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ASX to rise as Sydney Harbour icon to get $43 million makeover

·Personal Finance Editor
·2-min read
NSW Premier Dominic Perrottet and the ASX board showing company price changes.
The ASX is expected to rise this morning and a Sydney Harbour staple is set for a multi-million dollar boost. (Source: Getty)

ASX: The local market is expected to rise this morning after Wall Street managed to snap a losing streak over the weekend.

This comes after the Australian share market closed at a three-week high after enjoying its best performance all week on Friday.

Wall Street: US stocks jumped on Friday, with the major indexes ending a weeks-long losing streak after a string of more upbeat corporate results.

Crypto: The crypto faithful shouldn't expect Bank of America to make a major push into the sector anytime soon.

BoA CEO Brian Moynihan simply replied with a strict "No", when asked at the World Economic Forum whether he felt like the company was missing out on the next big thing.

Politics: Former defence minister Peter Dutton will become the first Queenslander to lead the Liberal Party.

The Dickson MP is tipped as Scott Morrison's likely replacement when the party meets today, with Sussan Ley seeking to become the deputy leader.

Meanwhile, Finance Minister Katy Gallagher says Labor has inherited a serious set of economic and budget challenges, but will take tough decisions while also focusing on cost-of-living issues.

Gallagher said she would like to see a cap put on the amount of money funnelled into election campaigns after enormous sums were again splashed on the federal poll.

Data drop: If economists are right, Wednesday's national accounts will provide Treasurer Jim Chalmers with plenty of ammunition for another crack at the former Coalition government.

After six weeks of campaigning on its economic management and a strong economy, the latest growth figures look set to fall well short of what former prime minister Scott Morrison and his team were spruiking.

Car share: Utility bills and food prices rising out of hand and the cost of owning and maintaining a car for an average suburban household is as much as $18,500 a year - made even more expensive with fuel worth more than $2 a litre.

The solution? More Aussies are turning to car sharing than ever before.

Traditional owners: A Sydney Harbour island is returning to Aboriginal hands with the NSW government committing $43 million to its clean-up and repair.

The transfer of Me-Mel, or Goat Island, to its traditional owners is a "personal priority", NSW Premier Dominic Perrottet said on Sunday.

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