29 March 2024
1300 794 893

5 things you need to know today

Switzer Daily
19 February 2020

1. Ten of the top universities in Australia could see a loss of up to $1.2 billion in fees due to the coronavirus travel ban. Analysis by The Australian suggests that over 60% of the estimated 109,000 Chinese students due to start courses in the first semester are still in China.

2. Treasurer Josh Frydenberg has resisted calls from Liberal MPs to remove the luxury car tax originally designed to protect Holden and other local carmakers. "Removing the luxury car tax could play a simple but important part," Liberal MP and chair of the Standing Committee on Economics, Tim Wilson, told The Australian.

3. HSBC has announced it is planning to cut 35,000 jobs, or around one in seven of its global workforce, after the bank reported its pre-tax profit fell by a third in 2019. "The Group’s 2019 performance was resilient, however parts of our business are not delivering acceptable returns. We are therefore outlining a revised plan to increase returns for investors, create the capacity for future investment, and build a platform for sustainable growth," CEO Noel Quinn said.

4. Reporting season's biggest week continues today. Companies due to report today include Cleanaway Waste Management, Crown Resorts, Domino's, Fortescue Metals, Nearmap, Seven, Sonic Healthcare, St Barbara, Stockland, Tabcorp, Vocus Group, Vicinity Centres, Webjet, Wesfarmers and WiseTech Global.

5. The Dow Jones fell 165.89 points or 0.56% to 29,232.19 and the S&P 500 fell 9.87 points or 0.29 points to 3,370.29 on the first day of the trading week. The Nasdaq remained positive with a minor gain of 1.57 points or 0.02% to 9,732.74.

Comments
Get the latest financial, business, and political expert commentary delivered to your inbox.

When you sign up, we will never give away or sell or barter or trade your email address.

And you can unsubscribe at any time!
Subscribe
1300 794 893
© 2006-2021 Switzer. All Rights Reserved. Australian Financial Services Licence Number 286531. 
shopping-cartphoneenvelopedollargraduation-cap linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram