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Technology

An Abridged History of Foldable and Flippable Smartphones

You don’t realize how cyclical life is until you return to a gadget trend after a decade. When I shut my Motorola Razr back in the naughties, I figured that it was the last time I would be flirting with that form factor, as candy bar-style smartphones were now taking over the general gadget zeitgeist.

Then, I reviewed the Galaxy Z Flip 3 last year. And I realized there’s a future in folding smartphones. Just overnight, Samsung introduced its fourth generation of the Galaxy Z Flip and Galaxy Z Fold. We thought there was no better time than now to reflect on the journey that brought us here.

Samsung may be the manufacturer that’s popularized the folding smartphone, but others have introduced their own versions that are worth mentioning. Here’s an abridged look back at the history of the folding smartphone in the last decade.

Thank you, flip phones of yore

An Abridged History of Foldable and Flippable Smartphones

First, we have to shout out the original flip phone of yore for paving the way. If it weren’t for Samsung’s flip phones or the Motorola Razr (which it tried to reprise as a foldable later on), we wouldn’t have considered that phones could be condensed down to a pocketable size.

Isn’t a foldable e-reader just a book?

Screenshot: GSMArena / YouTubeScreenshot: GSMArena / YouTube

Before Samsung came out swinging with its foldable AMOLED display, a few other companies tried to make strides within the industry. In 2006, Polymer Vision showed off a rollable concept and a foldable device called the Readius, which functioned mostly as an e-reader rather than a full-blown mobile device.

It’s morphing time! Nokia shows off its Morph concept

An Abridged History of Foldable and Flippable Smartphones

In 2008, Nokia showed a concept video of a foldable display that could be molded into different form factors. The original teaser shows a thin tablet that’s essentially a slab of glass that could then tri-fold down and latch on to your wrist like a slap bracelet. The novel nature of the Morph made it seem like the technology was ahead of its time.

Samsung teases us with foldable AMOLED

An Abridged History of Foldable and Flippable Smartphones

The first hint that Samsung was working on a foldable display was in 2011, when the company showed off a concept tablet that utilized a fully flexible AMOLED display. The display could bend, fold, and roll-up. It was even a bit see-through.

Kyocera was on to something

Image: GSMArenaImage: GSMArena

Around the time Samsung started teasing us with its foldable AMOLED, Kyocera released a dual-touchscreen Android phone called the Echo. It had dual 3.5-inch displays that folded into one another, plus software tweaks allowing you to run two apps simultaneously, side-by-side. Again, this is a case of another manufacturer being ahead of its time. The version of Android it was running didn’t yet support split-screen mode.

The three-screened ZTE Axon M just didn’t quite cut it

Photo: Sam Rutherford/GizmodoPhoto: Sam Rutherford/Gizmodo

Samsung may have had the technology for folding smartphone displays, but it would take a while before making a phone with that particular form factor. Until then, if you were considering a foldable smartphone, you were likely looking at something dual-screened like the Kyocera Echo.

ZTE launched the Axon M in 2017 in the US via AT&T. I still have my original review unit floating somewhere in my gadget closet. The phone had three screens in total: a 5.2-inch front screen and two 5.2-inch displays on the inside that folded out into a larger 6.8-inch tablet-style display. The Axon M was certainly cool, but the lack of proper software optimization, plus the physical bezel separating the two displays didn’t quite deliver on the experience.

Royole Flexpai was a royal letdown

Photo: Matthew Reyes / GizmodoPhoto: Matthew Reyes / Gizmodo

Technically, the first bendable smartphone to market was the Royole Flexpai, launched days before Samsung showed off its updated flexible display. The Chinese electronics brand made it immediately available for a little over $1,800, though initial impressions of the device didn’t seem like it was worth the hassle of procuring one from overseas.

Samsung officially starts us off with the Galaxy Fold

Photo: Sam Rutherford/GizmodoPhoto: Sam Rutherford/Gizmodo

Samsung launched its first consumer-ready foldable smartphone in 2019. The device was teased relentlessly, though when it was launched, it landed with a smack. The Fold, which started as a device with a measly 4.6-inch display, opened up like a book to reveal a 7.3-inch Dynamic AMOLED inside. It also had a protective plastic film on the inner display, which some reviewers unknowingly pulled off. Samsung then retracted those review units and relaunched the Fold a few months later with a fix.

It’s still too bad Huawei is banned elsewhere

Photo: Sam Rutherford/GizmodoPhoto: Sam Rutherford/Gizmodo

Huawei isn’t a brand you can buy to use in the US anymore, but it made stride around APAC with the foldable Mate X. The expensive bendable phone stole the spotlight from the Galaxy Fold after a wave of mishaps with Samsung’s initial review devices. Huawei is still making folding phones.

The Mate X was a bona fide, all-screen folding smartphone. But it folded back into a candy bar-sized phone rather than into itself like a book. It had a 6.8-inch front display and a 6.38-inch display on the back, which also housed the rear-facing cameras. To open the Mate X, you could press a button, transforming the phone into an 8-inch slate device. Huawei made headway with this design, especially ensuring the bezels weren’t overloading the available screens.

