Money

Big tech is cashing in on the banking sector

Published

3 years ago

June 15, 2023

Australians have been granted access to a digital platform, which will facilitate the reporting of fraudulent payments en route or transferred to another bank.

The Fraud Reporting Exchange offers more targeted communication to help banks stop and recover as much money as possible when customers have paid scammers. 

Seventeen banks have joined the platform, which is operated by the Australian Financial Crimes Exchange.

The Commonwealth Bank recently found 64 per cent of Australians believe they receive more scam attempts today than 12 months ago.

The same survey found Australians reported receiving, on average, five scam calls, emails or messages a week, equating to over 250 attempts a year.

Ms Bligh is the CEO at the Australian Banking Association, who said it is imperative that consumers report a fraudulent or scam payment to their bank as soon as possible.

“The sooner that banks know about a fraud, the sooner they can take swift action to try to halt the payment before it gets to the scammers.” 

It comes as global tech platforms seek to unlock a new era of smart payments, where users can bank using apps or cards connected to their phones.

“Whether it’s your Apple phone or smartwatch, the number of transactions has increased by 8,000 per cent in the last three-and-a-half years,” Ms Bligh said.

“Banks actually have contracts with Apple that facilitate that. But certainly banks would say very loudly and clearly, and I think customers should too, if Apple had a deposit product in Australia that should be subject to all of the protections that a customer would get if they deposited with a bank,” she said.

Money

Australia’s inflation report and Nvidia earnings impact explained

Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.

Published

5 days ago

February 26, 2026

Harvey Vargas

Australia’s inflation report sparks market shifts, influencing interest rates, the Aussie dollar, and investor sentiment amid Nvidia’s earnings.

Australia’s latest inflation report is creating waves across the market, with questions about interest rates, the strong performance of the Aussie dollar, and the uneven nature of the stock market rally. Investors are watching closely as changes in carry trade risks this month add another layer of complexity.

David Scutt from StoneX discusses what these shifts mean for trading strategies and the broader economic outlook. He provides insight into how underlying factors are shaping investor confidence and market dynamics.

On the tech side, Nvidia’s upcoming earnings are expected to influence AI development and the broader tech sector. Coupled with trends in SaaS and bitcoin price action, these movements are signalling how investor sentiment is evolving in a fast-changing landscape.

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#AustraliaEconomy #InflationReport #AussieDollar #NvidiaEarnings #AIInvesting #StockMarketNews #BitcoinTrends #SaaSInsights

Money

U.S. stocks rally as AMD, Home Depot, and AI software lead gains

U.S. equities rose as AI disruption fears eased, with Home Depot, AMD, and DocuSign driving tech stock gains.

Published

6 days ago

February 25, 2026

Harvey Vargas

U.S. equities rose as AI disruption fears eased, with Home Depot, AMD, and DocuSign driving tech stock gains.

U.S. tech stocks surged as investors’ fears over AI disruption eased. Advanced Micro Devices jumped 9% after Meta announced a multiyear deal to deploy AMD’s graphics processing units for AI data centres. The move highlights growing corporate confidence in AI infrastructure investments.

DocuSign also rose 3% following Anthropic’s confirmation that Claude Cowork can integrate with DocuSign, Google Drive, and Gmail, signalling stronger adoption of AI tools across industries.

The iShares Expanded Tech-Software Sector ETF climbed 2% despite remaining over 30% below its 52-week high, showing tech stocks are recovering but still have room to run.

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Money

Stocks tumble amid AI concerns and Trump tariff update

Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.

Published

1 week ago

February 24, 2026

Harvey Vargas

Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.

Stocks plunged sharply as concerns over artificial intelligence and trade tensions rattled investors, sending the Dow down more than 800 points. Heavyweights like American Express, Goldman Sachs, and JPMorgan were key contributors to the drop.

Software companies were hit particularly hard after a report suggested AI could impact economic growth, triggering further losses across tech shares.

Trade-sensitive retailers including American Eagle Outfitters, Ralph Lauren, and Yeti Holdings also faced setbacks as market uncertainty spiked. Bonds, meanwhile, rallied as investors sought safety in a volatile market.

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