1. Labor pledges $10 billion for affordable housing

In Labor leader Anthony Albanese's budget reply speech last night, $10 billion was pledged to fund the construction of 30,000 low-cost homes. 10,000 of the homes would be set aside for frontline workers such as nurses, police officers and teachers. Albanese also announced a $100 million commitment to clean energy apprenticeships.

2. Coalition 'guarantees' third stage of income tax cuts

Finance Minister Simon Birmingham said that the third stage of income tax cuts due to be introduced from July 2024 would be "110 per cent guaranteed" under the Coalition. Birmingham asked Anthony Albanese to confirm whether Labor is planning to scale back or repeal stage three if it wins the next election.

3. Perpetual calls on Crown to start sale process

Crown Resorts' largest institutional investor, Perpetual Investments, said the company should "immediately commence and fast-track a formal sale process" following Star Entertainment's proposed $12 billion merger announced earlier this week. "It is incumbent on the board and its advisers to extract the highest value for shareholders," said Paul Skamvougeras, Perpetual's head of equities.

4. Russia announces cast of first movie in space

Actress Yulia Peresild and director Klim Shipenko are set to take off in a rocket launch scheduled for October 5 to film what is being described as the first ever movie shot in outer space. Before the pair head to the International Space Station, they will be required to undergo space flight training and testing.

5. Wall Street rebounds

After three consecutive days of losses for the three major indexes in the US, on Thursday the Dow Jones rose by 433.79 points or 1.29% to 34,021.45, the S&P 500 gained 49.46 points or 1.22% to 4,112.50 and the Nasdaq lifted 93.31 points or 0.72% to 13,124.99.