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Mercury
07-07-2025
- Mercury
Update on Qantas frequent flyers data hack
Don't miss out on the headlines from Business Breaking News. Followed categories will be added to My News. Qantas says it has been contacted by a group claiming to be behind the theft of the data of millions of its frequent flyers last week, The airline said in a statement late on Monday that 'a potential cybercriminal has made contact' but it would not disclose if a ransom was being sought. 'As this is a criminal matter, we have engaged the Australian Federal Police and won't be commenting any further on the detail of the contact,' a Qantas spokesman said. Qantas said it was working with cybersecurity experts 'to validate' the authenticity of the communication. 'There is no evidence that any personal data stolen from Qantas has been released but, with the support of specialist cybersecurity experts, we continue to actively monitor,' the airline said. Chief executive Vanessa Hudson said on Friday Qantas was working with authorities to resolve the matter, Picture: NewsWire / Luis Enrique Ascui The airline confirmed last Wednesday that a cyber attack occurred in one of its Filipino call centres, and customers' names, dates of birth, emails, and frequent flyer numbers were stolen. Other personal information such as credit card, passport, and financial details were not stored in those centres, Qantas has said. In an update released on Friday morning, Qantas said about six million customers had been impacted but that the airline's system 'remains secure'. We have also increased resourcing in our contact centres to support our customers and have received more than 5000 inquiries through our dedicated customer support line established following the cyber incident.' The airline issued an email to customers on Wednesday, in which Ms Hudson told those affected they did not need to change their passwords. 'I want to reassure our Qantas Frequent Flyers that there's no requirement to reset your password or pin,' she said. 'If you're having trouble accessing your account, reset your password or call the Qantas Frequent Flyer Service Centre.' Affected customers can contact Qantas' support line on 1800 971 541 or +61 2 8028 0534. In an update on Friday, the Australian Federal Police said Qantas had been 'highly engaged' with the authorities investigating the breach. Originally published as Qantas says it has been contacted by a group claiming to have stolen data of its frequent flyers
Herald Sun
23-06-2025
- Business
- Herald Sun
US strikes on Iran spook ASX as crude oil price soars
Don't miss out on the headlines from Business Breaking News. Followed categories will be added to My News. Oil prices have surged as the rest of the market wobbled on Monday morning, with the ASX 200 suffering a 'very nervous start' to the trading week. The ASX 200 fell 44.30 points or 0.52 per cent to 8461.20 on the opening bells as investors weighed up the risks in the Middle East. The Aussie dollar also slumped, falling from US64.94 cents to US64.48 as the tension escalates. Investors are worried about two major potential escalations in the conflict, with either the closure of the Strait of Hormuz or an all-out regional war negatively impacting the price of oil. Cutting off the Strait of Hormuz could send the price of oil above $US100 a barrel, as the 32km mile stretch is the primary route of exports from Saudi Arabia, Iraq, the UAE, and Kuwait. Nervous investors are selling down the ASX on fears of Iran-Israel conflict. Picture NewsWire/ Gaye Gerard. senior financial market analyst Kyle Rodda said traders would be looking to gauge risks of energy shocks and the potential impact of the broader conflict. 'The markets are confronting a very nervous start to the week where the only thing that will matter is the fallout from the US missile strike on Iranian nuclear assets over the weekend,' Mr Rodda said. 'There's already some talk of (closing the Strait of Hormuz) from the Iranians, with the instability in the region and risks to critical infrastructure alone enough to worry energy markets.' US Secretary of State Marco Rubio said closing the crucial Strait of Hormuz would be a 'suicidal' move to the Iranian regime. Mr Rubio said closing the strait would affect the US, but it would have 'a lot more impact on the rest of the world', particularly on China. 'That would be a suicidal move on (Iran's) part because I think the whole world would come against them if they did that,' Mr Rubio said. On Saturday (Sunday AEST), US forces confirmed strikes on three Iranian nuclear facilities in the latest flair up between Israel and Iran. US President Donald Trump said the three nuclear sites in Iran – Fordow, Isfahan and Natanz – were 'completely obliterated' but this is yet to be independently verified. The ASX has fallen on Iran-Israel tensions. Picture NewsWire/ Gaye Gerard. The armed conflict sent the price of Brent crude oil surging to above $US80 a barrel after it was about $US65 a barrel. Mr Rodda said the first move by markets would be a possible kneejerk, with traders taking a shoot-first-ask-questions-later approach. 'But as the dust settles and more of the facts become known – especially the extent of the damage achieved by the US – the markets will turn to gaming out the likely course of events from here and quantifying the risks to asset prices,' he said. Originally published as ASX falls on 'very nervous start' to Monday's trading after US strikes Iran
