Business News

7 things you need to know today

  • The policeman who fatally shot Australian woman Justine Damond in july last year has been charged with third-degree murder. Minneapolis police officer Mohamed Noor was behind bars on Tuesday night after he was also charged with second-degree manslaughter in relation to the death of Ms Damond. "There is no evidence that officer Noor encountered a threat, appreciated a threat, investigated a threat or confirmed a threat that justified his decision to use deadly force," Hennepin County Attorney Mike Freeman told reporters at a press conference on Tuesday.
  • Former Treasurer Peter Costello, has warned that there is a painful outlook for housing as rates rise, and when they do asset values will fall. Mr Costello said there was concern that if interest rates lifted that would hurt highly leveraged households and noted voters were already "grouchy" about rising living costs outstripping anaemic wage growth.
  • An Uber self-driving car has hit and killed a woman crossing the street in Arizona, marking it the first time a self-driving car has killed a pedestrian and dealing a potential blow to the technology which is expected to transform transportation. Uber is now suspending its North American tests of self-driving vehicles. The 49-year-old woman was walking her bicycle outside the pedestrian crossing when she was struck by the uber, which is said to be travelling around 65km per hour. 

  • All strings were pulled last night in the reunion episode of Married at first sight when the ex-couples returned for one last dinner. The show saw Channel Nine score massive ratings, with over 1.5 million metro viewers. Will the show go ahead and win the 'best trashy television show' logie? 

  • British data company Cambridge Analytica has suspended its CEO Alexander Nix after he boasted to undercover journalists about using honey traps, misinformation campaigns and bribery stings to influence election campaigns. The announcement came as the UK's Channel 4 News revealed executives claiming they were the power behind Donald Trump’s election campaign. Channel 4 had recorded Nix and others from CA promoting their services to an undercover reporter.

  • Overnight, Facebook shares dropped a further 2.6% amid ongoing concern over the use of data collected by the social network. These concerns also infected fellow social media company Twitter, which was down more than 10%.

  • Although Wall Street has recovered from yesterday's sharp pullback, Facebook and technology stocks still weighed on the market. In markets, the Dow Jones +0.5% at 24,727, S&P 500 +0.2% at 2,717 and the Nasdaq +0.3% at 7,364. Over to Europe, the  FTSE +0.3% at 7,061, the German DAX +0.7% at 12,307, and the Euro Stoxx 50 +0.5% at 3,413

Published on: Wednesday, March 21, 2018

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