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ASX to fall as Aussie telco to pay $300,000

·Personal Finance Editor
·2-min read
The ASX board showing company price changes and a person removing $100 from a wallet.
The ASX is expected to fall out of the gates this morning as a telco gears up to repay customers. (Source: Getty)

ASX: The local market is expected to fall this morning after US stocks closed in the red overnight.

This comes after gains in the commodities sector kept the local share market from losing ground yesterday. The ASX managed to claw its way back into positive territory after falling out of the gates.

Wall Street: US stocks closed near flat on Monday after giving up earlier gains as investors approached the final stretch of earnings season and braced for a busy week of inflation data.

Pay boost: The Federal Government has backed a pay rise for aged care workers, outlining to the Fair Work Commission support for an increase in the minimum wage in the sector.

While unions are asking for a 25 per cent pay rise for aged care workers, Acting Prime Minister Richard Marles said the exact number was for the independent commission to decide.

Health workers: A shortage of allied health workers across the country could put Australians living with a disability at risk of slipping through the cracks, a report conducted by the peak body for disability said.

High staff turnover rates, lack of permanent work and reduced hours are contributing to a worker shortage in the sector.

Telco fine: A telco that pledged to stand up for its customers is facing nearly $300,000 in penalties and compensation after exposing consumers to identity fraud.

Digital telco Circles.Life was fined $199,800 by the communications watchdog for failing to conduct proper identity checks when transferring mobile phone numbers to its services.

The company will also pay more than $100,000 in compensation to consumers who had their services compromised by scammers as a result of its failure to follow the rules.

Food security: Scientists have made a major discovery about the way plants control water loss and it could have profound benefits for food security during climate change.

The accepted school of thought was that plants primarily limit water loss by closing tiny pores in the skin of their leaves.

But Australian scientists have discovered some important cropping plants have another way to control water loss.

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