Connect with us

Business

The high roller caught in a net over $2 billion tuna scandal

Published

on

The son of Mozambique’s former president is one of 18 individuals appearing in court today over a two billion dollar Tuna scandal

The charges relate to blackmail, embezzlement and money laundering, with the corruption case causing donors to halt funding for the nation and send the economy into a spin.

From 2013 and 2014, three new companies took on over $2 billion of debt, with the government acting as the guarantor of the loans before $500 million went missing.

The money was allegedly used to buy a large tuna factory and a shipping fleet, in which the state was the leading shareholder.

When details of the deal became public and the government admitted the scale of the operation, Mozambique’s economy immediately plunged, triggering a financial crisis.

The country’s currency fell to record lows, inflation skyrocketed and foreign donors pulled their support.

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

Business

‘Sorry’ – Optus hacker releases statement changing demands

Published

on

Australian telecommunications company Optus has been the victim of a hack, with the hacker now backflipping on releasing 10,000 customer records.

The hacker initially demanded one million dollars, or else a tranche of 10,000 records will be released every day over the coming four days.

But within hours the decision was changed.

“Sorry too 10,200 Australian whos data was leaked. Australia will see no gain in fraud, this can be monitored. Maybe for 10,200 Australian but rest of population no. Very sorry to you. Deepest apology to Optus for this. Hope all goes well from this,” the alleged Optus hacker posted to a forum.

The records that have been released so far include names, addresses, email addresses, dates of birth, and gender.

Optus is urging customers to change their passwords and is working with law enforcement to investigate the incident.

A total of 9.8m current and former customers have been impacted by the breach, which the government says is a major corporate failure.

Optus is working with law enforcement and has advised affected customers to change their passwords and online security questions.

This is a developing story and more information will be released as it becomes available.

Continue Reading

Business

Apple’s big shift away from China

Published

on

Apple’s big shift away from China will see the iPhone 14 manufactured in India

APPLE’S BIG SHIFT – In a move that is sure to please Indian officials, Apple has begun manufacturing the iPhone 14 in India.

“The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We’re excited to be manufacturing iPhone 14 in India,” the company said in a statement.

It marks a big shift in Apple’s manufacturing strategy, with most of its products produced in China up until now.

Apple’s decision to move some of its production to India is likely due to the ongoing trade tensions between the U.S. and China.

For years, Apple has relied on Chinese factories to assemble its products. But current tensions have made it difficult for Apple to source parts from the nation.

Experts say India is an attractive option for Apple because it has a large population of potential customers. Their labour laws are also more relaxed than those in China.

In saying this, wage growth in India is outpacing that of China. This could eat into Apple’s profits.

India is the world’s second-largest smartphone market and Apple currently has just a 3.8 per cent market share. Low cost competitors including Samsung and Xiaomi are continuing to reign supreme.

In research by JPMorgan, experts suggest Apple to move 5 per cent of its iPhone 14 production from late 2022 to India. From 2025, the tech company is expected to produce one in four of its devices, including iPads and watches, outside China.

Continue Reading

Business

The best airlines to fly ECONOMY in 2023

Published

on

There’s always so much attention on the pointy end of the plane – business and first class. But for most, the decision of which airline to fly comes down to the most comfortable economy seat.

Here are our picks for the best airlines to fly economy in.

1. JetBlue


JetBlue is an American low-cost carrier that is headquartered in New York City. The airline was founded in 1999 and operates over 1,000 flights per day to more than 100 destinations in the United States, Caribbean, and Latin America. JetBlue is known for its low fares, friendly service, and comfortable seats.

The airline plans to increase its focus on domestic operations in 2019 with the launch of a new loyalty program and the addition of new routes from New York City and Boston.

2. Southwest Airlines


Southwest Airlines is an American low-cost carrier that is headquartered in Dallas, Texas. The airline was founded in 1971 and operates over 4,000 flights per day to more than 100 destinations in the United States and 10 other countries. Southwest is known for its low fares, friendly service, and frequent flyer program.

As of 2018, JetBlue serves 101 cities in the U.S., Mexico, the Caribbean, Central America, and South America. The airline plans to increase its focus on domestic operations in 2019 with the launch of a new loyalty program and the addition of new routes from New York City and Boston.

3. Spirit Airlines


Spirit Airlines is an American low-cost carrier that is headquartered in Miramar, Florida. The airline was founded in 1980 and operates over 600 flights per day to more than 60 destinations in the United States, Caribbean, and Latin America. Spirit is known for its ultra-low fares, fee-based services, and often controversial marketing campaigns.

In recent years, the airline has also made a push to appeal to more business travelers, with an expanded network of flights to major cities. As it looks to the future, Spirit is hoping to continue to grow its market share and become a major player in the airline industry.

4. Allegiant Air


Allegiant Air is an American low-cost carrier that is headquartered in Las Vegas, Nevada. The airline was founded in 1997 and operates over 400 flights per day to more than 120 destinations in the United States. Allegiant is known for its low fares, focus on leisure travel, and unique business model.

In addition to its scheduled services, Allegiant Air also offers charter flights and vacation packages. The airline is known for its low fares and friendly customer service.

5. Frontier Airlines


Frontier Airlines is an American low-cost carrier that is headquartered in Denver, Colorado. The airline was founded in 1994 and operates over 1,000 flights per day to more than 90 destinations in the United States, Mexico, and Costa Rica. Frontier is known for its low fares, “unbundled” pricing structure, and animal mascot

In addition to its domestic operations, Frontier also offers flights to Mexico, Costa Rica, and Jamaica. With its growing fleet of Boeing and Airbus aircraft, Frontier is well-positioned to continue its expansion in the years ahead.

Continue Reading

Trending Now

Copyright © 2022 The Ticker Company PTY LTD