Money – Michmutters

Tag: Money

Categories
Business

Salt Bae’s London restaurant has made £7m in just four months despite getting hammered by everyone

Salt Bae's London restaurant has made £7m in just four months despite getting hammered by everyone

Salt Bae’s restaurant in London has reported an impressive £7 million ($8.55m) in sales in its first four months of trading despite receiving poor reviews and criticism over its prices.

All it took was one customer purchasing one of the restaurant’s gold leaf-covered steaks and a bottle of wine.

Okay, admittedly it took a little bit more than that, but the infamously high prices at the restaurant will no doubt have gone a long way in helping the Nusr-Et Steakhouse in Knightsbridge earn into the millions within its first few months.

The restaurant, owned by viral sensation Salt Bae (Nusret Gökçe), opened its doors in September 2021 before revealing its takings in a financial report filed to the UK’s Companies House.

The report revealed that the company brought in £7m in its first four months of trading, with an overall profit of £2.3m ($2.79m) in the year to December.

Nusret UK Limited, which owns the restaurant and is controlled by the Turkish conglomerate Doğuş Group, said the Knightsbridge location had ‘performed higher than the expected results’ in spite of the impacts of coronavirus on the hospitality industry.

The high earnings also come in spite of the mixed reviews the restaurant has received, with its rating on Google coming in at just 2.9 stars and a TripAdvisor rating placing it among the worst places to eat in London.

Reviews from customers have been varied, with some praising the food, atmosphere and overall experience while others just can’t get over the prices, which according to receipts shared by customers include £18 asparagus, £11 Red Bulls and a staggering £850 steak .

One review from a not-so-impressed customer reads: “Bang average for what it’s supposed to be….I went with the intention of hoping I’d have at least a half decent experience. But slow service, average food, with the ridiculous price they charge for what they’re giving… in short, if you can avoid going, definitely do so.”

Another says: “Not even mentioning the money I knew where I was going but service and food are not worth it. Getting food before drinks, stake [sic] was very good but had better in GAUCHO for half the price and with better wine selection. Don’t get the fuss around this… maybe superficial reasons for the rich to feel rich. my macdonald’s [sic] after was great tho.”

Though the restaurant obviously isn’t for everyone, it’s at least received enough praise to edge it towards a three-star rating on Google, and there are a number of five-star ratings from customers who were blown away by their experiences. Plus, the report of his earnings indicates it’s not doing too badly either way, so for once Salt Bae will probably have no issue ignoring the saltiness.

.

Categories
Business

Powerball winner: Grandmother says she ‘couldn’t move’ after massive $20 million win

Powerball winner: Grandmother says she 'couldn't move' after massive $20 million win

A grandmother in Melbourne’s west who woke up $20m richer after winning Powerball has revealed the secrets behind her newfound wealth.

The Truganina woman held the only national division one winning entry in Powerball draw 1369 on Thursday, turning her into a multi-millionaire overnight.

The lucky winner made the sage decision to switch up her usual numbers, which delivered her the $20m.

“I decided to mix things up, and instead of putting my usual three to four games on, I decided to get a Powerhit consisting of special numbers that mean the most to me,” she told the Lott.

Supplied Money Powerball supplied photos generic
Camera IconThe woman’s winning numbers were different from the ones she usually goes with. Credit: Supplied

“I’ve never expected to win anything big. I usually land three numbers, but never anything more.

The winning numbers in the draw were 30, 23, 9, 22, 5, 28 and 18, while the Powerball number was 3.

The woman also defied her husband’s doubts, who thought she had no chance of winning.

“When I purchased the ticket, my husband and daughter were with me, and I told them that I’d put a ticket on for Powerball, and my husband said to me, ‘don’t bother, we’re never going to win ‘” she grandmother said.

“I guess I’ve proved him wrong.”

The grandmother got the thrill of her life when she realized she had the winning numbers.

“I was sitting in the lounge room, and I checked the winning numbers before going to bed, and I didn’t believe it,” she said

“I couldn’t get out of the chair. I couldn’t go to the toilet. I couldn’t move. It was so surreal.

“I only got about 40 minutes sleep last night. I’m so tired, but it’s worth it.”

