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ASX to rise; JobKeeper cuts officially kick in

Jessica Yun
·2-min read
CANBERRA, AUSTRALIA - AUGUST 25:  Treasurer Josh Frydenberg during Question Time in the House of Representatives at Parliament House on August 25, 2020 in Canberra, Australia. The federal aged care royal commission has criticised the Morrison government for failing to establish independent monitoring and reporting of aged care quality outcomes during the pandemic. Prime Minister Morrison acknowledged in the House of Representatives what happened in Victoria was “not good enough” insisting the government had a plan to minimise the risk of outbreaks as the performance during the pandemic dominated the first week of federal parliament sitting since June. (Photo by Sam Mooy/Getty Images)
Treasurer Josh Frydenberg during Question Time in the House of Representatives at Parliament House on August 25, 2020 in Canberra, Australia. (Photo by Sam Mooy/Getty Images)

Good morning.

Here’s Yahoo Finance’s Monday morning wrap.

ASX: The Australian share market is expected to rise at the open after Wall Street closed higher on Friday thanks to strong gains made by US technology stocks.

A senior market analyst based in New York reckons we’ll see tech stocks lead the way for this and next year.

Today’s the day: JobKeeper 2.0 has officially kicked in, meaning workers are receiving $300 less than they used to, and even less if you’re a part-time worker. Read about what this means for you here.

Speaking of that, Government critics and social services groups are unhappy about the cuts to the wage subsidy and calling for them to be reversed. Here’s what Labor, the Greens, and the ACTU said.

Deloitte has released a new report, and it’s good news: economist Chris Richardson thinks the economy is “badly bent, but it’s not broken”. Here’s what else he said.

We’re going to see more financial support for airlines to keep key domestic and regional routes running. Two airline support programs were due to end but have been extended to 31 January and 28 March. It means Qantas, Virgin and Rex will continue to get help.

What should the Federal Budget contain for women? This is what Financy’s Bianca Hartge-Hazelman says it should have for mothers and women in terms of financial equality, the gender pay gap, superannuation, workforce participation and unpaid work.

And what does the baby deficit mean for the nation’s bottom line? Contributing editor Samantha Menzies breaks down how Covid-19 has impacted Australia’s fertility rate – and what it will mean for the economy.

South Australia is set to see 2,000 new jobs. Accenture is setting up a new hub in Adelaide.

Have a great day.

–with AAP

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