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Financial markets are tanking. Here’s why it’s best not to panic

<div class="theconversation-article-body"> <p>Financial markets around the world have been slammed by the Trump adminstration’s sweeping tariffs on its trading partners, and China’s swift retaliation.</p> <p>Share markets have posted their biggest declines since the COVID pandemic hit in 2020, as fears of US recession surged. Iron ore, copper, oil, gold and the Australian dollar have all tumbled.</p> <p>On Wall Street, <a href="https://www.reuters.com/markets/sp-500-loses-24-trillion-market-value-biggest-one-day-loss-since-2020-2025-04-03/">leading indices</a> have fallen around 10% since the tariffs were announced, while the tech-heavy Nasdaq is down 20% from its recent peak. European and Asian markets have also slumped.</p> <p>In Australia, the key S&amp;P/ASX 200 slid another 4.2% on Monday to levels last seen in December 2023, taking its three-day losses since the announcement to more than 7%.</p> <hr /> <p><iframe id="AJ2rZ" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/AJ2rZ/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe></p> <hr /> <h2>Why are markets reacting so badly?</h2> <p>Financial markets reacted so negatively because the tariffs were much larger than expected. They represent the <a href="https://www.abc.net.au/news/2025-04-05/trump-tariffs-upend-80-year-old-world-economic-order/105139464">biggest upheaval</a> in global trade in 80 years.</p> <p>Many traders were hoping the tariffs would be used mainly as a bargaining tool. <a href="https://finance.yahoo.com/news/live/trump-tariffs-live-updates-trump-digs-in-says-markets-may-have-to-take-medicine-as-stock-futures-plunge-191201959.html">But comments</a> by US President Donald Trump that markets may need to “take medicine” seem to suggest otherwise.</p> <p>The tariffs are expected to weaken economic growth in the US as consumers pare back spending on more expensive imports, while businesses shelve investment plans. Leading US bank JP Morgan has put the <a href="https://www.reuters.com/markets/jpmorgan-lifts-global-recession-odds-60-us-tariffs-stoke-fears-2025-04-04/">chance of a US recession</a> as high as 60%.</p> <p>This comes at a time when the US economy was already looking fragile. The highly regarded GDPNow model developed by the <a href="https://www.atlantafed.org/cqer/research/gdpnow">Atlanta Federal Reserve Bank</a> indicates US March quarter GDP will fall 2.8%, and that was before the tariff announcement.</p> <h2>Worries about global growth</h2> <p>Fears of a recession in the United States and the potential for a global downturn has led to a broad sell-off in commodity prices, including iron ore, copper and oil. Further, the Australian dollar, which is seen as a barometer for risk, has <a href="https://wise.com/au/currency-converter/currencies/aud-australian-dollar">fallen below 60 US cents</a> in local trading – its lowest level since 2009.</p> <p>While the direct impact of tariffs on Australia is expected to be modest (with around 6% of our exports going to US), the indirect impact could be substantial. China, Japan and South Korea together take more than 50% of Australia’s exports, and all have been hit with significantly higher tariffs.</p> <p>Treasurer Jim Chalmers said on Monday that the direct impact on the Australian economy would be “<a href="https://www.abc.net.au/news/2025-04-07/asx-markets-business-news-live-updates/105144276">manageable</a>”.</p> <p>The full effect on Australia will depend on how other countries respond, and whether we can redirect trade to other markets.</p> <p>The rapid decline in the Australian dollar will help offset some of the negative effects associated with a global downturn and the fall in commodity prices.</p> <p>We can also expect some interest-rate relief. Economists are now predicting <a href="https://www.afr.com/markets/debt-markets/traders-expect-up-to-five-rba-rate-cuts-amid-market-turmoil-this-year-20250407-p5lpo0">three further interest rate cuts</a> by the Reserve Bank, starting in May. This brings economists into line with financial market forecasts.</p> <h2>Hang in there, markets will recover</h2> <p>Watching equity markets tumble so dramatically can be unsettling for any investor. However, it is important to note that equity markets have experienced many downturns over the past 125 years due to wars, pandemics, financial crises and recessions. But these market impacts have generally been temporary.</p> <hr /> <p><iframe id="lsNFF" class="tc-infographic-datawrapper" style="border: 0;" src="https://datawrapper.dwcdn.net/lsNFF/" width="100%" height="400px" frameborder="0" scrolling="no"></iframe></p> <hr /> <p>History suggests that over the long term, equity prices continue to rise, supported by growing economies and rising incomes.</p> <p>The key thing for investors to remember is to not panic. Now is not the time to decide to switch your superannuation or other investments to cash. This risks missing the next upswing while also crystallising any current losses.</p> <p>For example, despite the steep market sell-off in March 2020 as the first COVID lockdowns came into effect, the Australian share market had completely recovered those losses by June 2021.</p> <p>It is good practice for investors to regularly reassess their risk profile to make sure it is right for their current stage of life. This means reducing the allocation to riskier assets as investors get closer to retirement age, while also maintaining a cash buffer to avoid having to sell assets during more turbulent periods such as now.</p> <h2>Super funds are exposed to global risks</h2> <p>The current sell-off has highlighted a potential issue facing the superannuation industry.</p> <p>So much of our superannuation is now invested in global equity markets, mostly in the US, because Australia’s <a href="https://www.abc.net.au/news/2025-04-02/australia-superannuation-retirement-savings/105098840">superannuation savings pool</a> – at more than A$4 trillion – has outgrown the investment opportunities available in Australia.</p> <p>Another issue facing the superannuation industry is the growth of cyber attacks, with several funds <a href="https://theconversation.com/hackers-have-hit-major-super-funds-a-cyber-expert-explains-how-to-stop-it-happening-again-253835">targeted in a recent attack</a>. Given the massive size of the assets held by some funds, it would seem they need to improve their security to be on par with that of the banking system.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/253929/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em>By <a href="https://theconversation.com/profiles/luke-hartigan-1491669">Luke Hartigan</a>, Lecturer in Economics, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a></em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/financial-markets-are-tanking-heres-why-its-best-not-to-panic-253929">original article</a>.</em></p> <p><em>Image: Shutterstock</em></p> </div>

Money & Banking

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Family breaks silence after five-year-old son fatally hit by car

<p>The devastated family of five-year-old boy Alby Thompson have remembered him for his "laughter and love". </p> <p>The young boy died after being struck by a four-wheel-drive in Broome, Western Australia about 5.20pm last Thursday.</p> <p>The five-year-old was rushed to Broome Regional Hospital where he later died. </p> <p>His family have issued a statement to the <em>ABC</em> on Wednesday and thanked the community for their “outpouring of love". </p> <p>“It is with profound sorrow that we share the news of our beloved son, Alby, who tragically lost his life in a road accident,” the statement began. </p> <p>“His laughter and love filled our hearts and home.</p> <p>“We kindly request privacy during this period of mourning as we come to terms with this devastating loss.</p> <p>“We thank the community for their outpouring of love and support during this heart-wrenching time.”</p> <p>The 34-year-old driver of the Landcruiser is assisting police with inquiries, and no charges have been laid. </p> <p><em>Image: 7News</em></p>

Caring

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Beauty pageant queen dies after horrific car crash

<p>American beauty pageant queen Kadance Fredericksen has died at the age of 18 after a horrific head-on car crash. </p> <p>According to multiple US outlets, Fredericksen, who was named Miss Okaloosa County Teen USA, tragically died on February 17 following a head-on collision with a tractor-trailer while driving on a Florida highway.</p> <p>The sudden death of the Miss Teen USA title holder was confirmed in a heartbreaking post on The Miss Florida USA Instagram account, saying "our pageant community has lost a beautiful soul" and noting she "was a true light in this world".</p> <p>The Miss Florida USA organisation wrote in their Instagram post underneath a black and white shot of the pageant queen: "It is with profound sadness and a heavy heart that we share the passing of one of our beloved delegates, Kadance Fredericksen, Miss Okaloosa County."</p> <p>"Our pageant community has lost a beautiful soul – one who was a true light in this world. She was ambitious, driven, kind, and a leader among her pageant sisters."</p> <p>They added in part of the post, "May we honour her memory by carrying forward the light she so effortlessly shared with the world and our Florida pageant community. Forever our Queen 🙏🕊️."</p> <p>Her pageant coach Michelle Watts told <em>WKRG</em> following her death, "Even though she passed away at 18 years old, literally, her life story and her life start song still sings."</p> <p>"She is going to have such a legacy behind her."</p> <p><em>Image credits: Instagram </em></p>

Caring

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How to spot an unmarked police car

