Good morning. Here’s what you need to know in finance and beyond this morning to start your week:
ASX: Australian shares are expected to open flat after a mixed session on Wall Street on Friday.
The SPI200 futures contract was down 4 points, or 0.07 per cent, at 6,007.0 at 0700 AEDT, suggesting a slight dip is in store for the benchmark S&P/ASX200 on Monday.
The Aussie dollar is buying 70.91 US cents from 70.85 US cents on Friday.
Wall St: The benchmark S&P 500 index and the Nasdaq edged upward to snap a two-day losing streak on Friday as positive corporate results offset lingering scepticism over the United States and China reaching a trade deal before the March 1 deadline.
The Dow Jones Industrial Average fell 63.2 points, or 0.25 per cent, to 25,106.33, the S&P 500 gained 1.83 points, or 0.07 per cent, to 2,707.88 and the Nasdaq Composite added 9.85 points, or 0.14 per cent, to 7,298.20.
Some AMP executives could be facing criminal charges over the embattled wealth giant’s infamous ‘fees for no service’ scandals that were aired in the banking royal commission. The ABC reports that the banking watchdog ASIC is in the process of preparing cases against executives. The company has already lost several high-level executives over the course of the major inquiry.
After a spate of cuts to media jobs that’s happened across Fairfax Media, the ABC, and most recently Vice and Buzzfeed – as well as the merger between Fairfax and Nine – it’s no secret that the Australian journalism industry is in a dire state. Now, Rod Simms, the chair of competition watchdog ACCC has told the Sydney Morning Herald that tech giants Facebook and Google must shoulder the blame for the loss of hundreds of journalism jobs.
Is it all getting too much? You could be stressed without knowing it. This flowchart will help you figure out exactly how stressed you are.
Are we staring down the barrel of another US shutdown? Another partial US government shutdown later this week “absolutely cannot” be ruled out, acting White House chief of staff Mick Mulvaney said on Sunday.
Mulvaney, who also serves as director of the Office of Management and Budget, said the breakdown in congressional talks to keep the government open were “all over the map because of the Democrats”.
Britain may be the latest Western alliance nation to ban Huawei from any future tech projects. Huawei and Chinese firms like it are set to be legally blocked from participating in any 5G mobile networks rollouts in the UK and all “strategically significant” technology, British tabloid The Sun reports.
And if you thought the cost of living in Australia was expensive, it’s nothing compared to this city, where you’ll need to make $840,000 to get by.
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