A Sniippet of weekly news #11 – June 2020

Victoria stole all the headlines this week with spiking coronavirus cases and planes being turned away by the premier.

The Australian economy is still suffering but is doing better than most according to the IMF. 

Queensland has reopened its borders but it is not soon enough for swimwear company Seafolly which has gone into administration.

Lastly, I’m sorry to tell Queenslanders that the Big Pineapple is not the biggest pineapple but as a consolation Yale is offering a free course in happiness!

The one-minute weekly recap

A Sniippet for You

One in three businesses in cash crunch (AFR, 24 June)

  • One in three businesses say their cash on hand would allow them to survive less than three months according to a June ABS survey
  • Two-thirds of companies experienced a revenue decline compared with the same period last year
  • 14 percent had more than 75 percent of their revenue wiped out

Australia bans nicotine vaping imports for 2021 (The Guardian, 26 June)

  • An import ban will apply from 1 Jan 2021 rather than the originally announced 1 July 2020
  • Vaping supplies will still be available through a GP prescription as a last resort for cigarette quitters
  • The sale of vaping products in Australia is already illegal

Dirty dancing breaks the rules as WA moves to open nightclubs (AFR, 26 June)

  • WA has reopened nightclubs but patrons must observe 1.5m social distancing
  • The WA health minister says police will not be using a measuring tape but implores people to be sensible at club 
  • WA’s seasonally adjusted unemployment rate has soared to 8.1 per cent

Tough times at the box office for reopening cinemas (AFR, 26 June)

  • Cinema’s revenue to fall 26 percent this financial year
  • 83 percent of Event Cineme’s Cinebuzz members plan to return to cinemas within three months
  • Going to the movies ranked higher than going out with friends, going shopping or going to a restaurant as an activity people were most looking forward to once restrictions are eased

Slack could kill email for businesses with new Slack Connect (The Verge, 24 June)

  • Slack is a popular instant messaging service for companies’ internal communications
  • Slack has announced a new product which will allow companies to communicate with each other securely
  • Microsoft teams has been making headway against Slack during the pandemic but this could change things

Bikini icon Seafolly dives into voluntary administration (9 News, 29 June)

  • Popular swimwear brand has gone into administration citing the pandemic
  • The company was founded in 1975 and has 44 stores in Australia and 12 stores overseas
  • Stores will remain open for now and gift-cards remain redeemable

A Sniippet of Finance advice

What financial apps do Australians use everyday? (Mozo)

  • Five types of financial apps used by Australians everyday are:
  1. banking apps
  2. mobile payment apps
  3. International transfer and travel apps
  4. Budgeting and savings apps
  5. Investing apps

A Sniippet of Brain food

Yale offering a free course in happiness (entrepreneur.com)

  • Yale’s course on happiness, Psychology and the Good Life, is now available online for free
  • It is one of Yale’s most popular courses ever, back in 2018, 1 in 4 Yale students took it
  • Happiness can be measured and you will measure it before and after you finish the course to see the effect of the course

A Sniippet of Trivia

The Big Pineapple is not the biggest (Medium)

  • South Africa’s big pineapple is 4ft higher
  • It was built in the 1980s
  • Queensland’s big pineapple was built in 1971
  • South Africa’s big pineapple is the largest fruit-shaped building in the world

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