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Australia news live: X complies with social media ban as apps not included surge on Apple charts | Australia news

X complies with social media ban

Josh Taylor

The last hold-out, Elon Musk’s X platform, has said it is complying with Australia’s under-16s social media ban.

The company’s Australian regulations page updated overnight says users in Australia must be at least 16 years old to hold an account.

It’s not our choice – it’s what the Australian law requires.

X is taking a “multi-faceted approach” to age assurance, using signals to determine account age, such as self-attested age, ID verification, legacy verified users, if the account was created in 2014 or earlier, or those with grey or gold badged accounts.

Without those signals, X said it would use email addresses to estimate age or otherwise check government ID. The platform says after the ID checks, the data is destroyed within 31 days.

X’s compliance means all 10 platforms initially named in the ban – Facebook, Instagram, Threads, TikTok, Snapchat, YouTube, X, Reddit, Twitch and Kick – are complying with the ban.

The X headquarters in San Francisco
The X headquarters in San Francisco. Photograph: Anadolu/Anadolu Agency/Getty Images
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Financial markets predict RBA rate hike by June

Patrick Commins

Patrick Commins

Financial markets are now betting the Reserve Bank will hike rates by the middle of next year, after the central bank board yesterday flagged it may have to act to subdue a rebound in inflation.

Traders are pricing in a nearly 30% chance a hike could come as early as the next RBA board meeting in February, and have almost completely factored in two hikes by the end of 2026.

Michele Bullock, the RBA governor, effectively ruled out further rate relief, saying “the question is, is it just an extended hold from here or is it possibility of a rate rise?”.

Not all economists are convinced the next move is up, however.

Westpac’s chief economist, Luci Ellis, is still predicting two rate cuts in the second half of next year.

A graph showing predictions for a series of rate hikes next year

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