🦘 Push For 5 Weeks of Leave, Energy Rebates For Western Australia, Collins Foods’ Monster Profits

G’day everyone!

Here’s what we’ve got in store for you today:

• Push For 5 Weeks of Leave

• Energy Rebates For Western Australia

• Collins Foods’ Monster Profits

Let’s have a look at the market snapshot before jumping into the news:

Five Weeks of Bliss: Push for Extra Leave to Tackle Burnout

Australian workers might soon enjoy an extra week of vacation, thanks to a fresh campaign by the Shop, Distributive and Allied Employees’ Association (SDA).

This campaign aims to update the National Employment Standards to include five weeks of leave, a move supported by business experts to curb employee burnout.

Currently, Big W and Apple employees already benefit from this perk through enterprise agreements.

The SDA is also advocating for a bump in casual loading to 27.5% to balance the increased leave for permanent employees.

Libby Sandor from Bond Business School highlights the surge of burnout and stress, with 74% of Aussies reportedly job-hunting due to these pressures.

Sandor argues that more time off could boost productivity, advocating a "use it or lose it" policy to prevent leave banking.

Workplace futurist Kim Sealing Smith also backs the plan, viewing the extra leave as a much-needed "olive branch" amid rising living costs and static wages.

However, David Alexander from the Australian Chamber of Commerce and Industry warns that longer leaves could hurt businesses by pulling crucial labor out of the workforce.

While the debate heats up, the goal remains clear: Finding ways to alleviate stress and improve well-being for Australian employees in these challenging times.

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WA's $700 Power Credit to Lighten the Load for Households and Businesses!

Get ready for a bit of financial relief, folks!

Western Australia has announced a generous $492 million cost-of-living package in its state budget to help households and small businesses tackle soaring energy costs.

Starting next week, each WA household will enjoy a $700 electricity credit, while over 90,000 lucky small businesses get a $725 boost.

The credits will be split into two instalments: one hitting the bills around August and the other during the colder and hotter months around December and January.

Expect a pleasant surprise when that first $350 chunk for households ($362 for businesses) shows up!

If you’re hooked up with Synergy or Horizon Power, the credit will slide into your bill automatically. For those with other providers, keep your eyes peeled for an application process opening in July.

And it’s not just WA riding this wave of kindness.

Queenslanders get a whopping $1,000 bill reduction starting July 1, while New South Wales extends extra rebates ranging from $250 to $350.

South Aussies, don't feel left out – a $243 cost-of-living payment is rolling out to concession holders now.

So, as we brace for those winter chills and summer heatwaves, at least there’s some good news sparking up our utility bills!

Fast Food Frenzy: Collins Foods’ KFC and Taco Bell Profits Skyrocket

Ready for some fast-food fireworks?

Collins Foods, the Aussie powerhouse behind KFC and Taco Bell, just posted a jaw-dropping 500% increase in full-year profit, hitting $76.7 million for the year ending April 28.

So, what's cooking?

The soaring profits come from a combo of smart moves and a universal craving for affordable eats, especially with the pinch on wallets these days.

Even though KFC saw a tiny sales dip (down 0.1%), Taco Bell came out sizzling with a 0.6% uptick.

Overall, Collins Foods raked in 7.4% more revenue, setting a new record at AUD 1.5 billion. They saw a 12% boost in underlying EBITDA and a 15% hike in underlying EBIT.

Their cash game is strong too, with net operating cash flows at AUD 176.4 million.

Shedding some debt, they cut it by AUD 46.7 million to AUD 165.5 million, thanks mainly to selling Sizzler Asia and solid cash generation.

Plus, dividends are up slightly, now at AUD 0.28 per share.

Looking ahead, Collins Foods is eyeing more KFCs in Australia and scouting for growth across Europe, even considering mergers and acquisitions to speed things up.

Taco Bell’s charm offensive is definitely working too, with value-packed menus and slick marketing boosting both brand awareness and customer trials.

So, whether it’s bargain buckets or taco deals, Collins Foods is making every bite count!

Qantas Takes a Nosedive in Rankings but Aims for a Steady Climb Back

Qantas isn't flying high in the latest World Airline Awards – in fact, it's crash-landed from 5th place in 2022 to a startling 24th.

Under its new CEO, Vanessa Hudson, the airline's boardroom is buzzing with more concern than the cockpit these days.

Making headlines for all the wrong reasons, Qantas has been in hot water over the controversial sacking of 1,700 ground crew during the pandemic and the infamous "ghost flights" debacle, selling seats on flights that never even existed.

The criticism? Management seems more obsessed with bottom lines than with keeping passengers and staff happy.

Once boasting an impeccable safety record, Qantas can no longer rely on that alone to save face as safety standards become universally comparable.

Yet, all hope isn't lost.

Qantas is responding by rolling out an enhanced frequent flyer program called "Classic Plus," aiming to alleviate some customer frustration with more premium seat offerings.

Plus, they're planning impressive nonstop flights to Paris, London, and New York with their upcoming ultra-long-range A350s, set to debut in 2026.

Adding to this, Qantas is investing in new Airbus A320XLR and A220 aircraft, promising better service quality.

While the airline is currently facing turbulence, these strategic moves might just help Qantas soar back to its former glory.

Buckle up; it’s going to be an interesting flight!

You Made It!

If you’ve read all the way up to here, we just wanted to let you know that you’re an absolute legend!

Time to go to work and show off how clued up you are about what’s going on in the business world 💪

Keep an eye out for tomorrow's newsletter. Until then, we’d love to get your feedback below!