News: Money

Regulator ASIC has a 'culture of subservience to the big banks', says former employee

Wednesday  14:06,   25 april 2018

ASIC has a culture of subservience and acquiescence when it comes to the big banks, says a former lawyer for the corporate watchdog. James Wheeldon worked for ASIC as a junior lawyer for just under a year between 2004 and 2005, and said[...]

Female-only rideshare company says NT laws are too prohibitive

Wednesday  13:30,   25 april 2018

A rideshare company looking to launch in the Northern Territory says the age requirement for cars has been a barrier to finding drivers. Dozens of women expressed interest in driving for all-female operator Shebah in January but the company's plans[...]

Gmail’s biggest redesign is now live

Wednesday  11:30,   25 april 2018
The Verge

The world’s most popular email service is getting a big overhaul today. Google is making official the changes we saw leaked earlier this month, with email snoozing, nudging, and confidential mode making their debut alongside a substantial visual[...]

Victorian timber mills facing closure after Heyfield receives supply boost from Government

Wednesday  08:30,   25 april 2018
ABC News

Thousands of timber jobs in regional Victoria face the axe because the Andrews Government has changed agreements for wood supply, mill owners say, with logs still going to the state-owned Heyfield. Six beleaguered mill owners said the State[...]

A celebrity planner's world comes crashing down over 'risible' advice

Wednesday  08:01,   25 april 2018
Brisbane Times

He was a TV host and award winner but self-styled financial whiz Sam Henderson met his match in Donna McKenna.High-flying celebrity financial planner Sam Henderson's world came crashing down on Tuesday as the banking royal commission heard he[...]

Gucci sales surge as turnaround continues

Wednesday  07:56,   25 april 2018
BBC News

Strong first quarter sales have boosted parent company Kering amid a recovery in luxury spending.It follows a major revamp at Gucci - Kering's biggest brand - under creative director Alessandro[...]

Instagram Stories now allows multiple photo and video uploads at once

Wednesday  07:26,   25 april 2018

Instagram will now let users upload multiple pictures and videos to their Stories at once. When uploading media, you'll now see an icon at the top right corner of your screen and tapping it will allow you to select up to ten photos or[...]

Here's what economists are saying about Australia's inflation report

Wednesday  04:50,   25 april 2018
Business Insider Australia

Annual underlying consumer price inflation (CPI) in Australia now stands at 2%, a two-year high. It's currently rising faster than the RBA is expecting. Economists don't think it will be enough to see the RBA lift interest rates in the[...]

Packer's Crown under fire in fresh pokies tampering claims

Wednesday  03:30,   25 april 2018
Sydney Morning Herald

A former pokies player at Crown's Melbourne casino alleges staff gave her a plastic pick to wedge into betting buttons allowing for continuous play.Australia's largest casino operator, Crown Resorts, has been hit with fresh allegations that it[...]

Researcher behind Cambridge Analytica flap: Mark Zuckerberg is 'totally' a hypocrite

Wednesday  02:56,   25 april 2018

Aleksandr Kogan, the data scientist at the center of the Facebook data scandal, says Mark Zuckerberg is "totally" a hypocrite.In March, The New York Times and The Guardian reported that political data-research firm Cambridge Analytica[...]

NAB planners falsifying forms a 'social norm'

Wednesday  02:31,   25 april 2018

Thousands of customers were affected by false signatures as senior executives complained about having bonuses cut.Thousands of National Australia Bank customers have had their planner falsify documents relating to their finances, a senior executive[...]

Face-recognition chipmaker AMS hit by Apple order delays

Tuesday  18:55,   24 april 2018

AMS sensors are used by Apple to deliver face-recognition features that make its iPhone X stand out from rival smartphones and the Austrian company is widely expected to win follow-on contracts for the next iPhones and iPads. "Due to these product[...]

Facebook releases long-secret rules on how it polices the service

Tuesday  15:31,   24 april 2018

Facebook has faced fierce criticism for failing to do enough to stem hate speech and prevent the service from being used to promote terrorism, stir sectarian violence and broadcast acts including murder and suicide. At the same time, the company has [...]

Gravity Could Trap Alien Civilizations on Super-Earths

Tuesday  15:31,   24 april 2018

Stronger gravity requires stronger—and pricier—rockets to overcome. "On more massive planets, spaceflight would be exponentially more expensive," author Michael Hippke, an independent researcher based in Germany, told "Such civilizations[...]

Comment: Banks' misbehaviour shows power of KPIs

Tuesday  15:06,   24 april 2018
Brisbane Times

From the chief executives and company directors to middle managers, it’s not the shareholders’ pockets they’ve been so keen to line, it’s their own. They’ve been jumping whatever hurdles they’ve had to clear to get the bonuses they were promised.[...]