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Trump pushes back over Trump N. Korea quote

US President Donald Trump pushed back at a report that he had suggested he had a good relationship with North Korean leader Kim Jong-Un, saying he had been misquoted.The Wall Street Journal quoted Trump as saying in an interview Thursday: ‘I probably have a very good relationship with Kim Jong-Un.’But the White House insisted he…

IG Research – The long and the short of it

The big consensus trade of being short USDs into 2018 and long European and US financials continues to work in earnest and this remains the key focal point in the week ahead. Perhaps, given the magnitude of the moves in Friday’s session have some questioning if the selling in the USD was actually a capitulation…

Ford increases investment in electrification to $11 bn

Ford will increase its investment in electrification, planning to spend $11 billion by 2022 to create hybrid and all-electric versions of its vehicles, the company announced Sunday at the Detroit Auto Show.Ford executive James Farley said the increased expenditure essentially doubles and extends Ford’s previous $4.5 billion investment in electrification until 2020.The American car giant…

Asia News Agenda Monday

ASIA NEWS AGENDA ON MONDAY+ Koreas due to hold talks on Olympic art troupe+ Israel’s Netanyahu meets India PM, president+ Australian Open tennis Grand Slam beginsSOUTH KOREA– The two Koreas are due to hold talks in the truce village of Panmunjom to discuss the North’s plan to send a performing art troupe to the Pyeongchang…

Petrol up 10% over December quarter

Petrol lifts 10 per cent over the past quarterWeekly petrol pricesPetrol: According to the Australian Institute of Petroleum, the national average Australian price of unleaded petrol rose by 0.9 cents last week to 137.6 cents a litre. Inflation boost: Petrol rose by 10 per cent in the December quarter and this will add around 0.35 percentage…

Wall St higher on earnings optimism

Wall Street continued its rally on Friday with record closing highs as the fourth-quarter earnings season kicked off with solid results from banks and robust retail sales drove investor optimism about economic growth. The S&P 500 and Nasdaq both registered their eighth record closing highs out of the first nine trading days of 2018, while…

Qld swelters are mercury soars past 40C

Queenslanders have sweltered through record-breaking temperatures over the weekend as the mercury reached more than 40C in some parts of the state. Brisbane fell just short of its predicted top of 38C, reaching 37.5C on Sunday afternoon before a cool change was expected to sweep through the city. Bureau of Meteorology forecaster Lauren Murphy said…

Minister defends mobile blackspot fix

Regional Communications Minister Bridget McKenzie has defended the federal government’s national program to fix mobile phone black spots following a Victorian exit. The Victorian state Labor government has announced it will go it alone in building mobile phone towers in regional areas after dumping the commonwealth’s program. The state government blamed the decision on the…

Bishop weighs in on China aid row

Foreign Minister Julie Bishop has gone into damage control over a diplomatic row concerning China’s aid to Pacific Island nations. International Development Minister Concetta Fierravanti-Wells criticised China’s assistance to tiny Pacific island nations for building ‘white elephant’ projects and ‘roads to nowhere’. She also expressed concerns about the sustainability of China’s loan arrangements with the…

Aust shares give up gains, close flat

The Australian share market has fallen away again at the end to close flat, as strong gains by miners and some energy companies offset losses among financial, property and consumer stocks. The benchmark S&P/ASX200 index rose 0.04 per cent to close at 6,070.1 points on Friday, as gains in the energy, health and materials sectors…