The grandmother could not believe her luck when she won.
Camera IconThe grandmother could not believe her luck when she won. Credit: Supplied, The Lott

The woman wants to use her millions to treat her family, with plans already under way for an Australian holiday.

“We would love to travel around Australia via train. All the sightseeing we would do is getting me excited!” she said.

“We would also love to help our children and grandchildren. We might help them all buy a house!”

The woman bought her winning entry from Wyndham Village Lotto & News, with the store’s owner Mahesh Thakur saying they were thrilled to have sold her the lucky numbers.

“It’s truly a special day for us, and we’re absolutely over the moon,” he said.

“When we found out the news last night, we couldn’t believe it. I couldn’t sleep either.”

The Lott’s division one winning tally has now reached 272 for 2022.

.

Categories
Australia

North-west Brisbane traffic and transport study draws heated debate between Labor state, LNP local governments

Line of cars stuck in traffic on suburban road

Queensland’s Transport Minister has described Brisbane City Council’s latest vision for a new toll road to relieve congestion in the city’s north-west as a “feeble fantasy” and a “farce”.

The six-lane tunnel, which would run between Bald Hills and connect with the Airport Link at Kedron, was part of the outcome of a $10 million federally-funded study undertaken over two years by the council.

It found northern Brisbane’s annual congestion and public transport crowding was costing $312 million per year.

That would rise to $538.5m by 2031 and $859m by 2041.

The study found significant community opposition towards any surface road or rail development through the North West Transport Corridor, which had been reserved by the state government since the 1980s.

Main Roads Minister Mark Bailey speaks to the media at a press conference on the Gold Coast on April 10, 2018.
Mr Bailey says the council had to cancel big projects yet released a study which recommended multi-billion-dollar road network infrastructure builds.(ABC News: Ashleigh Stevenson)

But Transport and Main Roads Minister Mark Bailey said the major toll road had been costed with “no funding, no consultation with other levels of government, and no idea how to fix congestion.”

He also criticized the council’s decision to cut projects in its June budget, citing the cost of rebuilding from February’s floods, yet unveil billions of dollars in new road infrastructure via the north-west transport study.

“Only a month ago, Lord Mayor Adrian Schrinner was saying the council was broke and had to cut a lot of projects citywide and now they have a plan to spend $25 billion on new tollways and motorways,” Mr Bailey said.

“It is very clear this tired 20-year-old council is out of touch and out of ideas.

Man with light blonde hair stands at reading with microphones
Cr Schrinner has defended the study saying it offered solutions to a growing problem.(ABC News: Alicia Nally)

“Recently, Lord Mayor Adrian Schrinner cut the North Brisbane Bikeway, cut upgrades to Mowbray Park, and refused to pay a fair share for the Cooper Plains level crossing removal because they are so broke, and yet here he is spending like a drunken sailor with his ridiculous $14 billion toll road plan.

“The state government had no input into the study that was funded by the former Morrison Government despite the state government owning the corridor which shows what a farce this announcement is.

“The immediate focus should be on upgrading services on Gympie Road, which we are already doing through the $72 million Northern Transitway project which we are fully funded.

“The study entirely ignores that project.

“Tell the Lord Mayor he is dreaming.”

‘Doing nothing not an option’

Yet, Cr Schrinner said the council had “done some planning work to assist” in reducing congestion in a burgeoning part of the city.

He also hit back at the state for setting aside land and not using it to improve transport networks.

artist impression of Gympie Rd transport upgrade
An artist’s impression shows a Gympie Rd precinct as part of north-west transport corridor improvement.(Supplied: Brisbane City Council)

“We’re concerned about what we see as a black hole for investment for infrastructure from the state government for the north-west suburbs,” Cr Schrinner said.

“That land was intended to be a transport corridor yet it has disappeared from any infrastructure plans and residents are asking what is going to happen in the north-western suburbs. The area is growing and there are no plans from the state government coming out.

.

Categories
Australia

Fiji Reserve Bank releases 88-cent numismatic banknote with Chinese wealth and fortune imagery

Fiji Reserve Bank releases 88-cent numismatic banknote with Chinese wealth and fortune imagery

The Reserve Bank of Fiji (RBF) has begun issuing a Chinese-themed 88-cent commemorative banknote, which has been causing a stir with many questioning the timing and significance of the release.

