Business News

5 things you need to know today

1. Labor has retained its 51-49% lead against the Coalition in the latest Newspoll published by The Australian ahead of the election this weekend.

2. Prime Minister Scott Morrison has announced a $500 million First Home Loan Deposit Scheme that would assist individuals earning under $125,000 or couples earning $200,000 purchase a property with a deposit of 5%. Labor also announced it would match the Coalition's policy.

3. The Greens candidate for the Melbourne seat of Kooyong, Julian Burnside, believes the party could take the seat from Josh Frydenberg. A poll by Environmental Research+Counsel put the Treasurer ahead 52% to 48% in the two-party-preferred vote.

4. President Donald Trump and Chinese President Xi Jinping will likely meet at the G20 summit in Japan next month according to White House Economic Advisor Larry Kudlow. Trade talks in Washington concluded on Friday without a trade deal being announced. 

5. Wall Street stocks improved on Friday but were down for the week overall. The S&P 500 and Nasdaq both had their biggest weekly drops of 2019 so far after falling 2.18% and 3.03% respectively, while the Dow Jones fell 2.12% for the week.

Published on: Monday, May 13, 2019

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