Xiaomi figures out folding phones

Screenshot: XiaomiScreenshot: Xiaomi

Xiaomi also waves the folding smartphone flag around the region. China’s largest smartphone manufacturer joined Samsung and Huawei in manufacturing flexible phones. The company once teased a tri-fold design, but its first launch was actually the Mi Mix Fold in 2021.

Motorola reprises the Razr as a folding flip phone

Image: VerizonImage: Verizon

Motorola tried desperately to revive the Razr brand as a folding smartphone in 2019. And I mean, it REALLY tried. The 6.2-inch P-OLED foldable, which resembled Motorola’s original Razr flip phone, also had a “Quick View” display on the front, a 2.7-inch OLED. But the phone suffered from lackluster reviews, and its exclusive deal with Verizon in the US meant it was only available to a small set of users.

Samsung’s Galaxy Flip did what Motorola couldn’t

Photo: Caitlin McGarry / GizmodoPhoto: Caitlin McGarry / Gizmodo

Samsung’s first Z Flip model came at the right time. It was after the company had some time to work out the kinks of its almost-disastrous Galaxy Fold launch. It also followed Motorola’s struggle to capitalize on the nostalgia of its hit flip phone from the early aughts. The Galaxy Z Flip has since endured more iterations, and the fourth looks badass.

TCL tried its hand at something foldable, too

Image: CNETImage: CNET

TCL is typically known for its affordable smartphones and TVs, though it’s also played around with a folding form factor. The company showed off a foldable concept device at CES 2020. Then, a month later, it teased a slide-out smartphone that managed to capture more eyes for its relatively creative way of folding within itself.

Microsoft Surface Duo: Hey, it folds!

Photo: Sam Rutherford/GizmodoPhoto: Sam Rutherford/Gizmodo

The Microsoft Surface Duo is not foldable in the current sense. It doesn’t have a screen that bends in the middle, though it has two inner displays that fold into an 8.1-inch device. It also features a host of software tweaks to make it the ultimate productivity device. Unfortunately, even with the second-generation Duo 2, Microsoft failed to impress users.

We can’t forget Oppo’s brave attempts

Image: GSMArenaImage: GSMArena

We’d be remiss not to mention OnePlus’s parent company, Oppo, for its first flagship foldable, the Find N. Although it’s not available in the US market, its existence has helped normalize the form factor as a crucial part of any manufacturer’s device portfolio . To its credit, Oppo has a history of trying on different smartphone styles to stand out from the saturated sea of ​​competition in the Android space.

Will Google ever have a folding smartphone?

Photo: Sam Rutherford/GizmodoPhoto: Sam Rutherford/Gizmodo

We’ve reached the end of our folding smartphone journey, though there’s plenty more up ahead to look forward to, including rumors about stretchy displays and Samsung’s other experiments. Microsoft might even have another form factor up its sleeve, though it’s uncertain if it’ll be in the smartphone space, considering the Duo’s reception.

However, the company we’re holding out hope for is Google, with its Pixel lineup of smartphones. We’ve been following the rumors over the past few years in a sort of will-they-won’t-they way. It seems that currently, they won’t. The last thing we heard was that Google’s foldable Pixel had been delayed for a second time, and we likely won’t hear much else until at least the end of the year.

This article has been updated since it was first published.

Categories
Entertainment

Kanye West covers up as he’s seen out following ex-wife Kim Kardashian’s split from Pete Davidson

Kanye West appeared to be in good spirits as he was seen stepping out in Los Angeles on Wednesday, following recent news that his ex-wife Kim Kardashian split from her beau Pete Davidson.

The rapper, 45, covered up in a sleeveless black hoodie worn over a camouflage long-sleeve shirt, which he paired with gray denim pants and a ball cap.

The outing comes after Dailymail.com’s exclusive story in which a source said Kim, 41, found Kanye’s Instagram post on Monday – an image of a fake New York Times newspaper with the headline ‘Skete Davidson dead at age 28’ – ‘appalling.’

Out and about: Kanye West appeared to be in good spirits as he was seen stepping out in Los Angeles on Wednesday

Out and about: Kanye West appeared to be in good spirits as he was seen stepping out in Los Angeles on Wednesday

The musician finished his look with a pair of sturdy black boots. The busy star was also seen holding his cellphone in his hand.

Not wanting to draw any attention, he was seen pulling his hoodie over his cap at one point and shielding his face.

The entertainer posted the mock-up newspaper page announcing Pete’s, 28, ‘death’, just two days after his split with Kim.

Casual: The rapper, 45, covered up in a sleeveless black hoodie worn over a camouflage long-sleeve shirt, which he paired with gray denim pants and a ball cap

Casual: The rapper, 45, covered up in a sleeveless black hoodie worn over a camouflage long-sleeve shirt, which he paired with gray denim pants and a ball cap

Good spirits: The outing comes following recent news that his ex-wife Kim Kardashian, 41, split from her beau Pete Davidson, 28

Good spirits: The outing comes following recent news that his ex-wife Kim Kardashian, 41, split from her beau Pete Davidson, 28

The newspaper had Monday’s date and also a tagline which read: ‘Kid Cudi meant to play funeral but fearful of bottle throwers.’

That was in reference to Kid Cudi, 38, cutting his headline set at Rolling Loud short on July 22 due to people throwing bottles at him. He filled in for Kanye at the last minute but then Kanye turned up later anyway and performed.

