Business News

5 things you need to know today

  • 50 protestors have been killed in Gaza City after Israeli forces shot and killed at least 55 Palestinians and wounded more than 1200 during mass protests Monday along the Gaza border, while just a few kilometres away Israel and the US held a festive inauguration ceremony for the new American Embassy in contested Jerusalem.
  • It will soon be much easier to Airbnb a boat after the Maritime Safety Authority considers relaxing regulations. Under Australian law it is not illegal for boat owners to rent out their vessels in an Airbnb-style arrangement, but doing so automatically changes the boat's status from a recreational to a commercial vessel. The commercial classification subjects the owner to increased requirements around obtaining certificates and certifications, an obligation which is out of reach for many owners.
  • Australians who do not want their medical records stored on a national electronic database can opt out of the scheme from July 16 to October 15 this year. Alternatively, people will retain their My Health Record, an online summary of personal health information uploaded by care providers. The Australian Digital Health Agency, which is administering the scheme, said individuals can cancel their My Health Record at any time, or create one if they previously opted out.
  • Telstra has refused to rule out doing business with telecommunications supplier ZTE, which is shortlisted to build Australia's high-speed mobile network, after claims the Chinese-based company is corrupt. Australia's biggest telco has defended its high standards when choosing suppliers after revelations that ZTE has been involved in systemic foreign bribery and corrupt payments to government officials, but Telstra has not taken the Chinese telco off a shortlist of five companies that could build Australia's 5G network. Telstra chief financial officer Warwick Bray said the company had noted reports about ZTE and that Telstra had "the strongest supplier governance and policies and we always review new material."
  • Australian shares are expected to open without much momentum this morning, despite a mildly positive finish on Wall Street overnight. In markets, the Dow Jones +0.3% at 24,899, S&P 500 +0.1% at 2,730, Nasdaq +0.1% at 7,411. Over to Europe, the FTSE -0.2% at 7,711 the German  DAX -0.2% at 12,978 and the Euro Stoxx 50 remained flat at 3,566.

Published on: Tuesday, May 15, 2018

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