idINKBN2740OB
New Virgin Australia strategy spells end of business travel arms race
SYDNEY (Reuters) - Virgin Australia looks set to cut basic fares and start charging fees for items like checked baggage and food under new chief executive Jayne Hrdlicka, prompting a wider industry shake-up as the country’s airlines reawaken from the coronavirus crisis.
Read more: https://in.reuters.com/article/australia-airlines-strategy-focus/new-virgin-australia-strategy-spells-end-of-business-travel-arms-race-idINKBN2750FB
Tuesday, October 13, 2020
High levels of crime can't even drive Australian property prices down
Only in Australia, where the pursuit of property has reached a fever pitch in recent years, could crime not pose a deterrent to would-be buyers.
In fact, recent data suggests that, paradoxically, high-crime rates are actually more akin to an accelerant to price growth.
Analysis by Riskwise Property Research found that suburbs that ranked highly in terms of crime in Sydney and Melbourne also tended to outperform the broader market.
“Our nationwide research actually found gentrifying suburbs with high crime typically deliver strong price growth and outperform the local benchmark,” CEO Doron Peleg said.
“We found affordable high-crime areas with significant gentrification are likely to produce strong price growth, particularly when dwelling prices in the inner and middle rings are severely unaffordable.”
Hard seltzer is a popular US alcohol trend heading to Australia. But what is it and is it a fad?
Most Australians will never have heard of "hard" or "spiked" seltzer, but in the United States this new type of alcoholic beverage is rapidly transforming the drinking habits of Americans.
The industry predicts the trend is likely to take off here this summer, spurred on by the launch in Australia this week of America's most popular seltzer brand.
Annual Market Study Reveals Pace at Which COVID-19 Is Accelerating Digital Transformation
The latest Global Interconnection Index (GXI), an annual market study published by Equinix, shows that the COVID-19 pandemic has already had a dramatic effect on how businesses are planning their digital infrastructure initiatives over the next three years.
Read more: https://www.prnewswire.com/news-releases/annual-market-study-reveals-pace-at-which-covid-19-is-accelerating-digital-transformation-301150737.html
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