Business News

5 things you need to know today

1. Prime Minister Scott Morrison has announced a royal commission into aged care. ScoMo beat out Bill Shorten as preferred prime minister in the latest Fairfax/Ipsos poll 47% to 37%, while Labor is ahead in the two-party preferred vote, 53% to 47%.

2. Wild weather has hit two regions on the same day. Typhoon Mangkhut claimed the lives of at least 64 people in The Philippines and has now crossed into mainland China, while Hurricane Florence left 16 dead in the US states of North and South Carolina.

3. Chinese government officials may refuse to participate in trade talks if the US moves ahead with the proposed additional US$200 billion in tarrifs according to The Wall Street Journal.

4. The big banks are expected to face years of litigation and may need to pay billions of dollars in compensation as law firms prepare to sue, the AFR reported.

5. Volkswagen has announced it will discontinue the Beetle after 80 years. The company has not ruled out bringing the Bug back in the future.

Published on: Monday, September 17, 2018

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