Yahoo Finance ASX to slip as $2.1 billion pledged for winter survival
ASX: The local market is expected to fall at the open after another day of losses on Wall Street.
This comes after ASX shares had their best day in four weeks yesterday as oil prices eased from lofty heights and hopes rose for an end to war in Ukraine.
Wall Street: US stocks resumed losses overnight after economic data out of Washington showed another 40-year-high CPI print and talks held between Russia and Ukraine's foreign ministers failed to make progress on negotiating a ceasefire.
BTC: Bitcoin tanked overnight, dropping below US$40,000 yet again. The drop comes after US President Joe Biden's executive order to regulate cryptocurrencies.
Flu season: The Federal Government will commit $2.1 billion ahead of winter to prepare for an expected COVID-19 surge alongside a deadly flu season.
The winter plan was requested by National Cabinet to ensure the country and health systems were prepared for spikes in respiratory illnesses and would be a major topic of discussion at Friday's meeting.
Flood support: Scott Morrison says more support will be provided to Queensland and NSW as the states seek to recover from an "inland tsunami".
The Government has paid out more than $480 million in federal disaster payments to more than 414,000 people in NSW and Queensland since the floods.
Meanwhile, NSW residents whose homes have been damaged or destroyed in the devastating floods will be able to call on support totalling more than half a billion dollars as the clean-up continues.
Premier Dominic Perrottet said a $551 million housing support package would benefit about 25,000 households.
McPricey: It is expected that McDonald’s shutting it’s stores in Russia will cost the fast food giant more than US$50 million a month.
The company will continue paying its 62,000 employees in Russia and operate its Ronald McDonald House Charities, meaning it will continue to incur costs.
New treatment: Australians with non-melanoma skin cancer are trialling a new treatment designed to replace invasive surgery and radiation.
The treatment is currently being tested on 200 people in Australia, Austria, Germany, and the UK.
Follow Yahoo Finance on Facebook, LinkedIn, Instagram and Twitter, and subscribe to the free Fully Briefed daily newsletter.
