‘Huge bang’: Crane tumbles into Sydney Harbour

A CRANE has toppled into Sydney Harbour before flicking the iconic amusement Luna Park in the face, as witnesses describe hearing a “huge bang”.

“I looked up and there was this huge wave of sea spray caused by the crane crashing into the water” said charter boat owner Luke Feledy.

“The bang was like this massive crack sound and I am pretty sure something snapped or broke for sure.”

It’s believed the crane was working at a construction site alongside Luna Park when something went “terribly wrong” at the new Milsons Point Ferry Wharf.

No one was operating the crane when it collapsed and no one was injured. The park was also closed at the time of the incident and police are on the scene.

“During work being carried out on the wharf at Milsons Point today on behalf of Roads and Maritime Services, it appears that the collapse of a crane on a barge led to wire being thrown onto the area above the top of the “face” of Luna Park Sydney,” a statement read.

“There appears to be some damage to the face which we are yet to examine. Importantly, no one was hurt in the incident.”

Another witness, Luke Bayly, described how he was sitting on the opposite side of Sydney Harbour when he saw the crane collapse around 1:00pm.

The crane was operating around Milsons Point, on Sydney’s lower north shore.

“It was a huge bang, it startled me, I thought a bomb had gone off,” he told ABC News.

The crane toppled, then later a cable snapped from the submerged crane and flicked the iconic Luna Park amusement in the face.

 

Witnesses say they could hear a loud splash as the giant structure toppled into the water.

“I was sitting on the other side of the harbour,” Mr Bayly said.

“I heard a huge bang. I looked up and I saw the crane splash into the water.”

Workers from Waterway Constructions are currently on the site.

 

Boat owner Daniel Da Silva was in the neighbouring marina in Lavender Bay when he received a call from a mooring tenant shortly after 1pm telling him about the crash.

“I also heard the bang but didn’t know what it was so I jumped in the tender and raced out to see if one of our tenants boats had exploded” said Mr Da Silva.

“We see lots of action in Lavender Bay because of the popular location but in all my years working on the water I have never seen anything like this.

“We have tourists go past that exact location almost daily so we are lucky no one was killed.”

The area around the crane has been secured.

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Logan Lucky: Fun, uncomplicated crime caper

BEFORE you get ahead of yourself with your clever observations, Steven Soderbergh got there first.

Pre-empting the avalanche of comparisons between Logan Lucky (a low-tech heist movie without any fancy people) and Ocean’s Eleven, Soderbergh brazenly calls it out first. Ocean’s Eleven, Hillbilly-style, they say in the film. Or, more accurately, Ocean’s Six, Hillbilly-style

The director of Ocean’s Eleven, Sex, Lies and Videotapes and Erin Brockovich had technically retired after 2013 HBO movie Behind the Candelabra, but he couldn’t resist coming back.

Thank god he did with Logan Lucky because this crime caper is a lot of fun.

Set in bumpkinsville, West Virginia, the Logan siblings have always been dogged by what’s been termed the family curse. Jimmy (Channing Tatum) was a promising footballer destined for the big leagues until he blew out his knee while Clyde (Adam Driver) lost his forearm fighting in Iraq.

Jimmy is laid off from his mining gig when someone from corporate spots his limp (too much liability for the company’s health insurance) and his ex-wife tells him she’s moving his young daughter across the border interstate.

But Jimmy has a plan to turn it around with a heist, governed by 10 rules, including “Don’t get greedy”, “Know when to walk away” and “Sh*t happens”.

The brothers, together with sister Mellie (Riley Keogh), recruits bomb expert Joe Bang (Daniel Craig) who’s still in prison — of course, the Logans insist that won’t be an impediment.

The target? A nearby racetrack hosting NASCAR races, the whitest of American sports, and one that deals with a lot of small cash. The plan could be described as a MacGyver heist involving rubber bands, elbow grease and a little cunning.

These are people that are but shouldn’t be underestimated — “simple” folk trying to make a go of it and being constantly beaten back by the system. There are no slick Clooney-clad tuxedos here, the glitz of high-end casinos or even a smartphone. There is certainly not a $160 million pot of gold.

