Business News

5 things you need to know today

1. Kelly O'Dwyer, the Minister for Jobs, Industrial Relations and Women, has told the ABC that Liberal MPs were subject to "threats and intimidation and bullying" during the leadership spill. Liberal Senator Lucy Gichuhi also said she may use parliamentary privilege to name those who bullied her.

2. Interest rates are expected to remain on hold for the 25th consecutive month when the Reserve Bank announces its decision later today.

3. Richard Liu, the founder and CEO of Chinese e-commerce giant JD.com, was arrested in the US on the weekend over allegations of sexual misconduct. Liu, who is worth an estimated US$10.8 billion according to Forbes, was not charged and has since returned to China.

4. Paul Keating has recommended that all super funds be non-profit. The former PM told The Australian Financial Review that the banking royal commission should recommend retail super funds stop putting profits ahead of its members.

5.  Great Keppel Island, near the Great Barrier Reef, is set to become the "world's largest cryptocurrency-backed property deal" according to a report in The Sydney Morning Herald. $300 million worth of development, including a resort and golf course, will be funded through the sale of "Great Keppel Island Tokens".

Published on: Tuesday, September 04, 2018

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