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Bite-sized business news. 5 minute breakdown of the top 3 Australian or global business stories of the day. Tailor made for busy humans. Hosted by Brett Joffe and Justin Joffe, co-founders of Flux.
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Radio Brews News focuses on the issues facing the Australian brewing business and discusses them with the people shaping the industry. Every Tuesday, hear an interview with a leader in the brewing industry and every Thursday, hear the Brews News team discuss the news of the week.
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An Australian Craft Beer podcast that brings to you all the news, reviews, education and industry knowledge with a healthy dose of banter!
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Step Brewers Podcast is a no holds barred commentary on the beer scene in Australia. Through a shared loved of great grog, the two certified reptiles join forces to share their views, unverified facts and feverish passion for Australian beer. The boys bring their unique experience and perspectives to a banter laden podcast with epic segments, impassioned rants, technical interviews, unadulterated opinions and truth nuggets. Quite arguably the best beer podcast in Australia.
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Coles is cutting two of its liquor chain brands and will fold them under the Liquorland banner to grow sales. Country Road Group has reported a 66% drop in annual profit as it struggles to find its footing after breaking away from David Jones. Canva has jacked up the prices on some its offerings by up to 300% as it plans to for a potential listing …
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REA Group's UK expansion plans | Abercrombie & Fitch is back from the dead | Airtrunk hits the M&A jackpot
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REA Group has announced that it’s considering acquiring Rightmove, the United Kingdom’s largest property platform. Abercrombie and Fitch, the 90’s teen retailer, has seen its quarterly sales jump to over $1 billion USD after doing a major revamp to its brand. Airtrunk, the Australian data centre group, has been sold for over $23 billion after a 12 …
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Adore Beauty has seen its sales jump more than 7% but now it’s making a slightly unconventional move into the physical world. Apple and Nvidia are in talks to invest in OpenAI as part of its latest capital raise, which would value OpenAI at $100 billion USD. Cettire’s shares dropped 20% last week after it announced that its annual earnings would be…
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Wesfarmers has seen its annual sales jump to more than $44 billion and it’s putting a heap of praise on one particular business. Qantas has reported a 16% drop in its annual profit in its first annual update since new CEO Vanessa Hudson stepped in. Nvidia, the AI chipmaker, exceeded its quarterly guidance on all the key metrics… but its share price…
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No more Down Down for Coles' profit | Bunnings' new retail play | Guzman y Gomez's spicy earnings update
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Coles has seen its profit jump to over $1.1 billion…copping applause from shareholders and flak from customers and government. Bunnings, Officeworks and Priceline are all looking to build a new revenue stream…and it’s not physical products…OR SNAGS. Guzman y Gomez has smashed profit forecasts in its first earnings update since its IPO. — Build the …
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Uber Australia shuts down CarShare | Beyonce gets Whiskey-Drunk in Love | Call Her Daddy's $100m deal
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Uber Australia has pulled the pin on its carshare business after an 8-figure Australian acquisition in 2022. Beyonce is launching a new whiskey line in collaboration with Moet Hennessy as another celeb jumps on the alcohol bandwagon. SiriusXM Holdings has signed a $100 million USD for Alex Cooper’s Call Her Daddy podcast and her network of shows. —…
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Medibank Private has seen its share price fall after missing its big fat target for member growth. The owner of the 7-Eleven chain globally has been approached in a $40 billion USD takeover from a Canadian convenience store retailer. Breville, the home appliances company has has brewed up record high sales, and its got its coffee machines to thank …
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Commbank's cash crisis | Advertisers avoid X like the plague | General Motors cuts 1,000 jobs
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CommBank has warned that keeping cash at its bank branches is costing it more than $350 million a year. X, formerly known as Twitter, has seen its ad revenue drop by more than 24% in the first half of this year, as advertisers stay away from it. General Motors is cutting 1,000 software employees globally to streamline its initiatives and explore AI…
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NAB has announced a $1.75 billion cash profit for the past three months, but it’s facing a pesky problem from its customers. Origin Energy has announced a record annual profit… but its shares had a bit of a blackout, with a 10% dip after some red flags for the upcoming year. Paramount Global’s shares have jumped 7% as a surprise new entrant prepare…
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CommBank has announced a whopping $9.8 billion cash profit for the past 12 months after growing its customer base even further. Telstra has seen its annual net profit take a double-digit drop after its mobile price rises weren’t enough to offset some major expenses. Universal Music Group and Meta are expanding their music-licensing deal, which will…
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JB Hi-Fi's beats expectations | Temple & Webster skyrockets 26% | Economic slowdown impacts Seek
