Business News

5 things you need to know today

  • AMP chairwoman Catherine Brenner has resigned following damning evidence at the banking royal commission of misconduct by the company's staff. In a statement, the financial services company said directors will take a 25% pay cut for the remainder of 2018 as a result of the issues raised at the commission. Mike Wilkins has been appointed as executive chair of the financial services company, effective immediately.

  • Malcolm Turnbull will push for a radical overhaul of the Australian curriculum after endorsing a blueprint by businessman David Gonski to fix the country's lagging school system. The Gonski 2.0 plan will transform the school system to assess and reward personal progress, not just standard academic benchmarks. It challenges the Commonwealth, states and territories to ditch their "industrial model of schooling" in favour of a more modern and individual approach.

  • Brazilian surfer Rodrigo Koxa has claimed the major prize at the Big Wave Awards in California, winning the biggest wave award for the largest wave ever surfed. Koxa achieved the feat in Nazare, Portugal, on November 8, 2017, as he broke the world record for riding a wave 24.28 metres, overtaking the previous record of 23.77 metres set by Garrett McNamara in 2011.

  • US Secretary of State Mike Pompeo says he told Kim Jong-un that North Korea would have to agree to take "irreversible" steps toward shutting their nuclear weapons program in any deal with US President Donald Trump.
  • Some of the most prominent White House reporters in Washington are considering abandoning their annual correspondents' dinner after a contentious address by comedian Michelle Wolf left the room stunned. The White House Correspondents' Association dinner, famous for its gentle roasting of the president of the day, once attracted Oscar winners, sports stars and high-profile business people.

Published on: Monday, April 30, 2018

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