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7 things you need to know today

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Published on: Friday, February 02, 2018

  • Google has lost its title of world's most valuable brand as Amazon takes over. Google fell to third place on the 2018 Brand Finance Global 500 report, despite increasing its brand value to $13.7 billion. Still, it sat well behind Apple ($146 billion) and Amazon ($187.5 billion). 
  • Amazon jumped more than 5% following a strong earnings report on Thursday. The company reported earnings of US$3.75 per share and revenue of US$60.5 billion for the fourth quarter.
  • Sydney and Melbourne have posted another fall in house prices, with prices falling 0.9% and 0.2% respectively. Sydney prices have fallen 3.1% since the peak of the market last July and while Melbourne remained steady at 8%, it's expected that this will soon drop and match Sydney's prices within the next 12 months.
  • Ranked 8th on the Bloomberg Billionaires Index at his death, IKEA founder Ingvar Kamprad's assets will be dissipated due to a structure put in place by Kamprad to secure the long term independence and survival of the IKEA concept. Kamprad's heirs wont have direct control, rather they will have a meagre fortune derived from the family owned Ikano Group which had assets of $US10 billion.
  • Divers have killed almost 47,000 crown-of-thorns starfish on the Great Barrier Reef in just seven days, breaking a record in the process. The 25 divers went on a nine day expedition to reduce the number of the viscious creatures that are slowly killing the reef. 
  • Bitcoin has further dropped below its key $9000 level, following reports that raised worries about increased regulation in India and a potential price manipulation at a major exchange. The digital currency has fallen nearly 13% after India's minister of finance Arun Jaitley raised concerns about increased regulation on cryptocurrencies in the country.
  • In markets overnight: The Dow Jones finished 0.14% higher at 26,186, the S&P 500 finished lower on 0.06% at 2,821, and the Nasdaq closed lower on 0.35% at 7,385. In Europe, the FTSE closed lower on 0.56% at 7,490 and the German DAX finished lower on 1.41% at 13,003.

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