ASX to slide as McDonalds told to pay up

McDonalds has been told to pay up. Image: Getty

Good morning.

Here’s Yahoo Finance’s Monday morning wrap.

ASX: The ASX is expected to open lower on Tuesday after Wall Street’s mixed session. The ASX on Monday finished down 0.22 per cent.

Wall Street: The S&P 500 finished lower on Monday local time, but still saw a record August gain as vaccine hopes and a tech rally pushed stocks higher. The Dow Jones Industrial Average fell 223.82 points, or 0.78 per cent, to close at 28,430.05 overnight, the S&P 500 lost 7.7 points, or 0.22 per cent, to 3,500.31 and the Nasdaq Composite added 79.82 points, or 0.68 per cent, to 11,775.46.

Tax mistake: Some tax errors will slap you with a fine, while the Australian Tax Office is more forgiving of others. But one fairly innocuous mistake can land you in jail, if you make it often enough.

Rental market: Just one per cent of rental listings around the country are affordable for Australians living on JobSeeker payments, a new survey from Anglicare Australia has revealed.

"If the government goes ahead with planned cuts and if age and disability pensioners are left out, renters will be pushed deeper into poverty and homelessness," Anglicare Australia executive director Kasy Chambers said.

Millionaire: So you want to be a millionaire Here are the four daily habits you’ll need to pick up now.

Job outcomes: The Government has plans to more than double the cost of some humanities courses, amid claims those courses don’t deliver as many job-ready graduates. However, the latest Graduate Outcomes Survey shows humanities graduates are securing work at practically the same rate as science and mathematics graduates.

Wages: Wages and salaries have fallen 3.3 per cent over the June quarter - the largest amount during the coronavirus pandemic. It comes as business made record profits with the Australian Bureau of Statistics showing company profits soaring 15 per cent at the same time.

Universal childcare: Julie Bishop has thrown her weight behind calls for universal and high quality childcare for all families. The group, 'Thrive by Five' believes hundreds of thousands of parents could go back to paid work if childcare was more affordable.

Maccas: A Queensland McDonalds has been told to pay a former employee $1,000 after denying her all but three of the 10-minute breaks she was entitled to over her more than two years at the business.

RBA: The Reserve Bank of Australia will hold its September meeting today and is expected to keep rates on their record low. The meeting comes a day before the June quarter national accounts, with economists and the Federal Treasurer bracing for the GDP figures.

Have a great day.

With AAP.

Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.

Follow Yahoo Finance Australia on Facebook, Twitter, Instagram and LinkedIn.