Money News

Labor looks to make changes to the Future Fund; Westpac pushes back predictions of rate cuts to May; Chris Ellison fronts the MinRes shareholders; social media legislation enters parliament; first home buyers saving less of half of what they were; and Scott Phillips joins us for the Market Wrap.

Host: Deb Knight

Executive Producer: Tom Storey

Technical Producer: Liam Achurch

Publisher: Nine Radio

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See omnystudio.com/listener for privacy information.

See omnystudio.com/listener for privacy information.

The government will change the mandate of the Future Fund, opening a can of worms about what role politicians should have in the investment calls of the pool.

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Changes to the Future Fund could see the $230 billion pool prioritise clean energy & housing. 

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Jim Chalmers delivers a statement on the economy to the Parliament; calls for a rethink on Australian productivity, including worker training; wages jump over $100b a month; Amcor to take over US packaging company; Black Friday sales getting bigger & bolder; Australian Super to repay $4.2 million; and Carl Capolingua joins us for the Market Wrap.

Host: Deborah Knight

Executive Producer: Tom Storey

Technical Producer: Liam Achurch

Publisher: Nine Radio

See omnystudio.com/listener for privacy information.

Black Friday sales are getting bigger and over a longer period of time – so will Australians shop up a storm ahead of Christmas this year?

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A deal between Amcor and US group Berry group will see the Aussie packaging giant have 400 factories in its operations.

MARKET WRAP:

• ASX200: down 0.57%, 8,326

• GOLD: $2,628 US/oz

• BITCOIN: $142,306 AUD
  
  

• Utility and Health Care stocks just escaped the losses, with CSL up 1.1% and Pro Medicus rising 1%.

• Northern Star and Evolution mining both up 1%

• Small gains for Commonwealth Bank, Infratil and Origin Energy.

• Amcor’s merger announcement saw down 1.2% to $15.51.

• Energy stocks were down around 1%, with Woodside & Santos both falling around 0.7%.

• Nick Scali told the market that freight problems had hurt its guidance, shares fell 1.7% to $13.84.

• Telstra was down 2.3% and James Hardie fell 2%.

CURRENCY UPDATE:

• AUD/USD: 65.23 US cents

• AUD/GBP: 51.4 pence

• AUD/EUR: 61 Euro cents

• AUD/JPY: 101 Japanese yen

• AUD/NZD: 1.10 NZ dollars

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Australia’s productivity has dropped to a snail’s pace, with a lack of workplace training hampering efforts to get the nation’s economy going again.

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The ASX couldn't quite keep up with it's gains from Tuesday, while a packaging giant looked to get its hands on more in the US.

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