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☆ Enhanced Games Are Olympics With Steroids, Pay; Meet the Founder
▼ + stars: | 2024-03-31 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +14 min

Several countries pay bonuses to medal winners, and high-profile athletes may get brand deals and sponsorships, but many Olympic athletes live quiet lives. AdvertisementD'Souza suggested he received funding for the Enhanced Games in the "single-digit millions" but declined to specify the amount. So far, it's unclear what kind of talent Enhanced Games will attract. He said that at the Enhanced Games, athletes would get comprehensive health checkups to monitor the effects of "whatever enhancement protocols" they're on and ensure they're fit to compete. D'Souza said he planned to announce more details about the Enhanced Games this summer — right around the Paris Olympics.

Persons: Aron D'Souza, gymgoers, D'Souza, Thomas Bach, Bach, Uber, Christian, Christian Angermayer, Balaji Srinivasan, Coinbase's, Peter Thiel, Angermayer, Srinivasan, Thiel, Hulk, Charles Harder, Harder, didn't, Sargon, Peter, VCs, Thiel hasn't, he's, James Magnussen, James, he'd, Marta Nawrocka, BI's Gabby Landsverk, Jim Walden, Grigory Rodchenkov, it's, who'd Organizations: International, Olympic, IOC, West Germany's Olympic, The New York Times, Business, Apeiron Investment, University of Melbourne, Gawker Media, BuzzFeed, Gawker, Abrams, Australian Financial, US, Doping Agency, UFC, Drug Free, NFL, NBA, MLB, Testing Agency, ITA, CNN, FBI, Sports, Gaming Initiative, Paris Locations: Miami, Lausanne, Switzerland, Oxford, Australian, Russia

☆ Here's what bitcoin experts see ahead for the world's biggest cryptocurrency
▼ + stars: | 2024-03-17 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +5 min

The narrative on bitcoin is still bullish, though commentators see more volatility ahead. Bernstein analysts wrote this week that the rally firms up their view that bitcoin is on track to hit $150,000 by mid-2025. Here's what some of the market's top commentators have said about the outlook for the world's most popular cryptocurrency. Related stories"We built bitcoin institutional flows in our estimates to arrive at bitcoin price. Saylor said that following the bitcoin halving in April, dwindling supplies would continue to fuel demand, propelling the price momentum even higher, saying "the natural sellers are the miners."

Persons: Bitcoin, Bernstein, —, Kris Marszalek, Gautam Chhugani, Mahika Sapra, Michael Novogratz, Jamie Dimon, He's, Michael Saylor, Saylor Organizations: Service, CNBC, Galaxy, Galaxy Digital, Wednesday, JPMorgan JPMorgan, Australian Financial

☆ Jamie Dimon says the Fed should wait on the rate cuts as its credibility is 'a bit at stake'
▼ + stars: | 2024-03-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

JP Morgan Chase CEO Jamie Dimon said the US Federal Reserve should delay cutting interest rates until the second half of the year. He said the Fed should wait for more data before cutting rates. Despite the market's optimism for a soft landing, Dimon says there's a 65% chance of a recession in the next two years. AdvertisementThe US Federal Reserve should wait until the second half of the year before cutting interest rates, JP Morgan Chase CEO Jamie Dimon said on Tuesday. So, the market is pricing in a 70% to 80% chance of a soft landing.

Persons: Morgan Chase, Jamie Dimon, there's, —, JP Morgan Chase, “, Dimon, ” Organizations: US, Reserve, Service, Federal, Australian Financial, Business

☆ China ambassador says Australia wine tariff review on track
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +1 min

China's review of tariffs on Australian wine is progressing well, Chinese Ambassador Xiao Qian said on Monday, but he stopped short of confirming an Australian government claim the dispute would be resolved this month. China's review of tariffs on Australian wine is progressing well, Chinese Ambassador Xiao Qian said on Monday, but he stopped short of confirming an Australian government claim the dispute would be resolved this month. "Currently, Chinese authorities are reviewing and investigating our tariffs on Australian wine and things are moving on the right track, in the right direction," Xiao told the Australian Financial Review Business Summit. A day earlier, Australia's trade minister said China would complete its review into the years-long wine tariffs by the end of March. The standoff over China's tariffs of up to 218% on Australian wine remains unresolved.