<p>Unmarked police cars have been utilised for decades on Aussie roads to patrol people speeding and breaking the rules. </p> <p>Many motorists have been caught red-handed by unmarked police cars, copping fines when they least suspect it. </p> <p>Thankfully, <a href="https://www.drive.com.au/caradvice/how-to-spot-an-unmarked-australian-police-car/?utm_source=Nine-Front-Page&utm_medium=Referral" target="_blank" rel="noopener">drive.com.au</a> has shared some helpful tips to spot an unmarked cop car amongst a sea of other vehicles. </p> <p>Unmarked police cars differ from 'undercover' police vehicles, in that they are often equipped with more traffic enforcement equipment such as number plate scanners, speed detection, large antennas for communication, and more lights.</p> <p>Australian Highway Patrol has long used these vehicles, with a spokesperson for the NSW Police Force telling <em>Drive</em> it's part of its "anytime, anywhere" campaign.</p> <div> <p>"The NSW Police Force continues to place a huge focus on road safety and has a number of strategies in place to ensure the roads of NSW are safer for the community. NSWPF utilises both marked and unmarked vehicles to maintain an anytime, anywhere approach to policing activities," said the NSWPF spokesperson.</p> </div> <div> <p>This approach has garnered mixed reactions online, with many people believing that the presence of a police car can prompt people to obey the road rules. </p> <p>"The thing is, I don't believe unmarked cop cars do anything to increase road safety. Whereas a marked police car on the road definitely does," said one Reddit user.</p> <p>Unmarked police cars come in a variety of shapes and sizes, but there are a few key differences that make them stand out.</p> <p>The main thing to look out for is the type of car used, as Highway Patrol vehicles need to be capable of engaging in a pursuit and handling well. For this reason, state police services will often opt for performance-based vehicles.</p> <p>The most common vehicles found in and around cities are the Chrysler 300 SRT, BMW 5 Series (wagon and sedan), BMW X5 M Sport, Kia Stinger, BMW M3 and, in some cases, Subaru WRX.</p> <p>Licence plates can also be a dead giveaway for unmarked cars, as they will use standard-issue plates rather than slim-line or special-edition sets.</p> <p>Another way to spot unmarked police cars is where they have extra lights placed in their vehicles. </p> <div> <p>If you have particularly good eyesight, you will be able to see the small rectangles in the vehicle's grille; these are the emergency lights.</p> </div> <p> </p> <div> <p>Victorian police are known to place the emergency lights on either side of the rear licence plate.</p> <p>Most other states will also have emergency lights placed in the front and rear windows.</p> <div> <p>Antennas are another obvious giveaway for police vehicles, as Highway Patrol vehicles need to be constantly connected to the network, even in low/no service zones to access the registry and police database.</p> </div> <p> </p> <div> <p>You will frequently see one or more large antennas either on the front or the rear of the vehicles.</p> <p><em>Image credits: Shutterstock </em></p> </div> </div> </div>

Legal

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Can you get sunburnt or UV skin damage through car or home windows?

<div class="theconversation-article-body"> <p><em><a href="https://theconversation.com/profiles/theresa-larkin-952095">Theresa Larkin</a>, <a href="https://theconversation.com/institutions/university-of-wollongong-711">University of Wollongong</a></em></p> <p>When you’re in a car, train or bus, do you choose a seat to avoid being in the sun or do you like the sunny side?</p> <p>You can definitely feel the sun’s heat through a window. But can you get sunburn or skin damage when in your car or inside with the windows closed?</p> <p>Let’s look at how much UV (ultraviolet) radiation passes through different types of glass, how tinting can help block UV, and whether we need sunscreen when driving or indoors.</p> <h2>What’s the difference between UVA and UVB?</h2> <p>Of the <a href="https://www.who.int/news-room/questions-and-answers/item/radiation-ultraviolet-(uv)#:%7E:text=Most%20solar%20UVB%20is%20filtered,for%20the%20immediate%20tanning%20effect.">total UV</a> radiation that reaches Earth, about 95% is UVA and 5% is UVB.</p> <p>UVB only reaches the <a href="https://theconversation.com/curious-kids-why-dont-burns-bleed-130792">upper layers</a> of our skin but <a href="https://theconversation.com/what-is-the-uv-index-an-expert-explains-what-it-means-and-how-its-calculated-173146">is the major cause</a> of sunburn, cataracts and skin cancer.</p> <p>UVA <a href="https://theconversation.com/sunscreen-why-wearing-it-even-in-winter-could-be-a-good-idea-219640">penetrates deeper</a> into our skin and causes cell damage that leads to skin cancer.</p> <figure class="align-center "><img src="https://images.theconversation.com/files/646357/original/file-20250203-17-c897dp.jpg?ixlib=rb-4.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;fit=clip" sizes="(min-width: 1466px) 754px, (max-width: 599px) 100vw, (min-width: 600px) 600px, 237px" srcset="https://images.theconversation.com/files/646357/original/file-20250203-17-c897dp.jpg?ixlib=rb-4.1.0&amp;q=45&amp;auto=format&amp;w=600&amp;h=416&amp;fit=crop&amp;dpr=1 600w, https://images.theconversation.com/files/646357/original/file-20250203-17-c897dp.jpg?ixlib=rb-4.1.0&amp;q=30&amp;auto=format&amp;w=600&amp;h=416&amp;fit=crop&amp;dpr=2 1200w, https://images.theconversation.com/files/646357/original/file-20250203-17-c897dp.jpg?ixlib=rb-4.1.0&amp;q=15&amp;auto=format&amp;w=600&amp;h=416&amp;fit=crop&amp;dpr=3 1800w, https://images.theconversation.com/files/646357/original/file-20250203-17-c897dp.jpg?ixlib=rb-4.1.0&amp;q=45&amp;auto=format&amp;w=754&amp;h=523&amp;fit=crop&amp;dpr=1 754w, https://images.theconversation.com/files/646357/original/file-20250203-17-c897dp.jpg?ixlib=rb-4.1.0&amp;q=30&amp;auto=format&amp;w=754&amp;h=523&amp;fit=crop&amp;dpr=2 1508w, https://images.theconversation.com/files/646357/original/file-20250203-17-c897dp.jpg?ixlib=rb-4.1.0&amp;q=15&amp;auto=format&amp;w=754&amp;h=523&amp;fit=crop&amp;dpr=3 2262w" alt="Graphic showing UVA and UVB penetrating skin" /><figcaption><span class="caption">UVA penetrates deeper than UVB.</span> <span class="attribution"><a class="source" href="https://www.shutterstock.com/image-vector/difference-radiation-types-sunlight-which-harmful-669925423">Shutterstock/solar22</a></span></figcaption></figure> <h2>Glass blocks UVA and UVB radiation differently</h2> <p>All <a href="https://onlinelibrary.wiley.com/doi/10.1111/phpp.12022">glass</a> used in house, office and car windows completely blocks UVB from passing through.</p> <p>But only laminated glass can completely block UVA. UVA <a href="https://www.skincancer.org/blog/sneaky-ways-youre-being-exposed-to-the-suns-uv-rays/#:%7E:text=UVB%20rays%2C%20the%20primary%20sunburn,the%20rays%20will%20reach%20you">can pass through</a> other glass used in car, house and office windows and <a href="https://theconversation.com/sunscreen-why-wearing-it-even-in-winter-could-be-a-good-idea-219640">cause skin damage</a>, increasing the risk of cancer.</p> <h2>Car windscreens block UVA, but the side and rear windows don’t</h2> <p>A car’s front windscreen lets in lots of sunshine and light. Luckily it <a href="https://onlinelibrary.wiley.com/doi/10.1111/phpp.12022">blocks 98% of UVA radiation</a> because it is made of two layers of laminated glass.</p> <p>But the side and rear car windows are made of tempered glass, which doesn’t completely block UVA. A <a href="https://jamanetwork.com/journals/jamaophthalmology/fullarticle/2522190">study of 29 cars</a> found a range from 4% to almost 56% of UVA passed through the side and rear windows.</p> <p>The UVA protection was not related to the car’s age or cost, but to <a href="https://www.sciencedirect.com/science/article/pii/S0190962205046244?casa_token=qxVQnQ_mFjEAAAAA:5n6QVYBb22gfsWNLxfxbNtsibJ1JXl_C7RtRhsaQLFVkRocFgoWiI4BnNyMGO35EnyIsLNhFK90">the type</a> of glass, its colour and whether it has been tinted or coated in a protective film. Grey or bronze coloured glass, and window tinting, all increase UVA protection. <a href="https://academic.oup.com/tropej/article/59/6/496/1660803">Window tinting</a> blocks around 95% of UVA radiation.</p> <p>In a separate study from Saudi Arabia, researchers fitted drivers with a <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC9797294/">wearable radiation monitor</a>. They found drivers were exposed to UV index ratings up to 3.5. (In Australia, sun protection <a href="https://www.cancer.org.au/cancer-information/causes-and-prevention/sun-safety/about-sunscreen/spf50-sunscreen">is generally recommended</a> when the UV index is 3 or above – at this level it takes pale skin about 20 minutes to burn.)</p> <p>So if you have your windows tinted, you should not have to wear sunscreen in the car. But without tinted windows, you can accumulate skin damage.</p> <h2>UV exposure while driving increases skin cancer risk</h2> <p>Many people spend a lot of time in the car – for work, commuting, holiday travel and general transport. Repeated UVA radiation exposure through car side windows might go unnoticed, but it can affect our skin.</p> <p>Indeed, skin cancer is more common on the driver’s side of the body. A <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC3117975/">study in the United States</a> (where drivers sit on the left side) found more skin cancers on the left than the right side for the face, scalp, arm and leg, including 20 times more for the arm.</p> <p><a href="https://pubmed.ncbi.nlm.nih.gov/20226568/">Another US study</a> found this effect was higher in men. For <a href="https://www.cancerresearchuk.org/about-cancer/melanoma/stages-types/melanoma-in-situ-stage-0#:%7E:text=What%20is%20melanoma%20in%20situ,grown%20deeper%20into%20the%20skin.">melanoma in situ</a>, an early form of melanoma, 74% of these cancers were on the on the left versus 26% on the right.</p> <p>Earlier Australian studies reported more <a href="https://pmc.ncbi.nlm.nih.gov/articles/PMC1340770/">skin damage</a> and more <a href="https://jamanetwork.com/journals/jamadermatology/fullarticle/555250">skin cancer</a> on the right side.</p> <p>Cataracts and other eye damage are also <a href="https://www.aoa.org/news/clinical-eye-care/diseases-and-conditions/cataracts-and-uv-exposure-in-driver-side-windows?sso=y">more common on the driver’s side</a> of the body.</p> <h2>What about UV exposure through home or office windows?</h2> <p>We see UV damage from sunlight through our home windows in faded materials, furniture or plastics.</p> <p>Most glass used in residential windows lets a lot of UVA pass through, <a href="https://onlinelibrary.wiley.com/doi/10.1111/j.1600-0781.2009.00434.x">between 45 and 75%</a>.</p> <p>Single-pane glass lets through the most UVA, while thicker, tinted or coated glass blocks more UVA.</p> <p>The best options are laminated glass, or double-glazed, tinted windows that allow less than 1% of UVA through.</p> <p><a href="https://onlinelibrary.wiley.com/doi/10.1111/phpp.12022">Skylights</a> are made from laminated glass, which completely stops UVA from passing through.</p> <p>Most office and commercial window glass has better UVA protection than residential windows, allowing <a href="https://www.sciencedirect.com/science/article/pii/S0190962205046244?casa_token=qxVQnQ_mFjEAAAAA:5n6QVYBb22gfsWNLxfxbNtsibJ1JXl_C7RtRhsaQLFVkRocFgoWiI4BnNyMGO35EnyIsLNhFK90#bib17">less than 25% of UVA transmission</a>. These windows are usually double-glazed and tinted, with reflective properties or UV-absorbent chemicals.</p> <p>Some <a href="https://theconversation.com/smart-windows-could-be-the-next-big-thing-in-renewable-heating-245053">smart windows</a> that reduce heat using chemical treatments to darken the glass can also block UVA.</p> <h2>So when should you wear sunscreen and sunglasses?</h2> <p>The biggest risk with skin damage while driving is having the windows down or your arm out the window in direct sun. Even untinted windows will reduce UVA exposure to some extent, so it’s better to have the <a href="https://theconversation.com/i-cant-get-sunburnt-through-glass-shade-or-in-water-right-5-common-sunburn-myths-busted-150640">car window up</a>.</p> <p>For home windows, <a href="https://onlinelibrary.wiley.com/doi/10.1111/phpp.12022">window films or tint</a> can increase UVA protection of single pane glass. UVA blocking by glass is similar to protection by sunscreen.</p> <p>When you need to use sunscreen <a href="https://onlinelibrary.wiley.com/doi/pdf/10.5694/j.1326-5377.2006.tb00267.x">depends on</a> your skin type, latitude and time of the year. In a car without tinted windows, you could burn after one hour in the middle of the day in summer, and two hours in the middle of a winter’s day.</p> <p>But in the middle of the day next to a home window that allows more UVA to pass through, it <a href="https://onlinelibrary.wiley.com/doi/pdf/10.5694/j.1326-5377.2006.tb00267.x">could</a> take only 30 minutes to burn in summer and one hour in winter.</p> <p>When the UV index is above three, it is recommended you <a href="https://theconversation.com/sunglasses-dont-just-look-good-theyre-good-for-you-too-heres-how-to-choose-the-right-pair-245270">wear protective sunglasses</a> while driving or next to a sunny window to avoid eye damage.<!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/theresa-larkin-952095">Theresa Larkin</a>, Associate Professor of Medical Sciences, <a href="https://theconversation.com/institutions/university-of-wollongong-711">University of Wollongong</a></em></p> <p><em>Image credits: Shutterstock </em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/can-you-get-sunburnt-or-uv-skin-damage-through-car-or-home-windows-246599">original article</a>.</em></p> </div>

