Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

News

Auschwitz museum slams X over holocaust-denying posts

Published

on

X, formerly known as Twitter, has taken down a Holocaust-denying post after facing criticism from the Auschwitz Museum. Initially, the social media platform had deemed the post as not violating its rules.

The offensive post was in response to a tweet from the museum, where they shared the story of a three-year-old Jewish girl who tragically lost her life in the gas chambers of the Auschwitz concentration camp. The reply to the museum’s tweet referred to her death as a “fairy tale” and employed anti-Semitic stereotypes.

X’s policies explicitly state that Holocaust denial is strictly prohibited.

Horrific site

Auschwitz, located in Poland, witnessed the horrific murder of at least 1.1 million people, with almost one million of them being Jewish. Among the victims, over 200,000 were children and young individuals who faced brutal fates, including gas chambers, starvation, forced labor, and medical experiments.

According to a statement posted on X by the Memorial and Museum Auschwitz-Birkenau, the museum had reported the offensive reply. However, they received an initial response from the platform, stating that, based on the “available information,” no rules had been violated.

X later clarified that this initial response was due to an error during the first review, and the post was eventually removed after a second review.

X policies

X’s policies categorically prohibit “violent event denial” under its guidelines on abusive behavior. The platform explicitly states that it does not permit content that denies mass killings, including events such as the Holocaust, school shootings, terrorist attacks, and natural disasters.

The X account responsible for the offensive post had only 20 followers. Although X has removed the specific post, the account remained accessible as of Monday at 17:00 GMT. The account contains other content that many would find offensive. The company is currently reviewing whether the account should face permanent suspension.

Elon Musk, who describes himself as a proponent of free speech, denies that there has been an increase in hate speech on the platform since he assumed control of X (formerly Twitter). In December, he claimed that hate speech had decreased by a third.

X acknowledges that its team responsible for monitoring hate speech on the platform is smaller since Musk’s takeover. However, it argues that its new approach, emphasizing a zero-tolerance policy for illegal content and de-amplifying and removing ads from lawful but offensive material, is more effective.

Musk’s takeover

Despite this, some argue that improvements are not evident. An Institute for Strategic Dialogue report suggested a significant and sustained increase in anti-Semitic posts on Twitter since Musk’s takeover in October.

The Centre for Countering Digital Hate (CCDH) has also claimed that Twitter “fails to act on 99%” of hateful messages from accounts with Twitter Blue, the platform’s subscription service. According to CCDH, posts containing racist, homophobic, neo-Nazi, anti-Semitic, or conspiracy content remained visible for days even after being reported.

Continue Reading

News

Dollar steady as markets await Fed’s rate decision

Dollar steady ahead of Fed’s expected rate cut decision on Wednesday

Published

on

Dollar steady ahead of Fed’s expected rate cut decision on Wednesday

video
play-sharp-fill
In Short:
– The U.S. dollar stayed stable as investors await the Federal Reserve’s interest rate cut announcement.
– Asian equities rose, with the MSCI Asia Pacific Index hitting a record high amid U.S. market gains.
The U.S. dollar remained stable on Monday as investors await the Federal Reserve’s upcoming policy meeting, where the central bank is expected to announce its first interest rate cut in nine months.
Trading volumes were low due to a holiday in Japan, causing currencies to remain rangebound.Banner

Market participants have largely priced in a 25 basis point reduction in the federal funds rate, anticipated to bring the key rate to between 4.00%-4.25%.

This marks the first easing action since December 2024.

Recent economic data indicates a cooling labour market, with jobless claims rising to the highest levels since 2021, overshadowing inflation concerns.

Market Movements

Asian equities experienced gains, continuing a global rally, with the MSCI Asia Pacific Index reaching a record high.

Chinese shares rose close to 1% despite disappointing factory and retail sales data.

This momentum follows historical closes in U.S. markets, with the Dow Jones Industrial Average surpassing 46,000.


Download the Ticker app

Continue Reading

News

ANZ to pay $160 million for bond deal violations

ANZ to pay A$240 million for bond misconduct and customer violations amidst job cuts and regulatory scrutiny

Published

on

ANZ to pay A$240 million for bond misconduct and customer violations amidst job cuts and regulatory scrutiny

video
play-sharp-fill
In Short:
– ANZ Group will pay A$240 million in penalties for multiple violations, including fees to deceased customers.
– The bank plans to implement A$150 million in reforms and has announced 3,500 job cuts.
Australia’s ANZ Group will pay A$240 million in penalties, the largest ever imposed by the Australian Securities and Investments Commission (ASIC) against a single entity.
The penalties arise from multiple violations, including acting “unconscionably” during a government bond deal and continuing to charge fees to deceased customers.
The development comes alongside ANZ’s announcement of 3,500 job cuts as new CEO Nuno Matos seeks to enhance profitability.Banner

ANZ has admitted to the allegations and acknowledged the need for significant operational changes.

The bank’s trading practices during an A$14 billion government bond issuance negatively impacted bond prices, which led to a substantial loss for the government.

ANZ plans to submit a remediation strategy to the Australian Prudential Regulation Authority by the end of the month.

Company Changes

ANZ has stated it will spend A$150 million on reforms by the end of the financial year.

The Finance Sector Union is expected to file a claim regarding the recent job cuts made by the bank.


Download the Ticker app

Continue Reading

News

Climate report warns of rising heat deaths and property losses

Australia faces dire climate predictions, with potential for massive property value losses and thousands of heat-related deaths without action

Published

on

Australia faces dire climate predictions, with potential for massive property value losses and thousands of heat-related deaths without action

video
play-sharp-fill
In Short:
– Climate change could cause hundreds of deaths and $500 billion decline in property values in Australia.
– Increased extreme weather events may lead to rising insurance costs and potential uninsurability of homes.
A government report warns that climate change could lead to significant challenges for Australia, with hundreds of deaths expected from heat-related illnesses.
Property values may decline by up to $500 billion as homes risk becoming uninsurable due to extreme weather events.
The assessment by the Albanese Government forecasts increased frequency of floods, cyclones, and bushfires.The report anticipates over a thousand potential heat-related fatalities in Sydney and Melbourne if action is not taken.

The projected increase in heat-related deaths in Australia’s capital cities, as outlined in the report. Picture: Climate Risk Assessment

Rising sea levels and extreme weather are expected to escalate insurance costs, making coverage unaffordable or unavailable.

Climate Change and Energy Minister Chris Bowen acknowledged that many Australians will find these projections distressing, but they underscore the urgency of addressing climate change.

Banner

Changes in total annual freight costs by Local Government Area in a 2090 scenario, compared to 2024. Picture: Australia’s National Climate Risk Assessment

Property Risks

Projected increases in heat-related deaths are particularly concerning. For instance, at a 1.5-degree rise in temperatures, heat-related mortality in Sydney could increase by 103%, reaching about 450 deaths annually at a 3-degree rise.

Coastal flooding days are expected to increase significantly in major urban areas, necessitating critical intervention.


Download the Ticker app

Continue Reading

Trending Now