Persons: Helen, Joey, Xiao Qian, Xiao Organizations: Australian Financial, Business, Australian, World Trade Organization Locations: Shiraz, Yarra, Greater Melbourne, Australia, China, Beijing

☆ JPMorgan's Dimon urges US Fed to wait past June before cutting rates
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +2 min

(Photo by Win McNamee/Getty Images)JPMorgan CEO Jamie Dimon on Tuesday urged the Federal Reserve to wait past June before cutting interest rates, arguing the central bank needs to shore up its inflation-fighting credibility. If I were them, I would wait," Dimon said at the Australian Financial Review business summit via a livestream from New York. I would even wait past June and let it all sort it out." Long a critic of bitcoin, Dimon said a lot of the practical uses for the cryptocurrency were illegal activity like sex trafficking, fraud and terrorism. Dimon also weighed in on artificial intelligence and said JPMorgan had two thousand people working on 400 use cases for the technology at the bank.

Persons: Jamie Dimon, JPMorgan Chase, Win McNamee, Dimon, Long, bitcoin Organizations: JPMorgan, Wall, Federal Reserve, Australian Financial Locations: Hart, Washington ,, New York, U.S, Ukraine, Gaza

☆ Why Australia's National Rugby League could help curb China's Pacific influence
▼ + stars: | 2024-03-04 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Australia's National Rugby League could help stop China from gaining more influence in the South Pacific. AdvertisementThe US appears to be courting an unlikely ally to help stop China from building its political and economic influence in the Pacific: Australia's National Rugby League. The Australian Financial Review reported that the White House will support those plans, which policymakers believe could help counter China's efforts to assert itself in the South Pacific. The South Pacific has emerged as a key battleground between Beijing and Washington in recent years. It's popular in Australia, New Zealand, northern England, France, and across the Pacific Islands and has slightly different rules to rugby union.

Persons: Joe Biden, —, Peter V'landys, Biden, Kamala Harris, Spencer Leniu, Ezra Mam Organizations: Australia's National Rugby League, Service, Financial, Biden, NRL, Sydney Morning Herald, Kiribati . Rugby, The Sydney Roosters, Brisbane Broncos, Roosters, Broncos Locations: China, South, Papua New Guinea, New South Wales, Queensland, United States, Australia, Washington , DC, Beijing, Washington, Solomon, Fiji, Tonga, Kiribati, New Zealand, England, France, Las Vegas

☆ Meet Cyrille Vigneron, the CEO of luxury jeweler Cartier who personally approves all of its designs
▼ + stars: | 2024-02-20 | by ( Talia Lakritz | ) www.businessinsider.com time to read: +1 min

As president and CEO of Cartier, he helped reinvigorate the brand with new strategies. Cyrille Vigneron speaks onstage during at a press conference in Milan, Italy, in 2020. The strategic move helped bring the vintage watches back in style — Cartier sold 15,000 of them that year. A ranking of the top Swiss watch companies published in April 2023 by Morgan Stanley named Cartier the second-largest watchmaker behind Rolex, overtaking Omega for the No. With 60 new pieces released in 2023, Cartier's watch business continues to boom, occupying an estimated 7% of the retail market share, according to the Morgan Stanley report.

Persons: Cartier, Cyrille Vigneron, Vittorio Zunino Celotto, Vigneron, — Cartier, Morgan Stanley, it's Organizations: Cartier, Australian Financial, Forbes, Rolex, Omega Locations: Milan, Italy, Swiss, watchmaking

☆ How Group Chats Rule the World
▼ + stars: | 2024-01-16 | by ( Sophie Haigney | ) www.nytimes.com time to read: +6 min

We often get glimpses of such group chats in court filings, the familiar blue-and-white bubbles of iMessage screenshotted and laid out as evidence. I know of a group chat in which, among other things, a group of successful men trade investment tips and even function sometimes as a de facto investment group. You have to wonder what was being said in this “200+ tech founders” group chat before the bank run. The dynamics of group chats — who is in them, who is not — might seem like the adult version of kids’ jockeying for a lunch table. One of my favorite group chats, now defunct, was among me and two friends I was suddenly becoming closer to.

