Money

Musk’s Starlink project hits major milestone

Published

4 years ago

August 24, 2021

ticker NEWS

Elon Musk’s Starlink project has hit a major milestone, shipping 100 thousand high-speed internet terminals to their customers

The Starlink project, which aims to provide global broadband connectivity via an array of satellites, launched in 2019.

Since then, SpaceX has launched more than 1,700 satellites and has received over half a million extra orders.

100k terminals shipped!https://t.co/Q1VvqVmJ2i
— Elon Musk (@elonmusk) August 23, 2021

Each Starlink Kit comes with a Starlink terminal, Wi-Fi router, power supply, cables, and mounting tripod

Under the project, beta services are currently operating in 11 different countries.

SpaceX confirmed that as part of the beta services, users can expect to see data speeds vary from 50Mbps to 150Mbps and latency from 20ms to 40ms in “most locations over the next several months”

The company promised the Starlink system continues to be enhanced

So if you’re thinking of jumping on the trend… you’ll need to fork out some cash from your savings with the service costing an upfront fee of $499 dollars.

Money

France receives lowest credit rating due to crisis

France’s credit rating downgraded to record low amid political and fiscal crisis, raising concerns over debt and stability

Published

9 hours ago

September 13, 2025

Ahron Young

France’s credit rating downgraded to record low amid political and fiscal crisis, raising concerns over debt and stability

In Short:
– Fitch Ratings downgraded France’s credit rating to A+, citing political instability and fiscal challenges.
– New Prime Minister Lecornu must secure budget approval amidst rising deficit and potential no-confidence vote.

Fitch Ratings has downgraded France’s credit rating from AA- to A+, the lowest ever recorded, amid ongoing political and fiscal challenges.

The decision comes shortly after Prime Minister François Bayrou was removed in a vote of no confidence regarding his €44 billion austerity plan.

President Emmanuel Macron has appointed Sébastien Lecornu as the new prime minister, marking the fifth leadership change in under two years.

Fitch highlighted political instability as a key factor undermining fiscal reforms, with France’s debt now at €3.3 trillion, or 113.9% of GDP.

The budget deficit increased to 5.8% of GDP and is expected to rise, posing challenges ahead.

Political Instability

The new prime minister faces a divided parliament and must secure budget approval by October 7.

The far-left plans a no-confidence vote against Lecornu, complicating further cooperation on legislative reforms, with S&P Global hinting at a potential downgrade.

Money

Trump moves to fast-track removal of Fed governor Lisa Cook

Published

1 day ago

September 12, 2025

ticker NEWS

The White House is set to fast-track a ruling on firing Federal Reserve Governor Lisa Cook, just days before the crucial FOMC meeting.

The move comes as markets reel from surging inflation, weak jobless data, and global currency shifts, raising questions about the Fed’s independence and the stability of policy decisions.

Money

ANZ job cuts spark banking clash

ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.

Published

3 days ago

September 10, 2025

ticker NEWS

ANZ plans to cut 3,500 jobs, sparking debate on the future of Australia’s banking sector and employment dynamics.

ANZ has announced plans to cut 3,500 staff and 1,000 contractors over the next year, triggering a fierce debate between business leaders, unions, and government about the future of Australia’s banking sector.

The decision raises wider questions about the resilience of the business community and the role of politics, productivity, and technology in shaping employment.

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