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ASX to rise as Telstra repays $11 million to 67,000 customers

·Personal Finance Editor
·2-min read
The ASX board showing company price changes and a Telstra logo in the Telstra store.
The ASX is expected to rally this morning as Telstra repays customers $11 million. (Source: Getty)

ASX: The local market is expected to rise this morning after Wall Street rallied overnight.

This comes after the local share market lost ground in yesterday’s session after being unable to crack a key resistance level.

Wall Street: US stocks ended sharply higher on Thursday after a comeback from recent selling gained momentum and placed markets on track to snap a seven-week losing streak.

Crypto: ​​NFT (non-fungible token) sales have plunged overall this year, with smaller, lesser-known NFTs getting crushed.

But bigger brand names are holding up a bit better, an expert said.

Foreign friends: France and Australia are ready to rebuild their bilateral relationship after the Morrison government angered officials in Paris by ditching a submarine-procurement contract between the two countries.

Meanwhile, Foreign Minister Penny Wong pledged Australia would strive to be a better partner to Pacific island nations and that it wouldn't come with strings attached.

Telstra error: Telstra has paid more than $11 million to thousands of customers after failing to follow industry compensation rules.

The telecommunications giant admits an IT error meant it failed to accept it was liable to pay compensation within a 14-day time limit on more than 67,000 occasions between 2017 and 2021.

Bill shock: Turning on a heater in winter doesn't have to be a luxury for families struggling to pay the bills, with the NSW government stepping in to provide some financial relief.

Households experiencing difficulty paying their energy bills will be able to access up to $1,600 a year in support payments from next week, Treasurer and Energy Minister Matt Kean said.

Drinking problem: The number of calls to alcohol support services in 2021 was triple that made before the COVID-19 pandemic.

A new report from the Foundation for Alcohol Research and Education blames the surge on higher levels of stress and anxiety, as well as boredom and isolation during lockdown.

Strike: Thousands of teachers at more than 500 Catholic schools across NSW and the ACT will go on strike today as they call for pay increases and better conditions.

Teachers will march from Sydney's Town Hall to the head office of the Catholic Archdiocese of Sydney from 10:00am, one of several rallies taking place around NSW and Canberra.

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