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Big tech says Australia “rushed” social media ban for youths under 16
Date: November 29, 2024
SYDNEY (Reuters) – Big Tech corporations on Friday hit out at a landmark Australian law that bans youths under the age of 16 from accessing social media, saying the law was “rushed” through parliament. Australia approved the social media ban for children late on Thursday. The law forces tech giants from Instagram and Facebook owner...
Australia’s star entertainment shares hit record low on liquidity concerns
Date: November 28, 2024
(Reuters) – Embattled casino operator Star Entertainment closed 7.1% lower on Thursday, hitting an all-time low of A$0.195, as it flagged challenging operating conditions, near-term liquidity challenges and deteriorating earnings. Australia’s No.2 casino operator has been in the eye of a perfect storm that has hit Australian casino operators for years, with Star and Blackstone-owned...
UK water regulator’s final price decision will come on dec. 19
Date: November 26, 2024
LONDON (Reuters) – Britain’s water regulator will publish its final price determination on Dec. 19, senior director Chris Walters confirmed to a parliamentary committee on Tuesday. The determination sets water prices and investment levels for the next five years, a key measure for the outlook of the country’s utilities, including struggling Thames Water. Ofwat had...
Google, meta urge Australia to delay bill on social media ban for children
Date: November 26, 2024
By Renju Jose SYDNEY (Reuters) – Google and Facebook-owner Meta Platforms urged the Australian government on Tuesday to delay a bill that will ban most forms of social media for children under 16, saying more time was needed to assess its potential impact. Prime Minister Anthony Albanese’s centre-left government wants to pass the bill, which...
Britain’s FCA consults on motor finance complaints extension
Date: November 21, 2024
LONDON (Reuters) – The Financial Conduct Authority is seeking feedback on proposals to give lenders more time to handle complaints on non-discretionary motor finance commissions, after a recent legal ruling widened the number of customers they may need to compensate. The regulator has previously extended the time firmshave to respond to motor finance complaints involving...
Crisis-era regulation has ‘gone too far’, UK’s reeves tells finance sector
Date: November 15, 2024
By Sinead Cruise and David Milliken LONDON (Reuters) -Finance minister Rachel Reeves on Thursday promised a reboot of regulation governing Britain’s “crown jewel” financial industry, which she said has shackled the City’s prospects since the global financial crisis and stifled British economic growth. In a speech at the City of London’s ornate Mansion House, Reeves...