Body

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Mum furious over grandmother’s refusal to use car seat for her child

<p dir="ltr">A mother has voiced her frustration over her own mother’s major babysitting error. </p> <p dir="ltr">The woman, who has a son of her own, shared that her parents regularly look after their grandchild, but has grown more and more annoyed that one request has been ignored. </p> <p dir="ltr">In her lengthy post on Reddit, the woman wrote that her mother has taken her grandson in a car without a car seat more than once. </p> <p dir="ltr">She wrote, "I'm livid and won't be letting her take him out again but needed to vent. My parents look after my son for me now and again, he loves them, and they love him, but my mom is really testing me. Twice now she has had him in someone's car without his car seat."</p> <p dir="ltr">She continued: "The first time it happened, I didn't let her see him for a month. I knew they were taking him out and had left his car seat for them, but she didn't use it as they were only 'going around the corner.' I screamed and shouted about her putting my son at risk.” </p> <p dir="ltr">“She tried to backtrack and lie her way out of it, but at the end of the day, she disrespected me."</p> <p dir="ltr">"That was almost a year ago; yesterday, she had him as I had work in London, and hubby was at work; she said they were taking him out and promised she would use the car seat. I stressed to her how she won't see him again if they don't use it and guess what, they didn't use it."</p> <p dir="ltr">The end of the post reads: "I'm livid, I'm going to see her today to shout and give an ultimatum, why don't people listen?! 'Oh, he was fine. We only went two streets away. You're being dramatic…'"</p> <p dir="ltr">"'Dramatic' when there's an insane storm going on, and anything could have happened. [She] won't be having him again. I feel like a d*** for trusting and believing her.”</p> <p dir="ltr">Hundreds of comments poured in from other mothers backing up the woman’s decision, as one person wrote, "She is playing Russian roulette with your child's life. Stay strong in this decision."</p> <p dir="ltr">Another simply wrote, “Why even take the risk? Why?!"</p> <p dir="ltr"><em>Image credits: Shutterstock</em></p></p>

Family & Pets

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Father and four-year-old son killed in Australia Day crash identified

<p>A father who was killed alongside his four-year-old son in a horror car crash on Brisbane's bayside has been identified as Chris Vrbesic.</p> <p>Emergency services were called to Ransome just before 9am on Australia Day, after a blue Holden Commodore collided with a red Mitsubishi Lancer on Rickertt Road at an intersection. </p> <p>Vrbesic, 37, was pronounced dead at the scene and his son was taken to Queensland Children's Hospital, where he died.</p> <p>The driver of the Mitsubishi, a 29-year-old Birkdale man, suffered minor injuries and was helped by bystanders before he was taken to Princess Alexandra Hospital for treatment.</p> <p>Vrbesic, from Manly West, has been remembered by his friends and loved ones as a "family man" with a "big heart". </p> <p>A friend who stopped by the crash site told <em>The Courier Mail</em>: “I think you’re going to find this will be one of those tragedies … thousands of people it is going to affect.”</p> <p>"He helped so many people, he had such a big f***ing heart." </p> <p>The father-of-three was a project manager at Innate Developments - a company that specialises in residential and commercial construction.</p> <p>Deputy Premier Jarrod Bleijie shared their condolences for the family, saying: "Any life lost on Queensland roads is one too many and we must do anything we can to ensure safety on our roads." </p> <p>"If it's under police investigation obviously police must investigate the circumstances of what happened but there are communities hurting and families hurting."</p> <p>Police are investigating whether speed was a factor in the collision. </p> <p><em><span style="font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;">Image: LinkedIn</span></em></p>

Caring

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Does ‘made with love’ sell? Research reveals who values handmade products the most

