Business News

5 things you need to know today

  • The US trade war with China is "on hold" after the world's largest economies agreed to drop their tariff threats while they work on a wider trade agreement. US Treasury Secretary Steven Mnuchin said "We are putting the trade war on hold. Right now, we have agreed to put the tariffs on hold while we try to execute the framework". 
  • Westpac will be scrutinised this morning as the Hayne royal commission will look at the provision of business loans, taking a look at the bank's role in multiple case studies including examples where guarantors have lost their homes. 
  • It is believed that more than two billion people watched the Royal Wedding over the weekend with over 18 million Britons tuning in to watch Meghan Markle and Prince Harry exchange vows. An estimated 100,000 well-wishers have lined the streets, including the tree-lined road known as the Long Walk, to watch the Duke and Duchess of Sussex pass by. Guests included Elton John, The Beckhams, Amal and George Clooney and even Harry's ex-girlfriend, just to name a few!
  • A 17-year old student armed with a shotgun and a pistol opened fire in a Texas high school on Friday, killing eight students and two teachers. The shooter was denied bail after he was charged with capital murder and aggravated assault on a public servant.The suspected shooter also had explosive devices that were found in the school and nearby, said Texas Governor Greg Abbott, who called the assault "one of the most heinous attacks that we've ever seen in the history of Texas schools".
  • Support for shutting down the live sheep export trade is gaining ground, with Labor set to formally endorse the proposal this week. Liberal MP Sussan Ley will today introduce a private member's bill that would ban live sheep exports to the Middle East during the northern hemisphere summer months in 2019 and entirely close the sector down in five years.

Published on: Monday, May 21, 2018

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