1. New crypto exchange lists on US market

A new listing of a cryptocurrency exchange debuted on the US stock market overnight and was expected to surge, but it didn’t. Coinbase did open at an unbelievably high price of $US381 on the Nasdaq Exchange (the home of US tech stocks). Then it shot up as high as $US429, but soon dipped below its debut price. As Coinbase shares traded off their highs, the price of bitcoin also dropped off a record high of more than $63,800. Crypto investors were hailing the company’s stock market debut as a major milestone for the industry, after years of scepticism from Wall Street and regulators. The new exchange will make it easier for investors to buy and sell cryptocurrencies.

2. OECD tells PM to cut company tax rate

The world’s pre-eminent economic think tank has told the Morrison Government to cut the company tax rate.At a time when US President Joe Biden wants the world to agree to a minimum 25% company tax rate, the  Organisation for Economic Co-operation and Development (OECD) wants Australia to cut its 30%  company tax rate for big business to 25%, which would match the tax rate for small businesses here. Just when our economy needs a plan to help the recovery, the OECD says the Government needs to encourage the reallocation of labour and resources to growing and more innovative firms, as well as making it easier for workers to find jobs across state borders. A lower company tax rate would help grow better, new age businesses with better pay rates as well.

3. Fraudster Bernie Madoff dies in jail

One of the world’s biggest investment fraudsters, American Bernie Madoff, has died in jail. Madoff, the infamous swindler, who burned thousands of wealthy New York and Florida investors, including film director Steven Spielberg and actor Kevin Bacon, has died in a federal prison at age 82. That was always going to happen as he received an incredible 150-year sentence! For decades, Madoff enjoyed an image as a self-made financial guru whose Midas touch defied market fluctuations. He was a former chairman of the Nasdaq stock market but eventually was exposed as someone running a Ponzi Scheme, where new money is paid for the returns of existing customers, covering up the fact that the money wasn’t invested and the big returns were just lies.

4. Dancers 'twerk' at launch of new naval ship

The ABC has released footage from the commissioning of the HMAS Supply in Woolloomooloo on Sunday which featured a performance by a local dance group that included twerking. The ABC reported that a government frontbencher had described the move as a "s***show".

5. S&P 500 dips from record levels

The S&P 500 fell 16.93 points or 0.41% on Wednesday to 4,124.66. While Tesla helped push the Nasdaq higher yesterday, the stock was down 3.95% today, along with falls of 2.48% for Netflix and 2.24% for Facebook. The index was down 138.26 points or 0.99% to 13,857.84. The Dow Jones closed 53.62 or 0.16% higher to 33,730.89.