ASX reopens and pay rises needed to fight inflation.
ASX and Wall Street: The ASX will reopen today after being closed for the Australia Day public holiday. US stock indexes rose overnight after data showed a resilient labour market, and better-than-expected economic growth last quarter helped ease worries of a deep recession. Tesla's bullish outlook boosted the tech-heavy Nasdaq.
More pay rises needed: Workers need a $7,000 pay packet boost to keep up with the soaring cost of living.
Canstar analysis showed the average worker earning $92,030 would need a $7,178 increase in annual income to keep pace with inflation, which rose 7.8 per cent annually in the December quarter.
Stockbroker jailed: A former Queensland stockbroker who acted as a "master manipulator" to steal $1.2 million in shares from his clients has been jailed for 11 years.
Roderick George Halligan, 59, of Spring Hill in Brisbane's inner north, faced Queensland District Court for sentencing on Wednesday after pleading guilty to four counts of fraud and one of attempted fraud.
Influencers on notice: Social media influencers who mislead their followers are facing a crackdown from the consumer watchdog as part of a push for more transparency.
More than 100 influencers have been identified for investigation after more than 150 tip-offs to the Australian Competition and Consumer Commission.
The watchdog asked people to identify any influencers who weren't disclosing when their posts constituted paid ads.
Musk’s ‘helpful’ tweets: Controversial Tesla boss Elon Musk has rejected suggestions his Twitter use damaged the electric vehicle brand, telling a meeting with investors his online following proved he was a popular business leader.
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