Business News

5 things you need to know today

  • President Donald Trump has cancelled a high stakes summit with North Korean leader Kim Jong-un in dramatic (non-Trump style) - a formal letter, not a tweet, blaming  "tremendous anger and open hostility" in a recent statement from the North. The shock announcement appears to have caught South Korea by surprise with the office of President Moon Jae-in, who visited Trump in Washington a day earlier, saying it was trying to understand Trump's intentions.
  • Trump has praised Australian Anthony Pratt after Pratt was listed number one on this year's Financial Review Rich List. Pratt is worth a whopping $12.90 billion, beating Harry Triguboff and Gina Rinehart.
  • Investigators have confirmed that a Russian missile was used to shoot down flight MH17 on July 17 2014, on route from Amsterdam to Kuala Lumpur. This is the first time the official investigators have named the Russian Federation's 53rd anti-aircraft missile brigade based in Kursk.
  • Johnson & Johnson have been ordered by a California jury to pay $US25.7 million in damages to a 68-year-old woman who claimed her deadly cancer as caused by asbestos in the company's baby powder.The jury awarded $US21.7 million in compensatory damages and $US4 million in punitive damages to Joanne Anderson, finding J&J 67% responsible for her mesothelioma, a cancer linked to asbestos exposure. Anderson's lawyers said she was exposed to baby powder laced with the carcinogen when she used it on her children and while bowling. 
  • In markets, the Dow Jones -0.3% at 24,812, S&P 500 -0.2% at 2,728 and the Nasdaq remained flat at 7,424. Over to Europe, the FTSE -0.9% at 7,717 the German DAX -0.9% at 12,855 and the Euro Stoxx 50 -0.5% at 3,524.

Published on: Friday, May 25, 2018

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