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JB Hi Fi has seen its full-year profits fall over 16% and investors piled on… in a good way.. Sending its shares up more than 10%. Temple & Webster nearly hit $500m in annual sales and its share price skyrocketed 26%. Seek’s shares dropped over 7% after it announced that earnings for the 2024 financial year fell by 13%. — Build the financial wellbe…
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News Corp, the publishing behemoth, has officially put up Foxtel and its streaming services up for sale! The parent company of clothing brands Millers, Katies and Noni B saw its shares drop more than 40% last week as it struggles to stay afloat. Life360’s share price has hit an all-time high as it crosses 70 million users. — Build the financial wel…
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Nine's share buyback doesn't go to plan | Airbnb shares drop 13% | Warner Brothers' pay-TV battle
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Nine Entertainment is expected to wrap up its $220m, two-year share buyback - after a whack in profits and business performance. Airbnb has had its largest share price drop since going public in 2020. Warner Brothers Discovery has written down the value of its TV assets by $9.1 billion USD, leading to a $10 billion USD net loss for the quarter. — B…
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Treasury Wine Estates, the owner of Penfolds, will sell off some of its cheaper wine brands after budget drinkers tighten their purse strings. A US court has found that Google spent billions of dollars to illegally monopolise the online search market. Mars Incorporated is considering a takeover of Kellanova, the makers of Pringles and Coco Pops. — …
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Atlassian saw its share price plummet after it warned that revenue is expected to slow down over the next year. Apple is back on the winners list after it saw growth in its revenue over the past 3 months… but not all is rosy in Apple-land. Intel is cutting 15,000 jobs and suspending its dividend as its stock fell 20% in one day last week. — Build t…
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An Aussie vodka maker, Billson’s Brewery, that makes a popular ready-to-drink vodka, has gone into voluntary administration. Microsoft saw its shares drop 7% in its worst day since October 2022 after its AI revenue juuuuuust missed its forecast. Procter & Gamble suffered its slowest sales growth in six years as consumers start cutting back on brand…
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Canva's major AI acquisition | Rex Airlines hits turbulence | Maccas hurt by its expensive burgers
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Canva has announced that it will acquire AI startup Leonardo.Ai in a big deal for Australia’s start-up ecosystem. Rex Airlines shares are in a trading halt as it tries to find a way to stay out of administration. McDonald’s sales have fallen for the first time in 13 quarters after Maccas’ Big Macs are pricing people out of the fast-food market. — G…
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Aldi Australia has announced that it’s abandoning its plan to offer online shopping because it’s doing fine without it. ChatGPT’s creator, OpenAI, is officially coming after Google Search after launching its new search feature “SearchGPT”. Hermes, the luxury clothing brand, has bucked the trend of other luxury brands by reporting a 13% rise in seco…
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Deloitte Australia has seen its revenue drop by more than $70 million in the last financial year after its consulting division was hit haaard by a slowdown in spending. Tesla has seen its share price drop 12% after it saw an enormous quarterly drop in profit thanks to more and more electric vehicle competition. Country Road Group is expected to res…
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The Inspired Unemployed's beer-deal fizzles | Mattel may have a buyer | Dolce & Gabbana opens up to respectful investors
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The merger between Mighty Craft beverages and The Inspired Unemployed’s Better Beer has fizzled out after Mighty Craft fell into administration. Mattel, the toymaker behind Barbie and Hot Wheels, has seen its share price skyrocket 20% after reports that a private equity firm is looking to acquire it. Dolce&Gabbana is flirting with the idea of bring…
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Fortescue Metals Group, one of Australia’s largest companies, has cut 700 jobs across its global workforce after its green ambitions haven’t quite met investor expectations. Microsoft has announced a new AI-powered designer app late last week, to help newbies with their basic design skills. The maker of Ray Ban sunnies, EssilorLuxotica, has acquire…
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An Australian viral beauty brand Coco & Eve has raised $100 million from a US private equity business, which will now take a majority stake in the business. Google is looking to make its biggest acquisition ever after it announced late-stage talks to acquire a cybersecurity company for $23 billion USD. Nvidia and other AI chipmakers have seen their…
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$105 million capital raise for construction-tech | Sequioa buys its own stock | Budget mobile wins against telco giants
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A construction tech company in Australia called Hammertech has raised $105 million as it looks to expand into the US and Europe. One of the major investors in Stripe, Sequoia Capital, is offering to buy shares from its earliest investors at a $70 billion USD valuation. Budget mobile brands have seen double digit growth in subscribers after the late…
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Crown Resorts has sold its 20% stake in the Nobu restaurant chain and this sale values the chain at $1.3 billion. Shein is investing $270 million USD into fund to support sustainable fashion, as it looks to put its best foot forward ahead of a potential IPO in London. BHP has announced plans to let go thousands of employees after facing intense nic…
