Business

Social media tech unicorn Linktree cuts 17pc of staff

Social media tech unicorn Linktree cuts 17pc of staff

Instead, tech valuations have taken a substantial hit in both public and private markets, as interest rates rise and the cost of capital goes up. “Conditions changed faster than expected and those assumptions I made were wrong. I have many learnings to take into the next phase of building Linktree. That next phase involves narrowing …

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The US is bidding to cap the price of Vladimir and Putin Russia's oil

The US is bidding to cap the price of Vladimir and Putin Russia’s oil

The core of her proposal is that an international price cap of between $US40 and $US60 a barrel – a level just above Russia’s break-even productions costs of between $US30 and $US40 a barrel – would be imposed on Russian oil shipments. Those importers that could demonstrate that they had observed the cap would be …

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Airplane etiquette: Aussie traveler calls out ‘ballsy’ plane act during recent flight

Let’s face it – the middle seat on a plane is the absolute pits and having to put up with fellow passengers making it even worse is just not right. Our own Shelly Horton recently fumed about how she was “so squished” in the middle seat on a flight that she called for a “refresh …

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Australia's central bank launches digital currency pilot |  Crypto

Australia’s central bank launches digital currency pilot | Crypto

Reserve Bank of Australia says a year-long trial will explore “innovative use cases and business models” for currency. Australia’s central bank has unveiled plans to examine the potential economic benefits of introducing a central bank digital currency (CBDC). The Reserve Bank of Australia (RBA) said in a statement on Tuesday it would carry out a …

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Bill Evans Westpac 2022

Business confidence rises with strong profits, but consumers are getting more pessimistic

There is a stark difference in mood in the economy. Key points: Consumers are deeply pessimistic, but still spending Business confidence has improved However, economists think spending will start to drop as interest rate increases bite Businesses are enjoying prosperous conditions with high profits and rising confidence, but consumer sentiment has fallen into deeply negative …

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The suburbs bearing the brunt of the Reserve Bank's war on inflation

The suburbs bearing the brunt of the Reserve Bank’s war on inflation

“We do think there will be people who are going to struggle with these higher rates but it’s probably a small cohort at this stage,” she said. First-time buyers using various government support measures clustered into particular parts of the country over the past three years. In Melbourne’s outer suburbs they included Cranbourne, Mickleham, Craigieburn …

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Former Demon James Strauss takes legal action against teammate Joel Macdonald

Former Demon James Strauss takes legal action against teammate Joel Macdonald

Macdonald would later tell Strauss, according to the writ, that he had negotiated with the ASX for the escrow period to be reduced to one year because he was never a director or employee of GetSwift. Just days before the float in December 2016, Strauss signed an agreement prepared by GetSwift that him from selling …

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Google outage: Explosion at data center injures three electricians

Google outage: Explosion at data center injures three electricians

Google suffered a global outage today while an explosion at a data center in the United States left multiple staff injured. Three electricians were critically injured after an “electrical incident” at the data center in Council Bluffs, in the US state of Iowa, local police and Google told news site SF Gate. The accident unfolded …

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Big lenders cut fixed rates despite Reserve Bank of Australia cash rate hikes

In the past week, eight lenders on the RateCity database have cut at least one fixed rate. This includes Westpac, CBA, Firstmac, Loans.com.au, Macquarie Bank, Suncorp, Homestar Finance investment loans and Athena Home Loans. Eighters cut fixed rates despite official cash rate rising. (9News) Millions of borrowers have been tempted by ultra-low fixed rates, most …

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