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It’s the last day of the financial year and significant changes are set to take place from tomorrow.
Australia’s minimum wage will increase to just above $23 per hour. Superannuation figures will also increase from 10.5 per cent to 11 per cent in a bid to manage inflationary pressures and higher interest rates on loans.
The federal government has promised energy bill relief to eligible small businesses. And the current entitlement to 18 weeks of paid parental leave will be increased to 20.
Despite the cost of living crisis, a report from The Business’ Global Living Index indicates Australia is “one of the most affordable places to live when it comes to the price of household bills”.
Following the news, the ASX has been trading slightly higher, up 5.3 points.
To company news, Imugene (IMU) has announced “new and significant” data on its cancer vaccine, HER-Vaxx, which was presented at the World Congress of Gastrointestinal Cancer in Barcelona.
The company reported that its HER-Vaxx-induced antibodies correlated with tumour reduction in patients with advanced stomach cancer. The company was last trading at 9.7 cents.
Vulcan Energy Resources (VUL) has shuffled its leadership team as it steps closer to the execution phase of its ‘Zero Carbon Lithium’ project in Germany.
The company has promoted its Deputy CEO, Cris Moreno, to the role of Managing Director and CEO.
Project founder, Dr Francis Wedin will transition to the role of Executive Chairman. The company was last trading at $4.22.
And in other news, Fenix Resources (FEX) has established new iron ore hedging contracts to secure stable sales volumes for the upcoming months.
The company has added an additional 10,000 dry metric tonnes (dmt) of iron ore per month from July to December 2023. Fenix Resources was last trading at 28 cents.
