Westpac is the first of the big four banks to say it will lift some savings rates following the RBA’s official rate rise but with conditions; AI stock concerns hit global markets; Bunnings wins an appeal which sets the scene for ongoing use of facial recognition technology.
00:00 Westpac rate lift
01:45 US tech share fall
spending as much as 265- billion dollars this year, which is more than what analysts had expected – while shares of software companies continue to slide on fears the technology could eat into their business.)
02:58 Aussie dollar down; oil on the rise
03:55 Trump: if Kevin Warsh had wanted to raise interest rates ‘he wouldn’t have gotten the job’
04:20 Washington Post layoffs
04:51 Bunnings AI facial technology win
05:37 Costly Michelangelo foot painting
Ricardo Gonçalves breaks down the day’s financial news in On The Money.
#OnTheMoney #FinanceNews #InterestRates #AIStocks #AustralianEconomy
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