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ASX up as Aussie renters hit hard

·Yahoo Finance Editor In Chief Australia
·2-min read
Renters are struggling to stay warm amid a cost-of-living crisis. (Source: Getty)
Renters are struggling to stay warm amid a cost-of-living crisis. (Source: Getty)

The local market opened higher this morning after Wall Street climbed overnight. This is your Tuesday morning wrap.

ASX: The local share market has opened higher this morning after finishing in the green yesterday as investors digested a spate of earnings reports and a $1 billion takeover offer.

Wall Street: Wall Street climbed overnight, adding to recent gains with shares of Apple Inc climbing to 0.6 per cent, Microsoft Corp up 0.5 per cent and Tesla Inc jumping 3.1 per cent, boosting hopes for an economic soft landing.

Rising energy costs: Rising energy costs are the latest problem for renters living in "brutal" conditions over winter, research shows.

The report released today revealed many rental homes were routinely below safe temperature levels, and called for Australian governments to introduce minimum energy-efficiency standards for rentals.

Cashless credit card: A parliamentary committee is examining a proposal by the Albanese Government to abolish the cashless debit card,which would shift more than 17,000 welfare recipients away from the scheme.

Stolen NAB millions: A former corporate high-flyer has pleaded not guilty to using millions of dollars in funds scammed from Big Four bank NAB to pay bribes and fuel her personal life, including holidays, cars and gifts to family and friends.

Regional jobs: Boosting regional employment will be on the agenda when Regional Affairs Minister Catherine King meets virtually with industries, unions and peak bodies today for the first of four roundtable discussions taking place before the September jobs summit.

Teacher brain drain: Keeping teachers in schools has become a national agenda item as a NSW parliamentary committee continues to scrutinise the cause of a brain drain in the state.

A second public hearing into the state's chronic teacher shortage will be held today after a survey of NSW teachers revealed 60 per cent said they planned to leave the profession in the next five years.

Wheat for the win: If nuclear war broke out, Australia may be the best place to survive.

Researchers have analysed the impact nuclear weapon detonation would have on global food supply, finding massive fires and soot in the atmosphere would lead to food shortages and famine.

In almost all countries, livestock and aquatic food production would be unable to compensate for reduced crop output. But Australia would have enough food to be self-sufficient.

– With AAP

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