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ASX up, Medicare overhaul and 3 other things to start your day

A composite image of the ASX board showing company price changes and a sign with the medicare logo.
The ASX is expected to rise this morning as Medicare faces and overhaul. (Source: Getty)

ASX: The local share market is expected to rise when it opens despite pretty major drops on Wall Street overnight.

Medicare: In a rare case of solidarity, Victoria and New South Wales have banded together to ramp up pressure on the Federal Government to overhaul Medicare.

Victorian Premier Daniel Andrews said state-run hospitals were too often acting as a safety net because of an ongoing shortage of bulk-billing general practitioners.

"That system is broken,” Andrews said.

“You cannot find a bulk-billing doctor, particularly out of hours, and that's not the way it should be. That's why this needs to be a key priority for reform around the national cabinet table in 2023.”

Population: COVID wiped more than 1 million people from Australia's 10-year population forecasts.

The population will be around 4 per cent smaller than expected in a decade due to the slowdown in migration as well as the COVID-induced blip in the fertility rate.

Record-low migration during the pandemic will also feed into a lower birth rate overall as there will be fewer migrants having children.

FTX arrest: Sam Bankman-Fried pleaded not guilty to eight different counts of wire fraud, securities fraud, and conspiracy before a US federal court overnight.

US prosecutors allege that, under Bankman-Fried’s direction, FTX - once considered one of the largest and most-trusted cryptocurrency exchanges - transferred billions in customer assets to his trading firm, Alameda Research.

If convicted, Bankman-Fried faces up to 115 years in prison.

Big cash: Cricket officials and the Seven Network ended years of bickering on Tuesday, with the free-to-air network to continue broadcasting the sport until 2030-31.

The seven-year deal with Seven and Foxtel is worth $1.512 billion for Cricket Australia, representing a 10 per cent increase on the previous contract.

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