Business News

5 things you need to know today

1. Almost 70% of the final stage of the Coalition's income tax cut package will benefit Australians earning under $180,000 according to independent analysis by the Parliamentary Budget Office commissioned by the Greens and published by The Sydney Morning Herald and The Age. Labor had previously claimed the cuts would mostly benefit the "top end of town".

2. Australia and the US are reportedly urging France to strengthen its presence in the Pacific region according to a report by The Australian, which also noted that Scott Morrison and French President Emmanuel Macron reached an agreement to align interests last month.

3. Ray Dalio, the founder of the world's biggest hedge fund, has described Australia's property market as a "mini-bubble that is unlikely to continue" and warned that further interest rate cuts could inflate the 'mini-bubble' in an interview with the AFR.

4. Donald Trump has highlighted America's alliance with Australia as "one of our oldest and one of our best" in a speech alongside Scott Morrison ahead of the G20 summit.

5. The Dow Jones lagged behind the other major indexes overnight, falling 0.04% to 26,526.58 compared to a 0.38% gain to 2,924.92 for the S&P 500 and a 0.73% rise to 7,967.76 for the Nasdaq.

Published on: Friday, June 28, 2019

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