8 May 2024
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5 Things you need to know today

Switzer Daily
13 September 2022

1. Parliament sitting days added after cancellation due to Queen Elizabeth’s death
Cancelled sitting days due to the Queen's death will be made up this month. Prime Minister Anthony Albanese has defended suspending parliament for a fortnight and argued that a national holiday (Thursday, September 22) was also needed to pay tribute to the Queen.

2. Twitter shareholders approve of Musk’s offer
Twitter shareholders approved of Elon Musk’s offer to buy the social media company, according to a new report.

3. JP Morgan acquires fintech said to rival Block and Square
JPMorgan Chase has agreed to acquire a payments startup called Renovite to fend off threats from fintech firms including Stripe and Block, according to CNBC. While JPMorgan is often content to partner with fintechs and take relatively small stakes in them, the bank felt that Renovite’s product was too important not to own outright, according to a JPMorgan executive. The acquisition, reported first by CNBC, is the latest in a string of recent fintech deals made under CEO Jamie Dimon. The bank has acquired at least five fintech startups since late 2020.

4. UK economy expands 0.2% in July, misses forecasts
The UK economy grew 0.2% in July, from June, missing forecasts of a 0.4% gain, according to Reuters.

5. ASX to nudge higher
ASX futures were up 45 points or 0.65% to 7002 near 7am AEST, with the AUD +0.7% to 68.87 US cents.

On Wall St: Dow +0.7% S&P 500 +1.1% Nasdaq +1.3%.

In Europe: Stoxx 50 +2.1% FTSE +1.7% CAC +2% DAX +2.4%.

10-year yield: US 3.35% Australia 3.63%.

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