Exxon CEO tipped to be US Sec of State

Exxon CEO tipped to be US Sec of State

US President-elect Donald Trump is expected to name the chief executive of Exxon Mobil Corp as the country's top diplomat, a source familiar with the situation says. The appointment of Rex Tillerson as US Secretary of State would put in place an official with close ties to the Russian government. News of Tillerson's possible appointment comes as US intelligence analysts have concluded that Russi…

  • Cormann rejects talk of recession AAP - 1 hour 9 minutes ago
    Cormann rejects talk of recession

    Finance Minister Mathias Cormann has rejected the suggestion the Australian economy could be in recession and won't be pursuing stimulus spending in the upcoming mid-year budget review. Figures last week ...

  • Nervousness as US interest rate hike looms AAP - 1 hour 12 minutes ago
    Nervousness as US interest rate hike looms

    The US Federal Reserve is poised to raise interest rates this week but the Australian share market's ongoing rally could relax in anticipation of the board's accompanying comments. Australian investors will find out on Thursday morning whether the US Federal Reserve will raise rates for the first time in 12 months, which AMP Capital's chief economist Shane Oliver said is 100 per cent priced in. In the run-up to the meeting there may be a bit of nervousness because the market has been used to low interest rates for so long, he said.

  • Oil producers agree to cut oil output AAP - 1 hour 20 minutes ago
    Oil producers agree to cut oil output

    Eleven non-OPEC producers have agreed at a summit in Vienna to reduce oil output by 558,000 barrels per day, pushing the total production cut by OPEC and non-OPEC members to 1.7 million bpd of crude. Thirteen OPEC members had agreed on November 30 to slash production by 1.2 million bpd. The production cut coming out of this weekend's summit between OPEC and non-OPEC members fell just short of the 600,000 bpd reduction that the cartel's leaders were hoping to achieve.

  • Vic govt vows to build missing road link AAP - 1 hour 22 minutes ago

    The so-called "missing link" would complete the Metropolitan Ring Road by connecting the ring road to either the Eastern Freeway or EastLink. "When we build the missing link that completes the ring road you'll be able to drive from Ringwood to Tullamarine without stopping at a single traffic light," Premier Daniel Andrews said in a statement on Sunday. It would be funded by a mixture of government contributions and tolls.

  • No recession, no stimulus spend: Cormann AAP - 1 hour 33 minutes ago

    Finance Minister Mathias Cormann won't be pursuing stimulus spending in the upcoming mid-year budget review even after recent figures showed the economy put in its worst performance in more than five years. While conceding the national accounts showing the economy shrank by 0.5 per cent in the September quarter was not a good result, he is not anticipating the December quarter will show a consecutive negative outcome, which would constitute a technical recession. Neither does he believe it is sensible to pursue "so-called stimulus spending", an approach Labor took and a course of action he says damaged the economy.

  • Greece passes austerity 2017 budget AAP - 2 hours 12 minutes ago
    Greece passes austerity 2017 budget

    Greece's Parliament has passed a budget of continued austerity as mandated by the country's creditors, but which forecasts robust growth for 2017. Prime Minister Alexis Tsipras says it will mark Greece's "final exit" from its nearly decade-long financial crisis. The budget adds more than 1 billion euros in new taxes, mostly indirect taxes on items from phone calls to alcohol.

  • Kingsgate banks Thai law will save mine AAP - 2 hours 29 minutes ago

    Australian executives Kingsgate Consolidated Ltd are hoping a new Thai mining bill passed by parliament will save its mining operations from closure at the end of the year. Kingsgate's Thai offshoot, Akara Resources' mine in Chatree, 280km north of Bangkok, faces a December 31 shutdown after a May 10 order by the Thai cabinet for all gold mining operations in Thailand to cease. Kingsgate chairman Ross Smyth-Kirk says executives, have been lobbying for months to salvage the mine from closure, but so far have not been formally notified of the new legislation.

