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Yahoo Finance's morning wrap for Wednesday

Samantha Menzies
Senior editor – Finance
Yahoo Finance’s morning wrap for Wednesday

Good morning.

Here’s everything you need to know in finance this morning.

Boeing 737 MAX 8’s grounded: The Boeing 737 MAX 8 has been branded the world’s deadliest mainstream jetliner after being involved in two catastrophic crashes in the last five months. Last night Australia announced it would ground any inbound or outbound flights using the aircraft. The grounded jets have been recently operated here currently by Fiji Airways into Adelaide, Sydney, Brisbane and Melbourne. Here is the full list of the airlines which have grounded the jetliners, and the ones which haven’t.

Brexit defeat: The British PM has lost the second ‘meaningful vote’ on her Brexit deal after failing to win over MPs with a series of last-minute changes agreed with the EU. MPs voted against the deal overnight by 391 votes to 242 in yet another humiliation for the Prime Minister over Brexit.

ASX futures moving lower: The Australian share market looks set to continue its slide on Wednesday after a mixed US lead. According to the latest SPI futures, the ASX 200 is expected to open the day lower by 10 points or 0.15 per cent. 

Mortgage brokers safe for now: Thousands of Australian mortgage brokers may continue receiving trail commissions beyond next year, after the federal government backflipped on getting rid of them. Abolishing the trail commissions – which involve a fee being paid for a broker’s services for the duration of a property loan – was among recommendations of the banking royal commission.

Million-dollar lifestyle:  Do you want to become a millionaire? The game plan for you is simple: try to get as much of your money as you can into income generating things instead of pouring it down the consumer spendthrift’s gurgler. Here’s how you can become super rich.

Interest rate cuts to the rescue? Lower interest rates will be great news if you have a mortgage, terrific if you have a business overdraft and fantastic if you are a soon-to-be first home buyer. But it won’t be good news if you are relying on interest income to enhance your cash flow with terms deposit rates set to fall even further in response to the lowering in official interest rates. Which bracket do you fall into?

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