‘Grand social experiment’: Australia’s social media ban turns heads globally, with mixed results

Australia's financial regulator has mandated that the HESTA pension fund conduct independent reviews following a significant outage that reportedly harmed its members. This incident has raised concerns about the reliability of the pension fund's operations and its impact on member services.

The Federal Reserve has cut interest rates for the third consecutive meeting, a decision that has sparked significant internal debate among its officials. This contentious move reflects deep divisions within the central bank regarding the future direction of monetary policy, indicating that further reductions in borrowing costs may be limited in the coming year.

The U.S. government has announced plans to require foreign tourists from visa-waiver countries, including Britain and France, to disclose five years of their social media history. This new regulation aims to enhance security measures and ensure transparency regarding the online activities of visitors.

Surro Connections, a surrogacy firm, assured prospective parents that their funds were secure, yet clients have reported losing tens of thousands of dollars intended for compensating surrogate mothers. The sudden disappearance of these funds has raised significant concerns among those who entrusted the company with their financial resources.

Midpriced steakhouses and fine-dining establishments, including Halls Chophouse in Charleston, S.C., are grappling with soaring beef prices, which are impacting their operational costs similarly to grocery consumers. Restaurants are in a 'Code Red' mode as they seek solutions to manage these rising expenses without deterring customers.

The United States has proposed a new requirement for social media disclosure for visitors from visa-free countries, including the UK, France, and Australia. This change aims to enhance security measures and transparency regarding the online activities of foreign nationals entering the US.

Australia has enacted a landmark ban on social media access for individuals under the age of 16, effective December 10, 2025. This legislation aims to protect minors from the negative impacts of social media, including cyberbullying and exposure to harmful content. Tech entrepreneur Jess Butcher of ScrollAware supports this move, citing the significant harms caused by these platforms and the lack of meaningful action from tech companies.

Wall Street is currently experiencing a complex dynamic as fears of an artificial intelligence (A.I.) bubble resurface, reminiscent of the dot-com boom. Despite some A.I. companies reaching high valuations, investors are hesitant to withdraw from the market, concerned about missing future gains.