Industry News

23-10-2019 Australian Border Force The Australian Government’s Illicit Tobacco Taskforce (ITTF), led by the Australian Border Force (ABF) has detected more than one million cigarettes in an air cargo shipment from Korea declared as ‘mini massagers’. On 19 October 2019, the consignment was targeted for examination. ABF officers inspected the shipment which contrary to the declaration, contained nothing other than 5,000 cartons of cigarettes. A total of 1,094,000 cigarettes were seized, weighing more than 1 tonne, which represents more than $1.1 million in evaded duty and GST. Apart from the false declaration the consignor had made no effort to conceal the cigarettes in a brazen attempt to circumvent Australia’s border. Investigations into the people behind the attempted importation are ongoing. On 1 July 2019, it became illegal for anyone to import tobacco without a permit, or in contravention of permit conditions. Tobacco can no longer be imported through the mail…

ZOE SAMIOS OCTOBER 23, 2019 The Australian Bauer Media softcore titles The Picture and People will close by the end of the year, marking an end to decades of magazines featuring topless models and stories about sex. The Australian understands the German publisher was forced to axe the two titles after a number of major retailers include BP and 7 Eleven decided to pull the magazines from shelves. Staff have been informed of the decision. A spokeswoman for Bauer Media said the business was working with staff to find “suitable redeployment”. “Discussions to close Picture and People Magazines have been taking place as the magazines have lost ranging, which has affected their commercial viability,” the spokeswoman said. “As closures impact a number of people, including some staff and suppliers, they need to be well considered and timed appropriately.” The decision to close marks an end to more than 60 years…

KIERAN ROONEY, October 23, 2019 Herald Sun High-speed trials of driverless cars are about to start on Victorian roads, and “game-changing” roads for automated vehicles are on the horizon. Future Victoria – How technology will change our lives PwC Australia data and analytics partner John Studley looks at how technology will continue to affect Victorians’ lives,… Driverless cars could travel on specially zoned freeways in as little as three years. Trials of automated vehicles are set to take place on high-speed rural roads in Victoria from next month, starting with the Mornington Peninsula. Authorities hope the new technology could even help cut the road toll. Similar testing will begin near Ballarat in December, with the state government allocating $9 million to test future car technology. Ford Australia’s Trent McNeil said the technology to allow driverless cars was closer than we thought. “The real game changer is likely going to be…

Tim Harford Presenter, 50 Things That Made the Modern Economy Economists have a bit of an image problem. People think we shamelessly massage statistics, overconfidently make terrible predictions, and are no fun at drinks parties. Perhaps some of the blame for this lies with the man who, a century ago, was probably the most famous economist in the world – Irving Fisher. It was Fisher who notoriously claimed, in October 1929, the stock market had reached “a permanently high plateau”. Nine days later, came the huge stock market crash that led to the Great Depression. As for parties, the best that can be said for Fisher was he was a generous host. As Mark Thornton records in The Economics of Prohibition, one of Fisher’s dinner guests wrote: “While I ate right through my succession of delicious courses, [Fisher] dined on a vegetable and a raw egg.” A fitness fanatic, he…

Sue MitchellOct 23, 2019 AFR Share Metcash challenger IRExchange, an online grocery wholesaler, has gone into administration after being sued by disgruntled investors unhappy about a proposed recapitalisation. McGrathNicol partners Rob Smith and Keith Crawford were appointed voluntary administrators on Wednesday after a syndicate of investors lodged a statement of claim in the Federal Court in NSW last Friday. The administrators have called for expressions of interest in a sale of the four-year-old business, or a recapitalisation through a deed of company arrangement. It is understood the administrators are hoping several investors who had agreed to commit more capital and who supported a change in IRExchange’s business model will be interested in bailing it out. Documents lodged with the Australian Securities and Investments Commission show chief executive Brett Charlton, non-executive director Ian Hicks and company secretary Anand Sundaraj resigned on Tuesday, one day after the company was due to hold…

DANIELLE ZOELLNER25 October 2019DAILYMAIL.COM Whole Foods released its 2020 predictions for popular health food trends Last year it predicted a rise in hemp, eco-friendly packaging, and faux meat The company is now predicting for a rise in alcohol-free beers, seltzers, and teas It also predicts for seed butters and spreads to push past the usual almond and peanut ingredients to instead include watermelon seeds and pumpkin seeds Whole Foods stated its also seen a rise in meat products incorporating plant-based ingredients to appease growing trends  Every year offers opportunities for people to embrace new health fads and discover unique foods. Whole Foods has capitalized on people’s interest discovering new foods and drinks by revealing each year its predictions for the top healthy trends to overtake the market for the following year. The company revealed it predicts 2020 will include trends such as the rise in alcohol-free drinks and innovative nut…