Business News

6 things you need to know today

  • Barnaby Joyce supporters are rallying behind the Deputy PM, with many pleading with Nationals colleagues to give him time to rehabilitate his image in a bid to shut down the rush to dump him as a leader. Many are arguing that his personal life is nothing to do with anyone else but himself.
  • John McGrath has decided against becoming the company's executive chairman with plans to focus on restoring investor confidence. Kerry Stokes’s former chief financial officer, Peter Lewis will soon be announced as the new chairman of the battered listed real estate agency John McGrath founded in 1988.
  • Australia is discussing with the US, India and Japan, the establishment of a joint regional infrustructure scheme to rival China's multi-billion dollar Belt and Road Initiative in an attempt to counter Beijing's spreading influence. 
  • A Russian curling medalist at the PyeongChang Winter Olympics is suspected of having tested positive for a banned substance. This comes as a major blow to Russia's efforts to emerge from a drug-cheating scandal. Aleksandr Kruhelnitckii, a bronze-medallist along with his wife in mixed doubles curling, is suspected of having tested positive for meldonium which increases blood flow, improving exercise capacity in athletes. 
  • Survivors of the Florida school shooting which occured last week have slammed Trump after his tweet blaming the FBI for the deadly shooting. Trump tweeted Saturday night that the FBI was too caught up in the Russia probe to see the signals leading to Wednesday's shooting massacre at a south Florida high school.
  • Australian shares are poised for a soft open as investors await December quarter wage data and digest earnings updates from major companies, including BHP Billiton. ASX futures were seven points lower over the weekend after the pace of Wall Street's recovery rally eased ahead of a three day break in the US. For investors, the focus this week is on the December-quarter wage price index which comes out Wednesday.

Published on: Monday, February 19, 2018

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