Canada ambassador walks back comments on Huawai executive
Canada’s ambassador to China on Thursday walked back comments that Huawei executive Meng Wanzhou has a ‘strong case’ against extradition to the United States, following a political backlash.Ambassador John McCallum said in a statement that he ‘misspoke’ and ‘regrets that my comments with respect to the legal proceedings of Ms. Meng have created confusion.’Meng was…
Netflix apologizes for use of Quebec rail disaster footage
Netflix has rejected a Quebec government request that it pull footage of a 2013 Canadian rail disaster from its film ‘Bird Box,’ while apologizing for any pain it may have caused.In a letter to Quebec Culture Minister Nathalie Roy, Netflix also promised not to use the Lac Megantic crash footage in future productions.But it said…
Labor warned over dividend reform policy
The Australian Labor Party may be slightly out in front when it comes to the polls, but its fiscal policies are going to get a rigorous public airing. Labor’s negative gearing reforms faced criticism from many sides of the political sphere but did receive some strong backing from other sectors. Next on the list is…
Amazon France under fire for destroying unsold goods
US online retailer Amazon faced new French government pressure Monday after a TV report over the weekend showed it destroying thousands of new diapers, toys and other unsold or returned items in perfect condition.Brune Poirson, a secretary of state for France’s ecological transition, said after the broadcast late Sunday that she was ‘shocked’ by the…
Productivity Commission criticizes banking watchdogs
Australia’s banking and finance watchdogs did not exactly fare well under scrutiny during the Royal Commission inquiry, when they faced questions about why they allowed so much financial misconduct to happen. Now they are under fire once again, this time from the Productivity Commission (PC). The PC is centering its criticism around superannuation funds and…
Changes in Chinese capital development will influence green finance
Although the uptake has been slow from an international perspective, it appears that China’s effort to change the way that it deals with capital concerning green bonds and loans is set to cause a global ripple effect on green finance in general. A relatively radical economic agenda floated toward the end of this year by…
Visa processing put out for private tender
Australia’s visa processing services have been put out to tender to the private sector, including an option to extend the privatisation process to citizenship applications. The Home Affairs Department released the tender document on Friday, calling for a platform to manage visa applications, decision-making workflows and attract potential visitors and migrants. ‘The Australian government will…
India calls for more Australian business investment
Indian President Ram Nath Kovind has said that Australia does not have enough of a presence in India. He is calling for investment so that Australian businesses can become more prominent and contribute more to the second-most-populous country. Offering ‘considerable returns’ for Australia putting capital into the Indian market, Kovind said that more needs done…
US Fed looks to Australia for consistent economic growth
Australia is a shining example of how to build an economy that can withstand volatility in the markets and avoid recessions, and the US Federal Reserve is looking to emulate its example. The US is contending with the idea that it may be able to fend off a recession and believes that the key to…
ANZ profit slips in tough Australian banking climate
Australia’s ANZ announced a slide in full-year profits Wednesday, weighed down by restructuring costs, payouts linked to misconduct charges and ‘strong headwinds’ in the retail banking sector.The Australia and New Zealand Banking Group said its cash profit on an ongoing basis was off 5 percent to Aus$6.49 billion (US$4.6 billion) in the full year to…