Persons: I’m, Sean Hannity, Laura Ingraham, Tucker Carlson, Carlson, he’d, ” Ingraham, “, ”, people’s, Sam Bankman, Fried, —, ’, someone’s Organizations: Systems, Fox News, Trump, MSNBC, Australian Financial, Valley Bank, Twitter, Spotify Locations: Hayes Valley

☆ Some business leaders like Jeff Bezos hate the phrase 'work-life balance.' Here's what they prefer instead.
▼ + stars: | 2023-11-26 | by ( Haley Tenore | ) www.businessinsider.com time to read: +5 min

Over the years, CEOs and business leaders have shared their thoughts on the phrase "work-life balance." AdvertisementYou wouldn't think that the phrase "work-life balance" would be a controversial one. Here are some of the hottest takes on work-life balance, given by some of the top business executives in the US. Jeff Bezos says work and life should make a circle, not a "balance"Jeff Bezos has called the phrase "work-life balance" debilitating. TIAA CEO thinks the entire concept is a "lie"TIAA's CEO says work-life balance is a "lie."

Persons: Jeff Bezos, —, Clive Mason, Axel Springer, Bezos, it's, Elon Musk, Satya Nadella, Nadella, he's, Paras Griffin, Thasunda Brown Duckett, Alan Murray, Brown Duckett, Arianna Huffington, Andrew H, Walker, Huffington, Elon Musk Elon, STEFANI REYNOLDS, Musk, Walter Isaacson's Organizations: Service, Amazon, Business, Bloomberg, Press, Australian Financial, Getty, Oxford University, Elon, Getty Images, CNBC, YMCA, Tesla

☆ Perth Mint undertakes to comply with anti money-laundering laws
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +1 min

The world's largest gold bullion coin, the Australian Kangaroo One Tonne Gold Coin, is displayed to mark the official launch of the Perth Mint Physical Gold Exchange Traded Fund (AAAU), outside the New York Stock Exchange (NYSE) in New York, U.S., July 16, 2019. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 23 (Reuters) - Australia's Perth Mint said on Wednesday it had entered an enforceable undertaking with the Australian financial intelligence agency AUSTRAC to fully adhere to anti-money laundering laws after an external audit found compliance issues. The world's biggest producer of newly mined gold said it will conclude its anti-money laundering remediation programme, which started in March 2021, by April 30, 2025, adding that no fine had been imposed as part of the undertaking. Reporting by Deep Vakil in Bengaluru; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, AUSTRAC, Jacqueline Wong Organizations: New York Stock Exchange, REUTERS, Perth Mint, Thomson Locations: Perth, New York, U.S, Bengaluru

The logo of Australian energy company Origin is pictured in Melbourne, Australia, July 3, 2016. REUTERS/Jason Reed/File Photo Acquire Licensing RightsSYDNEY, Nov 13 (Reuters) - Australian pension fund AustralianSuper said on Monday it had rejected an "eleventh hour" offer from a Brookfield-led consortium and its partner EIG to drop its opposition to their $10.5 billion bid for Origin Energy and join the takeover. AustralianSuper said it was Origin Energy's largest shareholder, but did not specify the size of its stake as it has done in previous releases. Brookfield argues its bid, which comes with the commitment of A$20 to A$30 billion worth of investment, will decarbonise Origin Energy faster than if the company remains in public hands. However, AustralianSuper said on Monday it was also open to stumping up cash to fund Origin's transition.

