Vaccine passports in Australia: who will impose them and how will they work?
The national cabinet has agreed that all states and territories will integrate vaccine certificates in their check-in apps. But as for how and when they will be implemented, it’s every jurisdiction for itself.
New South Wales and Victoria have laid out reopening plans that include exemptions from public health orders for the fully vaccinated, but it’s less clear how vaccine passports will be used in states that are currently Covid-free. Read More.
ASIC warns GameStop-style ‘pump and dump’ campaigns may amount to market manipulation
A “concerning trend” of social media posts being used to coordinate ‘pump and dump’ activity in listed stock may amount to market manipulation, according to Australia’s corporate regulator.
Pump and dump activity, the most famous example being the social media-induced GameStop buying frenzy earlier this year in the US, has been on the rise ever since. The Australian Securities and Investments Commission (ASIC) reports the activity may amount to a breach of the Corporations Act and can attract a fine of more than $1 million and up to 15 years imprisonment.
The activity occurs when a person buys shares in a company and starts an organised program to seek to increase (or ‘pump’) the share price. They do this by using social media and online forums to create a sense of excitement in a stock or spread false news about the company’s prospects. They then sell (or ‘dump’) their shares and take a profit, and other shareholders suffer as the share price falls. Read More.
ALA advocates for stand-alone NSW Coroners Court
With the aim of significantly reducing the time that loved ones are waiting for matters in the NSW Coroners Court to resolve – and to bring the state in line with other jurisdictions – the national lawyers association has called for a major restructure that would see it become a stand-alone, specialist court system.
Under the current hybrid structure, the Coroners Court often leaves families and friends in limbo for several years while they wait for a resolution. Australian Lawyers Association (ALA) and spokesperson Catherine Henry shared that for one matter involving the death of a teenager, it took five years to complete the inquest. Read More.
2 in 5 workers are ready to quit their jobs, as the ‘Great Resignation’ comes to Australia
New data shows the global resignation trend is now working its way through the Australian labour force. As the pandemic makes workers reconsider their careers, two in five Australians are getting ready to leave their current roles within six months. With a lack of career opportunities and pay rises identified as the main drivers, employers are under enormous pressure to retain staff. Read More.
Melbourne mates’ social media gym idea backed by Sydney billionaire
Two young Melbourne mates have launched a business that has just gained the backing of one of Australia’s most famous billionaires.
Jake Carp and Cara Davies, aged 21 and 22 respectively, dropped out of university earlier this year to pursue their rapidly expanding business idea, Steppen Fit. Mr Carp described Steppen Fit as a “crossover of TikTok, Spotify and Instagram but for fitness” — a free-to-use app that aggregates exercise tips into a social media-like feed to “democratise workouts” particularly for Gen Z users. Read More.
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