Good morning – here’s what you need to know:
Markets: Wall Street sunk overnight after the US government's stimulus plans apparently underwhelmed the market, even before congress has passed the measures.
So the prospects for Australian shares aren't looking good Wednesday morning, with the SPI200 index down 0.43 per cent at 7:10am AEST, pointing to the local market opening significantly lower.
The Australian dollar was buying 71.57 US cents 7:10am AEST, up from Tuesday's closing price of 71.32 US cents.
Rents have fallen in six capital cities around Australia. Check out if you're paying too much here.
A Covid-19 vaccine has been pitched at $80. US company Moderna is reportedly looking at around US$50 to US$60 for one course, which consists of two shots. That price would be for developed countries, with presumably a discount for poorer populations.
Government can borrow more to help everyone. This is according to Reserve Bank governor Philip Lowe, who said the basics of Australia's economy and finances were strong, so more government assistance would be prudent to minimise damage.
There is a group helping Australian women achieve amazing things. Check out the service touted as the "third way" as an alternative to the job market and welfare.
Employment fell 1.1 per cent between mid-June and mid-July. The biggest loss, unsurprisingly, was felt in Victoria, which is currently battling a second wave of the coronavirus.
Westpac's troubles are snowballing. The bank said it has now provided data on more than 500,000 transactions to the financial crime watchdog, which is investigating allegations that Westpac enabled more than 23 million illegal payments related to money laundering and child exploitation.
Have a great day, everyone.