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5 things you need to know today

  • Bill Cosby has been found guilty of drugging and molesting a woman in the first big celebrity trial of the #MeToo era, completing the spectacular late-life downfall of a comedian who broke racial barriers in Hollywood on his way to TV superstardom as America's Dad. Cosby, 80, could end up spending his final years in prison after a jury concluded he sexually violated Temple University employee Andrea Constand at his suburban Philadelphia home in 2004. He claimed the encounter was consensual.

  • AGL has released details for a gas-fired power plant in New South Wales, as part of its plans to replace the aging Liddell coal-fired station and move towards cleaner energy. The company said it was investing up to $400 million in the 252-megawatt facility to be built near Newcastle and be completed during 2022.

  • President Donald Trump has admitted his personal lawyer Michael Cohen represented him during the "Stormy Daniels" deal after previously denying any knowledge of a payment Mr Cohen made to the adult actress alleging an affair with Mr Trump.

  • Oil and gas giants will be forced to pay billions more in tax under changes to the Petroleum Resources Rent Tax that could also deliver the Turnbull government a shock victory on its stalled company tax cuts. It is understood next month's budget will tackle longstanding concerns about the way energy companies are taxed by curbing uplift concessions, which determine tax deductions associated with exploration and construction. 

  • Australian shares are set to open higher, after a strong day on Wall Street, boosted by Facebook and other major technology stocks. The Dow Jones +1% at 24,322, S&P 500 +1% at 2,667, Nasdaq +1.6% at 7,119. Over to Europe, the FTSE +0.6% at 7,421, DAX +0.6% at 12,500, Euro Stoxx 50 +0.6% at 3,507.

Published on: Friday, April 27, 2018

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