ASX to dip as Govt reveals former PM's $135,000 mistake

Anastasia Santoreneos
·3-min read
\Tony Abbott is interviewed prior to the launch of 'Life, Love & Marriage' by Christine Forster on June 11, 2020 in Sydney, Australia. (Photo by Don Arnold/WireImage)
ASX to dip as Govt reveals former PM's $135,000 mistake. Source: Getty

Good morning.

Here’s Yahoo Finance’s Tuesday morning wrap.

The ASX is set to open lower, with the SPI200 Futures Contract down 45 points after finishing above 6,200 points on Monday.

In the US, Wall Streets main indexes closed lower amid a lack of progress on US economic stimulus negotiations and worsening virus trends in some parts of the nation.

The Dow Jones Industrial Average fell 398.68 points, or 1.39 per cent, to 28,207.63, the S&P 500 lost 56.44 points, or 1.62 per cent, to 3,427.37 and the Nasdaq Composite dropped 190.49 points, or 1.63 per cent, to 11,481.07.

Frydenberg v Andrews: Treasurer Josh Frydenberg and Victorian Premier Daniel Andrews have embarked on a battle of words, slamming each other to the media.

The Treasurer said Andrews was simply “making it up as he goes”, referring to the state’s lockdown restrictions, while Andrews said Frydenberg was “not a leader”, “just a liberal”.

Labor’s $880m promise: Queensland councils are set for $880 million in funding for infrastructure and transport projects under a new Labor election promise.

Premier Annastacia Palaszczuk is set to make the announcement on the state election campaign trail on Tuesday.

Tony Abbott’s mistake: The governor-general’s office has written off $135,000 worth of insignia linked to former prime minister Tony Abbott’s knights and dames reboot.

The former PM reintroduced knights and dames in 2014, bringing with it medals and waist badges worth $20,000 apiece, but Malcolm Turnbull canned it when he replaced Abbott in 2015.

Koalas ‘lose out’: Large-scale agricultural businesses and property developers would be exempt from some koala protection laws in a new proposal before NSW parliament this week, an environmental conservation group has said.

"Nothing in this bill helps ensure koalas survive beyond 2050," Nature Conservation Council chief executive Chris Gambian said.

Covid-safe HSC: About 70,000 students from the NSW HSC class of 2020 are starting their written exams, after a tougher-than-normal final year.

Students will be asked to confirm they don’t have any flu-like symptoms, as well as take a temperature test and sit in spaced seating.

‘Incredibly sorry’: NAB has apologised to customers after a near seven-hour service outage hit its online banking, merchant terminals and trade accounts.

"Days like these are exceptionally hard; none of our colleagues ever come to work wanting to let their customers down," group executive of business and private banking Andrew Irvine posted on LinkedIn.

"For this, we are incredibly sorry. We know, we understand, we feel the impact it has on our customers and their businesses.

Shameful secret: The cost of domestic violence against Australian women is a multi-billion dollar secret, Financy founder Bianca Hartge-Hazelman has said.

Here’s what the Government knows but won’t tell you.

Recession 2020: It’s been a tough year for economies worldwide as the coronavirus pandemic continues to wreak havoc.

Here is everything you need to know about the coronavirus recession, what it will look like and how long it’ll last.

Have a great day.

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