<div class="theconversation-article-body"><em><a href="https://theconversation.com/profiles/tuba-degirmenci-2291455">Tuba Degirmenci</a>, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>; <a href="https://theconversation.com/profiles/frank-mathmann-703900">Frank Mathmann</a>, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>, and <a href="https://theconversation.com/profiles/gary-mortimer-1322">Gary Mortimer</a>, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a></em></p> <p>We’ve all seen the marketing message “handmade with love”. It’s designed to tug at our heartstrings, suggesting extra care and affection went into crafting a product.</p> <p>As Valentine’s Day approaches, many businesses will ramp up such messaging in their advertising.</p> <p>Handmade gifts are often cast as more thoughtful, special options than their mass-produced, machine-made alternatives.</p> <p>But does “love” actually sell? Our new <a href="https://onlinelibrary.wiley.com/doi/10.1002/cb.2455">research</a>, published in the Journal of Consumer Behaviour, reveals not everyone feels the same way about these labels.</p> <p>Why do some people feel handmade products are made with love, while others don’t really care? We found it’s all about how they approach purchase decisions.</p> <h2>A deeper, human connection</h2> <p>Why do businesses market products as handmade? Previous research has shown handmade labels can lead to higher positive emotions. This tendency is known as the “<a href="https://journals.sagepub.com/doi/abs/10.1509/jm.14.0018">handmade effect</a>”.</p> <p>In a world of seemingly perfect and polished products, <a href="https://www.emerald.com/insight/content/doi/10.1108/09590551211267593/full/html">research</a> shows consumers increasingly prefer human (as opposed to machine) interactions, including in their shopping experiences.</p> <p>It’s also been shown that giving handmade gifts can <a href="https://link.springer.com/article/10.1007/s11002-024-09722-w">promote social relationships</a>.</p> <p>We often associated handmade products with smaller “cottage” retailers. But many major global retailers – including <a href="https://www.amazon.com/b?ie=UTF8&amp;node=120955898011">Amazon</a> and <a href="https://www.ikea.com/au/en/new/handcrafted-textiles-for-a-better-future-pub6fc26570/">IKEA</a> – have strategically introduced handmade products, aiming to connect on a deeper emotional level with their consumers.</p> <p>Our research found not all consumers respond in the same way to these marketing messages.</p> <figure><iframe src="https://www.youtube.com/embed/kYn-xUjv_qs?wmode=transparent&amp;start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption><span class="caption">IKEA has previously run a dedicated handmade marketing campaign.</span></figcaption></figure> <h2>Who cares about love?</h2> <p>Across two studies, we found that the response to marketing products as “handmade” depends on a consumer’s locomotion orientation – put simply, how they approach decisions and other actions.</p> <p><a href="https://www.sciencedirect.com/science/article/abs/pii/S0022435917300155">Low-locomotion individuals</a> take things more slowly. They take their time and can thoroughly consider their purchase decisions. Think of them as the “mindful”.</p> <p>In contrast, high-locomotion individuals are “doers”. They like to get things done quickly without getting stuck in the details. They are the “grab-and-go” shopper.</p> <p>When the way they perform an action – such as making a purchase – matches their fast-paced mindset, something remarkable happens: they experience what’s called “<a href="https://myscp.onlinelibrary.wiley.com/doi/full/10.1002/jcpy.1317">regulatory fit</a>”.</p> <p>This fit boosts their emotions and engagement.</p> <h2>Our first study</h2> <p>In our first study, participants imagined buying a gift for a loved one. They were split into three groups and presented with a photo of the same mug.</p> <p>One group was informed that the mug was “handmade”, one group informed it was “machine-made”, and the last group was not offered any “production cue”.</p> <p>We also asked and measured how much “love” they felt the mug contained – and how much they would pay for it.</p> <p>The handmade mug evoked more love and led to a higher willingness to pay – but only for those with a “low-locomotion” orientation.</p> <p>High-locomotion individuals didn’t react in the same way. For these “doers”, the backstory of how the mug had been made wasn’t as important as just getting a product they needed.</p> <p>For the “doers”, the benefits of marketing the mug as handmade actually backfired.</p> <p>They felt more love for the mug if it had no label at all.</p> <h2>Our second study</h2> <p>By communicating with consumers on social media, marketers can trigger a mindset called “regulatory locomotion mode”. Put simply, this is the mode where we take action and make progress toward goals.</p> <p>Marketers can do this by using <a href="https://psycnet.apa.org/doiLanding?doi=10.1037%2F0022-3514.79.5.793">locomotion-activating</a> words such as “move” and “go” to encourage active decision-making.</p> <p>To borrow one famous example from Nike: “<a href="https://psycnet.apa.org/doiLanding?doi=10.1037%2F0022-3514.79.5.793">Just Do It</a>”.</p> <p>Our second study examined the marketer-generated content of over 9,000 Facebook posts from the verified <a href="https://www.facebook.com/Etsy">Etsy</a> Facebook page.</p> <p>We analysed how locomotion-activating words in social media posts for handmade products influence consumer engagement.</p> <p>In other words, we wanted to understand how these words affected social media engagement with the potential consumers reading them, particularly in terms of social media shares.</p> <p>We found the higher an individual’s locomotion orientation was, the fewer social media “shares” for handmade products occurred.</p> <h2>So, does handmade really matter?</h2> <p>As we get closer to Valentine’s Day, understanding these differences can help retailers tailor their marketing strategies.</p> <p>For “mindful” customers, retailers should highlight the story of the craftsmanship, care, and love behind a handmade product for Valentine’s Day. Use emotional language such as “made with love”.</p> <p>But be aware this mightn’t work on everyone. For a customer base of “doers”, keep it simple, leaving out unnecessary details about production methods.</p> <p>There are a range of <a href="https://marketingplatform.google.com/about/">website analytical tools</a> that can help retailers identify how their customers approach their purchase decision-making.</p> <p>Do they browse quickly, hopping from one product to the next, opting for “<a href="https://www.business.com/articles/one-click-purchasing-how-click-to-buy-is-revolutionizing-ecommerce/">one-click</a>” purchasing? Or do they take their time, browsing slowly and considering their product selection?</p> <p>Personalised marketing messages can then be crafted to emphasise the aspects – love or efficiency – that matter most to each group. The key lies in knowing who you’re speaking to.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/247351/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><a href="https://theconversation.com/profiles/tuba-degirmenci-2291455">T<em>uba Degirmenci</em></a><em>, PhD Candidate School of Advertising, Marketing and Public Relations, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>; <a href="https://theconversation.com/profiles/frank-mathmann-703900">Frank Mathmann</a>, Lecturer (Assistant Professor), <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a>, and <a href="https://theconversation.com/profiles/gary-mortimer-1322">Gary Mortimer</a>, Professor of Marketing and Consumer Behaviour, <a href="https://theconversation.com/institutions/queensland-university-of-technology-847">Queensland University of Technology</a></em></p> <p><em>Image credits: Shutterstock</em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/does-made-with-love-sell-research-reveals-who-values-handmade-products-the-most-247351">original article</a>.</em></p> </div>

Money & Banking

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First driver fined under new road rules

<p>The driver of a luxury car is believed to be the first person fined under new rules that requires high-powered vehicle owners to hold a special license.</p> <p>New legislation in South Australia came into force on December 1st this year that requires drivers of ultra high-powered vehicles (UHPV) to hold a U class licence.</p> <p>Drivers who flout the rules can be hit with six demerit points a maximum fine of $2,500 for the first offence, with the penalty for subsequent offences potentially leading to one year of imprisonment.</p> <p>On Monday, police in South Australia revealed a man driving a Lamborghini had been fined for allegedly breaching the new law on Sunday: the first day the legislation came into force.</p> <p>“About 7.30am on Sunday 1 December, police stopped a Lamborghini Huracan on Queensborough Ave, Hillcrest after noticing it was not bearing a rear number plate,” a South Australia Police spokesman wrote in a media release.</p> <p>“The officer identified the vehicle as being classed as an UHPV however checks on the man’s licence revealed that he did not have the required ‘U’ class licence endorsement."</p> <p>“A 36-year-old man from Evandale was issued with an expiation notice for driving with an expired licence for that class of vehicle.”</p> <p>The requirement for the licence was introduced following the death of Sophia Naismith, according to the Department for Infrastructure and Transport.</p> <p>In 2019, Sophia Naismith, 15, and her friend were struck luxury Lamborghini after the luxury car mounted the kerb and hit the teenagers before crashing into a restaurant. </p> <p>The Naismiths campaigned for changes and they were introduced, with Attorney-General Kyam Maher saying: “If you drive an ultra high-powered vehicle, you need to go through training to have that accredited on your licence.”</p> <p><em>Image credits: South Australia Police</em></p>

Legal

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The five best European Christmas markets