Mercury
23-06-2025
- Business
- Mercury
US strikes on Iran spook ASX as crude oil price soars
Don't miss out on the headlines from Business Breaking News. Followed categories will be added to My News. Oil prices have surged as the rest of the market wobbled on Monday morning, with the ASX 200 suffering a 'very nervous start' to the trading week. The ASX 200 fell 44.30 points or 0.52 per cent to 8461.20 on the opening bells as investors weighed up the risks in the Middle East. The Aussie dollar also slumped, falling from US64.94 cents to US64.48 as the tension escalates. Investors are worried about two major potential escalations in the conflict, with either the closure of the Strait of Hormuz or an all-out regional war negatively impacting the price of oil. Cutting off the Strait of Hormuz could send the price of oil above $US100 a barrel, as the 32km mile stretch is the primary route of exports from Saudi Arabia, Iraq, the UAE, and Kuwait. Nervous investors are selling down the ASX on fears of Iran-Israel conflict. Picture NewsWire/ Gaye Gerard. senior financial market analyst Kyle Rodda said traders would be looking to gauge risks of energy shocks and the potential impact of the broader conflict. 'The markets are confronting a very nervous start to the week where the only thing that will matter is the fallout from the US missile strike on Iranian nuclear assets over the weekend,' Mr Rodda said. 'There's already some talk of (closing the Strait of Hormuz) from the Iranians, with the instability in the region and risks to critical infrastructure alone enough to worry energy markets.' US Secretary of State Marco Rubio said closing the crucial Strait of Hormuz would be a 'suicidal' move to the Iranian regime. Mr Rubio said closing the strait would affect the US, but it would have 'a lot more impact on the rest of the world', particularly on China. 'That would be a suicidal move on (Iran's) part because I think the whole world would come against them if they did that,' Mr Rubio said. On Saturday (Sunday AEST), US forces confirmed strikes on three Iranian nuclear facilities in the latest flair up between Israel and Iran. US President Donald Trump said the three nuclear sites in Iran – Fordow, Isfahan and Natanz – were 'completely obliterated' but this is yet to be independently verified. The ASX has fallen on Iran-Israel tensions. Picture NewsWire/ Gaye Gerard. The armed conflict sent the price of Brent crude oil surging to above $US80 a barrel after it was about $US65 a barrel. Mr Rodda said the first move by markets would be a possible kneejerk, with traders taking a shoot-first-ask-questions-later approach. 'But as the dust settles and more of the facts become known – especially the extent of the damage achieved by the US – the markets will turn to gaming out the likely course of events from here and quantifying the risks to asset prices,' he said. Originally published as ASX falls on 'very nervous start' to Monday's trading after US strikes Iran
Herald Sun
10-06-2025
- Business
- Herald Sun
Aussie consumers warned over ‘dangerous' wage advancing pay trend
Don't miss out on the headlines from Business Breaking News. Followed categories will be added to My News. Australian consumers have been warned about a 'dangerous' new financial product sending struggling people into debt spirals, and consumer advocates say urgent regulation is needed. Wage advance services are advertised as offering a quick and easy way to borrow money before your payday, some offering the advances within a minute. The products are under no obligation to assess a person's ability to service the debt or to give financial hardship assistance. This has led to a chorus of consumer advocacy groups to call on the Albanese government to urgently regulate the services that they say make the cost-of-living crisis worse and are sending thousands into dangerous debt spirals. Consumer Action Law Centre chief Stephanie Tonkin said she had heard from people who had taken multiple wage advance contracts and had ended up committing their whole income to repaying the loans. 'These products encourage people to borrow against their future income to meet their essential living needs, and this can cause serious harm when there's no extra money in the next pay cycle, only greater debt,' Ms Tonkin said. 'The fees add up very quickly if you're stuck in a cycle of borrowing now to pay more later.' This fresh warning comes as buy now, pay later (BNPL) products are brought under the National Consumer Credit Protection Act, a long-time campaign goal for consumer advocacy groups. 'We want wage advance brought under the Credit Act as a priority to give people the same consumer protections as BNPL,' Ms Tonkin said. 'It's taken years for BNPL to be regulated – we can't wait that long again.' Consumer Credit Legal Service principal solicitor Roberta Grealish likened the proliferation of this type of financial product to a game of 'whack a mole'. 'Wage advance products now need to be brought within the Credit Act to prevent the harms that the new BNPL rules hope to address simply shifting into this space,' Ms Grealish said. Choice campaigns director Rosie Thomas said the work to close 'lending loopholes' was not yet finished. 'Consumers will continue to be harmed until wage advance is also regulated as credit,' she said. Originally published as Consumer advocates warn Aussies about 'dangerous' wage advancing products and call for further regulation