Kim subsequently slammed the ‘appalling’ meme on Instagram, and demanded he take it down. The post was removed from his account of him.

A source close to the star told DailyMail.com: ‘Kim won’t stand for this. She is demanding that Kanye take the post down, but he won’t.’

Busy: The busy star was also seen holding his cellphone in his hand

Busy: The busy star was also seen holding his cellphone in his hand

Exit: Kanye was spotted exiting a building in LA

Exit: Kanye was spotted exiting a building in LA

Covered up: Not wanting to draw any attention, he was seen pulling his hoodie over his cap at one point

Covered up: Not wanting to draw any attention, he was seen pulling his hoodie over his cap at one point

Covered up: Not wanting to draw any attention, he was seen pulling his hoodie over his cap at one point

‘She has been vigorously defending Pete. Ella she’ll never get back together with Kanye over the way he’s treated the people she loves and respects.

‘She has tried incredibly hard to have a good co-parenting situation for the children.’

‘She won’t stand for this type of behavior from him.’

The source added: ‘Kim and Kanye’s divorce is still moving ahead. She thinks that people should not be ok with this post – and Instagram should not allow this type of harassment.’

The reality TV star split with Pete last week after first being linked in October when Kim made her hosting debut on Saturday Night Live.

After less than a year together the pair decided to just be friends, because of the long distance and clashing schedules – with Kim based in the US while Pete is filming in Australia.

Sturdy: The musician finalized his look with a pair of sturdy black boots

Sturdy: The musician finalized his look with a pair of sturdy black boots

Appalled: It comes after Dailymail.com's exclusive story in which a source said Kim found Kanye's Instagram post on Monday - an image of a fake New York Times newspaper with the headline 'Skete Davidson dead at age 28' - 'appalling'

Appalled: It comes after Dailymail.com’s exclusive story in which a source said Kim found Kanye’s Instagram post on Monday – an image of a fake New York Times newspaper with the headline ‘Skete Davidson dead at age 28’ – ‘appalling’

It’s not the first time Kanye has threatened Pete online as he’s regularly posted and then deleted attacks waged at his ex-wife’s former boyfriend.

It was revealed earlier this week that Pete has been seeing a therapist for ‘trauma therapy’ after months of online harassment from Kanye over his relationship with Kim.

The former Saturday Night Live star is said to have found the ‘attention and negativity’ coming from the rapper a ‘trigger’ and has been receiving trauma therapy since April.

A source told People on Monday: ‘He has been in trauma therapy in large part [due to Kanye]. The attention and negativity coming from Kanye and his antics of him is a trigger for [Pete]and he’s had to seek out help.’

At it again: West took another swipe at the former SNL comedian following his split from Kim last week

At it again: West took another swipe at the former SNL comedian following his split from Kim last week

Trauma: It was revealed earlier this week that Pete has been seeing a therapist for 'trauma therapy' after months of online harassment from Kanye over his relationship with Kim;  Pictured 2022

Trauma: It was revealed earlier this week that Pete has been seeing a therapist for ‘trauma therapy’ after months of online harassment from Kanye over his relationship with Kim; Pictured 2022

Kanye previously shared a screengrab of Davidson’s defunct Instagram account and took credit for driving him away from the social media platform.

‘Ran Skete off the gram,’ he wrote. ‘Tell your mother I changed your name for life.’

In March, Kanye released a claymation video for his track Eazy, in which he depicted himself committing violent acts against a character resembling Pete.

Kanye also took to social media in March and said he was ‘really concerned’ that Davidson would get Kim ‘hooked on drugs,’ adding, ‘He’s in rehab every two months.’

West previously acknowledged his social media posts came off as harassing Kardashian, after he shared text messages with her saying that his previous torrent of posts were putting Davidson in danger.

Last selfie: A source close to Davidson confirmed the couple's split to DailyMail.com on Friday, following their nine-month romance

Last selfie: A source close to Davidson confirmed the couple’s split to DailyMail.com on Friday, following their nine-month romance

The way they were: Kim and Kanye married in 2014 but she filed documents to be recognized as legally single in December, 2021, following their split;  Pictured in 2016

The way they were: Kim and Kanye married in 2014 but she filed documents to be recognized as legally single in December, 2021, following their split; Pictured in 2016

‘I know sharing screen shots was jarring and came off as harassing Kim,’ West wrote on Instagram. ‘I take accountability.’

In the texts, Kardashian told West he was ‘creating a dangerous and scary environment and someone will hurt Pete and this will be all your fault,’ later adding, ‘There are dangerous people out there and this is scary and it doesn’t have to be.’

Kim and Kanye married in 2014 but she filed documents to be recognized as legally single in December, 2021, following their split.

The pair – who have four children together, including North, 9, Saint, 6, Chicago, 4, and Psalm, 3 – have been co-parenting since she filed for divorce back in January 2021.

The couple had a trial-setting conference in their dragging divorce on Friday, and it was revealed that the Donda rapper recently lost his fifth divorce lawyer.

His attorney, Samantha Spector asked to be relieved as counsel and said her relationship with Kanye was ‘irretrievably broken’ though she did not specify why, as per TMZ.

