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North Korea's soft focus: Kim Jung un stresses economy, not nukes, on 70th anniversary - Dotemirates

North Korea's soft focus: Kim Jung un stresses economy, not nukes, on 70th anniversary

Close Kim Jong Un Wants To Denuclearize Before Trump's First Term Ends Reuters PYONGYANG, North Korea — North Korea held a major military parade and revived its iconic mass games to celebrate its 70th anniversary on Sunday, but in keeping with leader Kim Jong Un's new policies the emphasis was firmly on building up the economy, not on nuclear weapons.The North rolled out some of its latest tanks and marched its best-trained goose-stepping units in the parade but held back its most advanced missiles and devoted nearly half of the event to civilian efforts to build the domestic economy.It also...


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Business News

2 hour 39 minute

Treasury moves to protect multimillionaires’ tax-free gifts to heirs

WASHINGTON — Multimillionaires would get more flexibility to make tax-free gifts to their heirs under a Trump administration proposal released late Tuesday. Under the regulation, people would have an easier time taking advantage of the temporary increase in the gift- and estate-tax exclusion that Congress passed last year. Before Tuesday’s proposal, some tax lawyers worried that making significant tax-free gifts now could cause an estate-tax bill for some people dying after the changes expire at the end of 2025. Once the regulation becomes final, it’s likely to spur a wave of wealth transfers from people worth more than $5 million...
2 hour 49 minute

Banking royal commission continues interrogation of big bank CEOs and chairs

By business reporter Stephanie Chalmers The banking royal commission has heard a slew of problems did not lead to Commonwealth Bank executives losing short-term incentive payments, and then-CEO Ian Narev received a $2.86 million bonus amid the scandals.CBA chair Catherine Livingstone is facing tough questioning about the bank board's failures.The final round of hearings continues in Sydney, with CBA in the spotlight for a third day and Westpac expected to follow.Follow the blog for live coverage throughout the day.
2 hour 56 minute

Coles debuts with $18b market value; Australian shares tumble after global sell-off

By business reporter David Chau A wave of panic-selling across Wall Street, European and Asian markets has spread to Australia.At 12:25pm (AEDT), theAll Ordinaries index moderated some of its losses to trade 1 per cent lower at 5,703.The benchmark ASX 200 also fell by a similar level to 5,622.Meanwhile, the Australian dollar slipped to 72.14 US cents.Coles debuts on the ASXSupermarket chain Coles started its first day of trade on the share market at $12.49 per share, which beat analysts' expectations.It had since risen to $13.27 at 12:25pm (AEDT), taking Coles's market value above $18 billion.Meanwhile, shares in former parent...

2 hour 57 minute

Melbourne Airport rail link to go via Sunshine after getting approval from Canberra

The Sunshine train station in Melbourne's west will become like "another Southern Cross station", with the Federal Government ticking off on the proposed route for the long-awaited rail link to Melbourne Airport.The new service could be up and running within nine years under plans unveiled by AirRail Melbourne, a private consortium that includes Melbourne Airport and Metro Trains.The project would be built in six or seven years, starting in late 2020 and opening a year after Melbourne Metro opens in 2027.Public Transport Minister Jacinta Allan said the State Government had been doing a lot of work with the Federal Government...
3 hour 4 minute

Trump submits written answers to Mueller’s questions

WASHINGTON — Lawyers for President Donald Trump said they have submitted written responses to questions posed by special counsel Robert Mueller about possible collusion with Russia during the 2016 presidential election. Jay Sekulow, a lawyer for the president, said the questions were on “Russia-related topics” of the Mueller investigation. Rudy Giuliani, another lawyer for Trump, in a statement called for the probe to end. “It has been our position from the outset that much of what has been asked raised serious constitutional issues and was beyond the scope of a legitimate inquiry,” Giuliani said. “This remains our position today. The...
3 hour 8 minute

Saudi Arabia reportedly tortured women’s-rights activists as part of effort to squelch dissent

Saudi security officers have tortured jailed women’s-rights activists as part of a government campaign to squelch criticism of Crown Prince Mohammed bin Salman that began before last month’s killing of dissident journalist Jamal Khashoggi, according to people familiar with the situation. At least eight of the 18 women’s-rights activists detained by Saudi authorities this year have been tortured, including at least four who were subjected to electric shocks and lashings, according to two advisers to the Saudi royal family, activists and others with knowledge of the prisoners’ treatment. Read: Trump vows to remain partners with Saudis despite Khashoggi’s killing Asked...