Business News

5 things you need to know today

·      The US is on track to impose 25% tariffs on $34bn of Chinese goods at midnight US time. China is expected to match the move with a 25% levy on US goods to the same value on the same day. The tariffs mark a significant escalation in the trade dispute between the world's two biggest economies.  There has been no evidence of any last-minute negotiating between the countries.

·      The father responsible for fatally shooting his two teenage children at a home in Sydney's north-west last night has been found dead in a house around 7 kilometers from the scene of the initial killings. The two teens, a 15-year-old boy and a 13-year-old girl, were found dead in their home Thursday evening. Police have described the incident as a "horrific" domestic violence-related shooting.

·      Forty nine people are missing after a boat carrying 97 people, mostly Chinese tourists and a Thai crew, has capsized in rough seas off Thailand's tourist island of Phuket. The boat overturned after it encountered rough winds. Another two boats, including a yacht carrying 39 people, also capsized but its passengers have been brought to safety.

·      Sydney Airport has announced a trial of facial recognition technology with Qantas that could see passengers ditching their passports. The airport and airline have started trialling the technology from today with select passengers on international flights. It means passengers will able to go through most stages of the airport using only their face as a means of identification.

·      Overnight, US and European stocks appeared unfazed by the looming tariff deadline. In the US, the Dow Jones rose 0.8pc at 24,357, the S&P 500 +0.9pc at 2,736 and the Nasdaq +1.1pc at 7,586. Meanwhile in Europe, the FTSE gained 0.4pc at 7,603 and the DAX +1.2pc at 12,464.

Published on: Friday, July 06, 2018

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