ASX flat, energy price hikes and 5 other things to start your day
ASX: The local share market is expected to open flat today after US stocks rose overnight.
Home prices: Aussie property prices have continued to fall, but not as much as in previous months.
CoreLogic’s Home Value Index showed property prices fell 1 per cent for November - the smallest monthly decline since June.
Energy relief: Aussies are losing faith in the idea of having an electricity and gas market everyone can afford, according to the latest energy consumer sentiment survey.
The report found power prices had increased up to 20 per cent this year and consumers were concerned about more bill shock to come.
‘Retail recession’: The festive season may be the last hurrah for retailers for some time, with Deloitte Access Economics warning of a retail recession.
Analysts said cost-of-living pressures and higher mortgage repayments were expected to really hit Aussies hard in the new year, with shopping one of the first things to be scrapped by those watching their budgets.
Climate change: Australia’s progress towards net zero emissions will be outlined in a major statement by Climate Change Minister Chris Bowen.
Bowen will deliver the first annual climate change statement to Parliament today as part of the Government’s pledge to cut emissions by 42 per cent by 2030 and achieve net zero by 2050.
Pension boost: Older Aussies keen to stay in the workforce longer will now be able to do so without the risk of their pension being cut.
From today, eligible pensioners and veterans will immediately be able to earn an additional $4,000 before their government payments are reduced.
Fake scent: Chemist Warehouse has been accused of selling counterfeit Victoria’s Secret perfume in its Aussie stores and online.
In the lawsuit filed in Federal Court, Victoria’s Secret claims it has sampled five brands of allegedly fake fragrances sold through Chemist Warehouse’s website and by three franchisees.
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