Breaking News, Business, Financial and Economic News, World News from EconoTimes

Become a contributor

Bookmark Econotimes

Wed, Apr 24, 2024 10:23 PM All times are UTC

Follow Series

©Econometrics LLC . All Rights Reserved.

Steve Worthington

Steve Worthington is an Adjunct Professor at Swinburne University. He was previously Professor of Marketing at Monash University's Department of Marketing from 2002 to 2013, prior to which he worked at several universities in the United Kingdom and in executive roles at a UK bank and UK supermarket group. At Monash, Steve taught Strategic Marketing in the MBA program and Relationship Marketing and Marketing Financial Services in the Master of Marketing program.

His research interests are focused on the distribution of financial services, particularly through the channel of payment cards. These topics are of interest to both academics and practitioners. His paper Banking without the Bank, International Journal of Bank Marketing was ranked 12th highest downloaded article in 2012 (was 2nd most downloaded in 2011) and remains the 4th highest in terms of immediacy. This focused on the opportunities and challenges facing new entrants into the financial services market, particularly from brands such as Tesco Bank and Virgin Money. Steve is a member of the Financial Services Institute of Australasia and of the Academic Standards Board of the International Academy of Retail Banking. He is also an associate of the Australian Centre for Financial Studies (ACFS) for whom he wrote a paper entitled, Regulatory Interventions and their Consequences in the Australian Payment Card System, which was published in October 2013.

The ATM celebrates 50 years but we're using it less

Jun 27, 2017 03:04 am UTC| Insights & Views Technology

As the Automatic Teller Machine (ATM) celebrates its 50th birthday, its actually being used less and less to withdraw cash in Australia. There are currently more than 32,000 ATMs across Australia and cash withdrawals in...

Apple Pay may have won the battle but it may not win the war

Apr 06, 2017 07:33 am UTC| Insights & Views Law Technology

The Australian Competition and Consumer Commissions (ACCC) decision to deny some of Australias major banks the ability to collectively bargain with Apple and boycott Apple Pay, might have opened a whole new door for...

Apple Pay dispute may mean less opportunity to pay with your mobile

Oct 19, 2016 07:05 am UTC| Technology Life

As people increasingly reach for their phone to pay for goods in Australia, existing players in the contactless payment industry are trying to seek competitive advantage. Four of Australias leading banks are trying to...

Australian small businesses could be stretched by changes to commercial credit cards

Sep 02, 2016 06:41 am UTC| Insights & Views Business Central Banks

Small to medium enterprises (SME) are increasingly relying on commercial credit cards to finance their operations, because payment terms for the businesses they supply are stretching out. But if the Reserve Bank of...

Mobile payments and tap and go might not mean the end for tellers

Aug 03, 2016 06:03 am UTC| Insights & Views Technology

Consumers are drawing out less cash and using other methods to pay for things such as contactless payments, but this doesnt necessarily signal the end of bank tellers or their automated counterparts. There is...

Apple Pay no sure thing in mobile payments race

May 02, 2016 01:19 am UTC| Insights & Views Technology

When tech giant Apple announced its second quarter earnings of A$14 billion last week, it gave a limited glimpse into its mobile payments service Apple Pay. The service is gaining one million users per week, but not...

Negative Rates Series

Negative interest rates – are there any positives?

Mar 28, 2016 01:27 am UTC| Insights & Views Central Banks

Some say that economics is the dismal science and perhaps this is because many economic theories do not seem to work in practice. One contemporary example is negative interest rates, where instead of interest being added...

1 2

Economy

The yen plunges to 34-year low despite interest rate hike

The Bank of Japan (BoJ) raised interest rates for the first time in 17 years on March 19, bringing an era of negative interest rates to an end. The key rate was hiked from 0.1% to a band from zero to 0.1% a token effort...

The idea that US interest rates will stay higher for longer is probably wrong

The 0.4% rise in US consumer prices in March didnt look like headline news. It was the same as the February increase, and the year-on-year rise of 3.5% is still sharply down from 5% a year ago. All the same, this modest...

Impact of Iran-Israel conflict on Stocks, Gold and Bitcoin

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation,...

Japan Posts 7.7% Growth in Machinery Orders

In a striking development that looks set to invigorate Japans economic prospects, a key gauge of capital spending in the country has seen its most significant jump in over a year. According to Cabinet Office data released...

