Business News

5 things you need to know today

  • AMP has appointed ex CBA boss David Murray as their new chairman, to be replacing Catherine Brenner after she was forced to step down earlier last week. AMP has moved quickly to try and rebuild its tattered reputation from evidence that was exposed at the banking royal commission. 
  • The government has confirmed high-income earners will receive tax relief in Tuesday's budget, but they will have to take a back seat to those on lower incomes whose taxes will be reduced from July 1 this year. Finance Minister Mathias Cormann said that they will be prioritising middle to low income workers first before phasing into the next stage.

  • US President Donald Trump has sparked anger in France and Britain by suggesting looser gun laws could have helped prevent the deadly Paris attacks in 2015, and linking a wave of London knife crime to a handgun ban. In a speech to the National Rifle Association, Mr Trump mimicked the shooting of victims in the Paris rampage, and said if civilians had been armed "it would have been a whole different story".

  • A volcano on Hawaii's Big Island has erupted over the weekend causing hot lava to move through the streets of the town Leilani. The flows destroyed or cut off several streets in the suburb home to 1700 people. At least five home have been destroyed by fire. Kilauea first erupted on Thursday, sending fountains of lava gushing out of the ground and billowing clouds of steam and volcanic ash into the sky on the eastern side of the island.

  • The warm and sunny weather that Sydney experienced over the weekend will continue through the week, with temperatures forecast to reach 25 degrees over the next four days. Rain is predicted to arrive by the weekend though, affecting Mother's Day plans with maximum temperatures forecast to drop to as low as 17 degrees on Friday. 

Published on: Monday, May 07, 2018

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