ACTU secretary proposes reforms to negative gearing tax breaks
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News.com.au
10 minutes ago
- News.com.au
Hyundai Ioniq 9 electric car review
Are electric car customers blind to badges? Hyundai hopes so, having launched its most expensive car in the huge and hugely equipped Ioniq 9 electric SUV. This battery-powered luxury wagon delivers luxury to match a six-figure price tag a world away from its discount roots. Don Romano, a Canadian executive recently placed in charge of Hyundai in Australia, reckons EV customers are more likely to judge a car on its merits and weigh up whether it's right for them, rather than getting lost in the baggage of brands and their history. 'If we look at how consumers are buying electric cars, they're not traditionally following your 'mainstream' or your 'premium' mindset,' he says. 'They're looking at the price point, their requirements, and what they can find in that space. 'Sometimes that's a brand like Hyundai or Kia, sometimes that'll be your traditional more luxury oriented buyers.' That's the big question surrounding the Ioniq 9. Do customers want to pay $119,750 plus options and on-road costs (about $130,000 drive-away) for a lavishly appointed electric SUV? And if they are, will it be a Hyundai? It's a tough question. The Ioniq 9 is a slightly larger cousin to Kia's critically acclaimed but slow-selling EV9. That car, priced from $97,000-$121,000 plus on-roads is outsold more than 30 to one by the combustion-powered Kia Sorento that starts from $50,880 plus on-road costs. There aren't many big electric SUVs on the road. Hyundai's contender sits just $5000 underneath one of the best in Volvo's EX90. It's a tough sell until you start delving into the details. Hyundai's machine is available in one fully-loaded spec with heated and cooled Nappa leather seats, a panoramic sunroof and a subtly curved digital display that arcs around the driver. It makes a strong first impression, particularly when finished in lighter colours that look amazing in a brochure, but might not wear well with years of family use. Bluff exterior dimensions anchored by 'parametric pixel' lights and 21-inch alloys join tech such as the ability to issue temporary keys to the smartphones of friends and family members. A neighbour could have access for a few minutes to shift your car out of the way of their boat, or a teenager might pop back to the car to pick up an umbrella they left behind, without needing a conventional key. A 14-speaker Bose stereo has clever noise-cancelling technology similar to headphones preferred by frequent flyers, and noise suppression is helped by double laminated glass, three layers of padding in the wheel wells and special sound absorbing pads inside the tyres. So yes, there are plenty of touches to justify its price. But Hyundai hasn't thrown the kitchen sink at the car. It misses out on tech found on prestige rivals, such as rear-wheel-steering, active roll bars, air suspension and adaptive shock absorbers that make big cars easier to manoeuvre. As a result, the Ioniq 9 always feels big and heavy in the bends – more like a LandCruiser than a Lexus. There's noticeable body roll, and the ride occasionally feels a touch too firm on bumpy roads. That said, there is always power in reserve, thanks to twin electric motors that send 314kW and 700Nm to the tyres. That's more than enough for a car this size. The battery capacity is similarly generous, with 110.3kWh of storage that translates to 600 kilometres of claimed range. Find a fast charger and it will need just 24 minutes to go from 10 to 80 per cent charge. Sure, it might take four days to top up using a conventional household power point, but that's a bit like refining crude oil into petrol at home. The EV faithful don't do that. Hyundai's boss won't say how many the brand aims to sell, and that 'we're going to see how many people are willing to pay the additional price to go electric'. 'What I found is people that go electric seldom go back,' Romano says. 'There's a lot of people now that have been in electric [cars] for some time that are graduating to higher levels and I think those are the customers that we're going to hopefully bring into the fold.'
News.com.au
36 minutes ago
- News.com.au
Optus sued over 2022 data breach that exposed data of 9.5m people
Optus is being sued for allegedly failing to protect the data of 9.5 million people. The Australian Information Commissioner announced on Friday it was launching the legal action. The case stems from a data breach in September 2022. The Information Commissioner will argue Optus failed to adequately manage cybersecurity and information security risk. 'Organisations hold personal information within legal requirements and based upon trust,' commissioner Elizabeth Tydd said. 'The Australian community should have confidence that organisations will act accordingly, and if they don't, the OAIC as regulator will act to secure those rights.' An Optus spokesperson said the company would 'consider the matters raised in the proceedings and will respond to the claims made by the AIC in due course'. 'Optus apologises again to our customers and the broader community that the 2022 cyber attack occurred,' the spokesperson said. 'We strive every day to protect our customers' information and have been working hard to minimise any impact the cyber attack may have had.' Optus would keep investing in security, the spokesperson said, and the cyber threat environment was evolving. 'As the matter is now before the Australian courts, Optus will not be commenting further at this time,' they said. Australian Privacy Commissioner Carly Kind said strong data governance and security needed to be embedded in organisations. 'To guard against vulnerabilities that threat actors will be ready to exploit,' Ms Kind said. The lawsuit alleges that from on, or around October 17, 2019 to September 20, 2022, Optus seriously interfered with the privacy of about 9.5 million Australians by failing to take reasonable steps to protect their personal information from misuse, interference and loss, and from unauthorised access, modification or disclosure. The case is being pursued as an alleged breach of the Privacy Act 1988. The Information Commission alleges Optus failed to adequately manage cybersecurity and information security risk in a manner commensurate with the nature and volume of personal information that Optus held, the company's size and its risk profile.
News.com.au
an hour ago
- News.com.au
Labor vows to ‘fight' as Trump threatens pharma tariffs
The Albanese government is vowing to 'fight for the PBS' as Donald Trump tries to strongarm drugmakers into moving production to the US. The Pharmaceutical Benefits Scheme (PBS) is a list of federally subsidised medicines and a prized Labor invention. Health Minister Mark Butler last month introduced legislation that, if passed, would cap PBS-listed medicines at $25 from January 1, 2026. Aside from subsidising medicines, the scheme also compels firms to negotiate prices with the federal government, which helps keep products affordable. Celebrated as a cornerstone of the healthcare system in Canberra, the scheme is denounced by pharmaceutical lobbyists in Washington, who claim Australia is 'freeloading on American innovation'. One group, Pharmaceutical Research and Manufacturers of America (PhRMA), has explicitly urged the Trump administration to 'leverage ongoing trade negotiations' to influence Australia's PBS policies. But Anthony Albanese, Mr Butler and other ministers have ruled out budging on the PBS. 'We'll fight for our PBS and fight for the jobs of Australian manufacturers here,' Mr Butler told the ABC on Friday, noting most production is in Melbourne. Pharmaceutical exports to the US totalled north of $2bn in 2024, making it the biggest foreign market for Australian producers. Exports are mostly blood products and vaccines but also include packaged medicines and miscellaneous medical items, such as bandages. Though, as Mr Butler noted, the US still exported more to Australia and did so without tariffs. 'We have zero tariffs on those imports that we take from America companies,' he said. 'We're making the case that should continue in reverse. 'We should be able to continue to export our terrific blood and plasma products and medicines to Americans without what might be a 250 per cent tariff.' For the moment, Mr Trump's concern with the sector appears to be largely driven by bringing down prices in the US rather than punishing allies for having cheaper medicines. Last week, he wrote to 17 major pharmaceutical companies demanding they lower their prices for American consumers to bring them in line with prices overseas. A Rand Corporation report found that Americans pay nearly four times more than Australians for medicines and about three times more than the average in other developed economies. The answer, according to Mr Trump, is making pharmaceuticals in the US. Mr Trump's 250 per cent tariff threat was a warning shot to firms, but one that, if realised, would hit producers Down Under hard.
