Business News

6 things you need to know today

  • The weekend saw the US stockmarket suffer its biggest fall in two years after the Dow Jones plummeted by almost 666 points. Concerns about the impact of a tightening job market on the prospects of inflation and a surge in bond yields appeared to have sent investors fleeing equities. The US dollar is also hovering near multi-year lows. 
  • The threat of a giant gas bill is looming towards Australian households with the threat of Australians paying as much as $430 more for electricity by the end of next year, unless wholesale gas prices are brought under control. According to the ACCC, gas prices on the east coast should be between $6.30 and $7.80 per gigajoule, however the price is currently above $9 with the highest price up to $22.
  • Nine Entertainment has taken the top spot for advertising revenues knocking out Seven West Media who has claimed the title for the past 13 years. It remains a tight race between the top two networks. Nine’s share of the market for 2017 increased to 38.3 per cent, while Seven and Ten Network had 37.9 per cent and 23.8 per cent respectively.
  • Two people have died and at least 116 people injured after an Amtrak Train 91 hit a CSX Corp freight train in South Carolina. The Amtrak train was on the wrong track when it slammed into the parked CSX train, causing it to de-rail.
  • The Winter Olympics are set to kick off this week in South Korea's Gangwon Province. This marks the first time in the last 30 years that the Winter Olympics will take place in South Korea, since Seoul held the Olympic Games in 1988. 102 events will take place across PyeongChang, Jeongseon, and the coastal city of Gangnueung.
  • The 52nd Superbowl is set to kick off today at 10:30am (AEST) with the New England Patriots taking on the Philadelphia Eagles to claim their 4th Superbowl title at the U.S Bank Stadium in Minneapolis. The halftime performer is Justin Timerlake.

Published on: Monday, February 05, 2018

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