Business News

5 things you need to know today

  • China have imposed new tariffs on US meat. wine and fruit in retaliation for Donald Trump's steel taxes. The Chinese Finance Ministry said in a statement the new tariffs would begin on Monday. The announcement followed warnings Chinese officials had made for several weeks in an escalating trade dispute between the world's two largest economies.
  • Iron ore has rapidly fallen as worries about a trade war between the US and China add to concerns about expanding supply and cutbacks in China's steel industry. Prices have dropped by nearly one fifth since the start of March with benchmark prices sliding to around $US62 a tonne amid record stockpiles at Chinese ports.

  • Winnie Mandela, the anti-apartheid leader has passed away at the age of 81. Originally haild as the mother of the 'new' South Africa, her lagacy was undone when she was revealed to be a ruthless ideologue prepared to sacrifice laws and lives in pursuit of revolution and redress.

  • Former cricket vice-captain David Warner's legal team have requested transcripts from the interviews conducted in Cricket Australia's internal inquiry into ball tampering in a further indication he is the most likely of the Cape Town three to take his case to a hearing. If he is unable to get the transcripts, he could call players and staff as witnesses at a hearing. With the World Cup and the Ashes on the horizon in the winter of 2019 supporters of Smith and Warner believe they need to be playing state cricket, at least in the second half of the season, to strive for Australian selection when their bans have ended.
  • Fighter jets and "drone guns" are part of the high-powered arsenal available to authorities to keep the Commonwealth Games athletes and spectators safe. Organisers expect more than 672,000 visitors from across Australia and overseas.

  • Four fishermen have died in Balikpapan Bay off the coast of Borneo, over the weekend when part of an oil slick ignited. The toxic slick is at least 4 kilometres long and fishermen say it has already killed at least one protected dugong that washed up on a local beach yesterday. An Indonesian oil company has denied responsibility of the major oil slick which is continuing to contanimate and spread along the coast.

Published on: Tuesday, April 03, 2018

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