Business News

5 things you need to know today

·      The US-China trade war has ramped up after both sides imposed 25% tariffs on $US16 billion worth of each other's imports on Thursday, even as officials from both sides resumed talks in Washington.

·      The Aussie dollar took a beating overnight, falling below US 73 cents yesterday amid the ongoing dramas in Canberra. As at 7am AEST it was trading around 0.7250, for an intra-day fall of over 1.3%.

·      It’s showdown day for the Liberal party with a three-horse race between Julie Bishop, Peter Dutton and Scott Morrison. PM Malcolm Turnbull is awaiting the solicitor general’s report on Peter Dutton’s eligibility to sit in parliament.

·      The Australian Government has banned Chinese-owned tech giant Huawei from taking part in the rollout of 5G mobile infrastructure due to national security concerns. Huawei is one of the world's largest providers of telecommunications equipment. Huawei has denied it poses a national security risk, while China’s ministry of commerce says Australia has made “a wrong decision”

·      Hotel comparison site Trivago is being sued for making misleading best price claims. Consumer watchdog ACCC has accused the company of misleading and deceptive conduct by ranking hotels that pay the company the most advertising money.

Published on: Friday, August 24, 2018

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