Business

Lex in-depth: Does Uber deserve its US$91 billion valuation?

Low prices made Uber into a global sensation. Now they threaten its future. Cheap fares kept the ride-hailing app on the road through its worst years, despite accusations of aggressive rule-breaking, a belligerent founder and friction with drivers. But as the financial credibility of its disruptive business model is wearing thin, the era of Silicon […]

World News

Level 3 is imminent for parts of NZ – but what does it actually change?

Millions of Kiwis are waiting on tenterhooks for this afternoon’s announcement about whether their region will be released from the Covid-19 national lockdown. But if areas free of community cases of the deadly and swift-moving Delta variant do have their restrictions loosened – will life actually change much? The answer is, not really. Under the […]

Business

How much energy does Bitcoin actually consume?

According to the Cambridge Center for Alternative Finance, Bitcoin currently consumes around 110 terawatt-hours per year, accounting for 0.55 per cent of global electricity production and roughly equivalent to the annual energy draw of small countries like Malaysia or Sweden. This sounds like a lot of energy. But how much energy should a monetary system […]

Business

Australian media company does deal with Google, Facebook; Govt closes in on ‘significant’ media pay day

Seven West Media has become the largest Australian news media business to strike a deal with Google to pay for journalism in a partnership announced on Monday before the nation’s Parliament considers draft laws to force digital giants to pay for news. Google and the publicly listed broadcast television, print and online publishing company jointly […]

World News

What does China's national security law for Hong Kong say?

The new law will ban subversion, secession, terrorism and collusion with foreign forces in Hong Kong. A new Hong Kong security law came into effect on Wednesday that will punish crimes of secession, subversion, terrorism and collusion with foreign forces with up to life in prison, heralding a more authoritarian era for China’s freest city. […]