Business News

5 things you need to know today

1. An independent review of the Australian Prudential Regulation Authority (APRA) led by Graeme Samuel has concluded that "APRA’s internal culture and regulatory approach need to change". A total of 24 recommendations were made in the review, with both APRA and the federal government supporting the recommendations.

2. Among the recommendations made in the APRA Capability Review was the creation of a new superannuation division. "Member outcomes and superannuation have often taken a ‘back seat’ — as they rarely raise financial stability issues," the review said.

3. In the trade war between the US and China, Donald Trump has commented that the US has "a long way to go as far as tariffs, where China is concerned, if we want", with the possible introduciton of an additional US$325 billion of tariffs on Chinese goods. "We’re talking to China about a deal.  But I wish they didn’t break the deal that we had," Trump said.

4. The major indexes on Wall Street have fell from all-time highs on Tuesday. The Dow Jones closed down 0.09% to 27,335.63, the S&P 500 dropped 0.34% to 3,004.04 and the Nasdaq fell 0.43% to 8,222.80. 

5. A gold coin weighing one tonne has been put on display outside the New York Stock Exchange to promote an ETF from Perth Mint. The coin is valued at over $60 million.

Published on: Wednesday, July 17, 2019

blog comments powered by Disqus

New on Switzer