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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…

Volkswagen reports record global car sales in 2017

Volkswagen said Sunday that its namesake brand sold more vehicles worldwide in 2017 than ever before, a sign it is recovering from a bruising emissions-cheating scandal three years ago.‘We finished 2017 with the best performance ever for Volkswagen,’ Herbert Diess, chairman of the board of management of the Volkswagen passenger cars brand, said Sunday night…

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…

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…

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…

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…

Good signs for week ahead in Aust markets

Record gains overseas and a strong futures index are pointing to a good start for the Australian markets in the week ahead. The futures market is indicating a gain of 31 points or half a per cent when Australian trading opens this week – a prediction CommSec chief economist Craig James believes is reasonable. ‘We…

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…

Vic gas reserves ‘not commercially viable’

Victoria has no commercially viable onshore conventional gas reserves, a new report shows. The report on gas reserves and development estimates Victoria holds 110 petajoules of onshore conventional gas and 10,738 petajoules offshore. “In onshore Victoria, there are no proved and probable reserves,” said the Victorian Gas Progress Report, released on Friday. “The state does…