Business News

5 things you need to know today

  • Seven West Media has sold its 50% stake in Yahoo7 to joint venture partner Oath Inc. After spending two years building its digital strategy, it’s understood Seven exercised its put option requiring Oath to buy the remaining half of the Yahoo7 business. The transaction is expected to be completed by August.

  • A plan to give big businesses a $65 billion tax break has been put off until at least May. The Turnbull government has been negotiating with crossbench senators to push through the legislation, which would see the tax rate for all Australian businesses cut from 30 to 25%. But Finance Minister Mathias Cormann told the Senate the government did not have the nine votes required to push it through.

  • Smith, Warner and opener Bancroft have all been sent ordered home from South Africa in the wake of the ball-tampering scandal which has rocked the sport. Cricket Australia chief executive James Sutherland insisted no other players or support staff had prior knowledge of the intention to tamper with the ball.
  • A train believed to be carrying a senior North Korean delegation has left the Chinese capital following a dramatic whirlwind visit that some reports said included the country's leader Kim Jong-un. It has been reported that Kim had travelled to Beijing for meetings with Chinese President Xi Jinping on Monday afternoon before leaving for a "third location" on Tuesday.

  • Tech stocks including Facebook and Twitter have caused the Dow Jones to slide. The DJ finished 1.4% lower at 23,858, S&P 500 -1.7% at 2,613, Nasdaq -2.9% at 7,009. Over to Europe, the FTSE +1.6% at 7,000, DAX +1.6% at 11,971, Euro Stoxx 50 +1.2% at 3,317.

Published on: Wednesday, March 28, 2018

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