Apple is in discussions with rival Meta about AI, according to a report by the Wall Street Journal.

Apple is reportedly in discussions with major rival Meta to integrate the Facebook parent company’s generative AI into its products, potentially signaling an end to a decade-long rivalry between the tech giants, as reported by the Wall Street Journal. This development follows Apple's recent agreement with OpenAI, the creator of ChatGPT, aimed at enhancing its Apple Intelligence suite with new AI functionalities for its highly sought-after products. A partnership between Meta and Apple could substantially bolster Apple’s[more...]

US equity funds experience significant inflows ahead of the release of inflation data.

June 28 (Reuters) - Anticipating continued moderation in inflation, U.S. investors heavily bought into equity funds ahead of a crucial inflation report, hoping it might lead the Federal Reserve to announce rate cuts. During the seven days leading up to June 26, investors poured a substantial $16.37 billion into U.S. equity funds, marking the highest weekly inflow since June 14, 2023.

West Australians work the longest hours in the country, primarily in an industry that won’t surprise you.

New data shows that West Australians work longer hours than residents of any other state or territory, with the state's population dedicating more time to their professions than they did before the pandemic. According to the Commonwealth Bank’s State and Territory Quarterly Perspective, released on Monday, WA boasts the strongest economy in the country, attracting a significant number of interstate and overseas migrants due to its economic opportunities.

Electric car battery charges in under five minutes during track test

An electric car battery developed by UK start-up Nyobolt has successfully charged from 10% to 80% in four minutes and 37 seconds during its first live demonstration. The test, conducted with a specially built concept sports car on a track in Bedford, is part of industry-wide efforts to accelerate electric vehicle (EV) charging times. For comparison, a Tesla supercharger typically takes 15-20 minutes to charge a car battery to 80%. Experts emphasize that eliminating "range anxiety" is[more...]

ANZ expects a significant drop in interest rates

Economists at the country's largest bank suggest considering a six-month fixed home loan due to anticipated "significant falls" in mortgage rates. ANZ has updated its forecast, lowering this year's expected house price growth from 3 percent to 1 percent, with a predicted 4 percent increase next year. This adjustment follows Westpac's recent revision, which reduced its forecast for price growth this year to 2.1 percent. ANZ attributed its change to weaker-than-expected sales data from the Real Estate[more...]

Surviving the Sharing Economy Trend: Strategic Moves for the Hospitality Industry

The rise of the sharing economy in the hospitality sector is reshaping the global travel industry, with the Middle East being no exception. The peer-to-peer exchange of accommodations and travel experiences through platforms like Airbnb and Dubizzle presents both challenges and opportunities for traditional hospitality players. This article explores the key trends driving the growth of the sharing economy, its impact on the hospitality industry, and strategic ways for industry players to adapt and benefit.

Nine to cut 200 jobs, including staff from the Sydney Morning Herald and The Age, following the end of its deal with Meta.

Nine Entertainment chief executive Mike Sneesby has announced to staff that 200 jobs will be cut due to "economic headwinds" in the media industry. Up to 90 positions will be affected at legacy mastheads including the Sydney Morning Herald, The Age, and the Australian Financial Review. The company stated that “some much-loved colleagues” would be leaving and that “tough decisions” would be made by mid-July to save $30 million. “Today, we will announce measures in our publishing[more...]

The ASX reached new highs this week, but that doesn’t imply the economy is in good shape.

It's been called a "conundrum," though that might be putting it mildly. Wall Street stocks are trading at record highs, the Australian stock market reached a new closing peak yesterday, and the property market is setting its own records — assets are thriving for investors. But the economy? According to Treasurer Jim Chalmers, it's "quite weak." This is perplexing because many industry experts typically associate the rising financial markets with robust economic growth.

Slowing demand growth and increasing supply are setting global oil markets on track for a significant surplus this decade.

According to the IEA's new oil market outlook, the world's demand for oil is expected to slow in the coming years as energy transitions advance, while global oil production is set to increase, easing market strains and pushing spare capacity to unprecedented levels outside of the Covid crisis. The latest edition of the IEA's annual medium-term market report, Oil 2024, explores the implications of these dynamics for oil supply security, refining, trade, and investment. The report projects[more...]