Business News

5 things you need to know today

  • America's official interest rate has risen for the second time this year, and is now firmly higher than Australia's. Overnight, the Federal Reserve lifted the US benchmark lending rate by 0.25% in a widely expected move to a range between 1.75 and 2%. 

  • A row inside One National has ended in Senator Brian Burston quitting the party, amid warnings over Paulin Hanson's "dictatorship" over her colleagues. Senator Burston on Thursday announced his resignation after two weeks of angry attacks from Senator Hanson, leaving One Nation with only two members in Parliament ahead of crucial votes in the upper house next week.
  • President Donald Trump has declared North Korea no longer poses a nuclear threat even though there is no clearer definition of denuclearisation or a timeframe added for it to be done. "Everybody can now feel much safer than the day I took office," Mr Trump said as he arrived back in the United States after his historic summit with North Korean leader Kim Jong-un.
  • The 2026 World Cup will be held in the United States, Mexico and Canada after FIFA's congress voted overwhelmingly on Wednesday to back the tri-nation joint bid for the tournament and leave Morocco to miss out for the fifth time. The 2026 tournament will be the first expanded tournament featuring 48 teams, up from the current 32-team tournament, which begins in Russia on Thursday.
  • In markets, the Dow Jones index fell 0.5%, or 120 points, to 25,201. The broader S&P 500 tumbled by 0.4%, while the technology-focused Nasdaq index dropped by a slight 0.1%. Over to Europe the FTSE remained flat at 7,704,the German DAX +0.4% at 12,890, and the Euro Stoxx 50 +0.1% at 3,480.

Published on: Thursday, June 14, 2018

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