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5 things you need to know today

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Published on: Friday, July 13, 2018

  • US President Donald Trump and wife Melania have been greeted in England by crowds of protesters gathered in multiple locations across the country. Trump is on his first working visit to the country and will meet Prime Minister Theresa May and Queen Elizabeth II during his trip.
  • Australia's yearly intake of permanent migrants has fallen to its lowest level since 2007, new data reveals. Despite the cap remaining at 190,000, in the last financial year the actual intake fell to 163,000. The latest figures for the 2017-18 financial year, which ended on July 1, show the skilled stream fell by 12,468 to just 111,099 this year.
  • A2 Milk posted a 68% increase in sales in 2018 to around ($A846 million). Despite this, shares in the company eased by around 3% to close the last session at $10.50. A2 says it will expect further revenue growth as it expands into the US.
  • Australia's superannuation industry has extracted more than AU$700 billion for two decades in fees above what typical super funds charge overseas, according to a new analysis. That's equivalent to almost 40% of the nation's annual GDP.
  • Major US indices rose overnight, with tech stocks lifting the Nasdaq Composite index to a record high. The Dow Jones lifted 0.9% at 24,925, the S&P 500 rose 0.9% at 2,798 and the Nasdaq jumped 1.4% to 7,824. Meanwhile in Europe, the FTSE rose 0.8% to 7,651 and the DAX +0.6pc at 12,493.

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