1. Prime Minister Scott Morrison has criticised General Motors' decision to dump the Holden brand in Australia after taxpayers had put "billions" into the company in the past. "They let the brand just wither away on their watch and now they are leaving it behind," Morrison said.

2. The number of new coronavirus cases in China appears to be declining according to the latest data, with a total of 70,635 cases and 1,772 deaths. "This is a very serious outbreak and it has the potential to grow. But we need to balance that in terms of the number of people affected. Outside Hubei, this epidemic is affecting a very tiny, tiny, tiny proportion of people," the World Health Organization's Dr Mike Ryan said.

3. Amazon founder and CEO Jeff Bezos has pledged US$10 billion ($14.90 billion) to launch the Bezos Earth Fund in an effort to fight climate change. "I want to work alongside others both to amplify known ways and to explore new ways of fighting the devastating impact of climate change on this planet we all share," Bezos said in a post on Instagram.

4. Reporting season continues today with Ansell, BHP, Cochlear, Coles, IOOF, Monadelphous and OZ Minerals.

5. Wall Street was closed overnight for the Presidents' Day holiday. With no lead in from the US, the ASX is expected to open flat according to the latest futures.