Persons: Jason Reed, AustralianSuper, EIG, Luke Edwards, Lewis Jackson, Alasdair Pal, Stephen Coates Organizations: REUTERS, Rights, Origin Energy, Financial, Brookfield, Renewable, Thomson Locations: Melbourne, Australia, Brookfield, Sydney

☆ DP World cyberattack: Australian ports restart some operations
▼ + stars: | 2023-11-13 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —One of Australia’s biggest port operators has restarted some operations after a crippling cyberattack that led to a huge backup of cargo. DP World Australia, which manages the flow of nearly 40% of the country’s goods and is owned by Dubai-based logistics giant DP World, announced Monday that the resumption came three days following a breach of its IT systems. The ports’ reopening comes after “successful tests of key systems overnight,” DP World Australia said in a statement, adding that about 5,000 containers would move out of its four terminals across the country on Monday. CNN has reached out to DP World Australia for confirmation. The Australian Federal Police told CNN on Monday that it was investigating the incident, while declining to comment further.

Persons: “, Darren Goldie, Goldie, ”, Home Affairs Clare O’Neil Organizations: Hong Kong CNN, Australia’s, DP, Commercial Bank of China, Australian Financial, CNN, Fremantle, National Cyber, ABC, Australian Federal Police, Twitter, Home Affairs Locations: Hong Kong, Dubai, Sydney, Melbourne, Brisbane

☆ The biggest debate in tech
▼ + stars: | 2023-11-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at the tech industry's debate over whether AI poses a real threat to humanity. The big storyBig Tech's big lieAP Photo/Julia Nikhinson; Arantza Pena Popo/InsiderWant to get someone in tech riled up? The private event, which had an exclusive guest list, has been criticized for favoring Big Tech executives over actual AI experts. "When big tech companies, big startups, and powerful VCs start calling for regulation of their hottest new technology, something is very wrong," Alistair Barr, Insider's global tech editor, told me.

Persons: —, Heidi Klum's, Klum, Julia Nikhinson, Arantza Pena Popo, Andrew Ng, Ng, Big, BlackRock's Larry Fink, Spencer Platt, Elon Musk, Alistair Barr, It's, Alistair, Insider's Beatrice Nolan, Sam Bankman, Aaron Schwartz, Stanley Druckenmiller, Druckenmiller, Tyler Le, SBF, Wendy Lee, Alba Santaliestra, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Fed, Tech, Google, Australian Financial, Big Tech, Getty Images Tech, Wired, Xinhua, Getty, Market, Apple, YouTubers, YouTube, Mexico City Locations: Israel, Muertos, Mexico, New York City, San Diego, London, New York

☆ Everything you're hearing right now about AI wiping out humans is a big con
▼ + stars: | 2023-11-01 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +5 min

Many are shrugging off the supposed existential risks of AI, labeling them a distraction. They argue big tech companies are using the fears to protect their own interests. The timing of the pushback, ahead of the UK's AI safety summit and following Biden's recent executive order on AI, is also significant. More experts are warning that governments' preoccupation with the existential risks of AI is taking priority over the more immediate threats. Merve Hickok, the president of the Center for AI and Digital Policy, raised similar concerns about the UK AI safety summit's emphasis on existential risk.

Persons: —, You've, there's, Yann LeCun, Altman, Hassabis, LeCun, LeCun's, OpenAI's Sam Altman, Anthropic's Dario Amodei, Andrew Ng, hasn't, Anthropic, Aidan Gomez, Merve Hickok, Hickok, Rishi Sunak, Michelle Donelan Organizations: Service, Google, CNBC, Stanford University, Australian Financial, Guardian, Center, AI

☆ AI's most famous leaders are in a huge fight after one said Big Tech is cynically exaggerating the risk of AI wiping out humanity
▼ + stars: | 2023-11-01 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Andrew Ng, formerly of Google Brain, said Big Tech is exaggerating the risk of AI wiping out humans. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementSome of the biggest figures in artificial intelligence are publicly arguing whether AI is really an extinction risk, after AI scientist Andrew Ng said such claims were a cynical play by Big Tech. Andew Ng , a cofounder of Google Brain, suggested to The Australian Financial Review that Big Tech was seeking to inflate fears around AI for its own benefit. — Geoffrey Hinton (@geoffreyhinton) October 31, 2023Meta's chief AI scientist Yann LeCun , also known as an AI godfather for his work with Hinton, sided with Ng.