The 88-cent collectors’ item was released on the eighth day of the eighth month of the year.

The number eight is considered a lucky number in Chinese culture, bringing wealth and fortune — and the more eights the better.

Accompanying the lucky Chinese number, one side of the note features an image of the Chinese god of wealth and a money tree.

The words “Good luck and good fortune. May prosperity be yours” are printed in the corner.

The other side has a hibiscus flower, the Fiji coat of arms and the Governor of the Reserve Bank’s signature.

The note is available for purchase from the RBF for FJ$28 ($18), but as it is numismatic, and so purely for collectors, it will not be in circulation.

The back of the 88-cent banknote showing a hibiscus flower and Fiji coat of arms.
The front of the banknote features Fijian symbols alongside the Chinese lucky number denominational value. (Fiji Reserve Bank)

Why has it been released?

The issue of the note has raised eyebrows and sparked a flurry of confusion on social media.

loading

People joked about the worth of the 88-cent currency, while others questioned why the RBF would release the note at a time when China’s growing influence in the Pacific has been causing diplomatic tension.

Following the “misinformation and speculation on social media,” the RBF issued a clarification statement.

It said the banknote was created to generate sales income targeting the Chinese and wider Asian market, adding that “NO NEW $0.88 numismatic banknotes will be entering into circulation”.

“The newly-announced $0.88 numismatic banknote is among the hundreds of non-circulation numismatic currency that the RBF has produced since 1974,” the statement said.

“The practice is similar to that of stamp production, whereby hobbyists can purchase the banknotes and coins for their collections.”

In the past, the RBF has issued banknotes and coins with Christmas imagery, celebrities, landmarks and Fijian fauna themes.

While it is common for the RBF to issue themed numismatics banknotes and coins, Biman Prasad — the leader of the National Federation party — said they are usually produced with a specific intention.

“They are normally produced to mark commemorative events of both national and sometimes international significance,” Mr Prasad told the ABC’s Pacific Beat program.

“I think the controversy is, what does it mean? What does this commemorate?”

De La Rue — a British company that collaborated with the RBF to design and produce the banknote — said it was released to bless people with fortune in challenging times.

“This theme was chosen because it was felt appropriate to wish people wealth and good fortune in the context of challenging global events,” De La Rue said.

loading

The RBF has generated over $8 million in income through the sale of numismatic banknotes and coins.

Mr Prasad said it is odd for the bank to be focusing on raising funds when there are more important issues to address.

“The Reserve Bank should be really concerned about other issues, particularly inflation and high cost of living,” he said.

Suspicion vs celebration

The Chinese community in Fiji is small but significant.

.

Categories
Australia

Tree-change nightmare: Elderly couple’s home contents sold off by removalist company

Tree-change nightmare: Elderly couple's home contents sold off by removalist company

An elderly Bribie Island couple is fighting for compensation after a removalist sold off their belongings during their interstate move to Bega in NSW.

The removal company, Kent Removals & Storage, apologized and described the incident as the result of human error, but lawyers say the retirees would have to take $50,000 from their pension to help recover just some of the items.

Watch the video above for more on this story

Watch the latest News on Channel 7 or stream for free on 7plus >>

Retirees Gary and Lorraine Taylor, aged in their late 70s, moved from Queensland to Bega in southeast NSW one year ago, making the tree change after more than 60 years of marriage.

They packed all of their possessions, including furniture and sentimental belongings, into two removal trucks – one of which contained $120,000 worth of furniture they would never see again.

When Wridgways, the removalist company they had originally planned to use, went into liquidation in July 2021, Kent Removals & Storage took 160 of its clients – including the Taylors.

Kent Removals & Storage was also assisting court-appointed liquidator Hall Chadwick to sell off Wridgways’ assets, such as office furniture, and say there was confusion over one of the containers full of the Taylors’ belongings.

That container was accidentally sent to online auction company Grays Online where everything was auctioned off at a fraction of its value.

Retirees Gary and Lorraine Taylor are distracted over the nightmare move during which interstate removalists sold off their belongings. Credit: 7NEWS
Two containers left the Taylors’ Bribie Island home last year, holding a lifetime of belongings that they would never see again. Credit: 7NEWS

Gary told 7NEWS his $28,000 rug was sold off for around $200.

