British Prime Minister Theresa May. Picture: AFP/PRU
British Prime Minister Theresa May. Picture: AFP/PRU

May talks up Brexit future

THE Australian share market is expected to open flat after Wall Street only managed to eke out small gains on Friday. On Monday morning, the Australian share price futures index was up four points, or 0.07 per cent, at 6,100 points.

Meanwhile, the Australian dollar is slightly higher as the US dollar falls as traders sell the currency to lock in profits following the greenback's recent rally. At 0700 AEST, the local currency was worth 75.45 US cents, from 75.38 US cents on Friday.

WORLD FINANCE UPDATE:

WASHINGTON - American, Canadian and Mexican officials have ended a week of talks without a deal to modernise NAFTA, agreeing instead to resume negotiations soon.

LONDON - British Prime Minister Theresa May says she could be trusted to deliver Brexit, but that it could not be done without compromises on all sides - a possible warning to cabinet ministers who are deeply split over future customs arrangements.

BERKELEY - A robotics company known for its widely shared videos of nimble, legged robots opening doors or walking through rough terrain is preparing to sell some after more than a quarter-century of research.

NEW YORK - Twenty-two world records have been set at a Christie's auction, including the $US832 million ($A1.1bn) total for the priciest private collection of artworks and other treasures, owned by Peggy and David Rockefeller.

FRIDAY HIGHLIGHTS:

GRAINCORP - The big dry in Queensland and northern NSW has slashed GrainCorp's harvest and shrivelled its half year profit by almost two thirds.

HOUSING FINANCE - Housing finance commitments fell sharply across Australia last month with lending to investors hitting fresh lows and driving declines around the country.

NEWS CORP - Media mogul Rupert Murdoch's News Corp has posted a third-quarter net loss of $US1.1 billion ($A1.46 billion), mainly due to its revaluing of Foxtel and Fox Sports Australia.

CALTEX - Service station group Caltex says it has made $172 million in first-quarter profit after tax, up from $161 million in the same period a year ago.

RIO TINTO - Rio Tinto, Apple and aluminium giant Alcoa say they have developed a new aluminium smelting process that reduces carbon emissions.

SEVEN WEST WA - Seven West Media's Western Australia CEO, John Driscoll, has stepped down after deciding against taking on an expanded role for family reasons.

ORORA - Paper and packaging company Orora has maintained its view that it expects higher earnings for 2018, subject to global economic conditions.


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