Persons: Andrew Ng, OpenAI's Sam Altman, —, Andew Ng, Ng, It's, Elon Musk, Sam Altman, DeepMind, Demis Hassabis, Googler Geoffrey Hinton, Yoshua, godfathers, — Geoffrey Hinton, Yann LeCun, Hinton, LeCun, Meredith Whittaker, Whittaker Organizations: Google, Big Tech, AI's, Service, Australian Financial Locations: Hinton, British, Canadian, @geoffreyhinton

☆ Google Brain cofounder says Big Tech companies are lying about the risks of AI wiping out humanity because they want to dominate the market
▼ + stars: | 2023-10-30 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Big Tech is lying about some AI risks to shut down competition, a Google Brain cofounder has said. Some large tech companies didn't want to compete with open source, he added. AdvertisementAdvertisementA leading AI expert and Google Brain cofounder said Big Tech companies were stoking fears about the technology's risks to shut down competition. AdvertisementAdvertisementIn May, AI experts and CEOs signed a statement from the Center for AI Safety that compared the risks posed by AI with nuclear war and pandemics. Any necessary AI regulation should be created thoughtfully, he added.

Persons: Andrew Ng, —, Sam Altman, It's, Demis Hassabis, Dario Amodei, Ng Organizations: Big Tech, Australian Financial, Service, Google, Stanford University, Center, AI Safety, European

☆ Aussie tycoon doubles down as lithium spoiler
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Oct 30 (Reuters Breakingviews) - Lithium M&A is becoming a dangerous sport Down Under. On Friday, Hancock Prospecting, owned by Australia’s richest person Gina Rinehart, revealed it had snapped up an 18.3% stake in Azure Minerals (AZS.AX). Unlike Albemarle, it has not tied its hands by declaring the Azure bid to be its best and final offer. But SQM boss Ricardo Ramos can switch to an off-market offer and try to buy other investors’ stakes first. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Hancock, Gina Rinehart, Chile’s, Rinehart, Albemarle, SQM, Ricardo Ramos, Antony Currie, Peter Thal Larsen, Thomas Shum Organizations: MELBOURNE, Reuters, Australia’s, Minerals, Australian, Liontown Resources, Canaccord, X, Thomson Locations: Western Australia, Liontown

[1/5] A view of the residential apartments in Country Garden's Forest City development in Johor Bahru, Malaysia August 16, 2023. The group hired PJT Partners (PJT.N) as financial adviser to lead discussions with Country Garden, two people with knowledge of the matter said. Ratings agency Moody's said on Thursday it could downgrade Country Garden's (2007.HK) 'corporate family rating' if the recovery prospects for its creditors weaken further. Moody's said Country Garden's senior unsecured rating of C was already at the lowest of its rating scale. Country Garden and Frasers did not immediately respond for a request for comment on that sale.

Persons: Edgar Su, PJT, Moody's, Frasers, Houlihan Lokey, Sidley Austin, Yeung Kwok Keung, Yang Huiyan, Yeung, Yang, Cao Jianglin, Garden's, China Evergrande, Scott Murdoch, Xie Yu, Clare Jim, Anousha Sakoui, Liz Lee, Lewis Jackson, Kim Coghill, Christopher Cushing, Jamie Freed, Lincoln, Miral Fahmy, Jane Merriman Organizations: REUTERS, HK, PJT Partners, Garden's, Australian Financial, Reuters, China International Capital Corporation, Finance, HSBC, China National Agricultural Development, SOE, Thomson Locations: Garden's, City, Johor Bahru, Malaysia, China HONG KONG, Garden's Australian, Melbourne, China, Shunde, Guangdong province, Sydney, Hong Kong, London, Beijing, Sydndey

☆ British navy chief says AUKUS submarine project needs 'rat-catchers' not regulators
▼ + stars: | 2023-10-18 | by ( David Brunnstrom | ) www.reuters.com time to read: +3 min

