Australia Markets closed

Yahoo Finance's morning wrap for Wednesday

Alibaba founder Jack Ma, NAB sign and Canva co-founders.

Good morning.

Markets: Australian markets are expected to open higher after Wall St's industrial stocks rallied overnight. The rise would have been greater if it weren't for tech stocks dragging down the average. The SPI200 futures is suggesting the ASX will open 0.26 per cent up this morning.

The Australian dollar is buying 68.59 US cents at 8:39am AEST, pretty flat from 68.69 US cents yesterday.

There are fewer Australians on welfare now than in the 1990s. But we are all struggling to afford housing, according to a new report, and wealth inequality is worse than it was in the 1980s.

The big banks have been accused of 'corporate slut shaming'. A Victorian MP alleges a number of banks have contacted workers in the sex industry that their accounts have been closed and they should find another financial provider. He calls out one major bank in particular as "the absolute worst hypocrite".

If you want your kid to become a CEO, what degree should they do? Is it law? Is it business? Nup. This is the answer.

More Australian companies are encouraging staff to join the Global Climate Strike. The latest is online graphic design provider Canva, which is backing Atlassian co-founder Mike Cannon-Brooke's call for local employers to support their employees attending the September 20 and 27 activist event.

You know your staff love you when 60,000 show up to your farewell. A famous company founder is retiring and there are a lot of people very happy about how wealthy he's made them.

Have a great day!

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