It is true that cryptocurrencies, Web3, and blockchain have developed into an interesting, exciting, and rapidly moving subsect of a modern finance industry, but gender bias remains in its historical forms. While cryptocurrency first stepped onto the financial scene over a decade ago, the mainstream popularity of digital currency has only gained real traction over the past few years. As the sector has gained momentum, a range of people interested in investing or working with crypto have been drawn to the industry, however it remains primarily dominated by men. Both data and anecdotal evidence show that women have still been underrepresented in finance and technology. This has translated to a lower participation rate in cryptocurrency and blockchain. In January 2024, Google Analytics data gathered by Coin. Dance found that the Bitcoin community, the first decentralized cryptocurrency, was 85.77% men and just 14.23% women. Similarly, the Web3 Compensation Report for last year found that women in the sector earned 46% less than men on average. Kath Denton, Head of Custody at CoinCover, believes that crypto has “still a long, long way to go until true [gender] equality is achieved”. “Only a quarter of the workforc
From supplying dresses to its department stores as a teenager to becoming the largest shareholder of the company almost 60 years later, Solomon Lew’s relationship with Australian retailing icon Myer has swung back and forth over the decades. In between, the veteran of Australia’s retailing industry has gone from chairing board meetings to being ejected as a director and sniping from the sidelines as a disaffected shareholder calling for better performance from the 124-year-old chain. On 23 January Lew, 77, is set to return to the seat of power if shareholders approve a $1.1 billion deal under which his 40%-owned investment company Premier Investments sells apparel brands to Myer Holdings in return for 51.5% shareholding. These new shares, and Premier’s existing 26% Myer stake, will be distributed to Premier shareholders including Lew’s Century Plaza Group, making him the largest direct shareholder with a 26.8% stake and also a seat on the Myer Board. “The combination of the Apparel Brands business with Myer is an opportunity for us all to play an important role in the future of the Australian and New Zealand retail landscape,” Lew told the Premier Investments annual meeting in December. “The combination of Myer
Commonwealth Bank of Australia (CBA) has urged the Reserve Bank of Australia (RBA) to ban surcharges on credit and debit cards as the central bank considers the future of Australia’s A$1 trillion-plus payments system. CBA said it had noted in recent years a shift to contactless payments and e-commerce and an increase in payments solutions that sit outside the RBA’s bank’s mandate and regulation, including buy now, pay later, digital wallets and three party schemes. In a response to an RBA issues paper, Australia’s largest bank said it supported the spirit of the review because payments affected all consumers and businesses and the safety, reliability, efficiency and convenience of the system was paramount. CBA asked the central bank not to formulate policy responses to some of the matters raised in its issues paper, which would be possible only when the Payment System Regulation Act (PSRA) was amended. The remaining issues for consultation could be addressed without changes to the PSRA, including surcharging, which is the imposition of an additional fee by a merchant or institutions for card payments. “We believe the most impactful initiative would be to address surcharging on debit and credit,” the CBA said in its
Investment firm CC Capital Partners LLC has thrown down the gauntlet to its larger rival bidder Bain Capital by raising its takeover offer for Insignia Financial. Insignia said it had received a revised non-binding and indicative offer from CC Capital of A$4.60 cash per share, which values the company at $3.1 billion, up from the $4.30 cash per share offered by both bidders previously. The company said in an ASX announcement the offer was subject to the same terms and conditions as the initial proposal, advising shareholders to take no action as the Board and its advisers decided whether to engage with CC Capital. The company repeated its previous statement that there was no certainty the proposal would result in a binding offer or a transaction. In the space of about one month, the 178-year-old financial services group has received two non-binding and conditional bids each from Bain and CC Capital amid speculation that asset management giant Brookfield might enter the fray as a third bidder. Bain included in its proposal the potential for shareholders who accepted the offer to receive shares in the ultimate holding company if the buyout proceeds. The top seven shareholders owned more than 58% of the target in Au
Outgoing President Joe Biden has delivered his final interview of his term, sitting down in the Oval Office with MSNBC‘s Lawrence O’Donnell. Biden reflected on his accomplishments during his time in office, including this week’s Gaza ceasefire deal. He also acknowledged his political failings in light of low approval ratings as he leaves the top job on Monday. “Ironically, I almost spent too much time on the policy and not enough time on the politics”, the 82-year-old said. Expressing regrets about not putting his name on COVID stimulus checks that were issued in the early months of his term, while Donald Trump did, Biden said that while it did cross his mind he was “not a very good huckster." “It helped him [Trump] a lot…and it undermined our ability to convince people that we were the ones that were getting this to them,' Biden added. Earlier in the week Biden also warned of an “oligarchy is taking shape in America,” during his farewell speech and reiterated his concern for “how fragile democracy is.” Speaking to O’Donnell he elaborated, saying he was concerned Americans would be left without a champion fighting for them. “Look if the decision is made that the multibillionaires, the super, supe
