Business News

5 things you need to know today

  • Hours after Optus chief executive Allen Lew offered an apology for the streaming problems that have plagued the World Cup coverage, users were again forced to vent their frustration as another match proved unwatchable due to technical issues. Football fans across Australia found themselves unable to watch matches from the world's biggest sporting event as system crashes and playback errors affected the company's mobile app and desktop site.
  • Two gunmen have opened fire at the annual 24-hour festival , Art All Night in New Jersey over the weekend. At least 22 people have been injured while three others are in a critical condition. One of the suspects, a 33-year old man was fatally shot by police while the other was arrested. 
  • Channel Nine will be without a major spot this coming summer. Nine Entertainment Co chief execuive Hugh Marks walked away from negotiations with Seven West Media, meaning that Nine will be without a mainstream sport this summer after losing the rights to broadcast cricket to Seven and Foxtel this year. 
  • US President Donald Trump has announced hefty tariffs on $US50 billion of Chinese import as Beijing responded in kind, escalating a trade dispute between the world's two largest economies. Mr Trump, whose hard-line stance on trade has seen him wrangle with allies, said in a statement that a 25% tariff would be imposed on a list of strategically important imports from China. The US Trade Representative's (USTR) office said the tariffs would begin on July 6, and be implemented in two tranches.

  • Treasurer Scott Morrison had rejected the latest demand to split the tax bill, accusing Labor of indecision on income tax cuts worth $144 billion as he insists the government will not succumb to Senate pressure to split its policy when it goes to a vote in the next two weeks.

Published on: Monday, June 18, 2018

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