Business News

5 things you need to know today

1. Over the past decade, 18 industry super funds have delivered returns below the median according to APRA figures published by the AFR, with funds connected to the Transport Workers Union and National Union of Workers potentially in Bill Shorten's firing line if his plan to go after funds with poor performance goes ahead.

2. AMP has warned that its net profit attributable to shareholders is expected to drop by 96% in the fallout of the banking royal commission, from $848 million last year to $30 million.

3. US Commerce Secretary Wilbur Ross has told CNBC that the US is "miles and miles" away from reaching a trade deal with China, and there were still "lots and lots of issues".

4. The Dow Jones slipped slightly overnight to close 0.09% lower, while the S&P 500 rose by 0.14% and the Nasdaq was up 0.68%.

5. Rafael Nadal has defeated Stefanos Tsitsipas and will head to the finals of the Australian Open for the fifth time. Nadal will face tonight's winner of the semi-final match between Novak Djokovic and Lucas Pouille.

Published on: Friday, January 25, 2019

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