27 October 2020
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AP/JAMES ROSS

5 things you need to know today

Switzer Daily
14 August 2020

1. Australia's unemployment rate rose to 7.5% in July, which is the highest rate in 22 years, but is well below economist's forecasts of 7.8%.

2. NAB's third quarter earnings are down 7% compared to this time last year, with reported cash earnings at $1.55 billion. The number of deferred home loans fell from 92,000 in June to 86,000 in August.

3. The House of Representatives Standing Committee on Economics will meet via video conference with the Governor of the Reserve Bank of Australia today. Chairman of the Committee, Mr Tim Wilson MP, said "the committee will be scrutinising the RBA’s measures in response to the COVID-19 pandemic. We are interested in learning more about the RBA’s plans to support a strong recovery for the Australian economy".

4. Woolworths will announce its first chief medical officer, Dr Rob McCartney, today in a bid to reaffirm the company’s commitment to health and safety during COVID-19. Dr McCartney will provide direct input to the board and group executives to help shape policies that will protect the safety of customers and staff. One of his first tasks include helping Woolworths develop a nation-wide policy for face coverings. 

5. The ASX is tipped to slip today. The Dow closed 0.29% lower at 27,896.72, the S&P 500 was down 0.20% to 3,373.43 and the Nasdaq was up 0.27% to 11,042.50.

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