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ASX up, hack attack and 4 other things to start your day

If you’re planning on buying your first home, you will be saving for a while, and Amazon has announced even more job cuts.

A composite image of the ASX board showing company price changes and someone using a keyboard.
The ASX is expected to rise today and Latitude Financial has issues a hack warning. (Source: Getty)

ASX

The local share market is expected to rise this morning after Wall Street got a boost last night as markets reacted to the UBS takeover of Credit Suisse.

Hack attack

Latitude Financial fears the cyber attack on its system could be worse than first thought and is not taking on new customers. More than 330,000 customer records and identity documents were stolen last week.

In an announcement to the ASX yesterday, the financial services company warned it was bracing for the full scale of the attack to widen.

Climate crisis

Samoa's prime minister is urging Australia to raise on the global stage the plight Pacific island nations face.

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Fiame Naomi Mata'afa said more needed to be done to combat climate change as she called on the government to ensure regional perspectives remained on the agenda.

Deposit times

The sinking property market, bolstered wages and higher interest rates on savings accounts have shaved months off the time it takes to save a deposit on a first home.

Domain analysis found the impact of these factors wiped six months off the deposit-saving period needed to buy the standard, entry-level house, compared to this time last year.

However, it would still take the average young couple six years and eight months to save for a home in Sydney.

Guilty again

Embattled casino operator Star Entertainment has pleaded guilty to new charges of breaching Queensland's Casino Control Act.

Brisbane's Treasury Casino and the Star Gold Coast operator pleaded guilty to seven charges relating to purchasing gambling chips with a credit card.

Job cuts

Amazon plans to eliminate 9,000 more jobs in the next few weeks, CEO Andy Jassy told staff in a memo.

The job cuts would mark the second-largest round of lay-offs in the company's history, adding to the 18,000 employees the company said it would lay off in January.

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