Business News

5 things you need to know today

1. Australians banks had some of the "steepest declines" in risk adjusted capital last year according to a survey of 100 banks globally by S&P Global Ratings, which saw the banks move from the top half of the rankings to the bottom half.

2. The Australian Competition and Consumer Commission has been directed by the federal government to investigate foreign transaction fees. "Evidence from the Productivity Commission suggests these fees are higher than other countries," Treasurer Josh Frydenberg said.

3. 'Fake' honey remains a problem according to a study by Macquarie Univesity, with 18% of the 38 Australian honey samples tested showing signs of adulteration.

4. According to the latest Forbes 400, which ranks the wealthiest 400 American residents, Donald Trump has not profited off his presidency, with his net worth dropping from $4.5 billion in 2015 to $3.1 billion for the last two years.

5. A dwarf planet dubbed 'The Goblin' has been discovered 344 billion kilometres beyond Pluto. Estimated to be 300 kilometres across, The Goblin takes 40,000 years to circle the sun.

Published on: Wednesday, October 03, 2018

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