<p dir="ltr">A savvy traveller has shared her top five favourite Christmas markets in Europe, after visiting more than 100 festive markets. </p> <p dir="ltr">Originally from Texas, Helene Sula became enamoured with European festive traditions since moving to Heidelberg, Germany, in 2016. </p> <p dir="ltr">She told <em><a href="https://www.dailymail.co.uk/travel/article-13982839/100-Christmas-markets-favourite-five-Helene-Sula-Germany-France-UK-Austria.html">MailOnline Travel</a></em>, “Heidelberg was my first ever Christmas market and I was obsessed. I made it my mission to see as many as possible. The feeling was like being a kid at Christmas all over again. The magic felt real.”</p> <p dir="ltr">Despite her love for her local Christmas market, Helene shared the other four markets that have captured her heart, all while paying homage to the one that kicked off her love affair with Christmas festivities. </p> <p dir="ltr"><strong>Cologne, Germany</strong></p> <p dir="ltr">According to Helene, the Christmas market in Cologne is not to be missed. </p> <p dir="ltr">The travel blogger said, “Cologne’s Christmas market near the cathedral is breathtaking. The towering Gothic architecture of the Cologne Cathedral creates the perfect backdrop for the festive lights and stalls.”</p> <p dir="ltr">“The market is expansive, with plenty of food options - make sure to try the Reibekuchen (potato pancakes) and mulled wine. It’s also great for families, with a skating rink and carousel.”</p> <p dir="ltr"><strong>Strasbourg, France</strong></p> <p dir="ltr">The keen traveller said France always offers “authenticity” in their Christmas markets.</p> <p dir="ltr">Helene comments, “Known as the Capital of Christmas, Strasbourg is one of the oldest and most beautiful Christmas markets in Europe.” </p> <p dir="ltr">“The entire city is transformed into a festive wonderland, with stunning decorations, multiple market squares, and delicious local treats like tarte flambée and bredele cookies. The charm and authenticity of this market are unmatched.”</p> <p dir="ltr"><strong>Heidelberg, Germany</strong></p> <p dir="ltr">Despite travelling all over the continent for Christmas festivities, Helene’s local market of Heidelberg is still one of her favourites. </p> <p dir="ltr">“Heidelberg holds a special place in my heart as it was the first Christmas market I visited after moving to Germany,” comments the traveller. </p> <p dir="ltr">“The market goes along the Hauptstrasse, one of the longest pedestrian streets in Europe! You'll wander through the beautiful historic old town, with the illuminated Heidelberg Castle overlooking the city.”</p> <p dir="ltr">“The ice-skating rink and warm treats like bratwurst make this market feel intimate and magical. Also, get some fries!”</p> <p dir="ltr"><strong>Ribeauville, France</strong></p> <p dir="ltr">According to Helene, this historic market offers a step back in time to Christmas of years past.</p> <p dir="ltr">She said, “Ribeauville is a medieval-themed Christmas market, and it's one of the most unique I've ever visited.The town feels like it's straight out of a fairytale, with medieval music, costumes, and performances that transport you back in time.” </p> <p dir="ltr">“It's only open two weekends a year so you have to plan! I also recommend this as a family-friendly one, as it's great for kids!”</p> <p dir="ltr"><strong>Vienna, Austria</strong></p> <p dir="ltr">The capital city of Austria is one of the largest in Europe, and is destined to impress anyone who attends. </p> <p dir="ltr">Helene explains, “Vienna’s Christmas markets are elegant and enchanting, with the market at Rathausplatz being my favourite. The backdrop of Vienna’s grand architecture combined with twinkling lights is truly magical.” </p> <p dir="ltr">“Try a Viennese sausage and a cup of punch, and enjoy ice skating at the nearby rink for a full festive experience.”</p> <p dir="ltr"><em>Image credits: Shutterstock </em></p></p>

International Travel

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Kate Ritchie involved in multi-vehicle car crash

<p>Kate Ritchie has been involved in a multi-vehicle car crash in Sydney's Eastern Suburbs. </p> <p>The radio host was reportedly behind the wheel of her BMW when the incident unfolded in Randwick, with eye-witnesses claiming Ritchie's care collided with a parked Mitsubishi Pajero, forcefully pushing it off the road and into a parked Kia.</p> <p>The owner of the Kia, who wished to remain anonymous, identified Ritchie as the driver of the BMW and confirmed that Ritchie shared her details with him following the collision.</p> <p>After the exchange, Kate, 46, expressed her need to leave promptly to pick up her nine-year-old daughter, Mae.</p> <p>He added that Kate said her personal assistant would follow up on the matter, and that Ritchie did not appear under the influence of alcohol, although no roadside sobriety test was administered by police. </p> <p>All three vehicles involved suffered substantial damage and were later towed away from the suburban street.</p> <p>Daily Mail Australia reached out to NSW Police who provided the following statement.</p> <p>"About 5.10pm on Wednesday (6 November 2024) emergency services were called to Dudley Street, Randwick, following reports of a crash," the statement read.</p> <p>"Officers attached to Eastern Beaches Police Area Command commenced inquiries into the circumstances surrounding the incident. Inquiries revealed a BMW SUV crashed into a parked car."</p> <p> </p> <p>"The 46-year-old female driver of the SUV and the owner of the parked car exchanged details. No injuries were reported. No police action was required."</p> <p><em>Image credits: Instagram - ABC</em></p>

Legal

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Child dies after car crashes through school gate

<p>One child has died and another four kids have been left injured after a car crash through a school gate in the east Melbourne suburb of Auburn. </p> <p>Emergency services were called to Auburn South Primary School in Hawthorn East on Tuesday afternoon after a car veered off the road and into the primary school's gate.</p> <p>The car collided with a table where five children were sitting. </p> <p>Two 11-year-old girls, one 10-year-old girl and a 10-year-old boy were all taken to hospital with serious injuries.</p> <p>An 11-year-old boy was taken to hospital with critical injuries, and later died.</p> <p>The driver of the vehicle was identified as a 40-year-old woman who was local to the area, and was arrested at the scene. </p> <p>A primary school-aged was also in the car at the time of the crash but remained unharmed. </p> <p>Victoria Police Inspector Craig McEvoy said the driver was attempting a U-turn before veering off the road, and it appeared the crash was an accident.</p> <p>"It's tragic circumstances ... really tough for everyone involved," McEvoy said. "It's always a tough time when children are involved."</p> <p>"The ongoing investigation will take days, weeks, months," Inspector McEvoy added.</p> <p>Premier Jacinta Allan also commented on the incident, saying it should have been an "unremarkable sunny day" at the school.</p> <p>"Instead, a dark shadow has been cast over our city and state," she wrote on X.</p> <p>"I'm sending my love and thoughts to the students, their families and the whole school communityAnd my thanks to the first responders on the scene," she said.</p> <p>"I know tonight Victorians will be thinking of Auburn South Primary, and holding our kids even closer."</p> <p><em>Image credits: ABC News / Nine News </em></p>

Caring

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Fury over black market for disabled parking permits

<p>An investigation has uncovered a rise in the black market for disabled and mobility permits on online classified sites.</p> <p>According to motoring news outlet <a href="https://www.drive.com.au/caradvice/outrage-after-disabled-parking-permits-spotted-for-sale-online/" target="_blank" rel="noopener"><em>Drive</em></a>, some users around Australia are using Facebook and other social media outlets to sell their unused mobility parking permits to give other drivers unauthorised access to disabled parking spots.</p> <p>The publication unearthed one permit for sale in Sydney was priced at $500 and valid until 2028.</p> <p>The permit was equipped with the holder, photo ID, and a description stating the buyer will get free unmetered parking and that the permit is valid Australia-wide.</p> <p>A spokesperson for Transport NSW told <em>Drive</em> this practice is illegal and carries large fines for both the purchaser and seller, adding that the permit holder is subject to cancellation for misuse.</p> <p>“The sale of mobility parking permits online is illegal, and Transport for NSW urges anyone who is aware of this happening to report it to NSW Police," the spokesperson said. “These permits are reserved only for people with permanent or temporary mobility challenges as assessed by a medical professional."</p> <p>“The regulatory penalty for misuse of a permit is currently a penalty notice of $818 or a maximum court-imposed penalty of $2200 under the Road Transport (General) Regulation 2021. This includes ‘permitting another person to have possession of it’.”</p> <p>A spokesperson for the Department of Social Services Australia went on to stress the importance of not buying a mobility parking permit if you are not legally entitled to one.</p> <p>“Australia’s Disability Strategy recognises that people with disability should be supported to live more accessible and connected lives within their communities, including being able to fully participate in social, recreational, and cultural events," the spokesperson said.</p> <p>“The inappropriate use of accessible parking spaces can negatively impact people with disability.”</p> <p><em>Image credits: Drive / Facebook</em></p>

Legal

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The surprising unknown road rule that is costing drivers

<p dir="ltr">A woman has issued a warning to Aussie drivers after being threatened with a hefty fine for a common car decoration. </p> <p dir="ltr">Janelle McEvoy, a young woman from Perth, took to TikTok to recall the moment she learned that she could be facing a fine for having an air freshener hanging from her car’s rear view mirror. </p> <p dir="ltr">“I randomly got breath tested on the way to an event this morning and the police officer told me when I get home I need to remove this hanging from my car to avoid the $100 fine and the demerit point,” she said in her TikTok video, which has since had nearly 2 million views. </p> <p dir="ltr">“Doesn’t everyone have one of these hanging from their car? Where is it supposed to go?”</p> <p dir="ltr">Thousands of people flocked to the comments on the video to share their surprise over the obscure road rule, with one person writing, “The way my jaw dropped when you showed what it was cause I bought the exact same thing not too long ago.”</p> <p dir="ltr">Another added, “That’s crazy, I have like four air fresheners and two crystal chains hanging from my car.”</p> <p dir="ltr">The rule, which varies between states, can carry fines and possibly the loss of demerit points, if a police officer deems that the driver’s vision is obstructed from whatever is hanging from the mirror.</p> <p dir="ltr">In NSW, drivers without a clear view of the road can be fined $410 fine and have three demerit points issued.</p> <p dir="ltr">In other Aussie states, the fine for obstructed vision can range between $100 and $361. </p> <p><em>Image credits: Shutterstock </em></p>

