Business News

5 things you need to know today

1. Energy Minister Angus Taylor has told The Australian that the Coalition is planning to introduce its "big stick laws" for energy companies. "This is a broad-ranging piece of legislation … the divestment powers are at the pointy end … but it is also about prohibitive actions, manipulation of wholesale markets, price gouging in the retail markets and derivatives market," Taylor said.

2. European Union president Jean-Claude Juncker has ruled out any renegotiation of Theresa May's Brexit deal.

3. After New Zealand's opposition National Party leaked details of the country's budget yesterday, NZ Treasury Secretary Gabriel Makhlouf said that there had been over 2,000 attempts to hack their website in the past 48 hours.

4. The Dow Jones fell 0.93% to 25,347.77 on the first trading day of the week in the US. The S&P 500 closed 0.84% lower to 2,802.39, while the Nasdaq dropped 0.39% to 7,607.35.

5. Canberra climber Gilian Lee has been rescued from Mount Everest, as 11 people have been reported dead or missing during the climbing season so far.

Published on: Wednesday, May 29, 2019

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