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5 things you need to know today

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Published on: Thursday, May 02, 2019

1. NAB has cut its interim dividend by 16% from 99 cents to 83 cents, citing a "more difficult operating envioronment".

2. The US Federal Reserve has kept interest rates on hold after announcing earlier this year that it does not expect to cut rates for the remainder of 2019. "We don’t see a strong case for moving in either direction," Fed Chairman Jerome Powell said.

3. A trade deal between the US and China may be announced soon, with sources telling CNBC an announcement is "possible" by next Friday. The latest meetings between US and Chinese officials in Beijing concluded yesterday, while Chinese Vice-Premier Liu He will head to Washington next week.

4. British Prime Minister Theresa May has sacked her Defence Secratary Gavin Williamson after he was accused of leaking information from a National Security Meeting about giving Huawei access to the UK's 5G network. 

5. Wall Street stocks were down following the Fed's announcement. The Dow Jones declined 0.61% to 26,430.14, the S&P 500 dropped 0.75% to 2,923.73 and the Nasdaq was down 0.57% to 8,049.64.


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