Money & Banking

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Jamie Oliver sells vintage Fiat with unique plate number

<p>Jamie Oliver is putting up his 1955 Fiat 1100 pick-up for auction on Saturday September 28. </p> <p>The celebrity chef, who is an avid car enthusiast, has owned the vehicle since 2012, and it is still in its original and unrestored condition, with just 43,000 km on the clock. </p> <p>The ute was imported from Italy in 1973, and the celebrity chef is the third UK owner of the vintage vehicle. </p> <p>Not only does the ute still have its original steel wheels - with yellow highlights - it has a unique plate number that spells out '677 Yum'. </p> <p>The rear of the car has been embellished by the celebrity chef, with a sticker of a white hearts and the initials J.O which stands for both his name and his wife Juliette, known as Jools.</p> <p>The Fiat 1100 is painted green and has brown vinyl seats, with the spare wheel stowed behind them. It has a four-speed manual gearbox that connects the four-cylinder petrol engine to a live axle rear-end. </p> <p>Classic Car Auctions, the auctioneers selling the car, has assessed the vehicles condition and given it an overall grade of 80 out of 135, meaning that the car is still in 'good condition'. </p> <p>The ute is expected to sell for between  £6000 and £8000 ($AU11,700 to $AU15,600). </p> <p><em>Images: Classic Car Auctions</em></p> <p> </p>

Money & Banking

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Advertising a house is ridiculously expensive in Australia – could that be affecting the property market?

<div class="theconversation-article-body"><em><a href="https://theconversation.com/profiles/james-graham-1264059">James Graham</a>, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a></em></p> <p>Australia has long been one of the <a href="https://www.forbes.com.au/news/investing/sydney-melbourne-adelaide-are-top-10-least-affordable-cities-for-housing/#:%7E:text=Demographia's%20annual%20report%20assesses%20housing,second%20place%2C%20and%20Vancouver%20third.">most expensive</a> places in the world to buy a house. Now, it’s apparently also one of the costliest places to sell one.</p> <p>Recent <a href="https://www.theguardian.com/australia-news/2024/sep/16/the-symbiotic-relationship-that-makes-selling-a-house-in-australia-so-damn-expensive">reporting</a> in the Guardian has raised concerns about the market dominance of Australia’s two main real estate advertising websites, realestate.com.au and Domain.</p> <p>Facing little competition, the largest – realestate.com.au – appears to have <a href="https://www.theguardian.com/australia-news/2024/sep/16/the-symbiotic-relationship-that-makes-selling-a-house-in-australia-so-damn-expensive">significantly increased its fees</a> in recent years, while thwarting disruptive innovations from smaller competitors.</p> <p>Why does that matter? Because when it comes to selling a house, Australia <a href="https://www.theguardian.com/australia-news/2024/sep/16/real-estate-website-fees-australia">stands out</a> globally. In most other countries, any advertising costs are tiny or bundled in with agent fees.</p> <p>Here, along with only <a href="https://www.theguardian.com/australia-news/2024/sep/16/the-symbiotic-relationship-that-makes-selling-a-house-in-australia-so-damn-expensive">Sweden and New Zealand</a>, home sellers pay their own advertising costs in addition to real estate agent fees and commissions.</p> <p>This advertising can be expensive – up to several thousand dollars for a single property listing. But it also seems necessary, with a lack of alternative platforms offering comparable reach.</p> <p>Setting aside the problems of monopolistic pricing behaviour, what are the economics of high and rising real estate advertising fees? Do home sellers get value for the money they spend on advertising? And what might be the impacts of these fees on the Australian housing market?</p> <h2>Is advertising on big platforms worth it?</h2> <p>First, it’s worth asking whether real estate advertising is actually effective and whether bigger platforms are better.</p> <p>To explore these questions, a group of US-based economists <a href="https://www.aeaweb.org/articles?id=10.1257/aer.99.5.1878">studied</a> the outcomes of advertising on a large platform favoured by real estate agents in the United States called the “multiple listing service”, compared with a smaller for-sale-by-owner platform.</p> <p>The study found no differences in eventual home sales prices between the two platforms. But properties on the multiple listing service were more likely to sell and spent less time on the market.</p> <p>However, the size of the advertising platform didn’t explain these benefits. Rather, the different platforms appealed to buyers and sellers with varying patience levels. This variation in willingness to “wait-and-see” affected the time it took to sell.</p> <p>Translated to the Australian context, that raises questions about the value for money of advertising on a larger platform – which here, unlike the US, attracts significant fees.</p> <h2>Housing markets are ‘search markets’</h2> <p>Next, we need to consider how high costs of advertising property might affect the housing market more broadly.</p> <p>Housing markets fall into a category called “search markets” within economics. Sellers seek buyers, and buyers seek sellers offering up properties that meet their required criteria.</p> <p>The economics of search markets have been extensively studied by the likes of <a href="https://www.nobelprize.org/prizes/economic-sciences/2010/summary/">Nobel laureates</a> Peter Diamond, Dale Mortensen and Christopher Pissarides. Their insights highlight the key factors that determine search market outcomes.</p> <p>Sellers consider the costs of listing an item for sale (such as advertising) and the time it takes to find a buyer. Buyers, on the other hand, consider their alternatives to buying (such as renting) and the time it might take to find a suitable seller.</p> <p>The likelihood of a sale – and how long everything will take – depends on the number of potential buyers relative to sellers. The sales price is then negotiated after meetings between the two.</p> <p>This gives us a framework to speculate about how Australia’s high – and increasing – costs of advertising real estate could be affecting the broader housing market on both sides of this equation.</p> <h2>Costs can affect both supply and demand</h2> <p>On the supply side, high fees reduce the net financial benefit of selling a home, which could discourage homeowners from listing their properties. All else being equal, this could lead to fewer properties on the market, shorter selling times, and higher prices for the properties that are listed.</p> <p>But we can predict some effects on the demand side, too.</p> <p>High fees also reduce the net benefit of buying a home, as current buyers expect to be sellers in the future. These costs are likely to be even more pronounced for property investors, who buy and sell property more frequently than homeowners.</p> <p>Anticipation that selling costs will be high in the future could suppress the demand for housing, reducing prices and increasing the time it takes to sell a property.</p> <p>Interestingly, <a href="https://www.nber.org/papers/w32855">recent research</a> from the US suggests that these demand-side effects might outweigh the supply-side effects.</p> <p>Economists studied the impact of a series of court decisions that forced the National Association of Realtors to reduce real estate agent fees. They found lower fees increase the lifetime benefits of homeownership, which leads to a significant increase in house prices.</p> <p>Significantly, that suggests lowering the costs of selling property – including advertising – could increase property values.</p> <h2>Just one part of the housing story</h2> <p>High prices in any area of economic life are likely to rankle our sense of a fair deal. High fees for advertising real estate have an obvious immediate impact on a home seller’s wallet.</p> <p>But the nuanced flow-on effects to the broader housing market are harder to tease out. They are also likely to vary across different property markets within Australia. Commentators and policy makers should think carefully before leaping into action in this area.</p> <p>In the meantime, advertising fees are one more thing to keep an eye on as Australian housing costs continue to rise.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/239111/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/james-graham-1264059">James Graham</a>, Senior Lecturer in Economics, <a href="https://theconversation.com/institutions/university-of-sydney-841">University of Sydney</a></em></p> <p><em>Image credits: Shutterstock </em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/advertising-a-house-is-ridiculously-expensive-in-australia-could-that-be-affecting-the-property-market-239111">original article</a>.</em></p> </div>

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Brave bystanders praised after mass Sydney stabbing

<p>New details have emerged after multiple people were stabbed following a car crash in Sydney's south, on Sunday. </p> <p>Emergency crews were called to the intersection of Princes Highway and Old Bush Road at about 9am after receiving several triple zero calls about a crash. </p> <p>A 58-year-old man, who was known to police for "a number of matters" and suspected of carrying out the wild attacks, was allegedly found running from the scene by officers. </p> <p>He was later pursued on foot, tasered and taken into custody, and remains in Liverpool Hospital in serious condition, as he appeared to have inflicted a number of injuries to himself before the police arrived. </p> <p>A policeman was also injured during the arrest after the alleged offender stabbed him on his arm. </p> <p>A woman in her 40s, was allegedly being assaulted by the man as he drove, and is believed to be the partner of the alleged offender. </p> <p>“They were in a domestic relationship, there is no history that we are aware of, there is no apprehended violence orders between the two but definitely domestic related,” Superintendent Donald Faulds told a press conference on Sunday afternoon. </p> <p>“We believe the female was being assaulted in the car while the male was driving the vehicle at the same time.</p> <p>“A number of witnesses mentioned the car was driving quite erratically at the time and we believe that’s when the assault was occurring in the car and as result they then collided with another vehicle.”</p> <p>The female passenger was transported to hospital and is in a critical condition. </p> <p>Three other people were also injured, after they had rushed over to the accident to help. </p> <p>It is alleged that he had a box-cutter. </p> <p>“A number of members of the community stopped to assist occupants from both those vehicles,” the Superintendent said. </p> <p>“As community members were assisting one of the females out of one vehicle, a male got out of that vehicle. He was armed with what we believe to be a box cutter.”</p> <p>One witness reportedly told radio station 2GB that he saw a man get out of the car appearing to be armed with a box cutter, yelling “I’m going to kill you”.</p> <p>A NSW spokesman said of those injured, one male patient had sustained slash wounds to his arms and his neck and has been taken to Liverpool Hospital and is now in a serious but stable condition. </p> <p>A woman in her 40s was taken to St George Hospital with multiple stab wounds and is in critical condition. Another woman was hospitalised in a serious condition with a stab wound to the abdomen. </p> <p>The police officer sustained a large laceration to his arm and is in a stable condition. </p> <p>Superintendent Faulds praised the brave bystanders who went to assist those in the crash, without knowing what was about to unfold. </p> <p>“Amazing work, they’ve just turned up thinking it was a normal motor vehicle accident so they’ve obviously have gone to render assistance to both people and then they were faced with a male armed with a box cutter, quite frightening but very brave on those peoples’ behalf,” he said. </p> <p>He has asked the community to reach out to Crime Stoppers or Sutherland Police if they have any information about the incident. </p> <p><em>Images: Nine News</em></p>

