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ASX to rise as uni students' funding on the line

·2-min read
Why you could lose your HECS funding. Images: Getty
Why you could lose your HECS funding. Images: Getty

Good morning.

Here’s your Yahoo Finance Thursday morning wrap:

Stocks: The ASX200 is set to open higher on Thursday after reaching 6,122.70 points on Wednesday afternoon. Futures are pointing to an increase of around 0.7 per cent this morning.

Wall Street: US share markets finished stronger on Wednesday local time, with the S&P 500 nearly hitting a new record as tech stocks led markets higher.

TAFE: TAFE education puts $92 billion into the Australian economy every year, a new report calling for a funding increase has found.

"Right now, what Australian workers need in a post-COVID economy is high-quality vocational education from the trusted public provider, TAFE," Australian Education Union federal president Correna Haythorpe said.

Uni blow: On the other hand, university students who fail half of their first year classes could lose government financial support under a new bill. Education Minister Dan Tehan said pulling the pin on student funding would stop students from taking on an unfeasible course load.

Robots: Will they take our jobs? According to the Australia Institute's Centre For Future Work, the answer is ‘no’. But this might not be good news for job security, the report continued, warning more jobs will be in low-wage industries in the future.

Unemployment: July unemployment figures are due out this morning, with economists predicting a small rise in employment. Despite this, the unemployment rate is expected to climb from 7.4 per cent to 7.8 per cent.

Tax return: Most Australians own a smartphone, and as such it’s getting harder to draw the line between home and work, says H&R Block tax communications director Mark Chapman. Here’s how to get the best claim on your mobile phone.

US deficit: The US budget deficit is now at an eye-watering AU$3.9 trillion - the largest budget shortfall ever recorded for America.

Highest-paid CEO: Australia’s highest-paid CEO isn’t Qantas’ Alan Joyce, nor is it Domino’s chief Don Meij. Here’s who it is.

Jackie O: And she may not be Australia’s highest-paid CEO, but radio star and tv personality Jackie O is still raking it in. The star is allegedly earning $1 million for her time on The Masked Singer, currently airing on 10.

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