Business News

5 things you need to know today

  • Woolworths checkouts were disabled nationwide last night after a technical glitch saw 500 stores affected. Shoppers were being told to leave their trolley's and depart the store while staff contacted IT to rectify the issue. Woolworths Group CEO Brad Banducci said the outage lasted for approximately 30 minutes. An update to the IT systems caused the glitch.
  • Records continue to tumble for Australia's wine industry with new statistics showing export values are the highest in a decade. This comes as China reinforces itself as a boom market for Australian product with a 51% yearly growth marking the first time Australia has exported more that $1 billion of wine to a single country. Data from Wine Australia shows a 16% spike in overall value, to hit $2.65 billion between March 2017 to March 2018. The volume of exports also grew 10% in the same time frame, hitting a near-record 844 million litres of wine.
  • Wallabies star Israel Folau has said he is prepared to walk away from rugby if his situation becomes untenable due to his Christian beliefs. Folau was heavily criticised for a post on Instagram two weeks ago in which he said God's plan for gay people was "HELL". Folau said he has "no phobia towards anyone" but refused to back down on his beliefs, revealing he told Castle he would quit rugby if those beliefs were harming the game.
  • Netflix shares have soared more than 6% after adding nearly 2 million US subscribers in the first quarter. The streaming tech company posted quarterly earnings that were in line with expectations and revenue that was slightly above estimates. Netflix's addition of more than 7.4 million international subscribers set a new record, marking growth of 50% from a year ago. The company also said it expects to have $7.5 billion to $8 billion of content expenses this year, in line with previous estimates.
  • Wall Street has closed sharply higher overnight which was boosted by the technology and healthcare sectors, as markets shifted their attention away from the US-led missile strikes in Syria towards corporate earnings season. The Dow Jones surged by 213 points, or 0.9%, to 24,573 the S&P 500 +0.8% at 2,678 and the Nasdaq +0.7% at 7,156

Published on: Tuesday, April 17, 2018

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