Business News

5 things you need to know today

1. NAB has reported a 1% rise in cash earnings for the June quarter to $1.65 billion. "Against the backdrop of a challenging operating environment, including subdued home lending growth, our third quarter 2019 performance compared with the first half 2019 quarterly average is solid, with revenue increasing and costs flat," acting CEO Philip Chronican said in a statement.

2. The Federal Court yesterday dismissed a case by ASIC against Westpac for 261,987 breaches of responsible lending laws, ordering the regulator to pay the bank's legal costs estimated to be around $5 million.

3.The United States Trade Representative has announced a delay in the introduction of an additional tariff of 10% on a range of goods imported from China, including phones, laptops and video game consoles. President Donald Trump said the delay was put in place to stop the tariffs from potentially affecting US consumers in the lead up to Christmas.

4. The Dow Jones closed 1.44% higher on Tuesday to 26,279.91, the S&P 500 gained 1.48% to 2,926.34 and the Nasdaq rose by 1.95% to 8,016.36.

5. In May 2017, Donald Trump reportedly tore off the cover of a Bloomberg Businessweek magazine featuing Canadian Prime Minister Justin Trudeau and the headline "the anti-Trump". The President then mailed the cover to him with a message to the effect of "Looking good! Hope it's not true!" written in silver Sharpie accourding to sources cited by Axios.

Published on: Wednesday, August 14, 2019

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