Money
EU plans to force USB-C chargers for all phones
EU plans to make USB-C connectors the standard port for all smartphones and tablets, angering Apple
The European Commission rules to force manufacturers to create a universal charging solution for phones and small electronic devices. The European Commission is aiming to have a common charging port for all mobile phones, tablets, cameras, headphones, and handheld videogame consoles.
The ruling has been in the making for a decade, with environmental concerns the main driving force behind the historic move.
Reducing waste
The rule will reduce waste by encouraging consumers to re-use existing chargers when buying a new device. Politicians have been pushing for this uni9versal charging rule for over a decade.
Disposed and unused charging cables generate approximately 11,000 tonnes of waste per year. Research shows the average person owns around three mobile phone chargers.
A decade ago there were about 30 different types of chargers, now, phones use either USB-C, lightning, and USB micro-B.
Rotten Apple
The move would see all smartphones in the EU sold with the same charger, a motion Apple is not happy about. The tech giant says this move would damage ongoing innovation.
The tech giant is the main manufacturer of smartphones using a custom charging port, as its iPhone series uses an Apple-made “Lightning” connector. Apple argues its Lightning connector is used by one billion active iPhone users.
“We remain concerned that strict regulation mandating just one type of connector stifles innovation rather than encouraging it, which in turn will harm consumers in Europe and around the world,”
Apple spokesperson
The proposed changes would apply to the charging port on the device body and will also standardise charging speeds. It may be a number of years before the proposals come into effect.
It will be thoroughly debated by the European Parliament and national Governments.
Money
Australian Dollar surges: What $0.70 means for markets
Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.
Australian dollar surges 5% to $0.70, impacting importers, exporters, and big miners amid rising interest rates.
The Australian dollar has jumped more than 5 percent against the U.S. dollar this year, now trading around $0.70. This rapid rise has sparked mixed reactions for importers and exporters as Australia’s materials sector shows signs of bouncing back, despite concerns over rising interest rates.
Dale Gilham from Wealth Within breaks down the factors behind the AUD surge, the implications for commodities, and what it means for big miners like BHP. From profits to strategy, we explore how the market is reacting to this currency shift.
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#AustralianDollar #AUD #Forex #Investing #Commodities #BHP #Mining #Markets
Money
S&P 500 rises as financial stocks lead and tech slips
S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!
S&P 500 rises 0.4% thanks to financial stocks; software struggles amidst AI concerns. Subscribe for updates!
The S&P 500 climbed 0.4% on Tuesday, boosted by strong gains in financial stocks. Citigroup and JPMorgan led the rally, showing investors are rotating money into the sector as tech stocks faltered.
Meanwhile, software shares struggled, with ServiceNow, Autodesk, and Palo Alto Networks all seeing notable declines. Concerns around AI disruption continue to affect the software and financial sectors alike.
Market watchers are now turning their attention to upcoming inflation reports later this week, looking for signals that could shape the next moves in the market.
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Money
Australia’s GST debate heats up amid tax reform push
Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.
Australia debates GST expansion amid aging population pressures and personal income tax concerns; expert insights from Dr. Steven Enticott.
Australia is facing a fierce debate over tax reform, with fresh calls to broaden the Goods and Services Tax as the government searches for more stable revenue streams. With an ageing population putting pressure on health, pensions and long-term spending, economists argue the current reliance on personal income tax may not be sustainable.
Dr Steven Enticott from CIA Tax joins Ticker to break down the real impact of expanding the GST, including how it could affect lower-income households, whether taxing unrealised gains would change investor behaviour, and what compensation mechanisms could soften the blow on essential goods. The political risks are high, but so are the fiscal stakes.
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