[1/2] U.S. President Joe Biden, Australian Prime Minister Anthony Albanese and British Prime Minister Rishi Sunak deliver remarks on the Australia - United Kingdom - U.S. (AUKUS) partnership, after a trilateral meeting, at Naval Base Point Loma in San Diego, California U.S. March 13, 2023. REUTERS/Leah... Acquire Licensing Rights Read moreWASHINGTON, Oct 17 (Reuters) - The head of Britain's Royal Navy joined Australia on Tuesday in questioning U.S. bureaucratic hurdles facing the three-country AUKUS project to supply Australia with nuclear-powered submarines. "If your rules environment is to prevent your adversaries from getting it and seeing what it is, that's probably realistic," Key said. "If your rules environment is to allow you a competitive edge in a different way, then I would question whether that's really enabling what matters to us all, which is to try and ensure a security framework." Rudd spoke ahead of a visit to Washington next week by Australian Prime Minister Anthony Albanese at which AUKUS will be high on the agenda.

Persons: Joe Biden, Anthony Albanese, Rishi Sunak, Leah, Sir Ben Key, we'd, Key, we've, Biden, Kevin Rudd, Rudd, David Brunnstrom, Lincoln Organizations: Australian, British, U.S, Naval Base Point, San Diego , California U.S, REUTERS, Britain's Royal Navy, Australia, Washington's Center, Strategic, International Studies, Britain, State Department, Thomson Locations: Australia, United Kingdom, Naval Base Point Loma, San Diego , California, WASHINGTON, U.S, Trafalgar, Jutland, Washington, Britain

Voters walk past Vote Yes and Vote No signs at the Old Australian Parliament House during The Voice referendum, in Canberra, Australia, October 14, 2023. REUTERS/Tracey Nearmy/File Photo Acquire Licensing RightsSYDNEY, Oct 16 (Reuters) - Australia's parliament will on Monday meet for the first time since the failure of a referendum on Indigenous recognition that could weaken the authority of Prime Minister Anthony Albanese. Albanese staked significant political capital on a "Yes" vote, with the opposition Liberal party opposing it. The outcome is a major setback for reconciliation efforts with the country's Indigenous community and damages Australia's image in the world regarding how it treats them. The country's main business newspaper, the Australian Financial Review, called the result "heartbreaking" for the country's Indigenous community, that make up around 3.8% of the population and have suffered from centuries of neglect and discrimination since colonisation by Great Britain in 1788.

Persons: Tracey Nearmy, Anthony Albanese, Albanese, Peter Dutton, Alasdair Pal, Stephen Coates Organizations: Old Australian, House, The, REUTERS, Rights, Liberal, Sydney Morning Herald, Australian Financial, Thomson Locations: Canberra, Australia, Great Britain, Sydney

SYDNEY, Oct 16 (Reuters) - Australian Prime Minister Anthony Albanese said on Monday he accepted his share of blame for the failure of a referendum question on Indigenous recognition that could weaken his authority. Albanese staked significant political capital on a "Yes" vote, pushing ahead despite the opposition Liberal party opposing it. He faced Liberal leader Peter Dutton during parliamentary question time on Monday for the first time since the referendum failure. The referendum outcome is seen as a major setback for reconciliation efforts with the country's Indigenous community and risks damaging Australia's image in the world regarding how it treats people in that community. Remote areas dominated by Indigenous communities voted strongly in favour of the referendum question, Albanese said, in contrast to the rest of the country.

Persons: Anthony Albanese, Albanese, Peter Dutton, " Albanese, Tracey Nearmy, Dutton, Alasdair Pal, Kirsty Needham, Stephen Coates, Gerry Doyle Organizations: SYDNEY, Australian, Liberal, Old Australian, House, REUTERS, Labor, Sydney Morning Herald, Australian Financial, Thomson Locations: Canberra, Australia, Great Britain, Sydney

☆ Australia central bank sees possible cost savings in tokenisation
▼ + stars: | 2023-10-15 | by ( ) www.reuters.com time to read: +2 min

A worker is reflected in a wall of the Reserve Bank of Australia (RBA) head office in central Sydney, Australia, March 1, 2016. REUTERS/David Gray/File Photo Acquire Licensing RightsSYDNEY, Oct 16 (Reuters) - Australia's central bank on Monday said tokenised money could help save billions of dollars in costs in domestic financial markets, as it studies whether and how to launch a central bank digital currency. Australia's government on Monday separately outlined proposals for regulating crypto and digital assets that will make platforms subject to existing Australian financial services laws and require platform operators to obtain an Australian Financial Services Licence. The RBA has been studying whether to issue a central bank digital currency (CBDC) of its own and if it would help facilitate atomic settlement in tokenised asset markets. A wholesale CBDC could also act as a complement to new forms of privately issued digital money, including tokenised bank deposits and asset-backed stablecoins.

