Former NAB financial adviser banned after 'withdrawing $1.9m in client funds'

• 57 mins ago

The former adviser has been banned from practising after allegedly withdrawing more than $1.95 million from clients.

ASX winners and losers - a snapshot

The stand out listings traded on the ASX captured at key moments through the day, as indicated by the time stamp in the video.

'Burning the midnight oil': Tesla goes 24/7 as it ramps up its Model 3 production

Tesla will begin around-the-clock production at its assembly plant to boost Model 3 output.

'An unusual form of trust, isn't it?': Hayne

Commissioner Kenneth Hayne is incredulous in querying a condition of AMP's holding of assets on trust for beneficiaries, as Treasurer Scott Morrison asserts some of the group's behaviour could result in "jail time".

AMP denies it 'traps' investors in poorly performing funds

The royal commission also hears that AMP charges companies that want their funds on AMP’s investment platforms a $25,000 a month administration fee.

Markets Live: Harvey Norman sparkles

• Live

The ASX is tracking higher today, with miners and energy stocks leading the advance and Harvey Norman jumping after an upgrade at JPMorgan.

Morrison warns AMP's behaviour can be punished by 'jail time'

Treasurer Scott Morrison says revelations that AMP lied to the corporate regulator are "deeply disturbing," warning that such behaviour can lead to jail time.

Woodside plans to supercharge Scarborough LNG

Woodside has announced it will ramp up the development of Scarborough gas after it took control of the LNG project.

Rio Tinto lifts iron ore production

Miner Rio Tinto has revealed a significant jump in iron ore production in the March quarter,

'An extraordinary event': while rare, safety experts say loose aircraft debris is always a risk

It'ss hard to guarantee a plane's safety when 'shrapnel starts flying', says aviation safety expert.

Fifty religious leaders say no to Adani Carmichael mine

Christian ministers, rabbis, nuns, ordained Buddhists and imams from across Australia have written a letter that will be hand-delivered to Adani's Townsville headquarters.

Starbucks to close 8,000 US stores for racial-bias training

Starbucks will close 8,000 company-owned US cafes for the afternoon on May 29 to train nearly 175,000 workers on how to prevent racial discrimination in its stores.

8@eight: Markets jump as jitters ease

• Sponsored

Here's what happened overnight and what's ahead for the ASX.

China gets poetic after Trump's latest currency attack

China has said that information coming out of US regarding the Chinese currency is "a bit chaotic". It comes after President Trump accused China and Russia in a Twitter post of devaluing their currencies.

France's Macron: EU is a haven from world dangers

The French President has urged Europeans to defend their model of liberal democracy in the face of rising autocratic regimes around the world. In an address to the EU Parliament in Strasbourg, Emmanuel Macron also said France was ready to increase its contribution to the EU budget, on condition that it becomes more efficient.

Ivanka Trump's brand to target shoppers directly

A year after being dumped by Nordstrom and other retailers, Ivanka Trump's brand is taking a fresh approach.

Starbucks to close 8,000 stores for anti-racism training

Starbucks has moved swiftly to confront a racially charged uproar over the arrest of two black men at one of its stores in Philadelphia.

Julie Bishop asks the UK to divert more aid to the Pacific after Brexit

Australia has cut its aid to a fraction of what the UK donates but now it wants its ally to devote more to the Pacific.

Reluctant Americans are behind Qantas' quest to develop a cargo class

• EXCLUSIVE

The unconventional idea is aimed at getting middle-class Americans to shake off their reluctance to fly long-haul across the Pacific.

Scape wins case over tall 'bland' tower

A Carlton building described by Victoria’s planning minister as “too tall and bland” gets a development permit.

Debts mounted as Gerry Harvey's dairy empire went bust

• OPINION

Harvey Norman is claiming $36.7 million as a creditor of the failed dairy venture - more than the $35.7 million being claimed by Coomboona’s banker, NAB.

'Just appalling': AMP misconduct and lies exposed

Shocking revelations of dishonesty and misconduct at the banking royal commission have sparked calls for tighter regulation.

There are more jobs, but 730,000 people are still out of work

• OPINION

Why have politicians and the media stopped talking about unemployment?

AMP grilled over 'independent' review of advice scandal

Senior members of AMP repeatedly intervened in an "independent" report into its fee for no service scandal, the royal commission heard.

Redfern Google HQ plans rejected by state government

Google is still searching for its Australian headquarters after the NSW government rejected plans for a tech hub in Redfern.

Jamie's Italian workers told to wait for two weeks' wages

Celebrity chef Jamie Oliver's company had found an operator to run its chain of restaurants in Australia before it called in administrators.

City fringe office markets shine

Two buildings have changed hands for a combined $175.5 million.

Stinking AMP reveals our soft line on corporate dishonesty

• OPINION

The cynical behaviour on show at the royal commission underlines the need for changes to enforcement.

AMP in strife following Royal Commission admissions

• ANALYSIS

Monday's revelations by AMP before the Royal Commission are likely to have lasting ramifications for the company and its shareholders