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In this Tuesday, May 2, 2017, photo, shoppers holding bags from Macy's wait to cross an intersection in New York. Macy's Inc. reports earnings, Thursday, May 11, 2017. (AP Photo/Bebeto Matthews)

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LOWER sales have dragged down Macy’s profit during the first quarter as customers’ habits shift to more online shopping.

World Markets

FILE - In this Nov. 4, 2016 file photo, Jay Z performs during a campaign rally for Democratic presidential candidate Hillary Clinton in Cleveland. The Meadows Music and Arts Festival announced May 8, 2017, that Jay Z would headline the second edition of the New York concert in September. (AP Photo/Matt Rourke, File)

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JAY Z’s fortunes jumped 30 per cent last year to give him an estimated net worth of $1.1 billion, but it was not enough to dethrone Sean “Diddy” Combs.

World Markets

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US STOCKS have surged to a record high, while Apple became the first US company to close with a market capitalisation above $US800 billion.

World Markets

German Chancellor Angela Merkel delivers a statement to journalists after taking part in the Summit of the Business20 (B20) in Berlin on May 3, 2017. The B20 forum is a debate platform to discuss the G20 economies. / AFP PHOTO / John MACDOUGALL

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FRANCE’S future in the European Union seems a little more certain, with the pro-European Emmanuel Macron being elected president.

World Markets

Various plain packaging cigarette packets with varying number of cigarette sticks over the normal number ie 21 instead of 20 , 26 instead of 25 , 23 instead of 20 , including using the term Loosie for an extra stick .

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AUSTRALIA’S plain packaging tobacco law has been upheld at the World Trade Organization after a five-year legal battle.

World Markets

FILE: MAY 3, 2017 - According to reports, Facebook has declared first-quarter earnings of $8 billion, surpassing revenue expectations. The social media company attributed their Q1 earnings to an increase in users and ad revenue. LONDON, ENGLAND - MARCH 25: In this photo illustration the Social networking site Facebook is displayed on a laptop screen on March 25, 2009 in London, England. The British government has made proposals which would force Social networking websites such as Facebook to pass on details of users, friends and contacts to help fight terrorism. (Photo by Dan Kitwood/Getty Images)

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FACEBOOK will add 3000 people over the next year to monitor reports of inappropriate material and remove videos such as murders and suicides.

World Markets

FILE - In this Sept. 16, 2016 file photo, Lisa Gao compares a new jet black iPhone 7, right, with her iPhone 6 at the Apple Store in Chicago. Qualcomm says Appleâ€™s refusal to pay royalties related to technology used in smartphones will take a big bite out of its profit and revenue. Apple Inc. has sued Qualcomm, saying the chipmaker is abusing its control over essential technology and charging excessive licensing fees. Qualcomm says Apple has indicated that it wonâ€™t pay fees until the dispute is resolved. Representatives for the Cupertino, California-based iPhone did not immediately respond to a request for comment Friday, April 28, 2017. (AP Photo/Kiichiro Sato)

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APPLE has reported a surprise fall in iPhone sales, indicating customers held back in anticipation of the 10th-anniversary edition.

World Markets

DAY 95 - In this April 24, 2017, file photo, President Donald Trump, accompanied by his daughter Ivanka Trump, talks via video conference with International Space Station Commander Peggy Whitson on the International Space Station from the Oval Office of the White House in Washington. (AP Photo/Susan Walsh, file)

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DONALD Trump is considering breaking up some US banks by resurrecting a Great Depression law that kept consumer and investment banks separate.

World Markets

Workers inside a Foxconn factory in the township of Longhua in the southern Guangdong province in this file photo. PHOTO: REUTERS

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TAIWANESE electronics giant Foxconn, maker of Apple iPhones, has announced it’s in talks with the US government to boost investment there.

Leaders

(FILES) Donald Trump (L) is sworn in as the 45th US president by Supreme Court Chief Justice John Roberts in front of the Capitol in Washington on January 20, 2017. While the new US president has shown a capacity to change, both his tone and his positions, he has been unable to show the world a

Trump faces threat of shutdown

THE timing couldn’t be worse, but as Donald Trump prepares to mark 100 days in office, he is facing the prospect of a disastrous government shutdown.

World Markets

circa 1962: Cartoon family the Jetsons, comprised of George, Jane, Judy, Elroy, and Astro, flying in a space car in a space age city, in a still from the Hanna-Barbera animated television show, 'The Jetsons'. (Photo by Hulton Archive/Getty Images)

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A BAVARIAN start-up is developing a five-seat “flying taxi” after successful test flights over Germany of a smaller version of the electric jet.

World Markets

FILE - In this Oct. 1, 2015 file photo, host Bill O'Reilly of

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BILL O’Reilly has blamed his sacking from Fox News on “completely unfounded claims” that have been levelled against him.

