Business News

5 things you need to know today

  • Ladies and gentleman, we have a new Deputy Prime Minister. Michael McCormack was appointed the new role after the Barnaby Joyce saga, which ended on Friday when Joyce fell on his sword. McCormack says he will be considering who becomes transport and infrastructure minister, the portfolio vacated by Joyce.
  • A 7.5 magnitude earthquake has struck the middle of Papua New Guinea. The quake hit about 90 kilometres south-west of Porgera in the early hours of this morning at a depth of 35 kilometres. It is not yet known if there have been any casualties, but there are reports of significant damage.
  • More than 100 schoolgirls are missing in Nigeria after a Boko Haram attack at a school in the town of Dapchi in the north-eastern Nigerian state of Yobe. The abduction is the largest since the 270 schoolgirls were taken from Chibok in 2014, fearing that the girls were taking to be brides for the extremists.
  • Aldi and IGA have received extremely low scores in a new study that assessed the efforts being made by Australia’s top supermarkets to help tackle the obesity crisis. With two-thirds of Australian adults overweight or obese, researchers analysed the obesity prevention and nutrition-related policies and commitments of the four main supermarket chains and gave each a score out of 100. Woolworths earned 46, while Coles received 40. Aldi and IGA performed poorly, receiving dismal scores of 11 and 8 respectively.
  • The ASX reporting season has shown that Australian profits are up but are still lagging the rest of the world. Results season wraps up with around three-quarters of the ASX200 reporting higher profits than a year ago.

Published on: Monday, February 26, 2018

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