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ASX to rise as Kim Kardashian joins US company

·Personal Finance Editor
·2-min read
The ASX board showing company price changes and Kim Kardashian at the Met Gala.
The ASXis expected to rise this morning as Kim Kardashian takes on a surprising new job. (Source: Getty)

ASX: The local market is expected to open in the green this morning after US markets were mixed overnight.

This comes after the Australian share market couldn't hang onto early gains yesterday, fading on fears COVID-19 lockdowns hurt economic growth in China.

Wall Street: US stocks were mostly lower on Tuesday after social media giant Snap logged its biggest one-day drop on record and dragged down shares of technology peers.

Chip shortage: The CEO of Intel has given a stark outlook for when the semiconductor shortage - which has been affecting the manufacturing of everything from cars to PCs - will end.

Speaking at the World Economic Forum, Pat Gelsinger said he expected the shortage to continue through next year and into 2024.

Quad meeting: Anthony Albanese will immediately get to work on Labor's priorities - including climate and child care - when he returns from Japan.

The Prime Minister was in Tokyo meeting with US president Joe Biden, Indian prime minister Nahrendra Modi and Japanese prime minister Fumio Kishida at the Quad summit.

RBA: Economists will be listening intently to a speech by one of the Reserve Bank of Australia's top economic officials for any clues to the likely speed of interest rate hikes in coming months.

RBA assistant governor for economics Luci Ellis will address the Urban Development Institute of Australia 2022 national conference in Sydney today on "Housing in the Endemic Phase".

Star casino: Outgoing Star Entertainment chair John O'Neill reassured casino top brass that the gambling company was doing "covert" work in a bid to stop public hearings into allegations of mismanagement, the inquiry has been told.

The inquiry is probing Star after allegations it enabled suspected money laundering, organised crime, fraud and foreign interference at its venues, including its Sydney casino.

Not happy, Jan: Poor customer service and billing issues have been blamed for a recent rise in phone and internet complaints nationwide, according to a new report.

More than 22,000 complaints were lodged to the telecommunications industry ombudsman between January and March, marking an increase of 21 per cent compared to the previous quarter.

Star power: Beyond Meat is looking to "keep up”.

The plant-based-meat maker revealed that reality TV icon and billionaire Kim Kardashian would serve as its "chief taste consultant".

Kardashian will also star in a new campaign focused on the brand's mission of health and sustainability.

- With AAP

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