Business News

5 things you need to know today


  • The Aussie dollar jumped to a three-month high Thursday after the Australian Bureau of Statistics showed sales were up 1.2% in November - the strongest retail sales in nearly five years– and far exceeding expectations. The high figures were led by gains in household goods, the release of the iPhone X and sales shopping events. It was the strongest monthly outcome since February 2013, and follows a 0.5 per cent gain in October. 
  • The price of oil also reached a three year high on Thursday to US$70 a barrel. Brent crude climbed after members of OPEC and Russia said it would continue to limit supplies. Oil prices have also been bolstered by growing demand on the back of stronger than expected worldwide economic growth and a series of global events that have stoked geopolitical tension.
  • Tunisia has been struck by a third night of violent rallies, with Tunisians taking to the streets to protest against a tax and price increase imposed by the government. At least one person has died and around 500 have been arrested as authorities deployed police and armed forces to several cities where the protests are taking place. Protests have taken place in at least 10 different areas, including the capital, Tunis, in the last few days.
  • WikiLeaks founder Julian Assange has been made an Ecuadorean citizen but failed to obtain diplomatic immunity to end his five years refuge in the Ecuadorean embassy. Assange has been living in the Embassy in London since seeking asylum in 2012. While he’s no longer wanted for questioning over sexual assault charges by Sweden, if he leaves the embassy he may be arrested by British police for breaking bail.
  • Overnight, the Dow Jones rose 0.8% to 25,575, the S&P 500 also lifted 0.7% to 2,768, and the Nasdaq fell 0.8% to 7,212. In Europe, the FTSE rose 0.2% to 7,763 and the German DAX was down 0.6% at 13,203.

Published on: Friday, January 12, 2018

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