Business News

5 things you need to know today

1. Malcolm Turnbull is set to resign from parliament this Friday, trigerring a byelection in his seat of Wentworth that could occur as early as October 6.

2. Toyota is expected to invest US$500 million into Uber, valuing the ride-sharing company at US$72 billion. The two companies are expected to jointly develop self-driving cars.

3. So far this reporting season, 30% of companies have exceeded forecasts and 42% have met expectations according to the Sydney Morning Herald.

4. The latest NAPLAN results have been released, with average writing test results continuing to drop for Year 5, 7 and 9 students. Primary school students saw improvements in reading, spelling and grammar, and students who completed the test online performed better in writing than those who took the traditional test. 

5. A public servent in the Northern Territory was paid almost $500,000 by mistake last year. The state's auditor-general said that "human errors" lead to a payment of $492,176 being transferred to the worker's account, instead of $4921.76.

Published on: Tuesday, August 28, 2018

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