Business News

5 things you need to know today

  • AMP's record-high negative 61% vote against its remuneration report is the least of the wealth manager's worries when weighed against the prospect of the company's core advice business disintegrating. The securities regulator could put the last nail in the AMP advice coffin with its planned ban on grandfathered commissions, which form the majority of revenue for AMP's financial planners.

  • US President Donald Trump said he will meet with North Korean leader Kim Jong-un on June 12 in Singapore for a first ever summit between the leaders of the two countries. Trump's announcement came just hours after three Americans who had been held prisoner in North Korea arrived at a US military base outside Washington, having been released by Kim as a gesture ahead of the summit. Trump said on their arrival that he believed Kim, who has led North Korea for seven years and is believed to be in his mid-30s, wanted to bring North Korea "into the real world".

  • Jessica Mauboy has made it through to the final of the Eurovision contenst over night. Earlier this week in the first semi-final, 10 countries advanced into the grand final: Austria, Estonia, Cyprus, Lithuania, Israel, Czech Republic, Bulgaria, Albania, Finland and Ireland. Last night, Australia added its name to that list, along with Serbia, Moldova, Hungary, Ukraine, Sweden, Norway, Denmark, Slovenia and The Netherlands.
  • Australian scientist David Goodall has ended his life at a euthanasia clinic in Switzerland. The 104-year old had to answer twice the four questions - what is your name, what is your date of birth, why have you come to the clinic and do you know what will happen when you press this button? - that are asked of anyone seeking to undergo voluntary euthanasia because, due to his arthritis, he was unable to press the button to release the deadly injection on his first attempt. Mr Goodall has been an advocate for euthanasia in Australia.
  • Australian shares are expected to make gains in early trade after a strong night on Wall Street, boosted by Apple and technology stocks. The S&P and Nasdaq indexes each gained 0.9%. The Dow Jones rose 0.8%, or 197 points, to 24,740. Over to Europe the FTSE +0.5% at 7,701, DAX +0.6% at 13,023 and the Euro Stoxx 50 remained flat at 3,570.

Published on: Friday, May 11, 2018

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