The judge also made it clear that unless Kanye ‘submits his financial declarations to settle the remaining issues’ the case will go to trial in December.

Co-parenting: The pair - who have four children together, including North, 9, Saint, 6, Chicago, 4, and Psalm, 3 - have been co-parenting since she filed for divorce back in January 2021

Co-parenting: The pair – who have four children together, including North, 9, Saint, 6, Chicago, 4, and Psalm, 3 – have been co-parenting since she filed for divorce back in January 2021

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Categories
Sports

Paul Green live updates: Rugby league world in shock after death of NRL premiership-winning coach

Here’s our digital sport lead Kyle Pollard:

Green’s legacy as the first coach to take the Cowboys to premiership glory would follow him even as he farewelled the club in 2020.

With two grand finals and a long-awaited trophy under his belt, the question was always going to be ‘what’s next?’

For Green, it was the Broncos.

The powerhouse club had let Anthony Seibold go, and for many, Green was the natural man to step into the seat. Experienced, respected, and a Broncos Old Boy to boot.

And while his interview was reportedly exceptional, Kevin Walters stood fair and square in his way.

“Look, I was disappointed to miss out on the Broncos,” he told The Courier-Mail’s Peter Badel.

“But I knew the situation I was walking into. I knew what ‘Kevvie’ brought to the job and I knew what I brought to the job.

“There’s no ill-feeling at all towards the Broncos at all.”

Instead, Green would take the head coach role at the Maroons, in what would be a transition period between the old and the new as the rep team moved from Wayne Bennett, to Green, and eventually to Billy Slater.

It was a brutal result, with a dominant Blues outfit getting the job done in the first two games.

Green would however go on to claim Origin III, and mark himself in the record books as one of only 13 men to coach the mighty Maroons.

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Here’s the highlights from that game.

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Categories
US

Former Twitter Employee Found Guilty of Acting as an Agent of a Foreign Government and Unlawfully Sharing Twitter User Information | takeover bid

Federal Jury Finds Former Twitter Middle East Media Partnerships Employee Guilty of Fraud, Conspiracy, Obstruction, and Foreign Agent Charges for Bribe Scheme to Access, Monitor, and Convey User Information on Behalf of the Kingdom of Saudi Arabia and its Royal Family

A federal jury yesterday convicted a former Media Partnerships Manager for the Middle East/North Africa (MENA) region at Twitter of acting as a foreign agent without notice to the Attorney General, conspiracy, wire fraud, international money laundering, and falsification of records in to federal investigation. The verdict follows a two-week trial before the Honorable Senior US District Judge Edward M. Chen for the Northern District of California.

According to court documents and evidence presented at trial, Ahmad Abouammo, 44, formerly of Walnut Creek, California, and currently residing in Seattle, was employed at Twitter as Media Partnerships Manager for the MENA region. The evidence at trial demonstrated that Abouammo took bribes in exchange for accessing, monitoring, and conveying the private information of Twitter users to officials of the Kingdom of Saudi Arabia and the Saudi Royal family. In this position, Abouammo was responsible for protecting Twitter user information and owed Twitter his honest services from him. Twitter policies also required Abouammo to disclose violations of Twitter’s security policies and report gifts from those with business dealings with the company. When questioned about the accesses of Twitter user information and his receipt of bribes, Abouammo then lied to FBI investigators and falsified a document.

“Abouammo acted in secret as an agent of a foreign government targeting dissenting voices,” said Assistant Attorney General Matthew G. Olsen of the Justice Department’s National Security Division. “This verdict shows that the Justice Department will not tolerate any act of transnational repression and will hold accountable those who aid hostile regimes in extending their reach to our shores.”

“The Northern District of California is home to many of the most innovative technology companies in the world,” said US Attorney Stephanie M. Hinds for the Northern District of California. “One consequence of this good fortune is that companies in this district often collect and store vast amounts of data from customers and vendors. In this case, the government demonstrated, and the jury found, that Abouammo violated a sacred trust to keep private personal information from Twitter’s customers and sold private customer information to a foreign government. Abouammo’s decision to accept bribes in exchange for providing to a foreign government the protected information of customers could have untold damaging consequences. As this case demonstrates, we will not tolerate the misuse of personal information or attempts by foreign governments to recruit secret, malign agents at American technology companies. Where such misuse violates federal law, offenders will be prosecuted.”

“Any attempts by foreign governments to hijack free speech – in social media or any form – will not be tolerated here in the United States. This case is proof of the FBI’s commitment to defend our constitutional right,” said Assistant Director Alan E. Kohler Jr. of the FBI’s Counterintelligence Division. “Authoritarian governments rely on transnational repression to shape the world in their favor and stifle dissent. We remain dedicated to protecting the United States from all foreign and domestic threats, which includes efforts by foreign governments to stalk, harass, or intimidate the people within our borders.”

“The FBI San Francisco division works tirelessly to prevent efforts by foreign governments to suppress fundamental human rights, including the free speech of dissenting voices on US social media platforms,” said Special Agent in Charge Sean Ragan of the FBI’s San Francisco Field Office. “This verdict reaffirms the FBI’s dedication to stopping transnational repression from any foreign government and sends a clear message that justice will be brought to those who threaten the freedoms of an open society.”