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Aussie mum with no licence or car fined thousands for traffic offences

<p>An Aussie mum has copped thousands of dollars worth of traffic fines, despite not owning a car or holding a valid driver's licence. </p> <p>Victorian woman Tamara, 32, claims that she has received 16 different infringement notices this year alone in relation to 14 different licence plate numbers, and none of them are hers. </p> <p>The incorrect fines have been sent to her from as far back as 2022. </p> <p>Several of the alleged offences captured on road safety cameras show bearded men behind the wheel. </p> <p>"Clearly, I don't have a beard. The person in the picture is a male. Anyone with eyes can see it's not me," she told A Current Affair. </p> <p>The saga has badly impacted her mental health and she has called on both the police and road officials in the state to overhaul the system to prevent other people from ending up in the same situation as her. </p> <p>The mum fears that her identity or her expired licence number may have been compromised during Optus' mass data breach two years ago.</p> <p>"I am not the driver. I don't drive a vehicle, I don't even have a licence. I have no idea what to think actually because it is unexplainable."</p> <p>"It doesn't make any sense and it shouldn't make any sense in anyone's eyes. It doesn't add up and it's clearly fraudulent."</p> <p>Lawyer Justin Lawrence agrees with the 32-year-old and said that she is entitled to challenge the fines. </p> <p>"There is a system glitch there somewhere and she's entitled to challenge those fines. The system relies on the information that it has. If the information is inaccurate, then the system can't work," he said.</p> <p>Tamara has made a formal complaint to Victoria Police in a bid to clear her name, and they are now working with Fines Victoria to "investigate the circumstances around these incidents and resolve these matters". </p> <p>"Members of the public who believe they have been falsely nominated for a traffic infringement should contact Fines Victoria," a statement from the police read. </p> <p><em>Images: A Current Affair/ Nine</em></p>

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Man arrested over horror crash that left 11-year-old orphaned

<p>A British man has been arrested over a horror crash that left an 11-year-old girl orphaned. </p> <p>Shannen Morgan and Shane Roller have died alongside their two young daughters Rubie, 9, and Lillie, four, when their car collided with a motorbike as the family were travelling home from a walk on Sunday. </p> <p>Christopher Barton, 56, and his wife Janine, 48, who were on the motorbike were also both killed.</p> <p>The couple's son, Lewis, 21 has now been left without his parents, along with Shane and Shannen's 11-year-old daughter Poppie. </p> <p>Shocking pictures taken after the horror crash between Barnsley and Wakefield in northern England, showed the burnt out wreckage of the family's car, who were all declared dead at the scene. </p> <p>Police have confirmed a man has been arrested on suspicion of causing death by dangerous driving, according to <em>The Sun</em>. </p> <p>Poppie managed to escape the tragic accident because she had gone to a friend's house for dinner, and Lewis was on holiday in Thailand when he found out about his parents death. </p> <p>The 11-year-old was being looked after by family friend, Paul Hepple, at the time, and he said that they were just tucking into a roast dinner when the phone rang with the devastating news. </p> <p>“Her mum actually contacted us and asked if we could watch her because she didn’t want to go on the walk that they went on,” he told <em>Mail Online</em>.</p> <p>“She was with our daughter having fun. And on their way home, that’s when the accident happened.</p> <p>“We were having Sunday dinner as a family, and Poppie's aunty was with us and obviously, Poppie was as well. And then she got a phone call and she ended up leaving really quickly to go and see what happened.”</p> <p>Hepple, has set up a <a href="https://www.gofundme.com/f/support-for-poppie" target="_blank" rel="noopener">GoFundMe</a> page for Poppie and has raised almost £380,000 (about $745,000 Australian dollars) to put towards her education, emotional support and future care. </p> <p>The family friend has described Poppie as a “bright and resilient young girl” who has turned to Taylor Swift’s music to find comfort after she “lost her whole world in an instant”.</p> <p>“Despite her unimaginable loss, she shows incredible strength every day,” he wrote on the fundraiser.</p> <p>“Poppie now faces an uncertain future. With her immediate family gone, she needs support to ensure she has a stable, loving environment where she can heal and grow.”</p> <p>Shannen and Shane's devastated friends and family have shared their tributes on social media, vowing to look after Poppie. </p> <p>Shane’s brother Callum said he was “lost for words”, adding: “I’m absolutely heartbroken. I’m gonna miss all of you! You all had a heart of gold. My heart is ripped into a million pieces!”</p> <p>Shannen's friend Chelsea Element wrote: “You are and always will be one of my closest friends.</p> <p>“There are no words to describe the utter loss this has created for family/friends and the community around us. I hope you’re at peace Shannen Morgan and Shane Roller, with your beautiful girls.</p> <p>“Everyone will always look after Poppie, she will never want for anything she has the love of everyone.”</p> <p>Her cousin Beth Brittain said: “My heart just hurts my brain won’t accept what’s happened.</p> <p>“Shannen you were always my extra sister not just my cousin, we grew together. I just can’t speak. No words. Sleep tight my little Roller family your memory will live on for eternity.”</p> <p>Christopher and Janine’s son Lewis, is believed to have flown home immediately after finding out about his parents death. </p> <p>The couple had recently celebrated their 25th wedding anniversary, according to West Yorkshire Police, and they were just 20 minutes from home when the devastating accident occurred. </p> <p>In a tribute released through the police, the couple were described by their son as “a loving, caring mum and dad who always put me before everything else”.</p> <p>Superintendent Alan Travis of Wakefield District Police has urged anyone who has dashcam, doorbell or CCTV footage of the car to contact them and assist with their investigation. </p> <p>They have also issued a public plea for anyone who saw a grey coloured Porsche 911 at the time of the crash to come forward. </p> <p>“This is an absolutely tragic incident which has resulted in the loss of six lives," the Superintendent said. </p> <p>“Our thoughts go out to the families of those who have died who we are working with to provide support at this time.”</p> <p><em>Images: news.com.au</em></p> <p> </p>

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Brand Olympics: do the famous rings deliver value to host countries?