What there is are John Denver songs, Bob Seger references and perverse children’s beauty pageants. But above all, there is heart.

 

The story here is clean and the characters very charming, and it doesn’t fall into the trap of being smugly pleased with itself by overcomplicating matters (ahem, Ocean’s Twelve).

Craig looks like he’s having a lot more fun than his usual serious, sometimes sullen, persona. There is also a lot of funny involving Seth MacFarlane as the British arsehole owner of an energy drink, and a prison riot demand for unreleased Game of Thrones books.

Tatum, who’s shown a lot more range than his first performances hinted at, is pitch perfect as the kind-hearted and undervalued Jimmy while Driver has yet to put a foot wrong in any role he’s taken on (well, maybe Kylo Ren depending on who you speak to).

Soderbergh is a director who has suffered from inconsistency in his long career but Logan Lucky is the perfect project for his comeback. This is his wheelhouse and even though it follows the formula, it still has some surprises in store.

Rating: 3.5/5
Logan Lucky is in cinemas from Thursday, August 17.

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Trump’s ‘behaviour’ means Aussie dollar goes further in the US

Contrary to many predictions the value of the Australian dollar appears stuck in that US78-80c range when many believed it would be 10-20 per cent lower.

So why is it staying stubbornly high and, as a result, how does that affect your investment strategy?

To put all this in perspective, the long term average of the Australian dollar against the greenback is in the mid to low 70 US cents. At around the current US80c it is above the historic average and many currency gurus are saying take advantage of it while you can, because it won’t last.

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But when that fall back to the historic average comes is anyone’s guess. In the mean time be aware of what drives the value of our currency and when those drivers start to falter you’ll know when that drop is coming.

The Australian dollar is basically being driven by interest rates, commodity prices and the low US dollar.

 

 

Australia has the highest official interest rates in the world, and we have a good stable economy. So when an overseas fund manager is looking at maximising the income returns on their investments, they’re automatically attracted to putting their money here because they get a better interest rate without a big increase in risk.

That means more investment dollars flowing into Australia chasing higher interest rates which, in turn, pushes up the value of the currency.

Overseas investors also see Australia as a giant quarry. We are a trading nation, and a lot of that trade centres around natural resources, such as iron ore, coal, copper, and gold being shipped primarily to China.

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When commodity prices rise, overseas investors see Australian resource stocks as a way of riding the commodity sector and as exposure to a growing China.

Many predicted a lower Australian dollar based around a stronger American economy pushing their interest rates higher which would boost the US dollar.

That started to happen ... then along came Donald Trump as President. As a result of the political and economic uncertainties revolving around his behaviour the Federal Reserve has put future interest rate hikes on hold.

This change to expectations has meant the value of the US dollar has stayed low in value which keeps the Australian dollar higher than expected.

For investors, some advisers are even recommending investing in US dollars and euros themselves because if those currencies appreciate against the Australian dollar, you’ll make a profit based on that.

David Koch says uncertainty around President Trump contributed to a hold on rate hikes.Source:Supplied

For shoppers and travellers, holidays overseas and buying online from overseas means your Aussie currency buys a lot more US dollar and euro purchases.

Imported goods like electricals (how cheap can TVs get), technology and cars have dropped in price while we’re being cushioned at the pump from rising oil prices.

For small business the high value of the Australian dollar means any imported machinery or office equipment is dirt cheap and should be taken advantage of.

But the down side of a high currency is that our exports are less competitive and that can hurt the economy. When the currency drops, our exports will be more competitive and will hopefully help these industries which are battling for survival at the moment.

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From an investment point of view:

Sharemarket:

A high Aussie dollar benefits companies which are big importers like retailers or airlines whose huge petrol bill will reduce in value. Exporters, like the big mining companies, will be disadvantaged.

If the dollar falls then the reverse is true and companies with big overseas operations will benefit when they bring profits back home.

Property:

The biggest impact of a high Australian dollar is that it becomes more expensive for foreign investors to buy here. But those foreign buyers would have been already been affected changes to stamp duty laws and a tightening of finance.

