Business News

5 things you need to know today

1. Following the Reserve Bank's interest rate cut on Tuesday and hints that US rates cuts may be necessary from Fed chairman Jerome Powell, Morgan Stanley CEO James Gorman has told the AFR that central banks "are only controlling one end of the spectrum: they are not controlling geopolitical risks, they are just controlling rates".

2. Prime Minister Scott Morrison has distanced his government from AFP raids on News Corp journalist Annika Smethurst on Tuesday and the ABC yesterday.

3. 16 World Leaders, including Scott Morrison, Donald Trump, Theresa May and Angela Merkel, have attended a commemoration in England marking the 75th anniversary of D-Day. The leaders all signed an agreement to "resolve international tensions peacefully".

4. Negotiators from the US and Mexico have failed to reach a trade deal after meeting on Wednesday. Donald Trump announced last week that 5% tariffs will be introduced on all imports from Mexico beginning June 10.

5. The Dow Jones and S&P 500 both rose by 0.82% overnight to 25,539.57 and 2,826.15 points, respectively. The Nasdaq closed 0.64% higher on 7,575.48.

Published on: Thursday, June 06, 2019

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