<div class="theconversation-article-body"><em><a href="https://theconversation.com/profiles/steven-greenland-2064">Steven Greenland</a>, <a href="https://theconversation.com/institutions/charles-darwin-university-1066">Charles Darwin University</a> and <a href="https://theconversation.com/profiles/robert-joseph-gill-1530152">Robert Joseph Gill</a>, <a href="https://theconversation.com/institutions/swinburne-university-of-technology-767">Swinburne University of Technology</a></em></p> <p>The cost of hosting Paris 2024, the 33rd Olympics, is predicted to be <a href="https://www.reuters.com/world/europe/paris-lean-olympics-wont-blow-any-budgets-credit-rating-firm-sp-says-2024-03-11/">more than A$14 billion</a>.</p> <p>So what’s in it for the French?</p> <p>Will this oldest of sporting events shine for them, or as has happened with some previous Olympics, will it prove to be <a href="https://www.abc.net.au/news/2021-08-07/what-japan-learned-from-olympic-white-elephants/100329488">a massive white elephant</a>?</p> <h2>The power of the five rings</h2> <p>The Olympic brand is <a href="https://olympics.com/ioc/news/the-olympic-brand-maintains-its-global-strength-and-recognition">massively powerful</a> and gives the host nation a global platform to strengthen their international reputation and standing.</p> <p>The Olympic brand heritage goes back 2,800 years to southern Greece, when games were held to honour the Greek god Zeus at Olympia. Starting in 776 BC, these ancient games were held every four years and continued for more than 1,000 years.</p> <figure><iframe src="https://www.youtube.com/embed/VdHHus8IgYA?wmode=transparent&amp;start=11" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption><span class="caption">The Olympics began as part of a festival honouring Zeus in the rural Greek town of Olympia.</span></figcaption></figure> <p>The modern Olympics began in 1896 in Athens. Since then, the games have been hosted in 23 cities and 20 countries.</p> <p>Paris 2024 will welcome around 10,500 athletes from more than 200 countries <a href="https://olympics.com/en/paris-2024/sports">competing in 32 different sports</a>. Around <a href="https://www.euromonitor.com/press/press-releases/nov-2023/olympic-games-2024-set-to-boost-tourism-spending-in-paris-by-up-to-eur4-billion-euromonitor-international">4 billion people will watch on</a> around the globe.</p> <p>The Olympics’ five rings (<a href="https://discover.sportsengineplay.com/olympics/history-of-they-rings#:%7E:text=They%20first%20appeared%20in%201913,to%20accept%20its%20fertile%20rivalries.">created by Frenchman Pierre de Coubertin 110 years ago</a>) is one of the most recognised logos on the planet.</p> <p>It represents unity across the five continents (Africa, the Americas, Asia, Europe and Oceania).</p> <p>It is this familiarity and <a href="https://www.emerald.com/insight/content/doi/10.1108/INTR-07-2018-0324/full/html">positive Olympic brand associations</a> – which include excitement, fairness and being elite – that some argue justifies the billions spent.</p> <p>Host nations hope this Olympic sparkle rubs off on their nation’s reputation – but that’s not always the case.</p> <h2>Benefits of hosting an Olympics</h2> <p>Broadcast rights, sponsorships and advertising from organisations that want to be associated with the Olympic brand can <a href="https://olympics.com/ioc/funding">generate huge revenue streams</a>.</p> <p>The Olympic brand adds considerable value for sponsors and advertisers, and there are also benefits that France (and the world) will gain long after the event.</p> <p>Responsible marketing and attracting sponsors that complement Olympic brand values can <a href="https://www.tandfonline.com/doi/full/10.1080/0965254X.2023.2230487">promote positive, sustainable attitudes and behaviour</a>. Examples of this include promoting unity, a sense of national pride, and social and health gains from <a href="https://theconversation.com/does-sports-participation-boom-during-or-before-or-after-the-olympics-227773">increased sports participation</a>.</p> <p>The event also generates huge revenue from domestic and international tourism – 15 million spectators are anticipated for Paris 2024. Most are locals and domestic day trippers but <a href="https://www.euromonitor.com/press/press-releases/nov-2023/olympic-games-2024-set-to-boost-tourism-spending-in-paris-by-up-to-eur4-billion-euromonitor-international">around 3 million additional visitors</a> are expected in Paris during the games.</p> <p>Increased infrastructure and updated civil works as a result of the city getting ready for the Olympics provides many lifestyle benefits: a reinvigorated host city can benefit from upgraded transport, accommodation, hospitality, sports facilities and streetscapes.</p> <p>Other significant benefits relate to strengthening the host country’s geographic and cultural brand. For France, this includes reinforcing and promoting many of its registered geographic indicator products that relate mainly to wine, agricultural products and foodstuffs, as well as spirits and beers.</p> <p>Champagne is perhaps the most widely recognised geographic indicator product. It illustrates how connection to its place of origin assures consumers about regional and French cultural values and <a href="https://theconversation.com/whats-in-a-name-quite-a-lot-if-its-prosecco-parmesan-or-mozzarella-209505">the products’ characteristics and quality</a>.</p> <h2>What about the pitfalls?</h2> <p>Many Olympics have failed to turn a profit, meaning countries and citizens are <a href="https://www.tandfonline.com/doi/full/10.1080/02665433.2019.1633948">left to pay off debts</a> for decades after the event (for example, Rio, <a href="https://www.theguardian.com/cities/2016/jul/06/40-year-hangover-1976-olympic-games-broke-montreal-canada">Montreal</a>, Beijing and Athens).</p> <p>Also, many cities are left with <a href="https://theconversation.com/looking-back-at-the-olympic-venues-since-1896-are-they-still-in-use-229606">purpose-built infrastructure</a> created specifically for the games but left idle afterwards, including athlete accommodation, aquatic centres and major stadiums.</p> <p>What will determine the success of Paris 2024 and justify the massive investment in hosting the event?</p> <figure><iframe src="https://www.youtube.com/embed/_m1x5JaC37E?wmode=transparent&amp;start=0" width="440" height="260" frameborder="0" allowfullscreen="allowfullscreen"></iframe><figcaption><span class="caption">Is hosting the Olympics worth the investment?</span></figcaption></figure> <p>The success of the Olympics for the host is often determined by the financial revenue it can generate. The Olympic brand plays a significant role in generating this financial support.</p> <p>However, the brand’s reputation can be tarnished by issues leading up to and during the games, which may reduce the positive impacts.</p> <p>The Olympic brand’s reputation can be affected by issues like:</p> <ul> <li> <p>high-profile athletes and national teams cheating or doping</p> </li> <li> <p>world sporting authorities placing restrictions on competitors <a href="https://www.insidethegames.biz/articles/1143198/restrictions-transgender-paris2024-games">based on gender and status</a></p> </li> <li> <p>incompatible sponsors jumping on the Olympic bandwagon. For example, manufacturers of harmful products whose negative brand associations could tarnish the Olympic brand, such as <a href="https://www.tandfonline.com/doi/full/10.1080/0965254X.2023.2176532">soft drink and alcohol sponsors</a></p> </li> <li> <p>negative publicity associated with unethical practices of host and participating countries <a href="https://www.adweek.com/brand-marketing/sports-politics-brands-volatile-mix-olympic-games/">with human rights issues</a>. This includes others using the event to publicise these</p> </li> <li> <p>politicising the event – including “<a href="https://theconversation.com/is-saudi-arabia-using-sportswashing-to-simply-hide-its-human-rights-abuses-or-is-there-a-bigger-strategy-at-play-208468">sportswashing</a>”, protests, boycotts and image protection, as seen with <a href="https://www.tandfonline.com/doi/full/10.1080/13216597.2017.1347101">China</a>, <a href="https://www.washingtonpost.com/kidspost/2021/12/16/us-protest-olympics-is-nothing-new-politics-have-been-mixed-with-sports-decades/">the United States</a>, and <a href="https://olympics.com/ioc/news/declaration-by-the-ioc-against-the-politicisation-of-sport">Russia</a></p> </li> <li> <p>unforeseeable events – the COVID pandemic delayed the Tokyo games and <a href="https://www.reuters.com/business/media-telecom/money-money-money-cost-tokyos-pandemic-delayed-olympics-2021-06-10/#:%7E:text=Organisers%20said%20last%20December%20that,has%20risen%20to%20%243%20billion">pushed the cost to A$18 billion</a></p> </li> <li> <p>other negative associated risks for the host city such as <a href="https://theconversation.com/will-the-paris-olympics-be-a-terrorist-target-these-three-factors-could-be-key-229110">terrorism</a>, <a href="https://theconversation.com/extreme-heat-is-a-killer-for-outdoor-sporting-events-lets-plan-properly-to-keep-everyone-safe-229998">heat waves</a>, and civil unrest.</p> </li> </ul> <h2>Fingers crossed for France</h2> <p>With close to half the world watching Paris 2024, France’s National Olympic Committee will be anxiously hoping for positive outcomes to ensure a strong return on the A$14 billion invested. But since Sydney 2000, virtually every games host has suffered <a href="https://www.cfr.org/backgrounder/economi">significant financial blowouts</a>.</p> <p>For their sake, and the Olympics’ reputation, let’s hope the Paris games sparkle - or we may be left with a very limited number of potential future hosts with very deep pockets.<!-- Below is The Conversation's page counter tag. Please DO NOT REMOVE. --><img style="border: none !important; box-shadow: none !important; margin: 0 !important; max-height: 1px !important; max-width: 1px !important; min-height: 1px !important; min-width: 1px !important; opacity: 0 !important; outline: none !important; padding: 0 !important;" src="https://counter.theconversation.com/content/228497/count.gif?distributor=republish-lightbox-basic" alt="The Conversation" width="1" height="1" /><!-- End of code. If you don't see any code above, please get new code from the Advanced tab after you click the republish button. The page counter does not collect any personal data. More info: https://theconversation.com/republishing-guidelines --></p> <p><em><a href="https://theconversation.com/profiles/steven-greenland-2064">Steven Greenland</a>, Professor in Marketing, <a href="https://theconversation.com/institutions/charles-darwin-university-1066">Charles Darwin University</a> and <a href="https://theconversation.com/profiles/robert-joseph-gill-1530152">Robert Joseph Gill</a>, Associate Professor in Media and Communication, Swinburne University of Technology, <a href="https://theconversation.com/institutions/swinburne-university-of-technology-767">Swinburne University of Technology</a></em></p> <p><em>Image credits: Artur Widak/NurPhoto/Shutterstock Editorial </em></p> <p><em>This article is republished from <a href="https://theconversation.com">The Conversation</a> under a Creative Commons license. Read the <a href="https://theconversation.com/brand-olympics-do-the-famous-rings-deliver-value-to-host-countries-228497">original article</a>.</em></p> </div>

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