Business News

6 things you need to know today

·      Eight of the 12 boys who were trapped with their soccer coach in a flooded cave complex in Thailand have now been freed. Authorities say the time for rescuing the others will depend on the weather. The mission is a race against the clock, with heavy rain expected this week which would again flood the tunnels with fast-flowing, rising water.

·      Billionaire James Packer has resigned from the board of his private family group, Consolidated Press Holdings (CPH) as he continues to wind back work commitments and focus on his mental health. It comes after Packer unexpectedly resigned from the Crown Resorts board in March.

·      AMP has put more than 300 advisers on notice that it may discontinue their licence to provide financial advice. The under-pressure wealth manager has been on a drive to reduce risks, amid a corporate watchdog probe and possible legal action.

·      Share bike operators Reddy Go and Ofo bikes will soon no longer be available in Sydney as the companies wind down their operations. Reddy Go has announced it will be giving away two free bikes to each customer as it undergoes restructure. The start-up has blamed “regulation” for the restructure.

·      British Prime Minister Theresa May has appointed Jeremy Hunt as foreign minister after predecessor Boris Johnson resigned in protest at the Government's plans for a close trading relationship with the European Union.

·      Overnight in the US, the Dow Jones rose 1.3pc at 24,777, the S&P 500 lifted 0.9pc at 2,784 and the Nasdaq +0.9pc at 7,756. Meanwhile in Europe, the FTSE +0.9pc at 7,688, DAX +0.4pc at 12,544.



Published on: Tuesday, July 10, 2018

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