In the US, trading comes to close shortly and the Dow Jones is down. The S&P 500 is down as well.

 

 

And the Australian dollar is worth just over 104 US this morning. It'll also buy you 65 British pence and 127 New Zealand.

 

 

A review of the way the GST revenue is divided up between the states has found Western Australia does not have a legitimate complaint. WA had argued it should keep more of the GST it raises rather than see it re-distribued to smaller states and territories. But the GST review says the current system is well-established, consistent and works satisfactorily. 

 

 

New research shows that since the global financial crisis, Australian firms are favouring external candidates over internal applicants for chief executive roles. The study conducted by the consulting firm Boos&Company also show 23.5 percent of CEOs left their job last year. That's compared to the global average of 14.2 percent.