13 December 2019
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AAP Image/Mick Tsikas

5 things you need to know today

Switzer Daily
7 November 2019

1. Former shadow treasurer Chris Bowen said that Labor's proposed changes to franking credits that it took to the last election were not solely to blame for the party's loss. According to the AFR, Bowen said many of those affected still voted Labor, but the party struggled to keep the vote of "blue collar workers who don't have franking credits".

2. Attorney-General Christian Porter has warned that directors of companies found to be underpaying their workers could face a ban from sitting on boards in an interview with The Australian. "I suspect the only way you will get board directors who sit on boards and get 180 grand a year for 12 meetings to take this stuff seriously is if there is something on the line for them," Porter said.

3. The federal government will today pledge over $1 billion in assistance to farmers and small businesses affected by the drought, with loans of up to $500,000 available for small businesses.

4. The US and China are still reportedly negotiating the details of a partial trade detail, with discussions ongoing as to where Donald Trump and Xi Jinping will meet to sign the deal. The two leaders were due to meet at the APEC summit in Chile before it was cancelled, with a new meeting now set to potentially take place in December.

5. The Dow Jones closed flat with a drop of just 0.07 points to end at 27,492.56, and similarly the S&P closed only slightly higher with a 0.07% gain to 3,076.78. The Nasdaq fell 0.29% to 8,410.63.

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