Business News

5 things you need to know today

1. NAB chairman Ken Henry and chief executive Andrew Thorburn have both resigned, with Henry telling ABC's 7.30 that the pair are "deeply sorry".

2. President Donald Trump has said he will not meet with Chinese President Xi Jinping before the current trade truce between the two countries runs out on March 2. Trump is scheduled to meet with Kim Jong Un in Vietnam later this month.

3. Wall Street stocks fell in response to no trade meeting, pushing the Dow Jones down 0.87%, the S&P 500 down 0.94% and the Nasdaq down 1.2%.

4. British Prime Minister Theresa May has promised to deliver Brexit "on time" after meeting with European Union officials in Brussels, while European Council President Donald Tusk tweeted that there was "still no breakthrough in sight". 

5. Losses in Townsville are currently estimated to be $124 million by the Insurance Council, with 252 of the 1,480 homes that have been assessed declared as "completely uninhabitable" and 738 as severely damaged. 

Published on: Friday, February 08, 2019

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