Australia markets closed

Yahoo Finance morning wrap for Wednesday

iPhone... subscriptions on the card? (Source: Getty)

Good morning.

Here’s everything you need to know this morning in Australia and beyond:

ASX: The Australian share market is expected to open higher after a positive lead from overseas.

The SPI200 futures contract was up 19.0 points, or 0.28 per cent, at 6,686.0 at 0700 AEDT, suggesting a rise for the benchmark S&P/ASX200 on Wednesday.

On Wall Street, the Dow Jones Industrial Average was up 0.30 per cent, the S&P 500 was up 0.02 per cent and the tech-heavy Nasdaq Composite was up 0.16 per cent.

US stocks have taken a breather, weighed down partially by losses in healthcare stocks, after a rally driven by hopes of a trade truce between Washington and Beijing propelled the three main indexes to record highs a day earlier.

AUD: The Aussie dollar is buying 68.91 US cents from 69.05 US cents on Tuesday.

‘Protect the laws that protect us’: The Australia Institute is launching a commercial that urges the NSW Parliament to "stand-up to the coal lobby", as the government tries to pass laws prohibiting planning authorities from considering overseas emissions when examining local mining projects.

The state government is introducing legislation to prevent the regulation of overseas, or scope-three, greenhouse gas emissions in mining approvals.

But the Australia Institute said it "would be a dangerous step of political interference". Read their open letter, signed by 47 experts, here.

Libra under the spotlight: Australian consumer and financial watchdogs are expected to use their powers to probe Facebook's proposed global online currency, Libra. Regulators including corporate watchdog ASIC will investigate Libra after Facebook failed to assuage concerns about the currency.

Apple is mulling an iPhone subscription. It means Apple could shift from receiving mainly transactional revenue to recurring revenue, while also keeping impatient consumers happy, writes Yahoo Finance reporter Lucy Dean.

‘Admin errors’: Australia’s controversial My Health Record system saw 37 breaches in 2018-19, and most of these are attributable to administrative errors, according to the Digital Health Agency which oversees the system.

Are you an entrepreneur? The best city to be in for you is London. But it’s a different city if you’re an entrepreneur in the restaurant industry (Lisbon), in the tech/digital industry (San Francisco), or the export/import industry (Singapore). Check out the top cities for entrepreneurs here.

–with AAP

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