Good morning. We’re almost to the end of the week. Let’s get into the tech news.
1. TPG establishes First Nations council
TPG Telecom has formed a First Nations External Advisory Circle, to provide guidance on matters relating to Aboriginal and Torres Strait Islander Australia, and to make efforts towards reconciliation.
The group is made up of four external First Nations leaders and two representatives from TPG, with the goal of providing recommendations to TPG on providing positive outcomes for First Nations peoples.
“The Advisory Circle will provide an important guiding voice for our reconciliation efforts, allowing us to draw upon the experience and perspectives of First Nations peoples as we deliver our Innovate Reconciliation Action Plan,” TPG Telecom head of sustainability and member of the Advisory Circle Ian Lilley said.
2. ACCC issues penalties over battery rules
The ACCC has issued penalties to TEEG Australia (the operator of Timezone, Kingpin, and Zone Bowling) and novelty toymaker MDI International for failing to comply with button battery testing requirements.
Fines of $49,500 have been paid by both companies, after the ACCC issued three infringement notices to the companies, relating to the ‘World’s Smallest Alarm Clock’, the ‘Pocket Fart Gun’, and the ‘Sonic Spinner’.
“Button batteries are incredibly dangerous for young children and tragically in some cases have led to serious injuries or death when swallowed, inserted or ingested,” ACCC Acting Chair Catriona Lowe said.
“We encourage consumers to check for unsafe button battery products in their homes and take steps to secure them to keep them safe for young children.”
3. Hot water on nuclear costs
The Guardian has a great explainer, detailing that, according to the experts, there’s no credible reason as to why the Opposition’s nuclear plans would provide cheaper power to Australians. “There’s nothing in what we’ve seen so far that would substantiate the claims that it’s going to be a certain price at a certain time,” The Grattan Institute’s energy and climate change program director Tony Wood said. “There’s nothing in what we’ve seen so far that would substantiate the claims that it’s going to be a certain price at a certain time.”
4. Nvidia overtakes Microsoft
Nvidia reached a market cap of $3.3 trillion yesterday, overtaking Microsoft as the world’s most valuable company, per Reuters. The high stock price is down to Nvidia’s rallying to the crypto bubble, being one of the leading suppliers of components to companies building AI tech out at scale.
5. Meta plays the classics
Meta has laid off “a relatively small number” of the employees under its Reality Labs subsidiary, per The Verge, with the subsidiary now focusing on two distinct categories. Going forward, there’s the augmented reality splint, which will focus on the Quest product range, and the ‘wearables’ category, which will focus on produces like the smart glasses it released in tandem with Rayban.
BONUS ITEM: Yesterday was a trainwreck.
If you don’t know… @theage pic.twitter.com/k2Tgfo5hhm
— MattGolding Cartoons (@GoldingCartoons) June 19, 2024
Have a lovely day.
Image: iStock.