According to the evidence presented at trial, Abouammo began receiving bribes from an official of the Kingdom of Saudi Arabia as early as December 2014. The foreign official met with Abouammo in London and provided Abouammo with a luxury Hublot watch. Abouammo later acknowledged the value of the watch was $42,000 when he offered it for sale on Craigslist. After the meeting in London, Abouammo began repeatedly accessing private information about several Twitter accounts, at least one of which was an influential account who was critical of members of the Saudi Royal Family and the government of the Kingdom of Saudi Arabia. Abouammo also continued to communicate with the official of the Kingdom of Saudi Arabia, including regarding the influential critical account.

Evidence at trial further showed that after Abouammo traveled to Lebanon in February 2015. A bank account was opened in the name of his father in Lebanon and Abouammo obtained access to that bank account. The account then received $100,000 from the official of the Kingdom of Saudi Arabia and Abouammo laundered the money by sending it into the United States in small wire transfers with false descriptions. Abouammo left his job at Twitter in May 2021 and, shortly thereafter, received another $100,000 into the bank account in Lebanon accompanied by a note from the official apologizing for the delayed payment. Abouammo responded, in part, by asking whether the official wanted any additional information from Twitter.

In October 2018, FBI agents interviewed Abouammo at his residence about his involvement in the scheme with officials of the Kingdom of Saudi Arabia. Evidence at trial demonstrated that Abouammo provided false information to the FBI investigators and falsified an invoice for one of the payments he received from the foreign official.

Abouammo was arrested on Nov. 5, 2019. On July 28, 2020, a federal grand jury returned a superseding indictment charging him with acting as an agent of a foreign government without providing notice to the Attorney General; conspiracy to commit wire fraud and honest services fraud; six counts of honest services fraud and wire fraud; international money laundering; and falsification of records in a federal investigation. The jury acquitted Abouammo of five of the counts pertaining to wire fraud and honest services fraud. The jury returned a verdict of guilty on all the remaining counts.

Abouammo faces a maximum sentence of 10 years in prison for the charge of acting as an agent of a foreign government and 20 years in prison for each of the other counts. In addition, each count for which Abouammo was found guilty carries up to a $250,000 fine and additional periods of supervised release to follow the prison term. A federal district court judge will determine any sentence after considering the US Sentencing Guidelines and other statutory factors. A sentencing hearing has not yet been scheduled.

Assistant US Attorneys Colin Sampson and Eric Cheng for the Northern District of California and Trial Attorney Christine Bonomo of the National Security Division’s Counterintelligence and Export Control Section are prosecuting the case with the assistance of Beth Margen and Alycee Lane. The prosecution is the result of an investigation by the FBI.

Categories
Business

Australia’s banks can withstand end of cheap money

If the soft landing scenario plays out as forecast by both the Reserve Bank and the Treasury, the initial lifting of interest rates will level off after working relatively quickly to bring inflation back down into the 2 per cent to 3 per cent target band in 2023.

‘Whatever it takes’ is the way to go

Ahead of next month’s Jobs and Skills Summit, this underlines why Treasurer Jim Chalmers should unambiguously back RBA Governor Philip Lowe’s “whatever it takes” commitment to returning inflation to target promptly, including the need for wage restraint.

Dr Chalmers should heed what Australia’s biggest bank and largest mortgage lender is indicating about getting on top of inflation quickly being in the best interests of indebted households, and rejecting out of hand the “inflation doesn’t matter” school of thought being promoted by the Australian Council of Trade Unions policy paper published on Tuesday.

The wacky thinking latched onto henceforth by the ACTU is a recipe for entrenching high inflation, and higher interest rates, reducing the flexibility of the economy, undermining living standards and throwing away the one achievement of the pandemic, the lower than 4 per cent jobless rate .

The strength and profitability of Australia’s well-capitalised and generally well-regulated banks is a national asset for a commodity-exporting economy exposed to global volatility. The banks’ strength, built mainly on the rock of their property loan books, is also a barometer of Australia’s frontier growth economy that, in normal times, draws in people from around the world to live, work, and buy a home.

CBA’s stellar results coincide with the stepping down of chairman Catherine Livingstone, who oversaw its exit from bancassurance and return to bread-and-butter banking after the Hayne royal commission.

The big four – CBA, National Australia Bank, ANZ, and Westpac – benefit from dominant market positions. The tide of cheap money running out that’s hitting tech stock valuations will probably also moderate the threat that fintech innovators pose to the traditional banks. The competitive challenge may now come from big tech behaviors such as Google and Meta.

CBA is also bearing the downside of digital diversification and the collapse in the buy now, pay later sector, as the value of its $100 million investment in 2 per cent of Klarna plummets.

Yet the intensification of competition for home loan market share has crimped CBA’s net lending margins. It is also driving ANZ’s bid to become a bigger and better competitor by taking over Suncorp Bank.

Lending margins – the difference between funding costs and interest charged to borrowers – tend to shrink and expand as interest rates fall and rise. The banks will now need to manage the large number of borrowers moving off fixed mortgage rates to variable rates pegged to the higher cash rate. Commercial pressures could also assist with this transition as the banks compete on refinancing terms to retain and win market share.

