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Good morning, readers. Here’s what is shaping the business landscape:

Wages have far outstripped increased living costs over the past decade, delivering real gains in living standards.
Liberal heavyweight Scott Briggs is driving a bid to win a visa-processing contract understood to be valued at up to $1bn.
Sydney City Councillor Kerryn Phelps isn’t quite off a standing start in her run as an independent in the seat of Wentworth, writes Margin Call.

What to watch for:

Reserve Bank board minutes along with quarterly residential price indexes and weekly consumer confidence data are due out today, while in the US, look for housing market sentiment data and chain store sales figures. Keep up with the latest business developments in our live blog, Trading Day.

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