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Monday's Must-Read: Record Fuel Prices, Scam Shockers, and the World's Wealthiest
Your Essential Monday Business Briefing!
Tim Wheeler
April 29, 2024
Investing Koala
Top Stories Today
Australians lost $2.7 billion to scams in 2023, ACCC report reveals
Unleaded 91 price reaches record high across major capital cities
Victorian government plans to build more than 70,000 homes above Rail Loop
Worlds Richest Man
Australians lost $2.7 billion to scams in 2023, ACCC report reveals
Australians made more than 600,000 reports about scams in 2023 — about 18 per cent more than in 2022.
Australians made more than 600,000 scam reports last year, losing $2.7 billion overall.
Older people suffered the greatest losses and there was a notable increase in scams originating on social media, the ACCC's new report says.
What's next? The government wants to introduce mandatory scam codes for banks, telcos and digital platforms
Unleaded 91 price reaches record high across major capital cities
Major cities across Australia have notched record high fuel prices this week, amid a worrying cost-of-living crisis.
Petrol prices have hit record highs across major capital cities, with the spike in prices a result of rising wholesale costs, high oil prices and a weak Australian dollar.
The national single-day average price for Unleaded 91 hit $2.17 on Friday, according to new data from Compare The Market.
But the average prices in Melbourne, Brisbane and Adelaide were actually above that record-high mark.
The previous high-water mark price was reached in September last year.
The sky-high price is a daily benchmark, not an across-the-board average for the week or month.
Victorian government plans to build more than 70,000 homes above Rail Loop
An artist impression of the Box Hill station platform once works are complete
In short: The Victorian government says it plans to build more than 70,000 additional homes above and around six Suburban Rail Loop precincts.
Townhouses and mid-rise apartments are expected to be built within walking distance to the stations while taller apartment and office buildings will be built in the precinct core, according to plans.
What's next? Community consultation is open.
The Worlds Richest Man
What you see above are the top 0.01% of the 0.01%. Out of the industrialists, the geniuses the men who change the world and push civilization forward in one way or another, above them all sits the man who sells you Bags, T-shirts and belts.
An astute business savvy tycoon who clearly understands the human desire to impress others is stronger and has more control over the masses than common sense. FUN FACT: COMMON SENSE IS NOT COMMON AT ALL!
So yes go ahead buy that $800 T-shirt and $8,000 bag, Bernard Arnault thanks you all from the top of his Penthouse.
Other News
Bored Ape Creator Yuga Labs Dismisses Employees in Restructuring
Apple Intensifies Talks With OpenAI for iPhone Generative AI Features
Amazon, Disney Are Close to Clinching NBA, WNBA Rights Deals
Italy Plans to Invest About €10 Billion in Chips, Minister Urso Says
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Wendy's is using FreshAI, their AI to automate drive thru ordering. Wild to see 🤯
— Danny Thompson (@DThompsonDev)
4:27 PM • Apr 22, 2024
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