  • AA Gill dies after brief cancer battle AAP - 2 hours 51 minutes ago
    AA Gill dies after brief cancer battle

    Restaurant critic AA Gill, described as "a giant among journalists", has died after a short battle with cancer. Announcing the death in a memo to staff, editor Martin Ivens said: "It is with profound sadness that I must tell you that our much-loved colleague Adrian Gill died this morning. "Adrian was stoical about his illness, but the suddenness of his death has shocked us all.

  • Not locking in surplus timetable: Cormann AAP - 4 hours ago

    Finance Minister Mathias Cormann says the Turnbull government will get the budget back to surplus as soon as possible but won't lock itself into an artificial deadline. "We need to make decisions ...

  • Russia helped Trump win: US report AAP - 5 hours ago
    Russia helped Trump win: US report

    US intelligence analysts have concluded that Russia intervened in the presidential election to help Donald Trump win the White House, and not just to undermine confidence in the US electoral system, a senior US official says. US intelligence agencies have assessed that as the 2016 presidential campaign progressed, Russian government officials devoted increasing attention to assisting Trump's effort to win the election, the US official familiar with the finding told Reuters on Friday night, speaking on condition of anonymity. The president-elect's transition office released a statement that exaggerated his margin of victory and attacked the US intelligence community that Trump will soon command, but did not address the analysts' conclusion.

  • Four killed in Bulgarian train explosion AAP - 13 hours ago
    Four killed in Bulgarian train explosion

    Four people have been killed, 25 are injured and at least 20 buildings have been demolished after a cargo train derailed and exploded in northeastern Bulgaria. There are many people injured ... many with burns," Interior Ministry Chief Secretary Georgi Kostov said. Bulgarian Prime Minister Boiko Borisov was travelling to the village, 280 km northeast of Sofia and home to about 800 people.

  • Murdoch Sky bid 'should be investigated' AAP - 13 hours ago
    Murdoch Sky bid 'should be investigated'

    Vince Cable, who was Britain's business secretary at the time of Murdoch's first bid in 2010-11 has told BBC radio the media tycoon's new takeover attempt would not be in the public interest. On Friday Murdoch's Twenty-First Century Fox said it had struck a preliminary deal to buy the 61 per cent of Sky it does not already own for about $US14 billion ($A19 billion).

  • Actor Judge Reinhold released from jail AAP - 23 hours ago
    Actor Judge Reinhold released from jail

    Actor Judge Reinhold has been released from a Dallas jail following his arrest for causing a disturbance at a local airport after refusing to be screened at a security checkpoint, police say. Reinhold was taken into custody on Thursday afternoon at Dallas Love Field airport, the city police department said in a statement. A spokeswoman from the Dallas Police Department on Friday confirmed Reinhold's release from a local detention facility.

  • Trump names Australian Liveris to post AAP - 23 hours ago
    Trump names Australian Liveris to post

    US president-elect Donald Trump says he will name Andrew Liveris - chairman and chief executive of Dow Chemical Co - to head the Manufacturing Council, a private sector group that advises the US secretary of commerce. Trump made the announcement during a rally in Grand Rapids, Michigan, where he introduced Liveris, 62, a dual US-Australian citizen who said he had accepted the appointment. The panel to promote US manufacturing will be "tasked with finding ways to bring industry back to America," Trump said.

  • Ford small car US plans won't change: CEO AAP - Sat, Dec 10, 2016 1:59 PM NZDT
    Ford small car US plans won't change: CEO

    Ford Motor Co is going ahead with plans to move small-car production from the United States to Mexico despite recent threats from president-elect Donald Trump. CEO Mark Fields says Ford's plan to move production of the Focus from Michigan to Mexico will proceed, in part because US consumers demand low prices for small cars. In a series of tweets on Sunday, Trump reiterated a threat to impose a 35-per-cent tariff on companies that build new plants abroad and sell products back to the US.

New Zealand Markets

Company Finances

  • Subway: Review finds 'serious' complaint about Jared Fogle Associated Press - Sun, Sep 13, 2015 1:30 AM NZST
    Subway: Review finds 'serious' complaint about Jared Fogle

    The Subway restaurant chain said it received a "serious" complaint about Jared Fogle when he was the company's spokesman but that the complaint did not imply any criminal sexual activity. The ...

