Business News

5 things you need to know today

1. Malcolm Turnbull faces another leadership challenge from Peter Dutton today, with Dutton’s supporters calling for change. The former home affairs minister tweeted his intentions, saying: “A few minutes ago I spoke with Malcolm Turnbull to advise him I believed the majority of the party room no longer supported his leadership. Accordingly, I asked him to convene a party room meeting at which I would challenge for the leadership of the Parliamentary Liberal Party.” See here.

2. TPG Telecom shares jumped over 21% yesterday following news of a potential merger between the telco and Vodafone Hutchison Australia. The two telcos confirmed yesterday that they were in merger talks with a statement by TPG saying discussions were about a “merger of equals.”

3. The government is offering to pay big money for people in desirable jobs willing to relocate to the Northern Territory. The NT Government announced that millions of dollars in cash incentives will be offered to people who move to the NT to work in “high priority” occupations. Registration for the financial incentive begins November this year.

4. In an effort to resolve the ongoing trade war between China and the United States, Chinese officials are meeting with the Trump administration in Washington DC this week. Half of all Chinese imports to the United States would be subject to tariffs if all the proposed tariffs are imposed.

5. Strawberries are in peak production, with prices dropping to as low as $1 per punnet at some supermarkets. However, the increased supply has forced some farmers to dump any strawberries that are not considered “extra-large” due to the requirements of wholesale agents.

Published on: Thursday, August 23, 2018

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