Business News

5 things you need to know today

  • The summit between the US and North Korea leaders that looked like it would not go ahead, appears to again be a possibility with positive-sounding statements from both sides after a surprise meeting between South Korean President Moon Jae-in and North Korea's Kim Jong-un on Saturday. Mr Moon has said that Mr Kim has reaffirmed his commitment to 'completely denuclearise' the Korean peninsula. 
  • Morgan Freeman has been accused of sexual harassment by several women. The accusations ranged from unwanted touching to sexually suggestive comments — on movie sets, in office environments and during meetings with the news media. Freeman said in a statement on Fridat that the accusations have "devastated" him and "it's not right to equate horrific incidents of sexual assault with misplaced compliments or humour". 
  • Nick Kyrgios has withdrawn from the French Open with an elbow injury. Kyrgios made the call to withdraw from the clay-court grand slam on Monday, denying fans an eagerly awaited first-time showdown with former Davis Cup teammate and doubles partner Bernard Tomic.
  • The ACCC has added another million cars to the airbag recall list bringing the total number of cars recalled nationally to 4 million. The ACCC have added the Audi A5, Mercedes-Benz C-Class, Koda Octavia, Ford Mondeo, Volkswagen Golf, Holden Cruze and Toyota Yaris, among other models, to a new "future recall" list. The ACCC has also revealed about 25,000 of the most-dangerous older Takata airbags known as "alpha bags" are still on the road. The airbags' inflators contain a defective gas and have the potential to explode and spray metal shrapnel into drivers and passengers.
  • Corporate watchdog ASIC wants extra money from the Federal Government to embed its own staff in the nation's big banks to tackle misconduct and restore the public's faith in the sector. ASIC now wants to embed specialist supervisors inside some of Australia's largest financial institutions to ensure they are complying with rules and regulations and doing the hard work to change the attitudes and culture within their organisations.

Published on: Monday, May 28, 2018

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