Yahoo Finance ASX down, eye-watering sub deal and 5 other things to start your day
ASX:
The local share market is expected to take a dive this morning despite a relatively positive session on Wall Street overnight.
Sub deal:
Australia will acquire three US-built nuclear submarines by around 2033 and eventually build five UK-designed subs around a decade later.
The cost to taxpayers will come in at an eye-watering $268 billion to $368 billion over the next three decades. The plan will take $9 billion from the budget's bottom line across the next four years and $50 billion to $58 billion over the next decade.
Oh no:
Mortgage holders are being warned to brace for at least two more interest rate rises despite a softening tone from the Reserve Bank (RBA) on the cash rate.
The RBA lifted the official rate to 3.6 per cent last week, the 10th month in a row it's gone up.
Break can wait:
Four in five Aussie holidaymakers are reconsidering their travel plans due to the rising cost of living.
Research conducted by YouGov found that, while 87 per cent of Australians planned to travel at some point this year, 83 per cent said they would need to rein in spending.
Major savings:
Aussies could cut their household energy bills by $1,700 if they swapped a petrol car for an electric vehicle, but only if the car was charged at the right times.
The prediction is one of several expected at the Sydney Innovation Summit, held today by Schneider Electric, in an effort to address how Australia can achieve its target of net-zero emissions by 2050.
Disaster response:
As Australians battle, yet another natural disaster, this time floods in the far north, a federal parliamentary committee has examined the nation's preparedness, response and recovery.
But the Australian Defence Force - usually tasked with response and recovery in natural disasters - warns its workforce cannot meet the increasing demand for support.
Money laundering:
A Brisbane woman allegedly laundered money by transferring almost $2.4 million for email hackers who targeted businesses across Australia, a jury has heard.
Rosse Eckl faced the first day of her two-week money-laundering trial in Brisbane’s Supreme Court on Monday after pleading not guilty to five counts of dealing in the proceeds of crime in amounts ranging from around $1,000 to more than $1 million.
Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to our free daily newsletter.
