Business News

5 things you need to know today

1. Josh Frydenberg has flagged the possibility of changes to the agreement between the government and the Reserve Bank that would require Philip Lowe to write to the Treasurer to explain why inflation - currently at 1.6% - has not met the central bank's target of 2-3%

2. Visy has come out on top of the annual Top 500 Private Companies list from IBISWorld and the AFR with $6.08 billion in revenue in 2018-19, followed by Hancock Prospecting in second place with $6.08 billion in revenue.

3. British Prime Minister Boris Johnson's motion to call a snap election on October 15 has failed to reach the required two-thirds majority vote. MPs voted 298 to 56 in favour of the motion, but an additional 136 votes were required to pass it.

4. Donald Trump has commented on the effect that the trade war between the US and China has had on the stock market. "If I wanted to do nothing with China, my stock market, our stock market would be 10,000 points higher than it is right now but somebody had to do this," Trump told reporters at the White House.

5. Wall Street stocks rose on Wednesday after drops for the major indexes on Tuesday. The Dow Jones close 0.91% higher on 26,355.47, the S&P 500 gained 1.08% to 2,937.78 and the Nasdaq rose 1.30% to 7,976.88.

Published on: Thursday, September 05, 2019

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