Business News

5 things you need to know today

1. Scott Morrison has warned that there would be "quite significant" consequences to the economy if the release of the banking royal commission's final report leads to a credit crunch in an interview with Fairfax.

2. Donald Trump has suggested a trade deal could be struck between the US and China next month, but only if China opens its markets to US manufacturing, farming and other businesses.

3. While the Dow Jones closed down 0.06% overnight, the S&P 500 rose by 0.86% to end the month 7.87% higher, the best January performance since 1987 according to CNBC. Meanwhile, the Nasdaq lifted by 1.37% on Thursday.

4. Townsville has been declared a disaster zone after heavy rain and flooding over the past week, with the Bureau of Meteorology reporting earlier this morning that 180mm of rain fell had fallen at the airport since 9am yesterday.

5. Temperatures have dropped as low as -34 degrees Celsius in the Midwest United States due to a polar vortex that has left at least 12 people dead and thousands of flights cancelled or delayed.

Published on: Friday, February 01, 2019

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