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S&P/ASX 200 Morning News

Here are today’s headlines from the S&P/ASX 200 (INDEXASX:XJO)(ASX:XJO) and Australian finance circles.
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The Rask Invest research team produces daily ASX news and research on ASX-listed companies and funds. Join the conversation inside the free investor community. Click here to have your say.
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Here are today’s headlines from the S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) and Australian finance circles.

First, here are the data points:

Australian Dollar ($A) (AUDUSD): 72.24 US cents

Dow Jones (DJI) : up 0.1%

Oil (WTI): $US73.50 per barrel

Gold: $US1,195 per ounce

Australian Finance News

The finance industry is still coming to grips with the bank Royal Commission’s interim report which revealed, among many other things, that it may not necessarily be in the best interests of the community or industry to add additional laws and complexity. Instead, changing the way the industry is administered may help.

As a result of the Commission and the public hearings, we’ve witnessed AMP Limited (ASX: AMP) lose its CEO, Westpac Bank (ASX: WBC) fined $235 million and much more.

Read more here: 2 Takeaways From The Royal Commission Interim Report

In sharemarket news today, Orocobre Limited (ASX: ORE) announced Martin Perez de Solay will become the company’s CEO.

“Martin is a highly accomplished Chief Executive with the ideal blend of skills, experience and knowledge to lead Orocobre though the next stages of its development,” Orocobre Chairman Robert Hubbard said. Mr Perez de Solay will receive a fixed base salary of $US700,000 per year.

Gold company Northern Star Resources Ltd (ASX: NST) made an ASX announcement following the completion of its takeover of the Pogo Gold Project in Alaska.

“On behalf of Northern Star, I would like to thank Sumitomo for their assistance and the outstanding condition in which they have left the Pogo mine,” Northern Star Chairman Bill Beament said.

Rask Media recently covered Northern Star’s $US260 million acquisition in more detail here: “Northern Star Resources Ltd (ASX:NST) Golden Pogo Deal”

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With bond ETFs like ASX:IAF and the S&P 500 riding high, now could be one of the best times to start earning passive income from a portfolio of shares and ETFs.

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