Julia Gillard has attacked Australia’s banks, accusing them of undermining the economic recovery with interest rate rises.
The Prime Minister said that the government shared “community concern and anger” over rate rises, while treasurer Wayne Swan said that all nations, including Australia, should do more to create competition in the banking sector.
Australians flocking online
Home broadband use and online shopping is taking off in Australia, according to a new study by the Australian Communications and Media Authority. Nearly eight in 10 Australians aged 14 and over have access to the internet at home, with the popularity of websites such as Facebook and eBay driving an increase in overall online usage.
Telstra CEO plays mystery shopper
Telstra CEO David Thodey has revealed that he’s acted as a ‘mystery shopper’ at the telco, admitting that he has been “greatly disappointed” by the service he’s received.
Thodey has promised to overhaul Telstra’s dire customer service reputation, although his opposite number at Optus, Paul O’Sullivan, has dismissed Telstra’s attempts to reform its image.
Overnight
The Australian dollar dipped below parity with the US dollar for the first time this week, falling to 99.7 US cents overnight.
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