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5 things you need to know today

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Published on: Thursday, August 29, 2019

1. Former Prime Minister Kevin Rudd wrote that there is a "real" risk of a recession in Australia next year in an opinion piece for the AFR. "Australia’s long-term economic growth is not a given. It has to be earned. By the concerted efforts of our creative innovators and entrepreneurs, our hard-working families – as well as focused government policy to underpin our immediate and medium term growth challenges," Rudd wrote.

2. The Queen has approved UK Prime Minister Boris Johnson's plan to suspend parliament beginning sometime between 9-12 September through to 14 October, limiting the time available for MPs to block a no-deal Brexit on 31 October.

3. Residential property prices could be set to soar in Sydney and Melbourne as early as next year according to SQM Research's Louis Christopher. "I'm increasingly confident that we're going to see double-digit growth in Sydney and Melbourne, even without another rate cut," Christopher said according to the AFR.

4. The Dow Jones gained 1.00% on Wednesday to close at 26,036.10, the S&P 500 lifted 0.65% to 2,887.94 and the Nasdaq rose 0.38% to 7,856.88.

5. Mayfair 101 has announced the appointment of ING Bank’s Chief Economist Mark Cliffe and Barclays Bank’s former head of Innovation Kirsty Rutter to the group’s advisory board. "The appointment of two of the UK’s leading financial experts to the Mayfair 101 Advisory Board is a powerful signal to validate the innovative approaches Mayfair 101 is taking to create value for its investors," Mayfair 101 founder and MD James Mawhinney said.


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