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5 things you need to know today

  • At least 18 people have been killed and more than 90 wounded in an explosion in Baghdad's Sadr City district. An Interior Ministry spokesman said in a brief statement the blast was the result of the detonation of an ammunitions cache and that security forces had opened an investigation. The ammunition had been stored in a mosque and the explosion happened during its transfer into a car parked nearby.

  • The rally in technology stocks these past few days has come to an abrupt halt, as investors keep their eyes on global trade tensions. China's second-largest telecommunications equipment company, ZTE Corporation, secured a lifeline from the Trump administration on Thursday (local time). ZTE has agreed to pay a $US1 billion fine and overhaul its board within 30 days, in a deal that will lift a ban on its business activities with US suppliers.

  • Advertising mogul John Singleton has offloaded the leasehold of Sydney's Bondi Beach’s Icebergs Dining Room and Bar for about $15 million – the first time it has changed hands. One of the country’s most famous hospitality venues, the restaurant space has been scooped up by the Melbourne-based O’Brien Group, Australia and New Zealand’s biggest private hospitality business. 

  • US President Donald Trump could potentially invite Kim Jong-un to the US if the summit negotiations in Singapore go well. Mr Trump said he would probably favour the White House over his private Mar-a-Lago club in Palm Beach, Florida, as a venue for hosting Mr Kim, saying: "Maybe we'll start with the White House."

  • In markets, tech stocks have lost their steam while the Dow Jones  0.4% to 25,241, and the S&P 500 fell slightly by 0.1%. The Nasdaq dropped by a sharper 0.7%, driven by losses in big-name technology stocks. Over to Europe, the FTSE -0.1% at 7,704, DAX -0.2% at 12,811, Euro Stoxx 50 flat at 3,462

Published on: Friday, June 08, 2018

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