17 May 2021
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5 things you need to know today

Switzer Daily
28 April 2021

1. PM pauses flights from India

Prime Minister Scott Morrison has announced flights from India will be paused until at least May 15 as the death toll from COVID-19 in the country approaches 200,000. About 9,000 Australian citizens currently remain in India. "As a close friend and comprehensive strategic partner, Australia stands with India as it battles a surge in COVID-19 cases," the PM said in a statement.

2. Justin Hemmes takes Merivale to Melbourne

Justin Hemmes has acquired the iconic Tomasetti House on Flinders Lane to open Merivale's first location outside of NSW. Numerous sources told The Australian Financial Review that Hemmes had struck a $40 million-plus deal to buy the seven-storey brick and bluestone building. The Merivale boss said he is committed to doing whatever he can to reinvigorate the Melbourne CBD and support its road to recovery.

3. US will share AstraZeneca vaccines with the world.

The Biden administration have announced that they will begin to share roughly 60 million doses of AstraZeneca’s COVID-19 vaccine with other countries given the United States has no need for them. The White House is still in the planning process on where the vaccines will be distributed, but India will be an obvious choice given the current uncontrolled surge of COVID-19 cases there.

4. Kanye West's sneakers sell for $2.3 million

A prototype pair of Nike Air Yeezy sneakers designed by Kanye West and worn at the 2008 Grammy Awards have sold for US$1.8 million ($2.3 million), setting a new record for most expensive sneakers at auction. "The sale speaks volumes of Kanye’s legacy as one of the most influential clothing and sneaker designers of our time," said Sotheby’s head of streetwear and modern collectables Brahm Wachter.

5. Dow and S&P 500 flat on Tuesday

The Dow Jones and S&P 500 both barely changed from the close on Monday, with the Dow moving 3.36 points or less than 0.01% higher to 33,984.93 and the S&P 500 falling 0.90 points or 0.02% to 4,186.72. The Nasdaq fell from its latest record high reached yesterday, ending the day down 48.56 points or 0.34% to 14,090.22. Tesla was one of the biggest losers of the day following its latest earnings, closing down 4.53% to US$704.74.

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