ASX to fall at open; Matthias Cormann to leave politics

Good morning.

Here’s Yahoo Finance’s Monday morning wrap:

ASX: The stock market is slated to be off to a bad start as Europe reimposed lockdown restrictions amid rising second waves of Covid-19. Nine housing commission blocks in Australia are under lockdown, too, which has been criticised as ‘ham-fisted’.

Federal Finance Minister Matthias Cormann will leave politics at the end of the year.

“I will be there to help guide our government and Australia out of this crisis,” Senator Cormann told reporters.

“And I will be there to help set the plan and the trajectory for the future. But there will be other very talented people who will take over the baton and run with it.” Here’s more on that.

This question isn’t going away: What will happen after government support and stimulus ends? Deloitte has been pushing for something they call ‘JobTweaker’.

“Families are struggling with the toxic trio of high debt, high unemployment, and low confidence,” said Deloitte Access Economics partner Chris Richardson. “More dollars are needed.” Here’s Yahoo Finance’s explainer on JobTweaker.

Closing sales over Zoom: For many people during the coronavirus shutdown, working from home has meant lower productivity and slower business. This was the case for sales enablement firm managing director Johnny Lee – until he jumped on the phone and turned things around for his business – and his clients. Here’s how he did it.

Throwing money at trash: The Morrison government is going to spend $190 million to set up a new fund to generate investment in recycling. Environment Minister Sussan Ley also expects more than 10,000 jobs as 10 million tonnes of waste is diverted from landfill to create useful products.

ICYMI: Labor has hung onto the seat of Eden-Monaro, the highly anticipated by-election. Federal Opposition Leader Antony Albanese said it was a “fantastic victory”.

–with AAP

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