Why Africa can be the beating heart of South Korea’s technology industry

Tshepo Ncube, Head: International Coverage and Bhavtik Vallabhjee, Head: Power, Utilities Infrastructure at Absa CIB reflect on their recent visit to South Korea, examining why investors in the region have their eyes set...

Politics

US Commerce Secretary Asserts Huawei Chip Lag, Affirms Export Control Success

In an interview on CBS News 60 Minutes, Commerce Secretary Gina Raimondo stated that the latest Huawei Mate 60 Pro phones chip remains significantly behind U.S. technology despite being the most advanced from China. She...

The Alberta government is interfering in public sector bargaining on an unprecedented scale

In the coming months, over 200,000 public sector workers in Alberta will begin bargaining with their employers for new contracts. The most recent agreements expired in March and, after many years of high inflation and few...

Putin’s Russia: first arrests under new anti-LGBT laws mark new era of repression

Just over three decades after Russia decriminalised homosexuality in 1993, three people have been arrested and charged under the countrys harsh new anti-LGBT laws and could face ten years in prison for membership of an...

Nvidia RTX 4090D Embroiled in US-China Tech Rivalry; South Korea Navigates Chip Export Dilemma

The U.S. government has tightened export restrictions on high-performance semiconductor chips to China, including the Nvidia RTX 4090D, and is urging South Korea to enforce similar curbs, marking a significant escalation...

Canada needs a national strategy for homeless refugee claimants

One year after the federal government closed Roxham Road, refugee claims in Canada continue to increase: there were 143,785 in 2023 compared to 91,730 in 2022. The surprise announcement in March 2023 to modify Canadas...

Science

Peter Higgs was one of the greats of particle physics. He transformed what we know about the building blocks of the universe

Peter Higgs, who gave his name to the subatomic particle known as the Higgs boson, has died aged 94. He was always a modest man, especially when considering that he was one of the greats of particle physics the area of...

Could a telescope ever see the beginning of time? An astronomer explains

The James Webb Space Telescope, or JWST for short, is one of the most advanced telescopes ever built. Planning for JWST began over 25 years ago, and construction efforts spanned over a decade. It was launched into space on...

US media coverage of new science less likely to mention researchers with African and East Asian names

When one Chinese national recently petitioned the U.S. Citizenship and Immigration Services to become a permanent resident, he thought his chances were pretty good. As an accomplished biologist, he figured that news...

If life exists on Jupiter’s moon Europa, scientists might soon be able to detect it

Europa is one of the largest of more than 90 moons in orbit around the planet Jupiter. It is also one of the best places to look for alien life. Often termed an ocean world by scientists, observations to date strongly...

Exploding stars are rare but emit torrents of radiation − if one happened close enough to Earth, it could threaten life on the planet

Stars like the Sun are remarkably constant. They vary in brightness by only 0.1% over years and decades, thanks to the fusion of hydrogen into helium that powers them. This process will keep the Sun shining steadily for...

Technology

Critical Update: Samsung Expands Network Band Support in Europe – Update Now for Uninterrupted Access

This week, Samsung has launched a vital software update across European markets, targeting various devices, including the Galaxy S24 and Z Flip 5. This update is critical for maintaining network connectivity and accessing...

Shiba Inu's Burn Rate Surges 2200%, Fuels Bullish Sentiment and Speculation on Future Price Gains

Shiba Inu (SHIB), a well-known meme coin rumored to be the self-proclaimed Dogecoin killer, sparked unbridled jubilation among crypto market traders and investors today, as its burn rate increased by around 2200%. This...

Robinhood Unveils SHIB, AVAX, and COMP Listings for New York Traders, Expanding Crypto Access

Robinhood has expanded its cryptocurrency offerings to New York residents, now including popular tokens like Shiba Inu (SHIB), Avalanche (AVAX), and Compound (COMP), enhancing trading options on its platform. Robinhood...

Hong Kong's First Bitcoin and Ether ETFs Set to Begin Trading April 30, Official Approval Granted

Hong Kongs Securities and Futures Commission has officially approved the first spot Bitcoin and Ether ETFs, which will begin trading on April 30. This marks a significant milestone in the citys cryptocurrency market...

Tesla Nears FSD Licensing Deal with Major Automaker, Hits 1.3 Billion Milestone

In Teslas latest quarterly update, CEO Elon Musk disclosed ongoing Full Self-Driving (FSD) licensing negotiations with a major automaker, noting the significant engagement from FSD users who have now surpassed 1.3 billion...