(Suh Myung-geon/Yonhap via AP)

5 things you need to know today

22 January 2020

The US has confirmed it's first case of the Chinese Coronavirus. An Australian man is in isolation in his home in Brisbane, after travelling to the epicentre of the virus, Wahun in China. The outbreak has come at a dangerous time, as millions of people plan to travel for the Lunar New Year, the biggest migration event in the world.
Congestion in Australia’s power grid threatens to hike household electricity bills and impact Australia's ability to achieve deeper cuts to carbon emissions following a collapse in renewable energy spending.
Speaking at Davos, President Trump has announced that the US would join an existing initiative to plant 1 trillion trees. However he called climate change activists "the perennial prophets of doom" who were predicting an "apocalypse". Greta Thunberg, who was also present for the speech said that planting trees is not enough to address climate change and that "Your inaction is fuelling the flames."
Reject Shop shares have doubled from $2.00 to $4.06, lifting the company's market value from $58 million to $117 million. The increase has happened in the space of a month, as investors anticipate a recovery in the retailer's fortunes under new chief executive Andre Reich.
On Wall Street shares closed lower, with Dow Jones down 152.06 points (0.52%) to 29,196.04, S&P 500 fell 8.83 points (0.27%) to 3,320.79 and Nasdaq declined 18.14 points (o.19%) to 9,370.81.

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