Business News

6 things you need to know today

  • Today, Thursday the 8th of March marks International Women's Day. Purple is the official color of International Women’s Day, founded more than a century ago after some 15,000 women marched in New York City to demand better working conditions and voting rights. The current iteration of the day is intended to celebrate women’s social, economic, and political achievements and to call for gender equality.

  • Australia's GDP growth slipped to 2.4% over 2017. It is a step-down from the annualised rate of 2.8% recorded in the third quarter, and weaker than market expectations. It also means that there was no acceleration from 2016, when GDP also grew at 2.4%. ABS chief economist Bruce Hockman, said that the main driver behind the GDP growth was the household sector with continued strength in household income matched by growth in household consumption

  • Three years after its rapid rise, Doughnut Time's fortunes came crashing down on the weekend — dropping from an empire of 30 stores to just seven. These remaining stores are located in Melbourne (Degraves, Fitzroy, Chapel Street), Brisbane (Clayfield and South Bank), the Gold Coast, and the Sydney suburb of Newtown.

    At its peak, the company had more than 400 staff, but that number had dwindled to less than 100 before the weekend store closures.

  • Police believe a nerve agent was used to deliberately poison a former Russian double agent and his daughter, Britain's top counter-terrorism officer says, in a case that threatens to further damage London's ties with Moscow. Sergei Skripal, once a colonel in Russia's GRU military intelligence service, and his 33-year-old daughter, Yulia, were found slumped unconscious on a bench outside a shopping centre in the southern English city of Salisbury on Sunday afternoonBoth remain critically ill and a police officer who attended the scene is also in a serious condition in hospital and police are treating the incident as major involving attempted murder.

  • Foreign Minister Julie Bishop says she has "no expectation" that Australia will be spared the Trump administration's steel and aluminium tariffs. The Federal Government has been pressing key figures in the administration to exempt Australia from the tariffs. Ms Bishop says while some companies might be exempted, it is clear no countries will be.

  • Wall Street sinks on Gary Cohn's resignation as there are increasing fears of a trade war. To markets, the Dow Jones -0.3% at 24,802, S&P 500 flat at 2,727 and the Nasdaq +0.3% at 7,397. Over to Europe, the FTSE +0.2% at 7,158, DAX +1.1% at 12,245, Euro Stoxx 50 +0.7% at 3,380.

Published on: Thursday, March 08, 2018

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