What we learned, Friday 5 December
That’s it for today, thanks for reading. Here are the main stories from today:
Dozens of structures have been reported lost to bushfire on Tasmania’s east coast, as a blaze threatens the town of Dolphin Sands.
Temperatures are soaring across the country, as New South Wales experiences its first heatwave of the summer. Heatwave warnings were also in place for parts of the Northern Territory, Queensland and Western Australia on Friday, including an extreme heatwave warning in WA’s Pilbara region.
Politicians including the treasurer, Jim Chalmers, and investors are celebrating OpenAI’s backing for a $7bn Sydney datacentre as the American tech giant behind ChatGPT sets up shop in Australia …
… but billionaire Solomon Lew says he cannot recall worse cost-of-living pressures in his decades in business.
The South Australian Liberal leader, Vincent Tarzia, has stepped down just months out from the state election.
Oprah Winfrey says Australian under-16 social media ban will help young people experience “talking to a real person”.
A leak from a cracked pipe on a critical wastewater main risks sewage spilling into Sydney Harbour, the New South Wales water utility says.
Have a great weekend.
Updated
Billionaire Solomon Lew says he cannot recall worse cost-of-living pressures in his decades in business
Billionaire retailer Solomon Lew warns cost-of-living pressures are taking a toll on consumers, leading to a weaker earnings outlook for his company, AAP report.
Premier Investments, the parent company of back-to-school brand Smiggle and sleepwear brand Peter Alexander, expects to make $120m in earnings for the 26 weeks to 24 January.
That’s down from the $129.4m generated by the two brands, which are some of Australia’s most recognised, during the same period a year ago.
Peter Alexander delivered record sales across the Black Friday and Cyber Monday discount shopping period, Mr Lew said, but overall consumer sentiment was down.
“You only have to look at what’s taking place with people not paying their electricity bills in NSW and other states and having to apply for extended terms,” the 80-year-old retail legend told reporters following the company’s annual general meeting in Melbourne on Friday.
“I can’t recall this, in all my years in business, ever [seeing] a situation like this previously.”
Updated
