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Who will get the $25 million refund from Telstra?

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Australia’s largest telco Telstra will refund a huge $25 million dollars to its customers

Regulators have ordered Telstra to refund almost 50-thousand customers over failed internet speeds.

An ACMA investigation found between September 2018 and October 2020 the telco failed to suitably notify customers of issues. These issues included under-performing internet speeds and plan options.

Under ACMA rules, telecommunication companies must verify maximum internet speeds. They also must notify customers when speeds cannot meet those advertised in their plan.

In those circumstances, customers are entitled to move to a lower speed tier plan at a cheaper price or exit the contract without cost.

“The ACMA is very concerned with this conduct as these customers have been paying for a level of service they were not receiving,”

ACMA chair Nerida O’Loughlin said in a statement

The ACMA expects Telstra to dish out around $25 million in refunds. However, that figure includes other cases not included in the watchdog investigation.

“Telstra denied these customers the opportunity to downgrade their plan or exit their contract.”

Telstra must also implement a range of processes and reporting to assure future compliance with ACMA rules. The Aussie telco faces additional penalties of up to $10 million if it doesn’t comply with the direction.

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Money

Boeing face delivery delays following guilty criminal charge plea

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Boeing’s deliveries are down after months of controversy, is it because they can’t make the planes, or because airlines right now don’t want them?

Boeing has agreed to plead guilty to a charge of conspiracy to defraud the United States in connection with the investigation into two fatal crashes involving its 737 MAX aircraft.

Boeing reported a significant 27% decrease in deliveries for June compared to the same month last year, possibly attributing the decrease to the companies ongoing controversies.

Aviation expert Geoffrey Thomas joins to discuss. #featured

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Money

Blockchain sparks a transformative influence in Australia

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Professor unveils blockchain’s role in transforming the economy and innovative projects taking place at RMIT University.

Crypto Corner explores the latest market movements, expert insights and the influence of macroeconomic factors on the crypto industry.

Crypto Corner is hosted by Caroline Bowler, CEO of BTC Markets.

In this episode, BTC Markets CEO Caroline Bowler interviews Professor Chris Berg, Director of RMIT Digital3 and Co-Founder of the Blockchain Innovation Hub at RMIT University. They discuss RMIT’s cutting-edge projects and the transformative impact of blockchain technology in Australia.

Professor Berg shares insights into RMIT’s Digital3 philosophy, which combines research, innovation, and collaboration to drive the digital economy. Learn about groundbreaking initiatives in blockchain, cyber security, and AI, and how these disruptive technologies are reshaping business, government, and society.

Discover how RMIT is leading the charge in rethinking and regenerating the way we work through world-class research and tailored education, offering a glimpse into the future of technology and its potential to benefit both the economy and society. #crypto corner

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From $25K to $1.5M in real estate: expert unveils game-changing strategy for investors

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Empower your property investing with these key tips

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Dean Fraser, Founder and CEO of BrickFloor. #trending #wyld money

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