Gauge of US economy posts slight 0.2% gain

AN index designed to predict the future health of the US economy rose in January by the smallest amount in five months, indicating the economy's momentum may have slowed a bit.

THE New York-based Conference Board says its index of leading indicators increased 0.2 per cent in January, the weakest gain since a 0.1 per cent rise in August. In addition, the December increase was revised lower to a 0.4 per cent rise instead of the initially reported 0.5 per cent increase.

Conference Board economists say that the lack of strong momentum in residential construction and a weak outlook for new orders in manufacturing pose some downside risks for the economy.

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Be respectful in representations: Bali duo

The Bali Nine pair are enjoying extra time with their families after their executions were delayed. Source: AAP

ANDREW Chan and Myuran Sukumaran have asked that any representations to save them from execution are made firmly, but with respect.

MELBOURNE barrister Michael O'Connell SC visited the condemned Australians in Kerobokan jail on Thursday, where he said they were remarkably well under the circumstances, but concerned that representations were "firm but respectful".

"I think Andrew and Myuran are very concerned that people remain respectful when they make representations on their behalf," Mr O'Connell said."But of course they want those representations to be firmly made."The pair's concerns follow a sharp reaction from Jakarta to Prime Minister Tony Abbott linking the men's fate to Australia's donation of $1 billion in aid following the 2004 Boxing Day tsunami.Mr Abbott had said Indonesia should "reciprocate in this way at this time".Indonesia's foreign affairs ministry spokesman, Arrmanatha Nasir, hit back, saying "no one responds well to threats".Mr Abbott on Thursday said he had only meant to recall the long-running friendship of the two nations.Chan and Sukumaran are enjoying a few days' reprieve from the firing squad after Indonesia was caught unprepared for the executions and delayed moving them from their Bali jail cells.Mr O'Connell says the Bali Nine drug smugglers have also been briefed on arrangements for Tuesday's administrative court challenge.A panel of judges will question their lawyers on their argument that President Joko Widodo did not properly examine their requests for clemency before rejecting them.There are reports Mr Joko did not have documentation before him that outlined the men's rehabilitation before he denied them mercy.Mr O'Connell said his clients' case was strong regardless.Mr Joko has already proclaimed publicly that he will reject clemency in all death row drug cases, he said."The public position taken by the Indonesian government and particularly the president ... demonstrates there was not a genuine and realistic consideration of the clemency application that had been made," he said.Indonesia has not announced a new schedule for the men's move from Kerobokan prison, or their execution date.But planning goes on regardless, with more meetings to discuss security arrangements for the Australians' transfer to Nusakambangan island scheduled for Friday.Almost 2500 people were in Melbourne's Federation Square on Wednesday night when a letter from Sukumaran was read."Whatever happens, I know that me and Andrew are good people now, and even though we have been in prison with a death sentence, we have been truly blessed," he wrote.Mr O'Connell said both men were grateful for the public's support."They're humbled really by the depth of support that has been coming from Australia and to some extent in Indonesia as well," he said."They are very grateful for it and they simply wait and hope."

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Applications for US unemployment aid dive

THE number of Americans seeking unemployment benefits fell sharply last week, a sign that a recent string of strong job gains may continue.

THE US Labor Department says weekly applications for unemployment aid dropped 21,000 last week to a seasonally adjusted 283,000. The four-week average of applications, a less volatile number, fell 6500 to 289,750, its lowest level in 15 weeks.

Applications are a proxy for layoffs. They have been near or below 300,000 since September, a very low reading by historical standards that points to solid hiring. The average has dropped 16 per cent in the past year.That decline has coincided with much stronger job gains. Employers added more than 1 million jobs from November through January, the strongest three-month pace in 17 years.

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Wal-Mart beats 4Q profit forecasts

WAL-MART Stores Inc. has reported fiscal fourth-quarter earnings of $US4.97 billion ($A6.36 billion).

ON a per-share basis, the Bentonville, Arkansas-based company said it had net income of $US1.53. Earnings, adjusted for non-recurring costs, were $US1.61 per share.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $US1.54 per share.The world's largest retailer posted revenue of $US131.57 billion in the period, missing Street forecasts. Analysts expected $US132.32 billion, according to Zacks.Wal-Mart expects full-year earnings to be $US4.70 to $US5.05 per share.Wal-Mart shares have climbed slightly since the beginning of the year, while the Standard & Poor's 500 index has increased 2 per cent. The stock has increased 14 per cent in the last 12 months.

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Freddie Mac posts $US227m profit in 4Q

MORTGAGE giant Freddie Mac has posted net income of $US227 million ($A290.36 million) for the fourth quarter.

THE government-controlled company's profit was down sharply from the same period of 2013, as it sustained losses on the investments it uses to hedge against swings in interest rates.

Nonetheless, the October-through-December results reported on Thursday marked Freddie's 13th straight profitable quarter.McLean, Virginia-based Freddie also said it will pay a dividend of $US900 million to the US Treasury next month. Freddie will have paid $US91.8 billion in dividends, exceeding its government bailout of $US71.3 billion.The government rescued Freddie and larger sibling Fannie Mae at the height of the financial crisis in September 2008.

