Business News

5 things you need to know today

1. ASIC commissioner Sean Hughes has hit back at criticism of responsible lending laws and their effect on the economy, writing in The Australian that "The laws have not changed at all since 2010". 

2. The preliminary auction clearance rate was 68.9% in the capital cities according to CoreLogic figures cited by the AFR, under the headline of: "The property market recovery gains momentum".

3. The S&P/ASX 200 is 77 points off its record high of 6828.7 points and the All Ordinaries is 21 points off its record high of 6853.6. Both records were reached on November 1, 

4. Leaked emails from Britain's ambassador to the United States, Kim Darroch, have criticised Donald Trump's administration as being "uniquely dysfunctional" and "clumsy and inept", with Trump responding to the leaks by saying that the ambassador "did not serve the UK well".

5. US stocks closed lower on Friday, ending a week of record-high closes for the major indexes. The Dow Jones was up 1.2% for the week, while the S&P was up 1.7% and the Nasdaq up 1.9%.

Published on: Monday, July 08, 2019

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