The company’s boss, Changpeng Zhao, served time in jail over anti-money laundering failures. To get his users’ money back, he must hope the rest of the industry has learned a lesson.

#binance #zhao #changpeng

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Wall Street on edge after $1.4 trillion wipeout

Business & Economy

1w ago

Wall Street on edge after $1.4 trillion wipeout

For years, Wall Street has been happy to write blank cheques for some of the biggest companies in the world. But investors are now starting to get nervous.

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Westpac expects 11 per cent house price fall, posts $6.8 billion profit

Business & Economy

1w ago

Westpac expects 11 per cent house price fall, posts $6.8 billion profit

The nation’s second-biggest lender expects interest rates to remain “elevated” and for house prices to have fallen more than 10 per cent by March.

#interest-rates

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ASX set to slip, Wall Street hit by tech rout; Binance sees withdrawals spike as it returns online

Business & Economy

1w ago

ASX set to slip, Wall Street hit by tech rout; Binance sees withdrawals spike as it returns online

A selloff for tech stocks got even worse on worries that Wall Street’s frenzy around artificial-intelligence technology sent prices too high.

#asx #binance #australia

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The $315b debt binge that’s driving up the cost of borrowing

Business & Economy

1w ago

The $315b debt binge that’s driving up the cost of borrowing

The AI craze is not only threatening to wipe out jobs and inflate a sharemarket bubble. It’s also costing governments more when they borrow.

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It is the RBA’s job to fight inflation, but governments must do more to help

Business & Economy

1w ago

It is the RBA’s job to fight inflation, but governments must do more to help

The RBA and Australian governments are pulling in opposite directions. No wonder inflation pressures persist.

#rba #inflation #australia

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Super funds slammed for ‘blaming customers for complaints’

Business & Economy

1w ago

Super funds slammed for ‘blaming customers for complaints’

Complaints have surged in the multitrillion dollar super sector, but the watchdog says fund trustees are too readily blaming issues on members.

#superannuation

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The vitamins you may be wasting your money on, and the foods to eat instead

Business & Economy

1w ago

The vitamins you may be wasting your money on, and the foods to eat instead

Vitamins and supplement sales may be booming, but according to the experts, eating a balanced diet can provide you with all their benefits, plus many more. Here’s what to focus on.

#nutrition #australia

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Top chef Scott Pickett faces court grilling over collapse of super fund

Business & Economy

1w ago

Top chef Scott Pickett faces court grilling over collapse of super fund

Pickett will be called to a public examination about his business dealings with First Guardian’s manager, David Anderson, and their joint hospitality business.

#scott-pickett #anderson

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