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10 things you need to know this morning in Australia

Wednesday 12 February 2020

Business Outsider

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Australia's biggest banks owe customers billions of dollars after the royal commission. This is how much each has actually paid back.

ASIC has released the latest compensation figures paid out by the country's big banks, including Westpac, ANZ, NAB, Commonwealth Bank, Macquarie, and AMP.
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Australian house prices are tipped to keep rising this year, with Sydney expected to soar by a massive 10%

Domain has updated its forecasts for 2020, and it expects house prices to rise by 8% nationally this year. Sydney is expected to lead, adding 10% to its house prices and bring the median to an astronomical $1.25 million.
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The ABC is trialling news videos on Instagram, in a bid to grab the attention of millennials

The ABC is experimenting with news videos on Instagram to attract a millennial audience. The national broadcaster wants to try out a different tone and focus on topics that younger audiences care about.
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Spotify has launched an app for kids in Australia, and it features curated playlists from companies like Disney and Nickelodeon

Spotify has launched a standalone app for kids in Australia. The Spotify Kids app is available for Premium Family account subscribers at no extra cost and it's add free.
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Hospitality bosses are blaming Fair Work's 'name and shame' wage theft campaign for the collapse of George Calombaris' restaurant empire

The hospitality sector is blaming the Fair Work Ombudsman's "name and shame" campaign for driving the collapse of George Calombaris' restaurant empire with warnings more jobs are at risk.
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Costco has announced it will launch members-only online shopping and delivery in Australia

Costco is launching online shopping and delivery in Australia. It will only be available to those with a Costco membership, which costs $60 per year.
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Jeff Bezos has reportedly broken California's record for the most expensive home sale of all time with his purchase of a $165 million Beverly Hills mansion

Amazon CEO Jeff Bezos has purchased a Beverly Hills mansion for $US165 million, according to The Wall Street Journal. The estate was designed for Warner Bros. executive Jack Warner in the 1930s and features its own nine-hole golf course. It was previously owned by media mogul David Geffen.
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Sex tech is now a $30 billion industry. An expert talked us through 10 gadgets with very different uses.

Technology to enhance sex and sexuality is in hot demand, with the industry valued at some $30 billion, according to Future of Sex podcast founder and former Microsoft executive Bryony Cole.
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12 notable airlines have gone out of business in the last 14 months — here's the full list

The year 2019 was tough for airlines. So far, it looks like 2020 will be the same. Airlines around the world saw a range of bankruptcies, liquidations, and failures, with many forced to shut down in 2019.

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