Business News

5 things you need to know today

  • New Infrastructure Australia (IA) chair Julieanne Alroe will today propose that states and territories get extra money for infrastructure investment if they agree to deliver certain reforms. “By tying additional infrastructure funding to the delivery of key reforms, the Australian government has an opportunity to drive improvements in the way we plan, deliver and use our infrastructure," said Ms Alroe, who was previously chief executive of Brisbane Airport Corporation.
  • Australian Industrial Energy, the joint venture 50% backed by Andrew Forrest, has signed memorandums of understanding with 12 major industrial and commercial customers whose collective demand is equal 10% of the national gas market. Australian Industrial Energy wants to import liquid natural gas into NSW. The venture is also expected to confirm early this week which of two regional NSW ports - Newcastle or Port Kembla - will host the plant that will receive imported liquid natural gas shipments.
  • In their paid interview on Channel Seven’s Sunday Night program last night, Barnaby Joyce and his partner Vikki Campion apologised to his former wife and daughters and used the opportunity to criticise Prime Minister Malcolm Turnbull over his handling of the matter. “Generally, what happens in these things is you admonish someone privately, and you support them publicly. That's the sort of golden rule,” Joyce said of the Prime Minister.
  • The Commonwealth Director of Public Prosecutions (CDPP) is expected formally file charges this week against ANZ Bank, Citigroup and Deutsche Bank with regard to the criminal cartel allegations. The three banks said on Friday that they expected to be c charged over a $2.5 billion capital raising in 2015. ANZ has said it understood the CDPP also intended to bring charges against its treasurer, Rick Moscati, and the ACCC said charges would be brought against "a number of individuals".
  • On Friday The Dow Jones industrial average rose 219.37 points to close at 24,635.21, the S&P 500 gained 1.1%  to finish at 2,734.21. The NASDAQ closed up 1.5% higher at 7,554.33.


Published on: Monday, June 04, 2018

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