If the currency falls then those foreign buyers could start refocusing here.

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Interest rates on savings accounts fall further

SAVINGS interest rates are being savaged, leaving deposit holders with little or no returns on money parked in the bank.

While mortgage holders have rebelled in the record-low interest rate environment, savers have been continually hit by dismal offerings.

New analysis by financial comparison website Mozo found 10 banks have already cut “at-call” savings rates this financial year.

Their database shows there are now only four providers in the market offering ongoing savings rates of 3
per cent or more, with most deals falling under the two per cent mark.
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Mozo spokeswoman Kirsty Lamont said it remained a tough challenge for deposit holders to get any decent returns on their savings and urged consumers to review the rates on their savings and shop around.

 “A lot of the nation’s savers would be assuming because the cash rate hasn’t moved for over a year now that neither has their savings rate but that’s obviously not the case,’’ she said.
“It’s time for savers to check the interest rate they are currently receiving and if it is under two per cent it’s time to get out there and shop around for a better rate.”
Data from Mozo confirms that the average ongoing savings rate has dropped from 2.05 per cent to 1.82 per cent in the last year.
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Ms Lamont also blamed the nation’s cooling housing market for reducing the need for banks to raise deposits to fund new loans, which has consequently resulted in even less competitive savings interest rates.
Consumer finance expert Lisa Montgomery said mortgage customers are much better off parking excess cash in a home loan offset account to reduce their monthly interest charges instead of keeping money in a cash savings account.

Consumer finance expert Lisa Montgomery said savings account are not always the best place to stash cash.Source:Supplied

“If you have a mortgage you can make a lot more money by putting it in an offset account rather than putting it into a savings account,’’ she said.

“You are not making interest but you are reducing your interest bill.”

Consumers should also beware that many savings accounts come with terms and conditions which the customer must meet to get the highest interest rate available, for example by depositing a certain amount of cash into the account each month.

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FBI reportedly accepts new evidence with possible link to DB Cooper

THE FBI has reportedly accepted new evidence that could be linked to the famous DB Cooper case that has stumped investigators for decades.

The New York Daily News reports unnamed private investigators described the evidence as “an odd piece of buried foam,” which may have been used in Cooper’s parachute.

The evidence was found in a mound of dirt in the deep Pacific Northwest mountains in the US nearly two weeks ago, Fox News reports.

The evidence was turned in Friday to the FBI’s Venture County office by acclaimed Cooper sleuth Tom Colbert, a Los Angeles TV and film producer.

“Well, after six years of gathering information with a 40-member cold case team, I’m ecstatic that they are considering this,” Colbert told Fox News during an interview last week, referring to the FBI.

n 2016, the FBI announced that it was no longer investigating the enduring mystery of the skyjacker known as DB Cooper, nearly 45 years after he vanished out the back of a Boeing 727 into a freezing Northwest rain wearing a business suit, a parachute and a pack with US$200,000 in cash.Calling the investigation one of the longest and most exhaustive in the agency’s history, the FBI Seattle field office said at the time that it was time to focus on other cases.
The agency said it would preserve evidence from the case at its Washington, DC headquarters, but it doesn’t want further tips unless people find parachutes or Cooper’s money.
In 1971, the night before Thanksgiving, a man calling himself Dan Cooper, wearing a black tie and a suit, boarded a Seattle-bound Boeing 727 in Oregon and told a flight attendant he had a bomb in a briefcase. He gave her a note demanding ransom.
After the plane landed he released the 36 passengers in exchange for $200,000 in ransom money and parachutes. The ransom was paid in $20 notes.

Northwest Airlines flight 727 sits on the tarmac at Portland airport after being hijacked by DB Cooper. Picture: Seattle Times/Bruce McKimSource:News Corp Australia

The hijacker then ordered the plane to fly to Mexico, but near the Washington-Oregon border he jumped and was never seen or heard from again.
Nine years later a boy found a rotting package full of $20 notes near the Columbia River on the same border. The $5,800 matched the ransom money serial numbers.
The FBI has never ruled out the possibility that the hijacker was killed in the jump — which took place in a rainstorm at night, in rough wooded terrain. The hijacker’s clothing and footwear were also unsuitable for a rough landing.
Over the years the most lasting image of Cooper, who became somewhat of a legend, may be the two sketches the FBI released of the suspect.
Colbert, who maintains a website, DBCooper.com, and his team of investigators believe DB Cooper is Robert Rackstraw, an army veteran from San Diego with a prior criminal record and had parachute training.

