Mindblown: a blog about philosophy.
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Gold hit a five week low with further losses expected
Gold has sunk for the sixth straight session, reaching a five week low with more losses expected in the coming days. U.S. gold futures settled at $1,203.20 on Friday. Gold futures were at the lowest level since February 1st at $1,202.90 with the February level being $1,199.70. Spot gold didn’t fair much better, as it was down by 0.32% at $1,203.58 per…
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Visa is changing how people pay
Payments technology has changed significantly over the last twenty years, with traditional cash payments being slowly outmoded by other methods of payment. This is due in large part to Visa, which, along with other credit card companies, has driven and revolutionised payment technology. Their latest payment innovation is a wearable pay band. According to Visa, the payment…
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Airbus unveils Pop.Up passenger drone in Geneva
Airliner manufacturer Airbus has launched its concept for a passenger drone capable of morphing into a car at the Geneva Motor Show. The conceptual model, titled the Pop.Up, envisions a transport option made up of a 2.5m x 1.4m x 1.5m pod. The capsule can both attach to a chassis on roads to transform into a two-seater…
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ACCC rejects insurers’ car commission deal
The Australian Competition and Consumer Commission (ACCC) has rejected the combined effort of insurance companies to cap the commissions they pay to those that sell their add-on policies. The insurance companies attempted to cap the commissions of car dealerships that that sell their add-on policies to 20%, after it was determined that the market was failing…
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Qantas among airlines fighting airport fees
Australasian airlines, including Qantas and Air New Zealand, have made moves to fight excessive airport fees for consumers by setting up a new advocacy group for the aviation industry. The move comes after a report from the Australian Competition and Consumer Commission (ACCC), which claimed Australian airlines and airline passengers had paid up to $1.6bn…
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Turnbull declares Australian ‘energy crisis’
Prime Minister Malcolm Turnbull has today warned of an impending “energy crisis” as tensions rise surrounding a dramatic shortfall in gas-powered electricity production. Speaking to a conference hosted by the Australian Financial Review this morning, teh Prime Minister warned that the findings of Wednesday’s report by the Australian Energy Market Operator (AEMO) were concerning. He argued…
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Centrelink overpayment errors ‘not counted’
The Senate inquiry into Centrelink’s automated debt recovery system has found that the system has not kept track of how many overpayment errors were caused by the agency itself. Greens senator Rachel Siewert has called for greater clarity from the government service on the functionality and reliability of the new automated system. “I think it…
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Tech giants respond to CIA hacking leaks
Technology titans including Apple, Samsung and Microsoft have been quick to respond to the Wikileaks files detailing CIA hacking tools by publishing security reviews of their products. The whistleblower website, founded by Julian Assange in 2006, published on Tuesday the first part of what it code-named ‘Vault 7’. ‘Vault 7’ is the largest ever collection of…
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ATO targeting the cash in hand economy
The Australian Tax Office (ATO) is cracking down on the cash in hand economy that generates up to $15 million in turnover each year. Currently, 1.6 million businesses that operate with cash only, including hairdressers, cafes and trade persons. Assistant Commissioner Tom Wheeler has said that the measure is not targeting any particular business. “We know that the majority…
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Wikileaks drop ‘Vault 7’ documents
Wikileaks have dropped thousands of documents that reveal sensitive information about the CIA and their entire hacking capabilities. The documents allege that the CIA exploited flaws within Apple and Samsung phones to monitor the actions of citizens and corporations. The CIA reports show the USG developing vulnerabilities in US products, then intentionally keeping the holes open. Reckless beyond…
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