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Business news and updates: Facebook says WSJ allegations are ‘mischaracterisations’

Dynamic Business brings you a daily rundown of the most recent business news and developments from Australia and around the world. Here’s the roundup for September 20:

Retailers hoping for Christmas cheer as Australia reopens

Despite the fact that large parts of Australia are closed down, consumer sentiment is rising. People who have not yet been vaccinated but are looking forward to it are the most confident. People who are unwilling to be vaccinated have the lowest level of confidence.

Confidence is up among the 57% of respondents who have had at least one vaccine dosage, reaching 103.7 points. Even more confident are the 27% of persons who are unvaccinated but willing to be vaccinated. 

The remaining 16% of respondents who characterised themselves as either unwilling to be vaccinated or uncertain have a sentiment level of 90.

The U.S. to probe possible insider trading at Binance 

According to Bloomberg News, US officials are investigating probable insider trading and market manipulation at Binance, potentially adding further heat to the cryptocurrency exchange that has become a subject of regulatory investigation in numerous nations.

Facebook says WSJ allegations are ‘mischaracterizations’

Facebook criticized a series of Wall Street Journal articles regarding its platform as containing “deliberate mischaracterizations” and “conferred egregiously false motives to Facebook’s leadership and employees.”

India’s struggling telecom firms welcome relief package

The Indian government’s aid plan for the country’s struggling telecom sector has been welcomed by industry executives and analysts. The package includes a four-year exemption from paying statutory dues for telecom businesses, automatic approval for 100 per cent foreign investment, authorization to share scarce airwaves, and a revision in the definition of revenue on which levies are paid. 

However, the government underlined that companies that take advantage of the four-year moratorium will be required to pay interest. It also eliminates the spectrum usage charge for airwaves obtained in future spectrum auctions.

U.S. official calls India’s Mastercard ban ‘draconian’

According to U.S. government emails obtained by Reuters, a top U.S. trade official privately criticised India’s July decision to prohibit Mastercard from issuing new cards, calling it a “draconian” move that caused “panic.”

Most UK small energy suppliers could be in trouble this winter

According to the Guardian, the majority of the UK’s small energy suppliers may be left to fail this winter as the government’s crisis negotiations focus on safeguarding people rather than bailing out struggling companies. 

Five small operators have gone bankrupt in the previous five weeks, leaving more than 500,000 consumers without a supplier, and industry sources predict that another four may fail before the end of the month, leaving 1 million people stranded.

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Yajush Gupta

Yajush Gupta

Yajush is a journalist at Dynamic Business. He previously worked with Reuters as a business correspondent and holds a postgrad degree in print journalism.

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