Business News

5 things you need to know today

1. Almost 200 fires are currently burning in Queensland, and residents of Campwin Beach and Sarina Beach, south of Mackay, have been told to evacuate. Up to 8,000 residents of Gracemere, who evacuated to Rockhampton yesterday, have now been allowed to return to their homes.

2. Scott Morrison will not meet with Donald Trump at the G20 summit this weekend. A spokesman for the prime minister said that "there is no pressing need for a formal bilateral at this stage".

3. US Federal Reserve chairman Jerome Powell has helped pushed Wall Street stocks higher after indicating that interest rates were close to neutral. The Dow Jones and the Nasdaq rose by more than 2% on the back of the news, while the S&P 500 lifted about 1.8%.

4. The Bank of England has warned that a no-deal Brexit could be more damaging than the effects of the financial crisis 10 years ago, with GDP falling as much as 8% in the worst-case scenario.

5. A positive story has come out of the wild weather in Sydney yesterday, with the ABC reporting Jasmyn the fish, which was lifted out of a pond by flooding at a north shore home and then dumped in a neighbour's yard, has been successfully rescued.

Published on: Thursday, November 29, 2018

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