Business News

5 things you need to know today

  • The Australian Prudential Regulation Authority (APRA) has handed down a damning report about culture at the Commonwealth Bank following allegations that it broke anti-money laundering and counter-terrorism financing laws on almost 54,000 occasions. APRA imposed a $1 billion capital penalty and a court-enforceable agreement to implement 35 changes recommended by a high-powered panel.
  • The Australian dollar is plumetting. It's fallen to it's lowest level since June 6, 2017, driven by another surge in the US dollar index, which jumped to a four-month high.
  • Apple’s stock was up over 4% overnight following a strong Q2 earnings announcement yesterday, which showed the companies profit and earnings were higher than Wall Street expectations. Earnings per share were up 30% from a year ago while the company also announced a $100 billion share buyback.
  • Facebook’s annual developer conference (F8), kicked off Tuesday morning in the US. The biggest product news of the event was Facebook’s decision to offer its own online dating service. It was also announced that they'll add a clear history feature that deletes all your browsing data from your account.
  • Overnight in the US, the Dow Jones  fell 0.3pc at 24,099, S&P 500 rose 0.25pc at 2,655 and Nasdaq up 0.9pc at 7,131. In Europe, the FTSE rose 0.2pc at 7,520 and the DAX jumped 0.25pc at 12,612.

Published on: Wednesday, May 02, 2018

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