Business News

5 things you need to know today

1. According to quotes from the Consul-General of Australia to New York, Alastair Walton, published by the AFR, US policymakers and Wall Street billionaires will eventually recognise that the country "will have to confront its emerging deficit and debt fundamentals if it is to avoid potentially catastrophic social conflict between the haves and the have-nots".

2. Donald Trump has fired his national security adviser John Bolton. "I disagreed strongly with many of his suggestions, as did others in the Administration, and therefore I asked John for his resignation," the President tweeted.

3. The UK Parliament is now suspended until October 14 and new legislation will force Prime Minister Boris Johnson to request a delay if a deal isn't struck by October 19, but the British PM stressed that a new Brexit deal is still possible. "There is a way of getting a deal but it will take a lot of hard work - but we must be prepared to come out without a deal," Johnson said.

4. Overnight, the Dow Jones rose 0.28% to 26,909.43, while the S&P 500 posted a small gain of 0.03% to 2,979.39 and the Nasdaq fell 0.04% to 8,084.16.

5. Jack Ma has retired from his position as chairman of the Chinese e-commerce company Alibaba. Ma co-founded the company in 1999, and today Alibaba is valued at around US$480 billion.

Published on: Wednesday, September 11, 2019

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