Australia’s banks remain far from perfect. Their business models are all similarly leveraged to a housing market that has been overinflated by too much cheap money and budget stimulus. But given its overall strength, the banking system appears reasonably positioned to withstand the interest rate correction without a crash landing.

Categories
Technology

SpaceX’s Starship won’t make 1st orbital launch this month

The first orbital test flight of SpaceX’s Starship vehicle won’t get off the ground in August.

SpaceX is targeting a six-month window that opens on Sept. 1 for the highly anticipated mission, according to a radio-spectrum license application (opens in new tab) that the company filed with the US Federal Communications Commission (FCC).

Categories
Entertainment

Tiffiny Hall praised for posting relatable gym selfie on Instagram

Fitness star Tiffiny Hall has been applauded by her fans for ‘keeping it real’ with a relatable gym selfie three months post-partum.

The 37-year-old welcomed her daughter Vada with comedian husband Ed Kavalee, 43, back in May this year.

The couple are also parents their 4-year-old son Arnold.

In the Instagram post, Tiffiny is seen standing in front of a full-length mirror at her gym, surrounded by workout equipment.

She is wearing black leggings, white trainers and a gray sports bra.

“Progress, not perfection” she captioned the image, while also adding the ‘strong’ emoji and a #bounceforward hashtag – a movement she started in response to social pressures put on mums to “bounce back” after giving birth.

She was rapidly inundated with messages of support, with many praising Tiffiny for sharing something so ‘raw’ and ‘real’.

“Tiff, thanks for being an awesome human and keeping it real for all of us ladies!” one commented.

“You are amazing! Your body is amazing at every stage.”

“Beautiful, healthy, natural. Taking your time allowing your body to heal and adjust” another said.

“You are hot as, strong woman.”

“Who and what define perfection? You look amazing” one person said.

“Beauty is in the eye of the beholder, I’m sure Ed thinks you’re the bees knees!”

“It is so fabulous to see someone in the spotlight taking things slowly after having a baby” another commented.

“Such an inspiration to mums out there.”

This is not the first time the former Biggest Loser coach has made waves with her ‘inspirational’ posts.

Back in June, just days after giving birth to Vada, she shared a photo of her post-partum body, prompting women to praise her for being “raw” with her fans.

In the post, she Tiffiny opened up about the hardships she faced in the “4th trimester”, the name given to the first few months after giving birth.

“Home from the hospital with Vada. Juggling post partum recovery, nurturing the sibling relationship so no one feels left out, sleep deprivation and feeding,” she wrote.

“Let the 4th trimester begin. The washing can wait! Any tips?”

Alongside her post, Tiff shared a photo of herself cradling baby Vada while wearing just a bra and knickers.

In the snap, Tiff’s postpartum body was on full display, she even had her hospital tag still around her right ankle.

Her “stunning” photo was quickly flooded with comments from Tiff’s fans, many thanking the star for being “raw” and “real” with them.

“Love the raw, realness of this pic ️you are fantastic Tiff,” one said.

“So lovely seeing what it’s really like, thank you for sharing with us,” another wrote.

“So beautiful thanks for sharing the real authentic truth,” someone else added.

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Categories
Sports

NRL 2022: Round 22 previews

New Zealand Warriors v Canterbury Bulldogs, 6pm Friday, Mt Smart Stadium
The Warriors have hit their lowest point since Stacey Jones took over as coach and he has turned to a fresh halves pairing in a bid to turn things around against a resurgent Canterbury outfit. daejarn asi shifts back into the halves with wayde egan moving to hooker to face a Bulldogs pack missing Tevita Pangai jnr, who has stayed in Australia for family reasons. In Raymond Faitala-Mariner they have a capable replacement. The Warriors are back home in Auckland but they’ll struggle to rein in a reinvigorated Bulldogs attack. Bulldogs by 10.
Caden Helmers

Penrith Panthers v Melbourne Storm, 7.50pm Thursday, BlueBet Stadium
The contest between these two never disappoints. The Panthers showed no signs of slowing down against Canberra, and were defensively excellent once again. And with no Jahrome Hughes for the Storm, their attack could start a little clunky. Viliame Kikau would be a big inclusion for the premieres, but you cannot underestimate the loss of James Fisher-Harris and his work rate. A big win can basically seal the minor premiership with three rounds remaining. Panthers by 6.
Christian Nicolussi

Parramatta Eels v South Sydney Rabbitohs, 7.55pm Friday, CommBank Stadium
Souths are humming and have a good record against the blue-and-golds. The Eels Won Without Mitchell Moses last Friday, but Manly could not have played any worse than the final 20 minutes of that game. Latrell Mitchell is a good enough reason to back the Bunnies. Mitchell, Cody Walker, Lachlan Ilias and Damian Cook have now played nearly half-a-dozen games together as a spine. Clint Gutherson and Dylan Brown need five-star performances again, while Shaun Lane has been solid on the left edge. Souths by 4.
Christian Nicolussi

Corey Horsburgh, Dale Finucane, David Klemmer, and Latrell Mitchell.

