Business News

5 things you need to know today

  • Last night saw the start of the Commonwealth Games on the Gold Coast with the opening ceremony getting off on a bright start despite the rain that dampened the arena. The ceremony showcased Australia's beach and Indigenous culture. Cyclone Iris, despite being very far north, is expected to dampen the coast with rain and high winds which are forecast for the games. 
  • The US has hit back at China with plans to increase tariffs on 1,300 imports. The Trump Administration has raised the stakes in a growing trade showdown with China, announcing 25% tariffs on 1,300 types of industrial technology, transport and medical products in a bid to force changes to Beijing's intellectual property practices.

  • Flight Centre has been fined $12.5 million over international flight price fixing, after losing a long-running legal battle with the ACCC. The case related to the travel agent's attempt to induce Singapore, Malaysia and Emirates airlines to enter price fixing arrangements between 2005 and 2009.

  • The woman who stormed the Youtube HQ yesterday with a gun wounding three before shooting herself visited a rifle range hours before going on her shooting rampage. The woman's father had warned police his daughter might be going to YouTube because she "hated" the company because she was not making money off her videos anymore.

  • The Dow Jones has posted a 700-point turnaround to finish 1%higher, after earlier posting steep losses. The Dow closed 230.94 points higher at 24,264. The S&P 500 finished 1.2% higher at 2,644 and the NASDAQ closed 1.5% higher at 7,042. 

Published on: Thursday, April 05, 2018

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