It has left the couple in limbo. Some of their furniture had multiple pieces which were split between the two moving containers, so much of what did arrive could not be assembled.

Couch cushions with no frame and a dressing table without its mirror are stacked up within the bare-walled Bega house that is still piled with boxes.

“We’ve been married for 60 years, and 60 years of our bloody furniture has just gone down the tube and nobody cares,” Gary told 7NEWS.

Lorraine spoke through tears as she told 7NEWS the incident was “very hard to describe.”

“It’s not believable what we’ve been through,” she said.

“Its been terrible for both of us, and for our family.”

The Taylors were told by their lawyer that they could take legal action to recover some of their losses but it would cost the retirees $50,000.

That is money the couple would need to take from their retirement fund and something they cannot afford to do.

A year after their move the Taylors’ home in Bega is still largely empty. Credit: 7NEWS
Pieces of furniture were split between the two containers, which means some of what did arrive remains unassembled in their home. Credit: 7NEWS

Kent Removals & Storage CEO Steve Alves told 7NEWS: “Due to human error, one of the containers containing the effects belonging to Mr and Mrs Taylor was incorrectly sent to Grays Online for sale of the goods.”

Alves said the matter was only reported to him last Thursday and he has since apologized for the handling of the matter.

He said the matter had been referred to Kent’s insurers but that, “the matter was incorrectly internalized between Kent, Grays Online and Hall Chadwick with a view to establishing liability for this error”.

“As Kent Relocation Group contracted with Mr and Mrs Taylor and, irrespective of where the liability resides, Kent Relocation Group could and should have taken a lead role in this process and did not.”

Alves said the company “apologies for the way in which this matter has been handled.”

“Our team will focus on ensuring we support Mr and Mrs Taylor in any way we can to bring closure to this matter for them.

“In terms of the missing items, given the quantum of the potential claim, the matter has been referred to Kent’s insurers along with an instruction to ensure that the matter is expedited in a prompt, efficient and reasonable manner for Mr and Mrs Taylor”.

So far only 40 per cent of the moving charges have been refunded, but since the matter was escalated Alves said Kent Removals & Storage would work to refund 100 per cent of the moving charges.

As to whether they will see a refund of their $120,000 worth of lost furniture, they must wait for the companies’ insurance process to run its course to find out.

Diver wins crowd over with epic belly flop.

Diver wins crowd over with epic belly flop.

.

Categories
Business

No mortgage? Here’s why you should still pay attention to interest rate rises

man taking Australian notes out of a wallet

This week, in a further attempt to curb rising inflation, the Reserve Bank of Australia (RBA) raised the country’s cash rate for the fourth month in a row.

With the cash rate now at 1.85 per cent, those who took out low-interest loans during the last two years are facing the potential of hundreds of extra dollars each mortgage payment.

But for those who don’t have a mortgage, the concern around rising interest rates might be confusing.

What is the cash rate and why is it going up?

Know how your iceberg lettuce is costing $10 a head right now? It’s just one of the signs of inflation is soaring at the moment.

In June, annual inflation hit 6.1 per cent, the highest level in 21 years. This is due to multiple factors including supply chain interruptions from COVID-19 and the war in Ukraine.

To curb this inflation (the RBA usually likes to have it around 2–3 per cent) the RBA has rapidly been increasing the cash rate since May this year.

This means the amount of interest banks and lenders must pay on the money that they borrow between each other increases.

Banks will usually pass on the rate rise, like we saw earlier this week, and the higher cost of borrowing dampens demand and economic activity.

When it becomes more expensive to borrow money, there’s less demand for goods and services in the economy and the rate of inflation will usually decline.

First home buyers could be pushed back into renting

According to PropTrack senior economist Paul Ryan, a rising cash rate does not automatically mean your rent is going to go up.

“There’s not a direct effect of cash rate onto rents but they’re definitely inter-related,” he said.

“There may be some kind of attentiveness effect here where landlords see rates rise, they assess their costs and that may prompt them to raise rents for renters. But that is not the only reason, the other reason they are able to raise rents because the demand for rentals is so great.”

