Business News

5 things you need to know today

1. The Australian Prudential Regulation Authority is planning to increase the regularity of its bank stress testing from once every three years to annually.

2. British Prime Minister Boris Johnson has announced that officials from the UK and EU will now meet twice a week to discuss a new deal. "I have said right from my first day in office that we are ready to work in an energetic and determined way to get a deal done. While I have been encouraged with my discussions with EU leaders over recent weeks that there is a willingness to talk about alternatives to the anti-democratic backstop, it is now time for both sides to step up the tempo," Johnson said.

3. China said it wants to calmly resolve the ongoing trade war with the United States. "We firmly reject an escalation of the trade war, and are willing to negotiate and collaborate in order to solve this problem with a calm attitude," China's Ministry of Commerce spokesman Gao Feng said according to a translation published by CNBC.

4. Australian senior executives are ranked the worst out of 12 countries and managers the second worst behind China for leadership skills according to research by futurist Jacob Morgan reported by The Australian. "The more senior you are, the better you think you’re doing but the worse other people around you think you’re doing," Morgan told The Australian.

5. The Dow Jones gained over 300 points on Thursday to close 1.25% higher on 26,362.25, while the S&P 500 rose 1.27% to 2,924.58 and the Nasdaq lifted 1.48% to 7,973.39.

Published on: Friday, August 30, 2019

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