Connect with us

Business News

ASX plunges 11pc in worst financial year since the GFC as coronavirus recession bites – ABC News

There has never been a financial year as confusing or volatile as 2019-20, with markets swinging from bull to bear market (and back again) at breakneck speed amid the COVID-19 pandemic.

Published

on

post featured image

Business News

Panic buying at Woolworths and Coles: Stockpilers show off epic hoards – NEWS.com.au

Panic buying at Woolworths and Coles: Stockpilers show off epic hoards

Published

on

post featured image

These are the people who dont have to worry about panic buying and theyre proud of it.Stockpilers have shared photos of their epic hoards, saying they’re the smart ones who don’t have to hit the supermarkets with empty shelves.
Panicked customers rushed to Coles and Woolworths supermarkets in Melbourne ahead of lockdown measures coming into force.
Just a day after they were scrapped, supermarkets reinstated buying limits across Victoria as shoppers raided shelves.
But stockpilers were not among the crowds.
MORE: Follow the latest coronavirus news
“My close friends and family commented when we had the toilet paper phase, (but) the joke was on everyone else as I planned for a few lifetimes,” one wrote on the Budgeting, Food, Savings Ideas, Stockpiling, Life Help Australia Facebook page.
“I realise many think this is greediness, I have been a stockpiler long before COVID-19.”
Another said they were not just a stockpiler but a prepper.
“No I don’t have a tin foil hat, but I believe in having emergency supplies in case s**t hits the fan, case in point being this pandemic,” they wrote.
“But I also prep in case of job loss, economic crisis or god forbid a war.
“I ‘stockpiled’ this over 18 months, taking advantage of sale, promo codes and any extra funds I had.”
The prepper said they were not the reason shelves had been empty because they had not been to the supermarket for three months.
“So in fact there is more on the shelves as my family hasn’t needed to purchase anything,” they said.
“I have two 12 packs of toilet paper as I have used my stockpile and haven’t needed to purchase any toilet paper since January.
“Once this pandemic is over I will again start stockpiling, until then I’m respectfully staying out of shops and getting produce direct from a local farmer.”
One woman said how many of them had been able to provide toilet paper and other basics to friends, family and neighbours who were not able to find any.
She said people should learn from what they do.
“Teach them to pay attention to what they use every day and slowly, over time, build up a back up so that low stocks in shops, financial hardship and this pandemic, that will effect the way we live for a very long time, can still have necessities and feed their families and can have enough at home until stocks return to shelves,” she said.
Stockpiling is also big in the US where people gather things through collecting coupons.
One woman’s video on TikTok went viral in March, gaining more than seven million views when she shared her epic stocks.

Click here to view the original article.

Continue Reading

Business News

ACT electric vehicles to help stabilise power grid in first Australian research trial of its kind – ABC News

Fifty one vehicles in Canberra will be part of a trial — the first of its kind in Australia — to gauge how well car batteries can stabilise the electricity network against damaging surges.

Published

on

post featured image

A fleet of electric cars will be plugged into Australia’s biggest power grid to help protect it against blackouts and voltage fluctuations.

  • A fleet of electric cars with two-way batteries will be used to protect the power grid against blackouts
  • The trial will take place in Canberra using 51 vehicles, most owned by the ACT Government
  • The number of electric vehicles registered in Australia almost doubled over the past year

The 51 vehicles in Canberra will be part of a trial the first of its kind in the country to gauge how well car batteries can stabilise the electricity network.
The ACT Government is providing 50 Nissan Leaf vehicles while Canberra-based utility ActewAGL will provide the other.
Unlike some other electric vehicles, the Nissans have two-way batteries, meaning they can be charged from the grid but also provide power if needed.
The problem of grid instability has plagued Australia in recent years.
The sudden collapse of power lines during events like this summer’s bushfires can cause surges that destroy transmission equipment.
Widespread blackouts in South Australia in 2016, when a storm damaged ageing electricity towers, led that state to build the world’s biggest battery to support the grid during crises.
Bjorn Sturmberg says car owners may earn about $1,000 a year if their vehicle is helping the grid.(Supplied: ANU)
The ACT project’s research leader, Bjorn Sturmberg from the Australian National University, said the trial would assess how well a car fleet could balance supply and demand across the network.
“When electric cars are plugged in, they could be called on in a heartbeat to avoid a mass power outage,” Dr Sturmberg said.
“They’ll only have to do this a couple of dozen times a year when there’s a storm or some other emergency in the grid which means the grid needs power really quickly.
“The batteries in the electric vehicles can then inject power in a fraction of a second.”
The Federal Government has funded the research, along with businesses such as Nissan and JET Charge, which makes chargers that allow cars to support the grid.
ActewAGL executive Todd Eagles said the project was a crucial first step in rolling out the technology across the national energy market.
“Electric vehicles are a big part of the future energy solution in Australia,” he said.
Dr Sturmberg also said car owners who used their vehicles to help protect the grid could expect to earn about $1,000 a year by doing so.
In most cases, the plugged-in car would only be needed for up to 15 minutes at a time, draining the battery by no more than 5 per cent.
The number of electric vehicles on Australia’s roads has almost doubled over the past year.(ABC News)
The Australian Bureau of Statistics says the number of electric vehicles registered across the country almost doubled over the past year.
The cars’ costs remain relatively high the Nissan Leaf, for example, sells for about $50,000 but electric vehicles tend to be significantly cheaper to run and maintain than cars with petrol engines.

Click here to view the original article.

Continue Reading

Business News

MSI CEO Charles Chiang has died – PC Gamer AU

Chiang, 56, had been CEO of the Taiwanese company since early 2019.

Published

on

post featured image

MSI CEO Charles Chiang has died at the age of 56. According to Taiwanese news outlet Liberty Times, Chiang fell from the seventh floor of a building in Taipei’s Zhonghe District, after which he was rushed to hospital, where he was pronounced dead. No other details about the circumstances have been made available.
“Earlier today, MSI GM and CEO Charles Chiang passed away,” an MSI spokesperson told Tom’s Hardware. “Having been a part of the company for more than 20 years, he made outstanding contributions and was admired by his colleagues. Mr. Chiang was a respected leader in the MSI family, and helped pave the way for the brands success. We are all deeply saddened by the news, and are mourning the loss of Mr. Chiang. He will be deeply missed by the entire team.”
Chiang joined MSI in 1999 as Vice President of Engineering. In 2010 he became general manager of the company’s Desktop Platform Business Division, before moving into the CEO role in January 2019.
Micro-Star International, better known as MSI, was founded in 1986. Originally specialising in motherboards and GPUs, it nowadays produces PCs, laptops, monitors and other peripherals and hardware.

Click here to view the original article.

Continue Reading

Trending