The flight crew address the media to explain what happened during the skyjacking.Source:News Corp Australia

Investigators questioned Rackstraw about the D.B. Cooper case in 1978 and eliminated him as a suspect. Rackstraw has repeatedly denied any involvement in the caper.
The 40th anniversary of the case in 2011 brought a wave of attention. An Oklahoma woman told the FBI about a late uncle who showed up to Thanksgiving dinner in Oregon that year with serious injuries.
A team that included a palaeontologist from Seattle’s Burke Museum announced that particles of pure titanium found in the hijacker’s clip-on tie suggest he worked in the chemical industry or at a company that manufactured titanium.
A book that year, Skyjack: The Hunt for DB Cooper, by Geoffrey Gray, posited several theories, including that Cooper might have been a transgender mechanic from Washington state.
The most promising leads in recent years have come from amateurs, Gray said — including a notion put forth by a scientific illustrator at the University of Chicago that Cooper might have taken his persona from a French comic called Dan Cooper, a series about a test pilot in the Royal Canadian Air Force.
“The fascination with Cooper has survived not because of the FBI investigation, but because he was able to do something that not only captured the public imagination, but also maintained a sense of mystery in the world,” Gray said.
The Associated Press contributed to this report. This article originally appeared on Fox News and was reproduced with permission.

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Top 25 NSW pokies hotels rake in $253m

The state's top 25 pokie pubs, all based in the greater Sydney region, raked in nearly a quarter of a billion dollars in profit in the past financial year, it has been revealed.

Liquor and Gaming NSW published the list of the state's top 25 earners, with the El Cortez Hotel in Fairfield sitting in top place.
Thirteen of the 25 hotels are in the Fairfield and Canterbury/Bankstown region.
The 25 hotels made a total of $253 million in poker machine profit during 2016/17, according to NSW Greens MP Justin Field.
The NSW government anticipates raising more than $100 million in tax from the top 25 hotels, Fairfax Media reports.
Mr Field says the hotels' "mega profits" cause immeasurable harm to families and communities.
"Pokies are highly addictive products," he said in a statement on Tuesday.
"(There are) powerful lobby groups pushing in their favour and covering up their true impacts."
The Greens MP is urging the state government to protect the vulnerable and wants the government to consider $1 bet limits along with an acceleration in the overall reduction in the number of poker machines in NSW.
Fairfield City Mayor Frank Carbone in July called on the NSW government to stop investing in poker machines in his community.

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Opera House reef set to revive harbour

The NSW government announced a three-year project on Tuesday to suspend an imitation reef off Bennelong Point, which will kick off with a count of fish numbers in the water around the iconic landmark later in the year.
Following the survey, the new reef, made up of nine hexagonal shaped modules hanging in the water, will be installed.
Researchers are hopeful the reef will spark positive change.
"Across Sydney Harbour over 50 per cent of the shoreline has been replaced by seawalls to protect infrastructure from storms and erosion," lead researcher UTS Professor of marine ecology David Booth said in a statement on Tuesday.
The artificial reef trialled at the Opera House could help restore natural marine habitats and rebalance biodiversity around the harbour, he said.

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Rural WA kids not eating enough vegetables

Children in remote and regional Western Australia would be happy to eat their vegetables if shops stocked healthy and fresh produce at an affordable price, researchers say.

An Edith Cowan University study found only 13.4 per cent of rural children aged nine to 13 eat enough vegetables despite most parents knowing how to prepare a balanced meal.
Researcher Stephanie Godrich says the number of food outlets, variety, price perception and healthy eating campaigns have the greatest impact on the number of vegetables children report consuming.