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Aussie retailer, The Good Guys, has been alleged to have failed to provide store credits to thousands of eligible consumers…and now the ACCC wants to have their way with them! Spotify has launched a number of new features that steer it closer and closer to a full-blown social networking experience. Samsung has announced brand new tech devices at it…
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Telstra will be jacking up the prices of its mobile phone plans by more than the inflation rate as part of its plans to grow faster. Saks Fifth Avenue's parent company has acquired luxury retail Neiman Marcus for $2.65 billion USD… and Amazon and Salesforce are taking a slice too. Paramount Global, one of Hollywood’s oldest studios and Skydance Med…
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New laws mean Netflix could get Grand Final rights | Airtasker's $5 million swapsies | Threads celebrates year one
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Amazon, Netflix and Kayo could now outbid free-to-air networks for Australia’s biggest sporting events after a new law was passed late last week. Airtasker has announced a $5 million deal with ARN Media, swapping equity for marketing support. Meta has announced its Threads app has hit 175 million monthly active users after celebrating its 1 year an…
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Booktopia has gone into voluntary administration after it struggled to cope with its financial struggles. Domino’s Pizza is expecting its 2024 profit estimates to be seriously hut - thanks to the inflation of one of its most valuable ingredients - cheese. Tesla’s investors shot up its shares by 10% after its sales fell by less than expected last qu…
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TPG's content-play to take on Telstra | YouTube's worried about AI-generated content | Nike's fails to 'do it' for investors
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TPG is setting up a new battlefield against Telstra after partnership with Foxtel’s new streaming aggregation platform Hubbl. YouTube has rolled out a new policy that will allow people to request the takedown of AI-generated content that simulates their face or voice. Nike’s share price has dropped close to 20% after it announced that it expects qu…
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ANZ has been given the green light to take over Suncorp’s banking arm for $4.9 billion after nearly two years of battling and appealing - but now there’s a catch. Nine Entertainment, the owner of Channel 9 and major Australian newspapers will make up to 200 jobs redundant after struggling with weak advertising. Fujifilm is struggling to keep up wit…
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Qatar Airways' bid for Virgin | TikTok's new Instagram-competitor | New owners for Women's Basketball
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Qatar Airways is looking to acquire a 20% stake in Virgin Airlines, which acould really shake up the aviation industry. TikTok’s owner has quietly released a new social app called Whee as a competitor to Instagram where you can take photos with filters and messages. The chairwoman of Tesla and the owner of the NBL are the new majority owners of the…
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Cettire, the luxury fashion retailer’s share price plummeted by 50% after it announced a 20% drop in its earnings forecast. Myer has announced new plans to acquire other retail brands like Just Jeans and Jay Jay’s from Premier Investments - and investors like what they hear. Prezee, the Australia gift card company, has reported a $79 million loss o…
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Penfold's new Chinese strategy | Revolut's pre-IPO raise | Kathmandu's freezing cold performance
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Penfolds is planning to re-enter the Chinese market with a bang after the monster tariffs have been removed from winemakers. Revolut, the UK-based neobank, is looking to sell $500 million of shares as it prepares for one of the biggest IPOs of the year. Kathmandu’s owner, KMD Brands, has seen half-year sales drop 8.4% and its winter sales are going…
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GYG's spicy entry onto the ASX | Netflix launches "Netflix Houses" | City Chic's 30% sales drop
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Guzman y Gomez publicly listed yesterday in the ASX’s biggest float in over three years. Netflix is ramping up its physical world presence with two new Netflix Houses that lets shoppers feel like they're inside the world of their favourite shows. City Chic has warned that it’s expecting to see its sales fall by 30% this year and is desperate for so…
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Telstra quits "carbon neutral" goal | Wrigley's new angle for chewing gum | Stake.com's major lure
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Telstra has scrapped its commitment to a carbon offset scheme created by the government as well as its plans to become “carbon neutral”. Mars Wrigley, the snack behemoth, is spending millions of dollars to try and restore its chewing gum brands to their former glory. Stake.com, the online casino, is desperate to lure in tech talent from Australia’s…
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AGL Energy has invested $150 million into a new energy-tech platform to compete with Origin Energy. BeReal, the biggest social media app of 2022, has been sold for €500 million, after struggling to turn its initial hype into sustained growth. Jake Paul, the YouTube influencer and part-time boxer is launching a new personal skincare line for men. — …
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Chemist Warehouse’s merger faces mega-roadlock | Apple + ANZ's BNPL collab | Qantas acquires TripADeal
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Chemist Warehouse’s IPO listing has hit a roadblock after the ACCC has warned that its merger would “substantially lessen competition”. Apple is introducing buy now, pay later-style loans to Australian customers through a new partnership with ANZ. Qantas has wholly acquired online travel business TripADeal in a $211 million deal with the hopes to r…
