- The RBA has been working on a digital version of the Australian dollar. In its submission to a senate commission, the RBA said its innovation lab is working on a digital currency denominated in dollars. It is unlikely it will be released to the public, instead it could be used to facilitate transactions between banks and businesses.
- We all saw the unsettling images of tennis players at the Australian Open struggling to breathe through the bushfire smoke. Organisers have said “while the conditions we are currently facing are unusual and problematic, we are confident we will again deliver a world-class Australian Open. Meaning, the show will go on.
- As of last week, the wildfires – some of the worst in Australia’s history – had burned 25 million acres, claimed the lies of 27 people and destroyed 2,000 homes. A billion animals are feared dead. Currently about 70% of Australia’s 3 million square miles of land is covered by a layer of grey and brown smoke. It is expected the smoke will make a full circuit of the globe and return to Australia. On an inspiring note, the donations & fundraisers are the biggest in history of everyone coming together. Keep donating!
- Wildly popular short-form video platform Tik Tok is hiring up in Australia. The company, owned by Chinese outfit ByteDance, has posted a number of job ads for roles in Sydney including head of content and operations, head of communications and legal counsel. Tik Tok had a great year in 2019 – amid some controversy – and it seems they’re trying to build a content and ad operation down under.
- We’ve got another casualty in Australia’s retailpocalypse. Jeanwest has just gone into administration, KPMG head of retail restructuring James Stewart said in a statement. “Like many other retailers, the business has been challenged by current tough market conditions and pressure from online competition,” Where will we get our boxy blue jeans now? Also on the list video games retailer EB also feels the pinch in Australia, “Like all businesses, we are constantly evaluating our property portfolio to ensure that our stores mix is in-line with the ever changing retail landscape,” the company said. “After careful consideration we will be closing 19 unprofitable stores at the end of January.” You can visit their website to see if your local is affected.
BONUS ITEM
Controversy continues over a shoe! The man and woman who hold the marathon world records both compete in Nike Vaporfly shoes, and the organisation which oversees running events is considering whether to ban them. World Athletics’ currently investigating. The secret to the Vaporflys is its sole technology helps runners lose less energy per step.