NAB was forced to repay $117 million in fees to superannuation fund members for services that were never provided. Now it fined $57.5m in ‘fees for no service’ case. According to Federal Court, NAB had charged hundreds of thousands of super members fees between 2012 and 2018 for financial services that were not provided. This…
ByteDance, the owner of famous TikTok’s, has chosen Oracle over Microsoft as a new technology partner to keep the popular video-sharing app operating in the United States. TikTok says it has 100 million U.S. users and hundreds of millions globally. It enables people to make a living from posting videos on the service and hosts…
Boris Johnson, Prime Minister, is facing growing opposition to his plan to unilaterally rewrite Britain’s divorce deal with the European Union. As part of the Brexit divorce deal, Britain and the EU agreed to keep Northern Ireland — the only part of the U.K. to share a border with the bloc — bound to some…
China’s central bank continued to pump cash into the banking system via reverse repos to maintain liquidity. According to the Central Bank, it was necessary to maintain reasonable liquidity in the banking system. The People’s Bank of China injected 100 billion yuan (about 14.51 billion U.S. dollars) into the market through seven-day reverse repos at…
