Business News

5 things you need to know today

1. Scott Morrison has ditched plans to lift the retirement age to 70. The qualifying age for the age pension was due to increase from 67 to 70 beginning in 2025, and was originally announced in 2014 during the Tony Abbott and Joe Hockey's first budget.

2. Malcolm Turnbull is believed to have offered the deputy Liberal leader position to Peter Dutton in an effort to prevent a leadership spill, according to a report by The Courier Mail.

3. Australian John Millman defeated Roger Federer in the fourth round of the US Open, and Peter Switzer wrote about what we can learn from his win.

4. Amazon has hit a US$1 trillion valuation for the first time, 33 days after Apple hit the same milestone. Meanwhile, Facebook shares fell 2.6% after being downgraded by brokerage MoffettNathanson from 'Buy' to 'Neutral'.

5. Journalist and author Bob Woodward has written that Donald Trump's aides have stopped him signing documents by hiding them. In his book "Fear: Trump in the White House", due out next week, Woodward also wrote that Defense Secretary James Matthis has described the president as having the understanding of "a fifth or sixth grader."

Published on: Wednesday, September 05, 2018

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