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Mining heavyweights Rio Tinto (ASX : RIO) and Glencore are in early-stage discussions about a potential merger, Bloomberg has reported, citing anonymous sources close to the matter. A merger between Rio, the world’s second-largest miner and the Swiss miner would create an entity worth about US$155 billion (A$250 billion), making it the world’s number one miner – overtaking BHP (ASX: BHP), which is worth around US$126 billion. If a merger goes ahead, it may raise a few eyebrows, as Glencore is the largest seller of thermal and the top producer of coking coal in the world. Yet Rio had divested all of its coal assets - exiting in 2018 with the US$2.25 billion sale of Kestrel and marketing its pivot with a US$1bn spend towards a goal of reaching net-zero emissions by 2050. The combined entity would give it exposure to copper that would rival BHP's own vast red metals assets. The Big Aussie had just yesterday finalised a US$2.1 billion acquisition of South American copper projects. BHP also wants to invest up to US$14 billion in Chile - the number 1 copper-producing country in the world - which could increase BHP's total global copper output to 540,000tpa. Recent history suggests the two majors are willing to do big d
One of Australia’s largest telecommunications companies Aussie Broadband has announced that co-founder and Group Managing Director Phillip Britt will step down. Aussie Broadband said Britt would retire as Group Managing Director on 28 February 2025 to become Non-executive Director and Special Technical Adviser to pursue a personal community-focused venture in the Gippsland region where he still lives. Chief Executive Officer Brian Maher, who joined Aussie Broadband in 2019 as Chief Financial Officer and Company Secretary, will be appointed as Group Chief Executive Officer from 1 March 2025. Chair Adrian Fitzpatrick said Britt had been responsible for the rapid growth of Aussie Broadband over the last 20 years from a regional internet service provider to a national telecommunications company with a diversified product and customer base. This included the formation of Wideband Networks in 2003, the merger in 2008 with Westvic Broadband to form Aussie Broadband, the public listing on the ASX in 2020 and the acquisitions of Over the Wire and Symbio in 2022 and 2024. “He has a proven track record of delivering innovative solutions in the telecommunications industry,” Fitzpatrick said in an ASX announcement.
Actor Justin Baldoni is suing fellow actor Blake Lively and her publicist for US$400 million (A$643.99 million), claiming that Lively and her husband actor Ryan Reynolds hijacked the production of It Ends With Us and sought to “destroy him” with false sexual harassment allegations. The 179-page complaint filed in the United States southern district of New York is the latest swing in a bitter legal battle between the two co-stars. Baldoni directed and starred alongside Lively in the Colleen Hoover adaptation with the California Civil Rights commissions detailing sexual harassment by Baldoni during production and a smear campaign to ruin Livley’s reputation through artificial social media activity and planned stories. In a statement, Baldoni’s attorney, Bryan Freedman said Lively attempted to “destroy” Baldoni. "It is clear based on our own all out willingness to provide all complete text messages, emails, video footage and other documentary evidence that was shared between the parties in real time, that this is a battle she will not win and will certainly regret,” he said. “Blake Lively was either severely misled by her team or intentionally and knowingly misrepresented the truth." Freedman also said he and Ba
The World Bank has warned the global economy is set to grow at its slowest pace in almost six years. According to a recent report from the World Bank, this has been the slowest half-decade of Gross Domestic Product (GDP) growth in 30 years. A growth rate of 2.7% is predicted which would be the lowest in the years directly before and after the height of COVID-19. The BBC reported that the bank's deputy chief economist Ayhan Kose has warned the impending trade tariffs that President-elect Donald Trump intends to place on imports into the U.S. could have significant impacts on the global economy. As the U.S. is the world's largest importer of goods, the potential for higher taxes puts immense financial pressure on global trade. Trump has plans to impose 10-15% duties on all U.S. imports, targeting neighbouring countries Canada and Mexico, along with 60% on all goods from China, all countries which account for 40% of the US$3.2 trillion (A$5.1 trillion) of goods it imports each year. Other fears include the potential for interest rates to remain higher for longer along with policy uncertainty which could leave businesses lacking confidence and reduce investment. “Investment booms have the pote
