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ASX to rise as Aussie telcos forced to trace certain texts

·Personal Finance Editor
·2-min read
The ASX board showing company price changes and a person texting on a smart phone.
The ASX is expected to rise this morning as Aussie telcos will be forced to crack down on SMS scams. (Source: Getty)

ASX: The local market is expected to lift at the open despite a negative session on Wall Street overnight.

This comes after the Australian share market moved lower yesterday ahead of a busy week of economic data that could clear the way for more aggressive interest rate hikes.

Wall Street: US stocks fell sharply on Monday, led by losses in shares of technology companies as investors braced for the start of earnings season and fresh inflation data due out Wednesday.

Clean energy: Prime Minister Anthony Albanese will urge greater investment in renewable energy throughout the Indo-Pacific as a means of addressing climate and economic issues.

In a speech at the Sydney Energy Forum today, Albanese will call for more people in the energy sector to work together on clean energy investments in a bid to help reach net-zero targets.

Prevention: Aussie telcos will be required to identify, trace and block SMS scams as part of new rules designed to protect customers.

A new code registered by the communications watchdog has been set up in response to the growing number of SMS scams.

Data drop: Consumer fears over inflation and interest rates could be highlighted in the latest economic data as households weigh cost-of-living concerns against a booming jobs market.

The Australian Bureau of Statistics will release household-spending figures for May today after the previous monthly figures showed expenditure was up 7.6 per cent through the year.

UK leader: Britain's new prime minister will be announced on September 5, with the first votes coming this week to begin eliminating candidates in a crowded and increasingly unpredictable contest to replace Boris Johnson.

Twitter v Musk: How did a US$44 billion deal turn into a horror show?

The deal crumbled on Friday when the Tesla and SpaceX CEO, Elon Musk, announced via a Securities and Exchange Commission filing that he was terminating the buyout of the social media platform.

- With AAP

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