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Plane isolated at Madrid airport for Ebola

SPANISH authorities have isolated an Air France plane at Madrid's airport and activated emergency health procedures after a passenger's reported fever and shivers was treated as a suspected Ebola case, officials say.

A SPANISH Airport Authority spokeswoman said the passenger jet had arrived in Madrid from Paris on Thursday.

She said the plane was taken to a special area of the airport and the passengers were being kept on board.A health ministry spokeswoman said they were treating it as a suspected case of Ebola.Both officials spoke on condition of anonymity in keeping with the regulations of their respective offices.The private Europa Press news agency said there were 183 passengers on the plane.

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US factory output rises 0.5% in September

US manufacturing output rose in September, led by gains for aerospace products, furniture, clothing and plastics.

THE Federal Reserve said on Thursday that factory production rose 0.5 per cent in September after falling 0.5 per cent in August. Over the past 12 months, manufacturing output has increased 3.7 per cent.

The continued pace of manufacturing output will likely be a bellwether for the broader economy.Job growth has been solid for much of 2014, yet the stock market has been hammered over the past week over concerns about Europe's financial footing, the slowdown in China's economy and Ebola outbreaks across three continents.Stalled growth - if not the risk of recession - in much of Europe could cut into demand for US exports.Total industrial production surged 1 per cent last month, as output from mines and utilities both increased.Despite the gains, autos appear to have downshifted after driving much of the output growth of the past year.Factory production of motor vehicles and parts slid 1.4 per cent in September, the second straight monthly decline after tumbling 7 per cent in August.Most economists expected a decline after auto production soared in July, largely because there were fewer plant shutdowns in July made output look stronger after the government adjusted the figure for normal seasonal variationsThat decline was more than offset by improvements in other sectors. Furniture output rose 2.4 per cent in September, while aerospace products climbed 1.7 per cent. Clothing increased 1.5 per cent, as plastics, rubber, chemicals and computer production also improved.

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US jobless aid claims fall to 14-year low

THE number of people seeking US unemployment aid dropped to the lowest level in 14 years last week, the latest signal that companies are cutting few workers and hiring could remain healthy.

THE Labour Department says weekly applications for unemployment aid fell 23,000 to a seasonally adjusted 264,000, the lowest level since April 2000.

Given that the US population has grown considerably since then, the proportion of the US workforce applying for benefits is even smaller. Applications are a proxy for layoffs.The figures come as concerns about slowing global economic growth have roiled financial markets for the past week. A drop in US retail sales, reported on Wednesday, intensified the volatility.The four-week average of applications, a less volatile measure, dropped 4250 to 283,500, the lowest level since June 2000.

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Travel for free around NZ as an intern

IF you do, you could be eligible for an internship which requires you to travel around New Zealand and convince Aussies to do the same.

Holiday operators Experience Oz + NZ have launched a competition for what it says is New Zealand's ultimate internship.The program includes 10 days of travel for four people through Queenstown, Milford Sound, Rotorua, Taupo, Waitomo, Matamata and Auckland.Accommodation, experiences, car hire and flights - valued at $NZ30,000 ($A27,929) - will be paid for, and in return interns have to share their trip through photos, social media and video."We are looking for four New Zealanders to showcase their backyard to their Aussie mates across the ditch," says business manager Michelle Woodroff.Some of the tasks interns must fulfil includes bungy jumping, sky diving, jet boating, visiting an active volcano, and going on a tour of The Hobbiton movie set.To apply, candidates must submit a visual resume with their best photos or videos of their favourite landmarks or experiences from their hometown.Applications close on October 27, with the winner announced in the first week of November so interns can start working and travelling during the semester break.

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NZ wins UN Security Council seat

NEW Zealand has won a seat on the United Nations Security Council.

THE UN's 193 member states voted by secret ballot early on Friday morning (AEDT and NZT), with New Zealand topping the vote ahead of competing nations in their group, Spain and Turkey.

Turkey and Spain will compete in a second ballot for the remaining spot.New Zealand secured 145 first round votes, compared to Spain's 121 and Turkey's 109.The nations needed a majority of 129 to claim the seat.The three other new non-permanent members elected at the UN's headquarters in New York, Malaysia, Venezuela and Angola, ran unopposed for their three regional seats.A seat on the Security Council gives nations a high-profile opportunity to weigh in on world issues and events, just as outgoing member Australia did with the downing of Malaysia Airlines Flight 17 over Ukraine and the formation of the coalition against the Islamic State group in Iraq and Syria.There are 15 seats on the Security Council, which is charged with responsibility for world peace and stability.There are five permanent members, the US, Britain, China, France and Russia.The 10 non-permanent seats rotate on two-year terms and are based on five regions.New Zealand was in the Western European and Others group.The last time New Zealand held one of the non-permanent seats was 1994.

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