澳洲新闻 (ABC新闻快递) 2016-03-22

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Thank you Virginia. Good morning everyone. Leading the finance news this morning.

The head of Australia's stock exchange, Elmer Funke Kupper has resigned aimed allegations of bribery¹ at a betting company he used to run. He's also taken a leave of absence from the board of Tabcorp, Australia's biggest bookmaker, which is the company that is under investigation². The Tabcorp allegedly paid 200,000 dollars in bribes³ to the Cambodian Prime Minister Hun Sen's family as part of its expansion efforts. Last week, Mr. Funke Kupper said he had no memory of that payment. ASX chairman Rick Holliday Smith will become the bourse's interim⁴ chief executive until a replacement⁵ is found.

Australian's stocks fell yesterday after Prime Minister Malcolm Turnbull recalled parliament and brought the budget forward setting the scene for an early election. The Australian stock market finished down a third of a percent. The budget has also been brought forward by a week to May third with Mr. Turnbull saying the budget will include tax measures that back growth and enterprise. however, as it stands the only measure on the table is a possible cut to company tax rate.

Let's go to the global markets. And stocks on Wall Street have ended the day modestly higher. Now at close, the Dow and S&P 500 both rose 0.1%, the Nasdaq gained a third percent while In London, the FTSE fell 0.1% . Checking commodity prices, West Texas Crude is 40 US dollars a barrel, Tapis Crude is 42 US dollars a barrel and gold is trading 1243 US dollars an ounce. The Australian dollar is currently buying 76 US cents, 67 Euro cents and 53 Pence Sterling⁶.