Persons: David Gray, Brad Jones, Jones, tokenisation, " Jones, Wayne Cole, Jamie Freed Organizations: Reserve Bank of Australia, REUTERS, Rights, Australian Financial, Treasury, Thomson Locations: Sydney, Australia

☆ Polls show Australia Indigenous referendum support slipping, likely to fail
▼ + stars: | 2023-09-24 | by ( Renju Jose | ) www.reuters.com time to read: +2 min

SYDNEY, Sept 25 (Reuters) - Support for a referendum to constitutionally recognise Australia's Indigenous people slipped further, with the landmark proposal set to fail in a national vote roughly three weeks away, two opinion polls showed on Monday. Altering the constitution requires a national referendum in Australia and only eight have passed since 1901 when the country was formed. Australia, which will hold the referendum vote on Oct. 14, has no treaty with its Indigenous people, who make up about 3.2% of its 26 million population. The referendum debate has divided opinions with supporters arguing the Voice will bring progress for the Aboriginal community, while opponents say it would be divisive. It also showed the approval ratings for Albanese, who has staked significant political capital on the referendum, fell 5 points to 46%.

Persons: Anthony Albanese, Albanese, Renju Jose, Lincoln Organizations: Australian Financial, Labor, The Australian, Voters, Thomson Locations: Torres, Australia, Sydney

☆ Polls Show Australia Indigenous Referendum Support Slipping, Likely to Fail
▼ + stars: | 2023-09-24 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

By Renju JoseSYDNEY (Reuters) - Support for a referendum to constitutionally recognise Australia's Indigenous people slipped further, with the landmark proposal set to fail in a national vote roughly three weeks away, two opinion polls showed on Monday. Altering the constitution requires a national referendum in Australia and only eight have passed since 1901 when the country was formed. Australia, which will hold the referendum vote on Oct. 14, has no treaty with its Indigenous people, who make up about 3.2% of its 26 million population. The referendum debate has divided opinions with supporters arguing the Voice will bring progress for the Aboriginal community, while opponents say it would be divisive. It also showed the approval ratings for Albanese, who has staked significant political capital on the referendum, fell 5 points to 46%.

Persons: Renju Jose SYDNEY, Anthony Albanese, Albanese, Renju Jose, Lincoln Organizations: Australian Financial, Labor, The Australian, Voters Locations: Torres, Australia, Sydney

☆ Australia's first female central bank chief set to tackle reforms and cost of living crisis
▼ + stars: | 2023-09-18 | by ( Michelle Toh | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Australia’s new central bank chief, Michele Bullock, took the helm Monday after a firestorm of criticism over rising living costs engulfed the tenure of her predecessor. Philip Lowe, former governor of the Reserve Bank of Australia, speaking in Canberra in August. “Raising interest rates is never popular, but I think given the circumstances, the Reserve Bank had to do something,” noted Oliver. Within the bank, Lowe also faced questions about the culture he’d fostered since taking over in 2016. Should prices fall more slowly than expected, the central bank would face similar pressure to raise rates, Oliver predicted.

Persons: Hong Kong CNN —, Michele Bullock, Bullock, Philip Lowe, Shane Oliver, ”, would’ve, wasn’t, Lowe, Oliver, Rohan Thomson, RBA, Nick McKim, ” McKim, “ It’s, ” Oliver, disempowered, ” Bullock, ” Lowe, — Hilary Whiteman Organizations: Hong Kong CNN, Reserve Bank of Australia, AMP, CNN, Bloomberg, Getty, Reserve Bank Locations: Hong Kong, Australian, Canberra, Ukraine, Australia, United States, Europe

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