As if we needed another data point to remind us of the cost of living crisis - last week, an international Deutsche Bank report found Melbourne and Sydney were the first and second most expensive cities in the world for beer.

In both cities, the report found prices have increased by 89% and 82% respectively than in 2016 (and federal taxes on beer haven’t meaningfully changed since 1983).

Sydney is also the second-most expensive city in the world for public transport, behind London, with New York in third spot… and Melbourne in fourth.

Just wait till you hear about the cost of chicken salt in the titbit.

The FIFA World Cup wrapped up on Monday morning Australian time – and the numbers off the pitch were almost as staggering as the action on it.

The tournament was the most profitable sporting event in history, generating an estimated $US11 billion ($A15.7 billion).

Champions Spain also walked away with $US50 million in prize money after defeating Argentina 1-0 in extra time.

Here’s what to know about the money behind the World Cup.

This year’s tournament generated 56% more revenue than the previous World Cup in Qatar, which brought in $US7 billion.

The total prize pool reached an eye-watering $US655 million – 50% more than was offered at the previous tournament.

Spain received $US50 million as champions, while runners-up Argentina still walked away with $US33 million.

Each qualifying team was also given $US1.5 million to help prepare for the tournament.

The Socceroos received $US11 million after being knocked out in the second round, while teams eliminated in the first round took home $US9 million.

FIFA, football’s global governing body, expects to earn $US15 billion across its 2023–2026 cycle, well above its initial projection of $US11 billion.

As a not-for-profit organisation, FIFA says the money will be reinvested into growing the game around the world.

Its revenue comes from ticket and merchandise sales, broadcasting rights, sponsorships and commercial partnerships.

Part of the unexpected boost came from FIFA’s decision to charge both buyers and sellers a 15% fee when tickets were resold.

Last-minute tickets to the final at New Jersey’s MetLife Stadium reached as high as $US32,000 late last week, while official resale tickets were fetching up to $US2.3 million.

FIFA also made the controversial decision to allow commercial advertising during mandatory hydration breaks — one of the few pauses in play outside half-time.

This year’s World Cup was also expanded to 48 teams, stretching the tournament from four weeks to six and creating even more opportunities to make money.

FIFA President Gianni Infantino also secured a 33% increase to his annual bonus last year, taking his total income to more than $US6 million.

Official modelling suggested the tournament could add $US40.9 billion to global GDP. Around $US17.2 billion of that was attributed to the US economy, with much smaller shares going to co-hosts Canada and Mexico. However, economic modelling of this kind is often debated.

Reporting by Lachlan Keller.

Australia’s financial regulator handed out a record $830 million in fines this past financial year.

The Australian Securities and Investments Commission (ASIC) is Australia's top financial watchdog, keeping an eye on companies and financial markets to make sure they're complying with the law.

It has announced that, along with the $830 million it has issued in fines, it will be returning $644 million to Australians.

Let’s take a look at what some of the companies were fined for.

The largest fine was issued to a company called Union Standard International Group (Union Standard) and two other companies that operated under its licence. Altogether, the fine came to about $300 million – the largest ASIC has ever issued.

What did they do? Well, Union Standard sold a type of product called a CFD, which is basically a bet you can place on whether the price of something (for example, a share or a currency) will go up or down. They are considered so risky that they are not available to everyday investors in some jurisdictions, such as the U.S. While they are available in Australia, they are highly regulated by ASIC.

ASIC found that Union Standard was profiting from customer losses, and “deliberately” targeting “inexperienced and vulnerable people using aggressive sales tactics”. It also found that it lied about the amount of profits that could be made (among a list of other illegal conduct).

ASIC cancelled Union Standard’s financial licence in 2020, around the same time it commenced civil proceedings. The Federal Court only handed down the penalty in June this year.

Last year ASIC successfully fined ANZ Bank a combined total of $250 million for widespread misconduct.

They were four separate things it did wrong:

International bank HSBC was ordered to pay $35 million after admitting it failed to protect customers from scams. This included taking too long to investigate scam reports and having no effective system in place to help customers get access to their accounts after they’ve been scammed.

Following ASIC’s investigation, HSBC set up a program to reimburse affected customers. Over $20 million has been paid back so far, with further payments expected by the end of July.

ASIC chair Sarah Court said of the fine: “Banks have been well on notice about the risks of scams for some time. They have now been given a clear message to have adequate controls and ensure their interactions with scam victims help – not hinder.”

ASIC has made a push in recent years to be tougher on enforcement after accusations of weakness throughout the 2019 banking royal commission.

It found that “too often, financial services entities that broke the law were

not properly held to account”.

In 2025, ASIC announced it had doubled the number of new investigations and nearly doubled the number of new matters filed in court.

Reporting by Lachlan Keller.

A 25-year-old French pharmacy cream is having a moment - and it's not hard to see why

Avène Cicalfate+ Restorative Protective Cream has been a dermatologist go-to for 25 years, loved for calming and repairing sensitive, irritated skin. Made with Avène Thermal Spring Water and a gentle, clinically-tested ingredient, it visibly repairs skin within 48 hours and helps with everything from post-procedure sensitivity to everyday dryness and redness.

“Cheap as chips” may need a cost-of-living update.

A Sydney pub is being roasted online for charging extra for chicken salt – $3 for members and $5 for non-members.

The Prince Hotel in Kirrawee, in Sydney’s south, charges the same amount for all its condiments, from tomato sauce to salsa verde.

The menu sparked disbelief in the local Facebook group Everything Sutherland Shire, where one user pointed out that an entire bottle of chicken salt costs less than $4 at Woolworths.

At this rate, the chicken salt could soon cost more than the chips.

Reporting by Lachlan Keller.