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Dow drops 500 points in a brutal September end for U.S stock market

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The US stock market has ended September on a low, reporting it’s worst month of the year since March 2020

A result of rising rates, inflation fears and concerns about the Chinese property market the S&P 500 finished September down 4.8%.

Others including Nasdaq and Dow dropped 5.3 per cent and 4.3 per cent.

Investment consultants say that higher wages, energy prices and transportation costs will impact earnings for the rest of 2021 and into the next year.

“It’s not really surprising that we’re seeing a weaker September because historically its the worst month on average,” said Jay Pestrichelli, CEO, of investment firm ZEGA Financial.

“Unfortunately, there’s not a lot of information to glean for October from it.”

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Why Amsterdam’s Schiphol Airport will cap passenger departures

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Amsterdam’s Schiphol Airport is capping the number of departures until next year

The airport says airlines “are not happy about it” but ultimately had no choice.

It follows a string of airport chaos over the busy summer period in The Netherlands and Europe more broadly.

Caps are expected to extend through the end of March. But authorities will review the situation again towards the end of this year.

The aviation business continues to be plagued by labor shortages on the back of the pandemic.

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Food delivery drone crashes into powerlines

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Thousands of people have been left without power after a food delivery drone crashed into powerlines

Power was restored after 45 minutes after the drone made a pre-cautionary landing.

‘Wing’ is the company behind the incident who use drones for their food delivery services.

A spokesperson for Energex, the company who supplies power to the 300-affected homes says drones can be dangerous.

It’s believed these instances are very rare and the meal was still hot when emergency crews arrived at the scene.

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Huge win for millions caught up in Optus data breach

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Major news for those impacted by the Optus data incident, with authorities working around the clock to get to the bottom of the saga

Is this a sigh of relief for Optus customers?

It is a major win for those who have been impacted by the massive Optus data breach.

Australian Prime Minister Anthony Albanese has confirmed the telco giant will cover the costs of replacing affected customers’ passports, a move he has labeled as entirely appropriate.

The hacker released the personal details of more than 10,000 people on an online forum, before removing the post.

This is evidently a costly move for Optus, but one which many Australians have been calling for.

On the other side of the coin, it will also be a massive undertaking for the nation’s passport office which has been slammed recently as Aussies head back overseas post-Covid.

This comes as the Australian Federal Police launches an operation to support the data breach victims.

AFP Assistant Commissioner Justine Gough says affected customers will receive “multi-layered protection from identity crime and financial fraud”.

As the investigation continues, Australian authorities will also be leaning on their international counterparts for assistance, including America’s FBI.

It’s a massive operation and one that many Australians and indeed people right around the world are watching closely.

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