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ASX to open flat as Qantas hauled to High Court

Jessica Yun
·2-min read
SYDNEY, AUSTRALIA - NOVEMBER 18: Qantas flight number QF734 from Adelaide to Sydney lands at Kingsford Smith Airport on November 18, 2020 in Sydney, Australia. Extra health screenings have been introduced for travellers into Sydney from South Australia following a COVID-19 cluster outbreak in Adelaide. (Photo by James D. Morgan/Getty Images)
Unions are taking Qantas to the High Court. (Photo by James D. Morgan/Getty Images)

Good morning.

Here’s Yahoo Finance’s Wednesday morning wrap:

ASX: The Australian share market is set to a muted start, with Wall Street subdued as investors held off big bets ahead of earnings season.

Wall Street: The Dow and Nasdaq are up, but only just, at 0.2 and 0.18 per cent respectively; meanwhile, the S&P 500 is essentially unchanged. Yahoo Finance US reporter Emily McCormick has live updates.

Qantas is being hauled to the High Court by a team of unions which allege that the airline manipulated rosters in order to keep a slice of JobKeeper payments. It comes after a December ruled in favour of Qantas, finding that it was allowed to use penalty rates paid in arrears to offset the amount of wage subsidies directly passed to employees. Here’s more.

Parliamentarians are expected to tell the truth. But Liberal MP Craig Kelly and the Nationals' George Christensen have shared misinformation via Facebook about COVID-19, criticising masks and lockdowns, and promoting hydroxychloroquine as a coronavirus treatment. Acting Prime Minister Michael McCormack and Health Minister Greg Hunt have refused to publicly condemn the pair. More here.

What can we learn from previous property downturns? Metropole Strategists CEO and Yahoo Finance contributor Michael Yardney distills 10 takeaways that we can bring into 2021. Here’s what they are.

Is this another sign of an improving economy? According to research by CreditorWatch, 15 out of 19 industry groups said the time it took to pay their bills had reduced.

But this can’t be good: businesses that folded and had to call in administrators rose by more than 23 per cent in December. Most of these businesses were in retail, hospitality, tourism and education, says CreditorWatch chief executive Patrick Coghlan.

Jobs 2021: Let this year be the year you use your career to build wealth. Women’s Agenda founding editor Angela Priestley shares the secrets to this that anyone can learn and do.

ICYMI: Ben & Jerry’s has created a new ice cream – and your dog will love it.

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