Month: August 2024
How Qantas’s results could impact cheaper airfares for Australians.
With Qantas reporting a $1 billion profit, passengers are asking one key question: will airfares get cheaper in the future? Unfortunately, the outlook isn't promising. Qantas' profit is down 28 percent year-on-year, and the airline attributes this partly to lower fares. However, this doesn’t guarantee that fares will remain low moving forward. Announcing the results, Qantas CEO Vanessa Hudson warned that if recommendations from the recent aviation white paper for improved passenger compensation due to flight delays[more...]
ANZ head assures that the bond scandal has not cost taxpayers anything.
According to the bank's chief, taxpayers have not been burdened by the misconduct of ANZ employees. ANZ CEO Shayne Elliott informed a parliamentary inquiry into the big four banks that the company would face repercussions for the misconduct, including potential pay cuts. The bank was investigated by the corporate regulator for improperly submitting monthly secondary bond turnover data to the federal government in 2023.
With the rise in electric vehicle sales, the increasing number of charging points is making long trips feasible, but drivers are seeking greater reliability.
When Wei Liew found himself unable to charge his electric vehicle in the remote Queensland outback, the next 100 kilometers were uncertain. With his three-year-old daughter Hayley in the back seat, Mr. Liew remained determined, gripping the steering wheel and pressing on to reach his destination. Despite the tense moment, the Brisbane resident views his recent road trip along the Natural Sciences Loop in Queensland's far southwest as a success. The tourist route spans over 2,300 kilometers,[more...]
Inside Qantas’ Airbus A321XLR: Airline Unveils Business and Economy Seats for New Planes Arriving Next Year
Qantas has offered a first look inside its new Airbus A321XLR aircraft, set to begin flying in Australia early next year. This week, the airline unveiled the business and economy class seats that will be installed in these single-aisle planes, which will operate on domestic routes as well as some international services. The A321XLRs will feature 20 business class seats, with the first three aircraft accommodating 180 economy seats, while subsequent deliveries will have 177 seats. There[more...]
OpenAI reports that ChatGPT’s weekly user base has grown to 200 million.
AI startup OpenAI announced on Thursday that its chatbot, ChatGPT, now boasts over 200 million weekly active users, doubling its user base since last fall. Launched in 2022, ChatGPT, which generates human-like responses from user prompts, had reached 100 million weekly active users by November, according to OpenAI CEO Sam Altman. The company also revealed that 92% of Fortune 500 companies are utilizing its products, and the use of its automated Application Programming Interface (API), which enables[more...]
Analysts Discuss How Supply Overhang and Market Shocks Impact BTC Liquidity
Following the dramatic collapse of FTX, liquidity has made a comeback in crypto markets, particularly with the launch of the highly anticipated BTC and ETH ETFs. A report by analytics firm Kaiko emphasizes that understanding liquidity is complex and requires a multi-indicator approach, rather than just focusing on volumes or market depth alone.
ANZ CEO Shayne Elliott appeared before the House of Representatives Standing Committee on Economics.
Thank you for the opportunity to speak before you today. Accompanying me is Maile Carnegie, Group Executive for our Australia Retail business. Maile and I are eager to discuss issues such as the cost of living, scams, and interest rates with you. However, before we delve into these topics, I would like to address recent developments concerning ANZ. Last Friday, APRA announced an increase in ANZ's capital add-on due to concerns about our non-financial risk management practices.[more...]
The report outlines three key reasons why the world is falling short of its renewable energy targets.
The deployment of renewable energy technologies is lagging what is needed to meet global targets, as investors are hesitant to commit the necessary capital, which jeopardizes hundreds of gigawatts of crucial renewable energy capacity. Despite substantial support for renewable energy in major regions like Europe and the United States, the near-term pipeline is at risk. Many projects have yet to reach the final investment decision (FID), increasing the likelihood of cancellations. These are the key findings from[more...]
The Bulldogs’ AFLW team is set to be featured in a double-header, Josh Battle has made a decision on his future, the Pies have signed veterans, and Hawkins is nearing a return, possibly through the VFL.
The AFL is expected to reschedule the Western Bulldogs' round two AFLW match to avoid clashing with the men's elimination final against Hawthorn. The women’s game will likely be played before the men’s final as part of a doubleheader at the MCG. The Bulldogs had requested the change, as the original 5:05 pm start time for the AFLW game made it difficult for fans to attend both matches. A club source indicated that the league would confirm[more...]
Deloitte analysts caution that Australia’s retail sector has been in recession for 18 months.
Australia's retail sector has been in recession for nearly two years as Australians have cut back on shopping, analysts have warned. Deloitte Access Economics partner Dave Rumbens noted that retail spending has declined in six of the last seven quarters, predicting a bleak Christmas shopping season. "The evidence shows that Australia's retail sector has effectively been in recession for the past 18 months," Rumbens said. "A retail recession sequel is not surprising. Real retail spending has fallen[more...]
