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ASX down, rate pain to rise and 5 other things to start your day

The ASX board showing company price changes and RBA governor Philip Lowe.
The ASX is expected to fall this morning as the RBA gears up to hikes rates again next week. (Source: Getty)

ASX: The local share market is expected to fall this morning after US stocks finished lower overnight.

Energy prices: Queensland and NSW premiers have laid down the law when it comes to energy price caps.

The premiers have listed their demands as the Federal Government scrambles to reach national consensus on a plan to cut skyrocketing energy prices.

Rate pain: Aussies shouldn’t bank on the RBA pausing rate hikes as an early Christmas present, experts have warned.

Most economists expect another 0.25 per cent rate hike before Christmas but opinions on cash rate movements in the new year are divided.

Workplace laws: A war of words is raging over whether workers have just been given the best Christmas gift in more than a decade or if businesses have had their stockings stuffed with coal.

Labor said the passage of its major workplace reforms was a win for workers, saying it would put upwards pressure on wages after a decade of stagnation.

Job cuts: HSBC has reportedly cut as many as 15 per cent of its 2,000 senior operations managers worldwide as it attempts to streamline its management and reduce costs, two sources familiar with the matter revealed.

Tech wars: Spotify has joined Elon Musk in taking aim at Apple over its App Store practices.

In a Twitter post, Spotify CEO Daniel Ek said Apple was “shameless in their bullying”.

“How much longer will we look away from this threat to the future of the internet? How many more consumers will be denied choice? There’s been a lot of talk. Talk is helpful but we need action,” he wrote.

Vroom vroom: While inflation has taken a bite out of household budgets around the world the ultra wealthy have not slowed down their spending - or at least that's what Lamborghini said.

The luxury car maker reported it was selling more cars than it was able to produce despite having increased production twice this year.

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