Business News

5 things you need to know today

  • The NSW Blues have defeated Queensland in the first State of Origin game, 22-12 before a crowd of 87,122 people at the MCG. They dominated under new coach Brad Fittler but have the next 2 games to still prove they can come out on top. 
  • Australia's economy has grown at the fastest pace in almost two years, entering its 27th year of growth without a recession. The GDP expanded by 1% in the first quarter, annual growth jumped from 3.1% from December's 2.4%, beating market forecasts growth of 0.9% for the quarter and 2.8 per cent on-year, pushing the local dollar up a quarter of a cent to $0.7665.
  • Trade fears are easing for now as US President Donald Trump is set to meet French President Emmanuel Macron and Canadian Prime Minister Justin Trudeau during the G7 summit this week. Earlier reports said US officials were weighing an offer by China to import an extra $US70 billion of American goods over a year as Beijing tries to defuse a potential trade war.
  • Ferry services have been delayed and cancelled across Sydney and some flights out of Sydney Airport have been disrupted after a heavy fog settled over the city on Thursday morning. The combination of clearing skies and cold winds overnight allowed moisture from the deluge of heavy rainfall over the last few days to condense and blanket the city in fog. The fog is expected to clear by mid-morning, with Sydneysiders expected to enjoy sunny skies and temperatures in the low 20s across the city.
  • In markets, The Dow Jones index surged by 346 points, or 1.4%, to 25,146, and the S&P 500 lifted 0.9%. The Nasdaq gained 0.7% to finish at a fresh record, for the third straight day this week. Over to Europe the FTSE +0.3% at 7,712, the German DAX +0.3% at 12,830 and the Euro Stoxx 50 +0.1% at 3,461.

Published on: Thursday, June 07, 2018

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