money news

Tuesday: traffic hits salaries, AUD falls and Brexit hits billionaires

Traffic hits Australians at the hip pocket, internet streaming for movies to soar and Brexit hurts the fortunes of the wealthiest.

1856 0

If time is money, you might be interested to know that Australians are sacrificing the equivalent of up to 6 per cent of their salaries sitting in morning traffic, according to a new study by Global Positioning Specialists published by Fairfax Media.

Meanwhile another survey has found that Australian households are consuming more television and movies over the internet.  Fairfax reports that research firm Telsyte is predicting that over 5 million households will subscribe to an internet streaming service by 2019.

Brexit continues to dominate global financial news ahead of the European Leaders Summit this week. Australian shares are expected to fall when the market reopens on Tuesday and the Australian dollar has edged lower to around $US0.73 as riskier assets were sold off in favour of safehavens.

The shock from Brexit has seen global markets erase a further $US69.2 billion from the combined net worth of the world’s 400 richest people Monday, according to Bloomberg’s Billionaires Index.

This bring the total since the United Kingdom shocked investors with a vote to leave the European Union to $196.2 billion in the last two trading days.

Subscribe to Financy®

Get your Financy fortnightly fix with Financy Rewards, content and more. Plus each quarter you'll receive the latest Financy Women's Index, helping you keep pace with women's financial progress.

In this article