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The Modi government is getting rid of RS500 and RS1,000 notes to try and combat the black market and corruption. STR/EPA

Business Briefing: Former chief World Bank economist on inequality and doing away with big money

Business Briefing: Former chief World Bank economist on inequality and doing away with big money The Conversation22.3 MB (download)
A former chief economist to the World Bank and economic adviser to the Indian government says doing away with big currency notes is a noble idea but an ineffective tool.
The ACCC has blocked the big four banks from bargaining with Apple for more control over Apple Pay. Damir Sagolj/Reuters

ACCC rejects the banks colluding to bargain on Apple Pay

The banks could have used their collective bargaining power not only against Apple for Apple Pay but also stall the adoption of mobile payments in Australia.
The government has changed the rules so that another foreign investor can replace one who has pulled out of buying an off-the-plan dwelling. Mick Tsikas/AAP

Changes for off-the-plan foreign buyers rely on a broken supply argument

The government says its changes to foreign investment will increase housing supply and make it more affordable, but that’s relying on narrow and possibly incorrect assumptions about investors.
“Cooling-off” periods for purchases made in high-pressure selling situations like door-to-door sales don’t help consumers, research shows. image from shutterstock.com

Cooling-off periods for consumers don’t work: study

Customers who make purchases under pressure don’t use the usual 10-day cooling-off period given under law, new research finds.
The problem with the current rezoning approach is that it leads to huge windfall profits and developments aimed at the upper end of the market. AAP

Sydney needs higher affordable housing targets

The community needs affordable housing and that requires meaningful targets for new developments. The only ones who will lose out are landholders who make windfall profits from rezoning.
A hiker perched at the top of Tasmania’s Tarkine wilderness. AAP Image/ Jenny Archer

There’s hope for Tasmania in the post-mining boom era

the end of the mining boom has breathed new life into parts of the Tasmanian economy. But there are also several worrying indicators – like population growth and unemployment – to be addressed.
Commonwealth Bank of Australia CEO Ian Narev attends the parliamentary inquiry into the banking system. AAP Image/Lukas Coch

Business Briefing: fixing culture in banking and finance

Business Briefing: fixing culture in banking and finance The Conversation19.7 MB (download)
"Banking culture" has drawn a lot of scrutiny this year, after several high-profile scandals. But Professor Paul Kofman says there isn't much evidence for how to intervene if there's a problem.