Business News

5 things you need to know today

1. $4.6 billion in funding from the Federal Government for private schools has been opposed by NSW education minister and Liberal MP Rob Stokes, who said in a statement that he "won't be signing any deal that doesn't treat every student and every school with fairness".

2. Australia's exchange rate could rise by 6% and the economy could shrink by 2.5% due to the ongoing trade war in a worst case scenario, an internal report from the Reserve Bank has revealed.

3. US$168 billion has been wiped off the value of the Asian BAT stocks so far this year, with CNBC noting that Baidu has fallen over 6%, Tencent is down more than 22% and Alibaba is down 11%.

4. Amazon has announced 15 new products powered by its smart assistant Alexa, including a microwave and car accessory. The company is also reportedly considering opening 3,000 checkout-free stores by 2021.

5. Spiders webs stretching at least 300 metres have blanketed an area in the town of Aitoliko, Greece. The rise in spiders is said to be due to be linked to an increase in mosquitoes according to locals.  

Published on: Friday, September 21, 2018

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