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Major banks, airlines, hit with global tech-provider outage

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Multiple organisations, such as banks and airlines were hit with a global cloud platform outage on Thursday, due to a US-based tech provider Akamai being down.

The ANZ, Bank of Melbourne, Westpac and Commonwealth Bank, and Bank West had all reported system issues with their mobile banking apps.

Users had been served with error messages while attempting to log in.

Commonwealth Bank earlier advised its customers they are investigating, so did other major banks.

Airlines offline

There had also been reports that several other websites, including Virgin Australia, Southwest Airlines, United Airlines, American Air and Delta Airlines have gone offline.

Allianz Insurance and CMC Markets are affected. ME Bank also reported “server issues”.

Australian website tracker DownDetector displayed an upsurge in access complaints across several major websites around 2:10pm

Ticker News can confirm Telstra and NAB have not been impacted by this outage, despite reports from Down Detector.

The issue was believed to be linked to problems occurring with CDN provider Akamai.

Sites are now coming back online.

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Money

Why the meme-stock frenzy is unlikely to repeat

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Money

Why are airlines after the Biden Administration?

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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Money

The mounting pressure on Government spends

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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