Money
RBA plans to ban credit card surcharges in Australia
Reserve Bank of Australia plans to ban credit card surcharges despite banks warning of potential higher fees and weaker rewards
Reserve Bank of Australia plans to ban credit card surcharges despite banks warning of potential higher fees and weaker rewards.
– The RBA plans to ban surcharges on debit and credit card transactions, supported by consumer group Choice.
– Major banks oppose the ban, warning it could lead to higher card fees and reduced rewards for credit card users.
The Reserve Bank of Australia (RBA) intends to implement a ban on surcharges associated with debit and credit card transactions. Consumer advocacy group Choice endorses this initiative, arguing that it is unjust for users of low-cost debit cards to incur similar fees as credit card holders.
The major banks, however, are opposing this reform. They caution that the removal of surcharges could prompt customers to abandon credit cards due to diminished rewards.
A final decision by the RBA is anticipated by December 2025.
Money
Wall Street hits record highs as markets shrug off Venezuela tensions
US markets hit record highs as investors shrug off geopolitical tensions, with the S&P 500 up 0.7% and Dow 1%.
US markets hit record highs as investors shrug off geopolitical tensions, with the S&P 500 up 0.7% and Dow 1%.
US markets surged to fresh records as investors looked past recent geopolitical tensions following the US attack on Venezuela. Confidence returned quickly, driving broad gains across major indices.
The S&P 500 climbed 0.7% to reach a new all-time intraday high, while the Dow Jones Industrial Average jumped 495 points, or 1%, also setting a record during Tuesday’s session.
The rally signals continued optimism around economic resilience, despite global uncertainty and ongoing international conflicts.
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Money
Dow hits record after U.S. military action in Venezuela
Dow Jones surged 600 points post-U.S. action in Venezuela, boosting energy stocks amid cautious gold futures rise.
Dow Jones surged 600 points post-U.S. action in Venezuela, boosting energy stocks amid cautious gold futures rise.
The Dow Jones Industrial Average surged nearly 600 points to a record close following U.S. military action in Venezuela. Investors responded positively, signalling confidence that the geopolitical situation would not spiral out of control.
Stocks rallied alongside rising crude oil prices, with energy companies like Chevron and Exxon Mobil leading the gains. Analysts noted that oil infrastructure rebuilding in Venezuela could provide long-term benefits for the sector.
Despite the bullish market reaction, gold futures also rose, suggesting that some traders remain cautious amid global uncertainties.
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Money
Wall Street eyes further gains in 2026 as rate cuts fuel optimism
Wall Street enters 2026 optimistic as falling interest rates and strong earnings drive stock market expectations amid economic resilience.
Wall Street enters 2026 optimistic as falling interest rates and strong earnings drive stock market expectations amid economic resilience.
Wall Street is entering 2026 with renewed confidence as falling interest rates and robust corporate earnings lift expectations for continued stock market gains. Analysts say an easier monetary policy is providing fresh momentum for equities after several strong years.
The US economy has continued to show resilience, with businesses maintaining healthy balance sheets and earnings growth holding up despite global uncertainty. Lower borrowing costs and supportive fiscal settings are expected to further boost investor sentiment.
However, market watchers remain cautious, warning that optimism could fade quickly if economic data disappoints or inflation pressures return.
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