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Traditional owners lose Adani challenge

Traditional owners have faced another legal setback in their quest to block Adani's proposed coalmine in central Queensland.

Members of the Wangan and Jagalingou people, who have a native title claim over the proposed site of the Indian giant's mine in the Galilee basin, on Tuesday lost an appeal against an earlier Brisbane Supreme Court ruling that the granting of leases in the area was lawful.
This is the latest in a string of failed legal challenges in various courts from the traditional owners against the mine.

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Qld 90-year-old in line as dad of the year

John Dillon was given one week to live 30 years ago after being diagnosed with cancer but now the active 90-year-old is in the running to become the Queensland father of the year.

The Sunshine Coast father of three and grandfather of eight was orphaned at a young age but committed his life to being a good example to his family and community, leading to him being nominated for this year's award by daughter Sandy Forster.
"Children often become what they see, so it's important for fathers to set a good example and hope their children follow their lead, in my case the opposite happened," he said.
"I had no role model to aspire to as a young boy, but I could see very clearly what I didn't want. I was rewarded by the fact that they grew up to be great children and now adults."
Mr Dillon is up against five other men - Brisbane dad David Harvey, Mackay father Jeremy Lange, John McClure from Logan, Tumoulin's Murray Walmsley and Gold Coast's Larry Green.
The winner will be announced next Thursday in Brisbane

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Microsoft vs. Mac: 5 best new computers compared, from desktop studios to advanced tablets

WHETHER you need a PC or a tablet – or a PC that acts like a tablet – these are the top new machines, including models from Apple and Microsoft.

COMPUTERS now arrive in many different forms. Do you need a touchscreen? A 4K display? Something that doubles as a tablet? Whether you need a desktop beast or something that allows you to put pen to touchscreen, we’ve rounded up five of the latest computers worth investment.

They look alike but there are several reasons to choose Microsoft’s Surface Studio over Apple’s iMac. Its 28-inch screen is not only 4.5K sharp but touch-sensitive, letting you use fingers or an included stylus for finer control. You can also use its Zero Gravity Hinge to position the digital canvas at the most comfortable angle, from drafting table-style to standing tall, and it can feature enough power for the most demanding media-creation tools. The top model offers 32GB RAM and two terabytes of storage.

At first glance at the new Apple iMac looks like it hasn’t changed at all, but the familiar form and shape contains some major upgrades on the inside. When it comes to video editing and gaming, you can expect a performance boost of about 1.5 times and the screen, which now has a maximum brightness of 500 nits, is more than 40 per cent brighter and can display about four times as many colours as the last model.

 This laptop is a stylish traveller. In the looks department, it has a spun metal finish in royal blue, gold accents on its edges, and a gold-hued keyboard. The upwardly mobile are more likely to be impressed by its tiny girth, however, as it’s just 1.29mm thick and weighs 1.1kg, making it marginally too big for a plane seat back but very easy to carry. The ASUS looker powers Windows 10 Pro with up to 16GB RAM and an Intel Core i7 chip, and its 14-inch screen is easy on the eye. There is one omission in this computer, however, and that’s touch-sensitivity. Its slim form means you’ll also need to plug in USB-C connectors only.

 Despite what kids tell you, not every computer has a touchscreen. And, even if they did, it would be tricky to manipulate images with your hand held up to monitor. The solution to that awkward issue is a Wacom Cintiq Pro 16, a 16-inch tablet computer that works with a Mac or Windows computer to give you fine control of whatever is on the screen. This version comes with a 4K display capable of reproducing 94 per cent of the Adobe RGB gamut, an advanced stylus, and USB-C cords to ensure you can connect it to your existing set-up. Wacom fans should note that this model comes without the ExpressKeys and TouchRing shortcuts (you must pay extra for those now) but the back of this tablet does feature two pop-up legs to prop it up at a comfortable angle.

 With a slightly larger form than the 9.7- inch model and smaller bezel on the edges, this has a 20 per cent bigger display, which means the on-screen keyboard and the optional Smart Keyboard now have full-sized keys. The screen has a faster refresh rate, which makes the Apple Pencil easier to use, and a new chip delivers better performance. This is Apple’s best iPad yet and it will improve even more when the new software, iOS 11, arrives later this year.