Corey Horsburgh, Dale Finucane, David Klemmer, and Latrell Mitchell.Credit:Getty

Sydney Roosters v North Queensland Cowboys, 3pm Saturday, Sydney Cricket Ground
The Cowboys boast the competition’s second-best away record, enough to suggest they won’t be haunted by any ghosts of seasons past when they arrive at the hallowed turf of the SCG this weekend. One thing they will need to account for is James Tedesco, the Roosters fullback who is doing absolutely everything in his power to will his side towards a finals appearance. He is breaking tackles at will and setting up tries and line-breaks like they’re going out of fashion. Jordan McLean is back for North Queensland after overcoming the hamstring injury which ruled him out of the Origin decider, but the Roosters have everything to play for in one of the games of the round. Roosters by 6.
Caden Helmers

Wests Tigers v Cronulla Sharks, 5.30pm Saturday, Scully Park (Tamworth)
Captain Dale Finucane returns for a Cronulla side that did enough to get past the Dragons last week, but not too much more. Based on the Tigers’ drop-off on Sunday, a similar effort will get a similar result for the Sharks but Craig Fitzgibbon will be praised to accept it. Kade Dykes looked great on debut at fullback and gets another crack in Tamworth. The Tigers had been so good until they found themselves in reverse against Newcastle, with coach Brett Kimmorley suddenly short on outside backs now David Nofoaluma is in Melbourne instead of on the wing for the injured Ken Maumalo. Sharks by 18.
dan walsh

Brisbane Broncos v Newcastle Knights, 7.35pm Saturday, Suncorp Stadium
Te Maire Martin
has been bussed in at fullback for the Broncos in place of Tesi Niu in a bid to halt a worrying two-game slump. Only catastrophe will cost Brisbane a well-deserved finals spot but they’ll be week-one cannon fodder if they can’t pull up their socks, particularly in the opening 20 minutes. Newcastle welcome back David Clemmer after last week’s HR nightmare, though their backs-to-the-wall win over the Tigers came at a cost: half Jake Clifford (broken arm) and Mitch Barnett (thumb) are both out. Tipping Brisbane to shake themselves out of a late-season funk at home. Broncos by 14.
dan walsh

Canberra Raiders v St George Illawarra Dragons, 2pm Sunday, GIO Stadium
Perhaps the last Ricky Stuart press conference really worth watching before the “weak gutted dog” attack was the match between these two teams, when the Raiders lost a cliffhanger in cyclonic conditions in Wollongong. The NRL later said Ben Hunt should have been penalized three times in the final 10 seconds – and yet the Raiders never got a whistle to send the game into golden point. This time, both teams are playing for their seasons and the Raiders will be without their coach after his one-week ban. They will also miss Joseph Tapine (ribs) and Nick Cotric (suspension), but Xavier Savage is back with Corey Horsburgh. Cody Ramsey is a chance of returning for the Dragons after being named in the extended squad, but there’s no Francis Molonorth Tarik Simswho has played his last game for the Dragons. Raiders by 12.
adam pengilly

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Categories
Australia

Veterans’ Affairs Minister apologizes to ADF members after royal commission report released, ‘National tragedy’

The veterans’ affairs minister has apologized to Australian Defense Force members and veterans after a royal commission report detailed the failures to address the rate of commit suicide.

The interim report from the Royal Commission into Defense and Veteran Suicide says the prevalence of suicide among serving and ex-ADF members “should concern us all” and the commissioners are “dismayed” by the lack of action from past governments to previous inquiries and reports .

It makes 13 recommendations for immediate action, including eliminating the backlog of compensation claims, simplifying and harmonizing veteran compensation and rehabilitation legislation, and improving the administration of the claims system.

Veterans' Affairs Minister Matt Keogh.
Veterans’ Affairs Minister Matt Keogh apologized to ADF members and veterans. (9News)

Veterans’ Affairs Minister Matt Keogh said the government will make a formal response to the recommendations before getting on “with the task of saving lives.”

Keogh called the rate of veteran suicide a “national tragedy.”

“It is devastating that Australia has lost more serving and former serving personnel to suicide than it has lost through operations over the last 20 years in Afghanistan and Iraq,” he said.

Keogh said he is “deeply sorry” for the failings and lack of action within the defense force and veterans’ affairs department.

The commissioners also noted the considerable number of previous reports and inquiries since 2000, identifying over 50 previous reports and more than 750 recommendations.

“While we acknowledge that many of these reports and inquiries were about discrete topics, we have been dismayed to come to understand the limited ways that Australian governments have responded to these previous inquiries and reports,” the report said.

In response to this, Keogh said it is “vital” that the recommendations are urgently addressed.

“It is clear that a number of recommendations from this interim report call on the government to get on with recommendations that have been the subject of numerous previous reviews in this area and it is vital that these are addressed as a priority,” Keogh said.

Keogh acknowledged the recommendations and details of the report will be confronting ADF members, veterans and families and urged them to seek support.

Opposition Leader Peter Dutton said the Coalition would support “reasonable steps” the government took in its response to the royal commission.

“It is a national tragedy and this is a problem that’s been frankly decades in the making, back to the Vietnam War where people were treated very poorly when they came home,” Dutton said.

“The way our country provides support to our veterans should be a source of national pride, not shame.

“I want to make sure we can support the government in every reasonable step they take to reduce and hopefully bring to zero the numbers who seek to take their own lives.”

