Morning Minutes: What will make headlines, Dec 6, 2016

Nine South Korean business heads, including Samsung group scion Lee Jae Yong (above), will face a probe today (Dec 6) over a corruption scandal.
Nine South Korean business heads, including Samsung group scion Lee Jae Yong (above), will face a probe today (Dec 6) over a corruption scandal.PHOTO: BLOOMBERG

Good morning! Morning Minutes is a round-up of stories that will break on Tuesday (Dec 6) and which we think you'd be interested in.

It appears on weekdays, available by 7am.

Korean business heads to be probed over corruption scandal

Nine chaebol (family-owned business conglomerate) heads, including Samsung group scion Lee Jae Yong and Hyundai chairman Chung Mong Koo, will be grilled today (Dec 6) by lawmakers over a corruption scandal that has implicated President Park Geun Hye.

The billionaires will be questioned about tens of millions of dollars given to foundations controlled by Ms Park’s friend, Choi Soon Sil, in what could be the first investigation into a sitting president.

Australia's reserve bank expected to keep low rates


A man is reflected on a wall underneath the Reserve Bank of Australia sign in Sydney. PHOTO: AFP

The Reserve Bank of Australia, which holds its monthly policy review today (Dec 6), is considered almost certain to keep rates at a record low of 1.5 per cent. The central bank has kept rates steady since cutting them to an all-time low back in August, partly because it fears fuelling a debt-driven bubble in home prices. Analysts say the RBA is more concerned about low inflation than business spending.

Philippine inflation figures out today


A bird's eye view of two buildings under construction in Manila, Philippines. PHOTO: AFP

Philippine inflation is forecast to have eased slightly in November due to declines in transport and utility costs, backing expectations interest rates would remain steady when the central bank meets for the last time this year in just over two weeks.

Analysts forecast the consumer price index to have risen 2.2 per cent in November from a year earlier, compared with the previous month’s annual pace of 2.3 per cent. Inflation averaged 1.6 per cent in the 10-months to October, below the central bank’s 2-4 per cent target for this year and next.