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“You won’t need a bank account”. Musk’s plans for X

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Tech mogul Elon Musk has granted a group of X employees one year to transform their existing app into a full-fledged finance platform.

Musk’s vision is bold: he aims to create a financial ecosystem so comprehensive that individuals won’t need traditional bank accounts.

The employees, handpicked by Musk, will work relentlessly to expand the app’s capabilities. Musk believes that with their expertise and innovation, they can provide services ranging from payments and savings to lending and investing, all within the confines of a single app.

Musk’s decision has sparked curiosity and excitement in the tech world. Can this team of talented individuals achieve what traditional banks have offered for centuries, and can they do it in just one year? The clock is ticking, and the financial industry is watching closely.

This audacious endeavor raises several questions: What will this new finance platform offer that traditional banks cannot? How will it address security and regulatory concerns? Can it truly replace the need for a conventional bank account? Will other tech giants follow suit in disrupting the financial industry? And finally, what impact will this have on the future of finance and banking?

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RBA unexpectedly keeps interest rates steady at 3.85%

RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

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RBA surprises with decision to maintain interest rates at 3.85%, impacting economic forecasts and housing market activity.

In Short:
The Reserve Bank of Australia has kept its cash rate at 3.85% despite concerns from the Housing Industry Association about its impact on new home construction. Although inflation is within target and there’s some market confidence, households are under financial strain amidst economic uncertainties.

The Reserve Bank of Australia has decided to maintain the cash rate at 3.85% following a split vote of six to three. This unexpected decision comes as the Housing Industry Association warns that these rates remain restrictive, potentially hindering new home building.

Senior economist Tom Devitt stated that the rates will delay necessary building activity but noted improved market confidence following previous rate cuts.

Current inflation data shows the RBA’s preferred measure has been declining and remains within the target range. However, household spending is under strain, with Australia experiencing a per capita recession since mid-2022.

Labour costs

The RBA’s decision was influenced by concerns over productivity growth and high unit labour costs, affecting its inflation outlook. While some economists anticipated a rate cut, the RBA opted for caution due to economic uncertainties, both domestically and internationally.

The bank acknowledged gradual recovery in private demand and household incomes but highlighted ongoing challenges in passing cost increases to final prices.

Despite the hold on rates, price rises in essentials like petrol continue to impact Australian households. The RBA emphasized the need for ongoing assessment before making future rate changes, suggesting a careful approach in response to evolving economic conditions.

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Feeling the stress this tax season?

Join Dr. Steve Enticott for essential tax tips to avoid costly mistakes this season and maximize deductions for 2025.

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Join Dr. Steve Enticott for essential tax tips to avoid costly mistakes this season and maximise deductions for 2025.


It’s that time of year again, and if you’re feeling overwhelmed, you’re not alone.

With so many moving parts, from missed deductions to misplaced receipts, small mistakes can lead to big losses.

Dr Steve Enticott from CIA Tax joins to break down what people forget most, which new deductions to know for 2025, and why a simple checklist can save you money.

#TaxTime #MoneyTips #2025Tax #TaxReturn #TickerNews

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Trump’s ‘big beautiful bill’ passes Senate

Trump’s tax and spending bill passes Senate 51-50; faces House vote amid concerns over inequality and support cuts.

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Trump’s tax and spending bill passes Senate 51-50; faces House vote amid concerns over inequality and support cuts.


President Trump’s sweeping tax and spending bill has narrowly passed the U.S. Senate 51-50, with Vice-President JD Vance breaking the tie.

The bill promises big tax breaks, military boosts, and immigration crackdowns, while slashing support for Medicaid and low-income aid, a move critics say risks deepening inequality.

All eyes now turn to the House vote, where Trump’s political clout will face a fresh test.

#Trump #BigBeautifulBill #USPolitics #TickerNews

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