Aussie First

🇦🇺 Happy Australia Day from Aussie First! 🇦🇺

At Aussie First, we're all about putting Aussies first! On this special day, we extend our warmest wishes to everyone celebrating Australia Day. May your day be filled with pride, joy, and moments that reflect the true spirit of our great nation.

Cheers to the Aussie spirit that unites us all! 🐨🎉 🇦🇺

Advocates Rally Against Cashless Economy, Urging Banks to Preserve Access to Physical Money 💵🚫

In a push against the rising tide of digital transactions, businesses and customers are uniting in a call to maintain the availability of physical money. An online petition, signed by nearly 150,000 people, argues that a cashless economy is unreliable and imposes substantial costs on businesses through transaction fees.

Watch the video above to see how businesses and customers are pushing to keep cash alive.

Jason Bryce, the coordinator of the Cash Welcome campaign, emphasized the need for businesses to be able to accept cash, estimating that monthly operational costs for EFTPOS can reach into the thousands. He stressed the importance of cash as a surcharge-free and universally understood form of payment, particularly for those who budget, save, and rely on cash daily.

The recent Optus outage served as a significant wake-up call, leaving 10 million individuals and businesses without communication capabilities and transaction options for 12 hours. Bryce highlighted the broader concerns about relying solely on electronic transactions, pointing out frequent issues with EFTPOS that leave individuals dependent on cash.

"We're just asking the government to have a look at this, to say 'look what's going on with our access to cash,'" Bryce stated. He emphasized that access to cash is a crucial component of national economic infrastructure, urging the government to ensure that Australians can use cash in their local communities for daily needs.

Despite the increasing shift towards digital transactions, advocates argue that preserving the option to use physical money is essential for choice and inclusion. The move by some banks to limit over-the-counter cash transactions in branches has sparked concerns about potential exclusion of segments of the population, such as senior citizens, new migrants, and people with disabilities.

As the debate continues, the advocacy campaign aims to draw attention to the importance of maintaining access to physical money and the potential consequences of a fully cashless society. 💼🌐

📈 Market Update: Local Stocks Soar for Third Consecutive Session! 🚀💹

Amidst a rally in healthcare stocks and inspired by a positive lead from Wall Street, our local market has marked its longest winning streak of the year, extending gains for the third straight session. 🌐💼

At the closing bell, the S&P/ASX200 rose 0.5%, reaching 7,514.9 points, and the broader All Ordinaries climbed 0.5% to 7,742.1 points. The Australian dollar also showed strength, buying US65.97c against the greenback, up 0.4%. 💲📈

Analysts like Josh Gilbert, a market analyst at eToro, suggest that despite a challenging start to the year, stocks are poised to benefit from potential rate cuts, providing a positive outlook for various sectors. 📉✨

Locally, healthcare stocks led the charge with a 1% gain, featuring notable performances from Ansell, Cochlear, CSL, and Ramsay Health Care. 🏥💊

In material stocks, reports of potential stimulus in China buoyed iron ore futures in Singapore, reaching $US131.25 a tonne, up 1.8%. Locally, ASX heavyweights BHP and Fortescue also saw positive gains. 🇨🇳⚙️

Despite optimism about stimulus in China, analysts caution that without a comprehensive package, relief to Chinese stocks may be temporary. Meanwhile, Wall Street reached new records, with the S&P 500 and the Dow Jones Industrial Average posting gains. 📈🗽

In corporate news, Arcadium Lithium emerged as the best performer, up 4.7%, while IDP Education faced challenges after the Canadian government announced changes to its international student intake. Medical device company Polynovo reported a 6.3% jump following a positive trading update. 📊🔍

Judo Bank soared 16.6% after impressive pre-tax profit figures, while Qantas, Coronado Global Resources, and other companies navigated various updates and developments. 🏦✈️📰

Stay tuned for more market insights and updates! 📆💼