Mark Thompson, a British quantum engineer, returned from PsiQuantum’s Palo Alto headquarters to take charge of setting up shop in his homeland. It is the first site PsiQuantum has set up outside the US, but Thompson said British taxpayer support was not the motivating factor. “This is a strategic move. It was where we needed...
Category: Bussiness
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Live: ASX opens lower as federal budget dominates week ahead
Good morning! I’m Stephen Letts from the ABC’s business team, and along with Michael Janda and Kate Ainsworth, we’ll be taking you through the day’s play on the markets and in finance, and as always, aiming to make every post a winner. The auspices are not brilliant, with the ASX futures pointing to a slight...
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Takes off like a helicopter, flies like a plane, this all-electric hybrid aircraft could change the way we fly
In short: Testing is underway for a hydrogen-powered electric aircraft developed by Australian startup, AMSL Aero. The company received its first commercial order from AirLink and could be flying regional passengers by 2027. What’s next? Hydrogen fuel cell technology is expected to feature in the federal government’s Aviation White Paper. While the race to transform electric vehicles...
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How 1-cent transactions are being used to deliver abusive messages
In short: An ongoing Commonwealth Bank pilot tackling financial abuse has identified strong enough cases to refer to police. The bank said people transfer low-value amounts with threatening messages in the description to current or former partners. What’s next? A parliamentary committee will inquire into the role of banks in preventing financial abuse in Australia. Major banking...
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Back in business? PwC Australia wins new taxpayer-funded contract as government sets date for potentially more
In short: PwC Australia is winning more government work, despite multiple investigations continuing into potential criminal behaviour by members of the firm. The Australian Federal Police, Tax Practitioners Board and the Senate have concurrent probes into a tax leaks scandal that could have cost Treasury millions. What’s next: The Finance Department reminded bureaucrats not to give PwC...
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‘It’s a complete s***show’: Inside the franchising scandal at global cosmetic giant Laser Clinics
“Con artists”, “amateurs”, “Avoid! Avoid! Avoid!” are some of the more polite reviews that lit up social media when a global retail franchise network started closing stores with little thought for its customers who had pre-paid for services. Laser Clinics, which offers laser hair removal, injectables and other non-surgical cosmetic treatments, first opened in Australia...
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Budget to help easing Australia inflation, says government
Business Budget to help easing Australia inflation, says government Central bank expects that it will pick up to 3.8pc by June and stay there until the end of the year Published On: Sun, 12 May 2024 10:02:20 PKT SYDNEY...
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Australia targets social media with parliamentary probe – Brand Wagon News
Australia announced on Friday that it would hold a parliamentary inquiry to look into the negative impacts of social media platforms, saying they have significant reach and control over what Australians see online, with almost no scrutiny. The government has criticised social media platforms for not being quick enough to remove violent posts and seeks...
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Palestinian Australians urge university to cut ties with company supplying steel to Israel
In short: Young Palestinians are among those taking part in student camps at Australian universities, opposing the institutions’ ties with Israel. University of Wollongong student Rawda Alsharoof said she feels guilty that some of her uni fees could be contributing to the Israeli military. What’s next? The students are calling for a meeting with the university administration...
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‘It’s so shameful’: Seasonal workers, tourists stranded as Air Vanuatu enters voluntary liquidation
In short: Air Vanuatu is in voluntary liquidation and Ernst & Young have taken control of the national airline. Authorities are unable to say when international flights will resume as passengers remain stranded in Australia and Vanuatu. What’s next: Ernst & Young says it is moving as fast as possible so that passengers can get home. Air...
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ASX closes in positive territory after Bank of England holds rates steady — as it happened
Westpac’s economic team has just circulated a note that explains how they’re thinking about things. The bank’s chief economist, Luci Ellis, has some really interesting things to say. Let’s start with the big picture. She says the world could be entering an era in which higher interest rates are going to be more common: “Our house...
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The government’s future gas policy first must ensure Australia’s future gas needs
Almost immediately after Resources Minister Madeleine King unveiled her plans for an expansion of our gas industry, the sniping began, the battle lines already drawn. On one side is the federal government, with seemingly conflicting ideals of reducing carbon emissions while kickstarting a rebuild of our manufacturing sector, arguing that more gas is needed for...