Business News

5 things you need to know today

  • The economic growth outlook is due today and Australia's current account deficit has widened because of increased imports and flat exports, which is likely to have weighed on December quarter economic growth. Commonwealth Bank senior economist Gareth Aird said he expects the national accounts to be released on Wednesday to be "a lukewarm set of numbers".
  • In a major breakthrough for a nuclear crisis that has created global anxiety for over a year, North Korean leader Kim Jong-un has agreed to discuss giving up his nuclear arsenal if talks are held with the United States. North Korea has also agreed to freeze missile tests during negotiations, another key US demand.

  • At least 30 people have been killed in western India when a truck carrying members of a wedding party crashed off a bridge and plunged into a large drainage ditch. Police told local media that the driver lost control and the bus fell 9 metres into a drain.The crash happened outside the village of Ranghola, on the Rajkot-Bhavnagar state highway.

  • An investigation into the apparent poisoning of Russian spy Sergei Skripal in the UK has gained momentum with counter-terrorism police to take charge, and the foreign secretary, Boris Johnson, promised a “robust” response if Russia’s government was found to be behind the case. Skripal, 66, has also been found to have links to the man who wrote the explosive Trump-Russia dossier. 

  • Australian shares are expected to open flat, following a cautious lead from US markets — worried about whether US President Donald Trump will enact his proposed tariffs on imported metals. Overnight, The Dow Jones remained flat at 24,884, the S&P 500 +0.3% at 2,728, Nasdaq +0.6% at 7,372. Over to Europe, the FTSE +0.4% at 7,147, the German DAX +0.2% at 12,114 and the Euro Stoxx 50 +0.1% at 3,359.

Published on: Wednesday, March 07, 2018

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