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Apple has announced a partnership with ChatGPT’s creator to bring generative AI tools to iPhones - as part of their new age of AI… or ‘Apple Intelligence’. Toyota’s reputation just took a $15 billion USD hit after it was found to have falsified car safety tests. The company behind car parts retailers Autobarn and Burson have received a takeover bid…
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Virtual Gaming World's cash splash | Robinhood's crypto acquisition | Lululemon stretches its profit
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Virtual Gaming worlds, the Australian social gaming giant, has delivered a massive $360 million dividend to investors in its third payout for the financial year Robinhood, the stock trading app has announced a $200 million USD acquisition of cryptocurrency exchanges, Bitstamp Lululemon saw a big jump in its share price after it raised its profit fo…
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SPC is cutting back its canned fruit production as cost-of-living sees consumers opting for cheaper options. The owner of Champion, the sportswear brand, will sell the Champion business for nearly $1.8 billion USD to narrow its focus on “innerwear”. Zoom wants to create a ‘digital twin’ to attend meetings for you so you can go to the beach instead …
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Life360, the kids tracking software, has launched its Nasdaq IPO, which means it will now be dual-listed on the ASX and Nasdaq. Meta is testing a new feature on Instagram which will force users to watch ads on videos that you can’t scroll past - like YouTube. Booktopia is cutting 50 staff members and losing its short-lived CEO as the company strugg…
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Guzman's billion dollar listing | Take me home, Country Road | Salesforce's biggest drop in 20 years
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Guzman y Gomez, the Mexican fast food chain, has announced plans to list on the ASX in June at a multi-billion dollar valuation. The owner of Country Road Group has warned that it expects its earnings to be more than 20% lower in comparison to last year. Salesforce has seen its shares tumble more than 20% in its worst day of trading since 2004 afte…
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Catapult Sport's tracking upwards | 1 billion reasons Sony loves Queen | BHP gives up on its $72 billion bid
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Catapult Sport, the ASX-listed sports tech company, has hit $100 million USD in revenue for the first time after doubling down on growing its subscription services. Sony Music is in talks to buy Queen’s music catalogue for over $1 billion USD and this would be the largest music catalogue purchase of all time. BHP has abandoned its $74 billion takeo…
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Cettire, the Australian luxury goods marketplace, has seen its share price jump more than 10% after it denied allegations that it has fake products on its platform. PetStock, the pet food retailer backed by Woolworths has been forced to sell over 40 of its stores - and has created a new major competitor in the process. TPG has come out and said tha…
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News Corp's deal with the devil | Ticketmaster's monopoly battle | Dion Lee goes into administration
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NewsCorp has signed a deal with Open AI that will help train its ChatGPT’s engine on the back of major publications. The owner of Ticketmaster has been sued by the US Justice Department for creating a monopoly in the live events industry and “suffocating competition”. Dion Lee, the Australian luxury fashion brand, has gone into voluntary administra…
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Xero, the accounting software platform, has seen its revenue spike more than 22% but AI is not going to revolutionise the business. Webjet, the online travel bookings company, has announced a record net profit after tax - and now it’s thinking about breaking up with itself. Nvidia’s released its first quarter results, with an astronomical jump in p…
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Telstra will cut over 9% of its workforce, or 2.800 jobs, by the end of 2024 in order to stay competitive in the market. Casino giant, Star Entertainment has revealed that it’s received interest from potential buyers, but Hard Rock Cafe definitely isn’t one of them. Microsoft has released a new line of laptops, using AI chips to run the software.. …
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Pizza Hut gets flamed for $2.5 million | Sony's warning shot to the bots | Buffet's billion dollar bet
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Pizza Hut Australia has been fined $2.5 million for spamming customers with 10 million pizza-licious messages without their consent. Sony Music has sent a warning shot to AI companies, accusing them of stealing its artists’ content without permission. Warren Buffet’s Berkshire Hathaway has finally revealed the mystery business that he’s put $6.7 bi…
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The owner of Mainland Cheese and distributor of Bega Cheese is planning to sell the brands in Australia because it wants to get out of the consumer-facing market. Netflix has announced it is going to build its own advertising tech platform to compete against the big players like Google, Meta and Amazon. Nike is cutting jobs at its subsidiary compan…
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The Albanese government dropped this year's federal budget with a $9 billion surplus, and this year, it’s all about cost–of-living. OpenAI has released the most advanced version yet of its chatbot, ChatGPT, that can see, hear and talk like a real person. Crocs’ has stomped on their quarterly growth expectations after selling 32 million ugly-shoes i…
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