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10 things you need to know this morning in Australia

Sunday 23 February 2020

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10 things you need to know this morning in Australia

Good morning. Hope you had a restful weekend. Let's go.
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Woolworths has been named Australia's top online retailer, beating out Coles, Bunnings, and The Iconic

Power Retail revealed the top 100 online retailers in Australia, with Woolies taking pole position. Woolworths ranked highly on the four main components of acquisition, conversion, fulfilment and retention. It was also boosted by the introduction of a subscription-based delivery service and 'Delivery Now' option.
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Buy now, pay later companies are completely unregulated and it's leaving Australians vulnerable, Splitit CEO Brad Paterson argues

Several big buy now, pay later companies spent the week arguing to a Senate committee why the sector doesn't need extra oversight. Their draft industry code, which is voluntary and not legally enforceable, doesn't go far enough, competitor Splitit has told Business Insider Australia.
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Uber may be dominating Australia's rideshare market, but competitors DiDi and Ola are beginning to catch up

While Uber is the most popular rideshare platform in Australia, its competitors Ola and Didi are making inroads into the market. Research from Roy Morgan found that while Uber had mainly competed with taxis previously, its now facing real competition from other rideshare companies.
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David Jones will begin aggressively closing department stores in Australia as the retailer's profits halve

The chief executive of struggling department store David Jones has said the company's aggressive discussions with landlords have been going "quite well", as the business hopes to arrest its falling profits through a reduction of 31,000 square metres of floor space by 2022.
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Prices have skyrocketed in these 10 Australian suburbs over the last 5 years, showing just how crazy the real estate boom has been

The best suburbs to invest in over the last five years have been uncovered, with Mickleham in Melbourne's north rising nearly 200%, according to data provided exclusively to Business Insider Australia by Finder.
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Bernie Sanders wins the Nevada Democratic caucuses

Sen. Bernie Sanders has won the Nevada caucuses, Decision Desk HQ projects, with the vast majority of the final vote yet to be reported. Sanders has now officially swept the first three contests of the 2020 primary cycle, having tied with Pete Buttigieg in the Iowa caucuses and decisively winning the New Hampshire primary.
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Wall Street has a new slogan for why stocks keep going up as the world falls apart: 'Nothing Matters'

The mantra on Wall Street these days is "nothing matters." It seems no matter how huge the event - a debilitating virus ravaging China, the rise of Bernie Sanders - none of it matters. Stocks just go up, and in credit markets good debt trades close to junk.
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This one chart shows just how hard coronavirus travel travel bans are hitting Australian tourism

We knew it was going to be bad. The outbreak of the Wuhan coronavirus and the subsequent containment measures were always going to hurt Australia's economy, but we're starting to get the first indicators of just how much its going to hurt certain industries.
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How to tell if your job really sucks or if you're just too picky about your career, according to renowned therapist Esther Perel

In today's "identity economy," younger generations increasingly view their careers as sources of fulfillment, so when their jobs fall flat, they can feel purposeless.

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