A combination of factors including returning international students and tourists, as well as housing market changes brought by COVID has seen rents rise dramatically over the last 12 months.

.

Categories
Business

No mortgage? Here’s why you should still pay attention to interest rate rises

man taking Australian notes out of a wallet

This week, in a further attempt to curb rising inflation, the Reserve Bank of Australia (RBA) raised the country’s cash rate for the fourth month in a row.

With the cash rate now at 1.85 per cent, those who took out low-interest loans during the last two years are facing the potential of hundreds of extra dollars each mortgage payment.

But for those who don’t have a mortgage, the concern around rising interest rates might be confusing.

What is the cash rate and why is it going up?

Know how your iceberg lettuce is costing $10 a head right now? It’s just one of the signs of inflation is soaring at the moment.

In June, annual inflation hit 6.1 per cent, the highest level in 21 years. This is due to multiple factors including supply chain interruptions from COVID-19 and the war in Ukraine.

To curb this inflation (the RBA usually likes to have it around 2–3 per cent) the RBA has rapidly been increasing the cash rate since May this year.

This means the amount of interest banks and lenders must pay on the money that they borrow between each other increases.

Banks will usually pass on the rate rise, like we saw earlier this week, and the higher cost of borrowing dampens demand and economic activity.

When it becomes more expensive to borrow money, there’s less demand for goods and services in the economy and the rate of inflation will usually decline.

First home buyers could be pushed back into renting

According to PropTrack senior economist Paul Ryan, a rising cash rate does not automatically mean your rent is going to go up.

“There’s not a direct effect of cash rate onto rents but they’re definitely inter-related,” he said.

“There may be some kind of attentiveness effect here where landlords see rates rise, they assess their costs and that may prompt them to raise rents for renters. But that is not the only reason, the other reason they are able to raise rents because the demand for rentals is so great.”

A combination of factors including returning international students and tourists, as well as housing market changes brought by COVID has seen rents rise dramatically over the last 12 months.

.

Categories
Australia

Police issue stern warning to Australians after more than $2 million stolen from victims under ‘Hi Mum’ text scam

Police issue stern warning to Australians after more than $2 million stolen from victims under 'Hi Mum' text scam

Police are warning Australians to be vigilant after more than $2 million has been stolen from victims under a “Hi mum” text scam.

The scam involves the offender sending a text message from an unknown mobile number claiming to be their son or daughter.

The message will say they have lost their phone, telling the victim to delete their old number.

Stream more local news with Flash. 25+ news channels in 1 place. New to Flash? Try 1 month free. Offer ends October 31, 2022

Once the victim engages in conversation, the offender will make an excuse about how they are unable to make a payment before asking to borrow money or have a payment made on their behalf.

The offender will usually state it’s a matter of emergency before providing details for the payment.

NSW Police has provided an example of the messages, warning Aussie parents to “beware of this scam!!!!”.

“Hey mum it’s me. I got a new number, you can delete the old one,” the offender writes alongside a thumbs up and heart emoji.

“Which is it to me????” the victim responds.

“Your oldest and cutest child xx,” the offender writes, before continuing the conversation.

“I got a new phone. I’m still transferring everything. I have a little problem I can’t solve… Can you help me with it?

“Well because of the new device I have to transfer all apps, but the banking app has put a 48-hour security on the app due to fraud. All nice but I have to pay 2 payments. Very annoying because I can’t do anything about it. Could you possibly pay for me and I’ll return it as soon as possible???”

Social media users were quick to respond to the warning, admitting they too could fall for the scam.

“I’d fall for that… Not even gonna lie,” one person wrote.

“I’d know it wasn’t my kid by the way it’s written, but I can see how people can fall into this trap,” another wrote.

A third said they received a similar message, but challenged the sender.

“I received this. I replied back with ‘what is your middle name if this is truly my child?’ They never responded. Number blocked and reported,” they wrote.

Cybercrime Squad Commander, Detective Superintendent Matthew Craft said victims of the “Hi Mum” scam dated back to October last year, but they have seen a “significant increase in reports” since May.

Victims in NSW and Victoria account for just over half of all “Hi Mum” scam reports made to Australian law enforcement bodies, followed by Western Australia and Queensland.