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iPhone 8 leaker says Apple Touch ID could give way to facial recognition unlock

APPLE fans are in for a a “nasty new surprise” when the iPhone 8 is unveiled, according to a prominent and trusted Apple leakier

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APPLE fans could be in for a what’s been described as a “nasty new surprise” when the iPhone 8 is unveiled.

That’s according to a serial leakier who claims to have access to all the gossip in the supply chain to reveal exactly what’s lies in store.

Gordon Kelly, a Forbes tech whiz, reckons you’ll be using the iPhone 8 very differently to earlier versions.

Kelly claims that Tim Cook has forfeited the Touch ID for a facial recognition unlock system similar to the Samsung Galaxy S8. Previous rumors

have touted the introduction of facial recognition technology in the new iPhone camera but the transition from touch ID would be significant update for Apple fans.

Touch ID has been used to secure the phone since 2015 and is an important feature for Apple payments.

But soon, you might just have to look into the camera to open up your phone and banking apps.

“As it stands most of my sources believe Touch ID will not feature on the iPhone 8 (putting huge pressure on ‘Face ID’), despite suggestions it could be hidden in a curiously enlarged power button,” Kelly reported.

A report published last week from tech-focused equity specialists BlueFin Research Partners has made similar claims.

“It is our belief at this time that fingerprint sensing will NOT be included at launch,” states BlueFin. Though it concedes “we are still grappling with the touch ID/fingerprint sensing situation as we continue to uncover mixed messaging.”

It appears to be backed up by analysts Blue Fin, who stated in a report: “It is our belief at this time that fingerprint sensing will NOT be included at launch”.

There’s been lots of speculation about what the new iPhone might have. Early leaks suggested there would potentially be a Ferrari version of the device, with the super-deluxe device designed to impress.

Analysts have claimed that Apple won’t even call the new gadget the iPhone 8 and it will be instead called the iPhone Pro.

Apple had been expected to release the iPhone 8 in September 2017, in keeping with its annual autumn launch of major new products.

The iPhone 7 was launched on 16 September 2016, so a similar mid-September date seemed most likely.

However, according to the Economic Daily News technical problems mean it could be delayed by weeks due to “technical issues” with the hotly anticipated curved screen and 3D camera.

Other rumors have suggested that delays in the handset’s new fingerprint sensor mean its release could be delayed until October at the earliest.

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This is the fascinating reason why chip manufacturers make the packets so noisy

ANYONE who has ever tried to eat chips in a cinema knows it’s almost impossible to do it quietly.

Noisy chip packets may be the scourge of secret scoffers but there is a reason for that loud crackle — it makes you think the chips are crunchier.

Now you want a packet of potato chips, right?Source:News Limited

According to a leading scientist, manufacturers deliberately make the packaging loud because the chips taste fresher if you can hear the rustle.

In a “sonic taste” experiment, Charles Spence, a professor of experimental psychology at Oxford University, got people to munch crisps while wearing headphones, so they couldn’t hear the crunch.

Many reported that the snacks tasted more stale and spongy when their ears were covered.

The professor concluded that sound, as well as smell, plays a huge part in our enjoyment of food.

He said: “The sound of the food matters. The sound of the packaging matters and atmospheric sounds matter.”

He found that the noisy chip packet raises expectations about the taste experience to come.

There’s no reason in terms of product preservation for the noisy packets, according to the scientist.Source:News Limited

He wrote: “The sounds of the packaging in which a food is experienced — think the rattle of the crisps packet, or the pop of the champagne cork — can also influence our enjoyment of what comes next too.

“Whenever we hear the pop of the champagne cork, or the rattle of the crisp packet, certain expectations automatically come to mind.”

This effect, he believes, is something the chip makers use to their advantage.

He added: “There’s no reason in terms of product preservation for the noisy packets.

“It must just be some marketing person who thought, ‘It’s a noisy food, it’s got to have the right expectations for the packaging.’”

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