Business News

5 things you need to know today

  • Former AMP chairman Catherine Brenner will remain a director of Coca-Cola Amatil for up to another 12 months, despite shareholder pressure for her to go now. Coca-Cola Amatil chairman Ilana Atlas said the board wants Ms Brenner to stay in the "interests of shareholders". She also made note that Catherine Brenner is their longest serving director and has a deep understanding of the company's business and people.

  • The latest job figures will be released today by the Australian Bureau of Statistics. Economists are predicting 20,000 new jobs were created in April, and the unemployment rate to remain steady at 5.5%.

  • China has urged ally North Korea to proceed with a historic summit between its leader, Kim Jong-un, and US President Donald Trump, amid the North's threats to scrap the meeting. The call came as President Xi Jinping met with a delegation from North Korea's ruling Worker's Party, at which he expressed support for the North's avowed new emphasis on economic development along with improving relations with South Korea. White House spokeswoman Sarah Huckabee Sanders said the Trump administration was "still hopeful"that the planned summit with North Korea would take place.

  • Last minute preparations are in full swing ahead of the Royal Wedding on Saturday. Windsor has begun its security lockdown and the cost of it all is said to eclipse the 2011 figure. Hundreds of heavily-armed and unarmed police are patrolling the streets of Windsor, while weighty steel and concrete barriers have been placed around the town to prevent vehicle-ramming attacks. And from 5:00am on Saturday the skies above Windsor Castle will become a no-fly zone, preventing private and commercial planes from dropping below 2,500ft (762 metres). 

  • Wall Street bounced back overnight, thanks to a surge in retail and technology stocks even as traders remained on edge about geopolitics and rising US interest rates. The Dow Jones index rose 0.25% to 24,769. The broader S&P 500 and tech-heavy Nasdaq lifted by 0.4 and 0.6% respectively. Over to Europe, the FTSE +0.2% at 7,734 the German DAX +0.2% at 12,996 and the Euro Stoxx 50 remained flat at 3,563.

Published on: Thursday, May 17, 2018

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