The treasurer will announce next month who will lead the RBA when governor Philip Lowe’s term ends; Barbara Pocock says PwC faces “enormous pressure” to name 63 individuals caught up in the tax leaks. Follow updates here.
Stockton Rush, founder of the company that owns the missing submersible craft that was on its way to view the Titanic wreckage, has said safety is “pure waste”.
Passengers planning to board the Titan signed safety waivers that repeatedly mentioned the possibility of death.That mindset is now coming into focus as rescuers race to find the Titan, which has Rush and four other passengers on board and is probably running out of oxygen, with estimates of about 16 hours left. Ocean scientists and at least one former employee of Rush’s company, OceanGate Inc., have been sounding alarms about its safety procedures for at least five years.
Passengers planning to board the Titan signed safety waivers that repeatedly mentioned the possibility of death. The craft, a cylindrical carbon-fibre and titanium tube that operates with a rudimentary video game controller and lacks even a GPS system, has been missing since Sunday. “I know Stockton well and think the world needs more Stocktons prepared to take a chance,” McCallum said at the time. “But he’s a full-speed-ahead, damn-the-torpedoes kind of guy, and in the submersible industry, extreme depth is all about precision and control. Nothing can be left to chance.”In a claim on its website that was visible last month, OceanGate said that Boeing, NASA and the University of Washington had collaborated on the design and engineering of the Titan.
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