  • Holden keeps 100 design jobs in Australia AAP - Sun, Sep 13, 2015 1:06 AM NZST
    Holden keeps 100 design jobs in Australia

    Holden will keep more than 100 design jobs and add 18 new positions after manufacturing ends in Australia in 2017. The powertrain engineering and development team will stay in Australia after General Motors reversed a decision to send the jobs overseas. "More than 100 additional Holden engineering staff will continue to apply their skills and talents to local and global vehicle programs," managing director Mark Bernhard said on Saturday.

  • Fiat Chrysler recalls 1.7M trucks for air bag, weld troubles Associated Press - Fri, Sep 11, 2015 6:18 AM NZST
    Fiat Chrysler recalls 1.7M trucks for air bag, weld troubles

    Fiat Chrysler is recalling more than 1.7 million trucks to fix problems with air bags and welds in the steering system. The biggest of three recalls announced Thursday covers 1.35 million Ram 1500, 2500 ...

  • McDonald's to switch to cage-free eggs over next decade Associated Press - Thu, Sep 10, 2015 9:12 AM NZST
    McDonald's to switch to cage-free eggs over next decade

    McDonald's says it will switch to cage-free eggs in the U.S. and Canada over the next decade, marking the latest push under CEO Steve Easterbrook to try and reinvent the Big Mac maker as a "modern, ...

  • Survey shows big gaps in knowledge about auto safety tech Associated Press - Wed, Sep 9, 2015 9:24 AM NZST
    Survey shows big gaps in knowledge about auto safety tech

    Adaptive cruise control has been an option on some cars for almost a decade. But in a recent national survey, 65 percent of U.S. drivers didn't know what it was. The survey, by the University of Iowa Public ...

  • Toyota invests $71m in driverless cars AAP - Sat, Sep 5, 2015 8:10 PM NZST
    Toyota invests $71m in driverless cars

    Toyota is investing $US50 million ($A71 million) with Stanford University and the Massachusetts Institute of Technology in the hope of gaining an edge in an accelerating race to phase out human drivers. The financial commitment announced on Friday by the Japanese carmaker will be made over the next five years at joint research centres located in Silicon Valley and another technology hub in Cambridge, Massachusetts. Toyota has hired robotics expert Gill Pratt to oversee research aimed at developing artificial intelligence and other innovations that will enable future car models to navigate the roads without people doing all the steering and stopping.

  • Harley riders rumble into Milwaukee for rally, bike show Associated Press - Sat, Sep 5, 2015 12:06 PM NZST
    Harley riders rumble into Milwaukee for rally, bike show

    Gearheads converged on the Harley-Davidson Museum on Friday to show off, talk shop and get started on a weekend motorcycle rally and custom bike show. Tents outside the museum featured T-shirts, trinkets ...

  • Toyota to invest $50M in car-tech research at Stanford, MIT Associated Press - Sat, Sep 5, 2015 7:36 AM NZST
    Toyota to invest $50M in car-tech research at Stanford, MIT

    Toyota is investing $50 million with Stanford University and the Massachusetts Institute of Technology in hopes of gaining an edge in an accelerating race to phase out human drivers. The financial commitment ...

  • From eggs to trees, USDA promotional programs controversial Associated Press - Sat, Sep 5, 2015 6:37 AM NZST
    From eggs to trees, USDA promotional programs controversial

    The slogans are familiar: "The Incredible Edible Egg," ''Pork: The Other White Meat," and "Got Milk?" They've all been part of promotional campaigns overseen by the Agriculture ...

  • Recalls this week: windshield deicer, bicycles Associated Press - Sat, Sep 5, 2015 5:00 AM NZST
    Recalls this week: windshield deicer, bicycles

    More than 4 million bottles of windshield deicer and frost reducer are being recalled because the trigger assembly can be removed by children, posing a risk of poisoning. Other recalled consumer products ...