Business News

5 things you need to know today

1. Stocks on the ASX reached their highest levels in over 11 years yesterday. The S&P/ASX 200 rose 1.59% or 102.40 points to 6,545.30.

2. Australian savers are set to be $1.3 billion worse off if banks pass on the Reserve Bank's full interest rate cut to at-call cash accounts according to a report by the AFR.

3. President Donald Trump said that he is holding up a trade deal with China. "We're going to either do a great deal with China or we're not going to do a deal at all," Trump said.

4. Stocks have closed marginally lower on Wall Street to end six consecutive days of gains for the major indexes. The Dow Jones fell 0.05% lower to 26,048.51, the S&P 500 fell 0.04% to 2,885.72 and the Nasdaq was down 0.01% to 7,822.57.

5. Uber is expected to begin testing its Uber Air service in Melbourne next year, with rides on the company's new aircraft between the CBD and airport set to take 10 minutes and cost less than $100.

Published on: Wednesday, June 12, 2019

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