Business News

5 things you need to know today

1. Scott Morrison has announced his new Cabinet, with most senior positions remaining unchanged. Morrison also indicated his intention to make the National Disability Insurance Scheme into its own separate ministry.

2. The Prime Minister is set to travel to the Solomon Islands next week and is making relations with Pacific nations a top priority according to The Australian, which said the aim of the trip was to "counter growing Chinese influence over Australia’s regional neighbours".

3. Bill Shorten is expected to remain a frontbencher in Anthony Albanese's shadow cabinet and Jim Chalmers is reportedly set to become the party's Treasury spokesman.

4. Following Theresa May's announcement that she will resign on June 7, Boris Johnson is currently seen as the most likely successor as Conservative Party leader and Prime Minister. 

5. The Dow Jones fell 0.7% last week, marking the fifth week in a row that the index has fallen, which is the longest streak since 2011 according to CNBC

Published on: Monday, May 27, 2019

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