24 April 2024
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AP/JAMES ROSS

5 things you need to know today

Switzer Daily
1 May 2020

1. Amazon released its first-quarter earnings, recording $75.45 billion worth of revenue, which is a significant increase. Amazon said they would spend all their Q2 profits dedicated to coronavirus response.

2. Apple shares dropped 2% as their revenue increase was lower than expected due to coronavirus. The company also did not issue guidance for the quarter ending in June due to coronavirus uncertainty.

3. UK Prime Minister Boris Johnson stated the UK was "past its peak" of coronavirus, despite infection and death tolls rising. The UK's death toll stands at 26,711 and over 171,000 people have tested positive for the virus. The UK government plans to release a lockdown lift roadmap next week.

4. Australian billionaires Andrew "Twiggy" Forrest and Kerry Stokes have called for a deescalation of firmness toward China, after the Australian government backed an inquiry into the origins of the virus. Stokes' newspaper The West Australian said "poking our biggest provider of income in the eye" could have extreme economic impacts on Australia. Prime Minister Scott Morrison told Alan Jones on 2GB this morning that Twiggy should stay away from foreign affairs.

5. Wall Street fell yesterday, with the Dow closing down 1.17% to 24,345.7, the S&P 500 down 0.92% to 2,912.43 and Nasdaq dropping 0.28% to 8,889.55.

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