Business News

7 things you need to know today

  • The partial US government shutdown is set to end today, after Senate Republicans and Democrats voted to approve a temporary funding bill. The US Senate has agreed to move forward on legislation that would extend government funding for another fortnight. Naturally, the Republicans and Democrats blame each other for the three-day shutdown — which was mainly over immigration and border security issues.
  • Electronics chain JB Hi-Fi is now among the 250 largest retailers by revenue globally, according to the annual Global Powers of Retailing report from Deloitte. JB Hi-Fi made its first appearance on the list in the 218th spot, the third Australian company to make the list. Coles and Bunnings owner Wesfarmers was in 21st position, while Woolworths came in at 23rd.

  • One of Australia’s largest real estate agencies McGrath announced Monday that founder John McGrath will take up the position of executive chairman. The listed company is facing scrutiny after a shock earnings downgrade and the departures of four board members and the company’s chief executive Cameron Judson were announced, with shares falling 13.8%.

  • Japan is escalating its efforts to prepare its citizens for war after Tokyo hosted its first ballistic missile evacuation drill. The choreographed executions took place at an amusement park, community centre and a subway with 300 volunteers taking part. Messages blared over loud speakers to prepare people for the worst. 
  • A US Embassy is set to open in Jerusalem by the end of 2019. Vice President Mike Pence said that Mr Trump had "made history" and righted a "70-year wrong" when he declared Jerusalem as Israel's capital. The Vice-President was careful to point out that the US supported maintaining the status quo in regards to holy sites in Jerusalem.
  • New England Patriots quarterback Tom Brady has led his team to a third Super Bowl in four years after a remarkable come-from-behind victory on Sunday. Brady shook off a hand injury and threw a four-yard touchdown pass to Danny Amendola with 2:48 remaining, rallying the Patriots to a 24-20 comeback victory over the Jacksonville Jaguars in the AFC championship. The Super Bowl LII is on the 5th of February in Minnesota

  • Wall Street hits record highs as the US Senate mopve to end government shutdown. The Dow Jones index rose 0.6% at 26,215, S&P 500 0.8% at 2,833, Nasdaq 1% at 7,408. In Europe, the FTSE finished lower, 0.2% at 7,715 and the German DAX was up 0.2% at 13,464.

Published on: Tuesday, January 23, 2018

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