SAS soldiers take part in a training exercise in Afghanistan in 2002.
SAS soldiers take part in a training exercise in Afghanistan in 2002. (Wade Laube)

Dutton called on the government to move the veterans’ affairs portfolio back into cabinet after it was made a junior ministry.

He refused to be drawn on whether the Coalition, which had been in government from 2013 until this year’s federal election, would take responsibility for issues faced by veterans, saying it was an issue which has “been going on for decades” and “is not about politics”.

The final royal commission report will be handed down in June 2024.

Categories
US

China’s trade curbs on Taiwan after Pelosi visit are drop in the ocean

Beijing’s new trade blocks against Taiwan affect about 0.04% of their two-way trade, making them more political than economic.

Beijing took action against Taiwan following US House Speaker Nancy Pelosi’s visit to the island earlier this month despite warnings from Beijing. That included suspensions of imports of Taiwanese citrus, frozen fish, sweets and biscuits and exports of natural sands to Taiwan.

Taiwan is a self-ruled democracy, but Beijing considers the island part of its territory and a breakaway province. China says Taiwan has no right to conduct foreign relations and warned for weeks against Pelosi’s visit.

What trade numbers show

US House Speaker Nancy Pelosi with Taiwan’s President Tsai Ing-wen, after arriving at the president’s office on August 3, 2022, in Taipei, Taiwan. Pelosi’s visit infuriated China, which regards the self-ruled island as its own and responded with test launches of ballistic missiles over Taipei for the first time, as well as ditching some lines of dialogue with Washington.

Handout | Getty ImagesNews | Getty Images

When it comes to Taiwan’s imports from mainland China, more than half of the $82 billion traded in 2021 were electrical machinery, electronic and technological parts as well as nuclear reactors and boilers.

As for Taiwan’s exports to China, 65% of them were also similar goods in electrical machinery, electronic and technological parts.

Drop in the ocean

On the other hand, the volume of trade in areas that Beijing has targeted is relatively small.

Exports of natural sand to Taiwan — which Beijing has targeted — were a drop in the ocean against the above figures. They amounted to about $3.5 million last year, data from the Taiwanese trade bureau showed.

They were also a small trade compared with natural sand exports from Australia and Vietnam, the biggest suppliers of natural sand to Taiwan last year. Together, they supplied about $64 million of the raw material used in construction and other industries, making up 70% of Taiwan’s purchases, according to its trade bureau.

Similarly, the targeted trade of citrus was valued at a relatively small $10 million last year, though mainland China was also Taiwan’s biggest citrus buyer, Taiwan’s trade data showed.

The agricultural products now in the headlines are only a fraction of Taiwan’s export basket. And so the headline impact on Taiwan won’t really be noticeable.

Nick Brown

Economist Intelligence Unit

Other targets such as Taiwan’s exports of bread, pastry, cakes and biscuits to mainland China were worth more than $50 million in total last year.

Beijing’s specific suspension of two kinds of frozen fishes, horse mackerel and largehead hairtail, were valued at over $3 million in 2021, according to Taiwan’s trade bureau.

“China’s economic retaliation against Taiwan is a long-standing strategy in its diplomatic playbook. That said, its decision to target relatively low-value trade items reflects the limits of its economic pressure toolbox,” said global trade lead analyst at the Economist Intelligence Unit , Nick Marro.

“It’s already had restrictions on Chinese visitors to Taiwan in place for a few years, which carry more economic significance; the agricultural products now in the headlines are only a fraction of Taiwan’s export basket. And so the headline impact on Taiwan won’t really be noticeable.”

Precedents

Beijing’s trade suspensions against Taiwan are not a new phenomenon.

In previous years, tensions between the two have led to bans on mainland travelers to Taiwan.

Last year, China suspended imports of Taiwanese pineapples, citing quarantine measures over “harmful creatures” that came with the fruit. China was Taiwan’s biggest pineapple buyer up to that point.

Investment bank Natixis said that the recent Chinese trade restrictions focused on “highly replaceable food products” but not the information and communications technology sector in which the two trading partners have the most trade.

The bank also said mainland China will continue to import from Taiwan as long as it needs the goods, similar to what it has done in other trade conflicts such as the one it has with Australia and the United States.

In the China-Australia trade dispute that started in 2020, China restricted the purchase of some goods such as barley and coal but continued to buy iron ore from Australia, a key ingredient for China’s steel production and the bedrock of the countries’ trade.

There may also be other fallouts from the Pelosi visit that could hurt wider regional trade. For example, heightened military drills in the Taiwan Strait may delay shipments, analysts say.

“The shutting down of these transport routes — even temporarily — has consequences not only for Taiwan, but also trade flows tied to Japan and South Korea,” Marro said.

“It’s not just a story for Taiwan and China, but also for their neighbors, as well.”

Analysis by logistics platform Container xChange said any rerouting of shipping lines to avoid military exercises may be problematic for the trading world as it enters peak shipping season.

Container xChange Chief Executive Christian Roeloffs said, however, that supply chains have become far more resilient over the course of the pandemic.

Customer feedback shows any rerouting of vessels away from the Taiwan Strait will add a few days to ship voyages, though Roeloffs does not anticipate a massive hit to logistics costs.

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