“We encourage people to look out for suspicious behaviors demonstrated by these scammers; including their failure to personalize any communication and excuses as to why they can’t speak on the phone,” Det Supt Craft said.

“If you receive a suspicious message on your mobile, particularly through social media or encrypted messaging, reach out to your relative by an alternative method of communication or call to confirm it is in fact them.

“In just a matter of months, the losses accumulated by Australian victims of this scam easily exceed $2 million when you consider the significant underreporting by victims of cybercrime generally.”

Det Supt Craft said the demographic of victims is predominantly aged over 55.

“Sadly, many parents are falling victim because they’re simply nice people who are concerned for their child’s welfare,” he said.

He said people who have lost money to a scam should contact their bank or financial institution as soon as possible and report the matter to the police.

For more advice on how to avoid scams and what to do if you or someone you know is a victim of a scam, visit the Scamwatch website.

.

Categories
Australia

Adelaide Remand Center general manager revealed as the who stole $100,000 prisoners of suspect’ money

Brenton Williams

A suppression order on the identity of Adelaide Remand Center’s general manager, who is charged with theft, has now been lifted.

Brenton Williams is accused of stealing more than $100,000 of prisoners’ money.

The offense was allegedly committed between April 27 and July 27 this year.

The 47-year-old was arrested last week and charged with an aggravated count of dishonestly taking property without consent.

His identity was suppressed by the Adelaide Magistrates Court “in the interests of the administration of justice”.

An item of clothing hangs from the exterior of the Adelaide Remand Centre.
The Adelaide Remand Center general manager is accused of stealing more than $100,000 of prisoner’s cash. (ABC News: Alina Eaton)

That suppression order was lifted today, after the police prosecutor confirmed she did not want to pursue it.

The Department for Correctional Services says it will launch an independent investigation into theft.

“The department’s main priorities are the welfare of employees at the Adelaide Remand Center and the person who is currently before the courts,” a departmental spokeswoman said last week.

Serco, the private company that runs prisons in Adelaide’s CBD, said it would also be working with police.

Williams did not apply for bail and was remanded in custody, with the case scheduled to return to court in October.

Corrections Minister Joe Szakacs said the allegations are deeply concerning.

“It is incredibly disappointing to be informed of these serious allegations relating to the senior Serco employee at the privately run Adelaide Remand Centre,” said Mr Szakacs.

“These are serious allegations, which I’m deeply concerned about.

“I want answers, and a full review is being undertaken by DCS to investigate this matter.

“As the matter is now before the courts, the state government cannot make any further comment.”

.

Categories
Australia

Adelaide Remand Center general manager revealed as the who stole $100,000 prisoners of suspect’ money

Brenton Williams

A suppression order on the identity of Adelaide Remand Center’s general manager, who is charged with theft, has now been lifted.

Brenton Williams is accused of stealing more than $100,000 of prisoners’ money.

The offense was allegedly committed between April 27 and July 27 this year.

The 47-year-old was arrested last week and charged with an aggravated count of dishonestly taking property without consent.

His identity was suppressed by the Adelaide Magistrates Court “in the interests of the administration of justice”.

An item of clothing hangs from the exterior of the Adelaide Remand Centre.
The Adelaide Remand Center general manager is accused of stealing more than $100,000 of prisoner’s cash. (ABC News: Alina Eaton)

That suppression order was lifted today, after the police prosecutor confirmed she did not want to pursue it.

The Department for Correctional Services says it will launch an independent investigation into theft.

“The department’s main priorities are the welfare of employees at the Adelaide Remand Center and the person who is currently before the courts,” a departmental spokeswoman said last week.

Serco, the private company that runs prisons in Adelaide’s CBD, said it would also be working with police.

Williams did not apply for bail and was remanded in custody, with the case scheduled to return to court in October.

Corrections Minister Joe Szakacs said the allegations are deeply concerning.

“It is incredibly disappointing to be informed of these serious allegations relating to the senior Serco employee at the privately run Adelaide Remand Centre,” said Mr Szakacs.

“These are serious allegations, which I’m deeply concerned about.

“I want answers, and a full review is being undertaken by DCS to investigate this matter.

“As the matter is now before the courts, the state government cannot make any further comment.”

.