World Markets

US President Donald Trump gives a thumbs-up as he walks to Marine One at General Mitchell International Airport in Milwaukee, Wisconsin, April 18, 2017, prior to returning to Washington following a trip to Kenosha, Wisconsin, to speak at Snap-On Tools. / AFP PHOTO / SAUL LOEB

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DONALD Trump will order federal agencies to look at tightening a temporary visa program used to bring high-skilled foreign workers to the US.

World Markets

French presidential election candidate for the far-right Front National (FN) party Marine Le Pen delivers a speech during a campaign meeting on April 17, 2017 in Paris. / AFP PHOTO / ALAIN JOCARD

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FRENCH centrist Emmanuel Macron is set to top the voting in the first round of France’s presidential election ahead of far-right leader Marine Le Pen.

World Markets

Sculptor Arturo Di Modica holds a model of Charging Bull, the depiction of the full size piece he created that draws thousands of visitors in lower Manhattan, during a news conference Wed., April 12, 2017, in New York. Di Modica and his attorneys announced at the news conference that he's challenging city officials who issued a permit for

Artist’s revenge against ‘Fearless Girl’

THE elderly artist of Wall Street’s “Charging Bull” says the placement of the “Fearless Girl” statue made him “sick” and wounded his pride.

World Markets

South Africa's President Jacob Zuma reacts during celebrations for his 75th birthday on April 12, 2017 in Kliptown, Soweto. Rival South African opposition parties joined forces on April 12 when tens of thousands of demonstrators marched through the capital Pretoria calling for President Jacob Zuma to resign, AS Zuma's recent sacking of respected finance minister Pravin Gordhan has fanned years of public anger over government corruption scandals, record unemployment and slowing economic growth. / AFP PHOTO / John WESSELS

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MORE than 30,000 people have marched in Pretoria calling on South African President Jacob Zuma to quit over his handling of the struggling economy.

World Markets

In this March 22, 2017 photo, the Charging Bull and Fearless Girl statues are sit on Lower Broadway in New York. Since 1989 the bronze bull has stood in New York City's financial district as an image of the might and hard-charging spirit of Wall Street. But the installation of the bold girl defiantly standing in the bull's path has transformed the meaning of one of New York's best-known public artworks. Pressure is mounting on the city to let the Fearless Girl stay. (AP Photo/Mark Lennihan)

Sculptor hits out at ‘Fearless Girl’

THE sculptor of Wall Street’s famous “Charging Bull” has slammed the “Fearless Girl” statue as an “advertising trick” that violates his legal rights.

World Markets

French presidential election candidate for the far-right Front National (FN) party Marine Le Pen delivers a speech during a campaign meeting in Arcis-sur-Aube, eastern France, on April 11, 2017. / AFP PHOTO / FRANCOIS NASCIMBENI

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FRENCH centrist Emmanuel Macron and far-right leader Marine Le Pen have clung on as frontrunners in France’s tight presidential race.

World Markets

US President Donald Trump speaks before Neil Gorsuch takes the judicial oath during a ceremony in the Rose Garden of the White House April 10, 2017 in Washington, DC. / AFP PHOTO / Brendan Smialowski

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THE Trump administration has scuppered efforts by the Group of Seven industrialised countries to reach a common stance on energy.

World Markets

TOPSHOT - Chinese President Xi Jinping (R) waves to the press as he walks with US President Donald Trump at the Mar-a-Lago estate in West Palm Beach, Florida, April 7, 2017. / AFP PHOTO / JIM WATSON

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CHINESE state media is cheering the meeting between US President Donald Trump and his Chinese counterpart Xi Jinping.

World Markets

US President Donald Trump speaks with Chinese President Xi Jinping at the Mar-a-Lago estate in West Palm Beach, Florida, on April 6, 2017. / AFP PHOTO / JIM WATSON

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THE leaders of the world’s two biggest economies, Donald Trump and Xi Jinping, have landed in Florida for a face-to-face meeting.

World Markets

(FILES) This file photo taken on December 28, 2016 shows logos of US online social media and social networking service Facebook in Vertou, France. Facebook on April 5, 2017 unleashed a new weapon in the war against

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FACEBOOK is adding tools to make it easier for users to report so-called “revenge porn” and to prevent the images from being reshared.

World Markets

British Prime Minister Theresa May (R) attends a meeting with Sarah al-Suhaimi, CEO of the Saudi Stock Exchange (Tadawul) at the exchange in the capital Riyadh on April 4, 2017. / AFP PHOTO / POOL / FAYEZ NURELDINE

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BRITISH PM Theresa May must prove “no deal is better than a bad deal” by offering an economic assessment on the impact of leaving the EU.

World Markets

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UNEMPLOYMENT in the eurozone fell to a near eight-year low in February, adding to signs that the 19-member economy is gaining momentum.

World Markets

NEW YORK, NY - MARCH 31: Traders work and financial professionals work on the floor of the New York Stock Exchange (NYSE) ahead of the closing bell, March 31, 2017 in New York City. The Dow Jones industrial index notched its sixth-straight positive quarter, marking the best run for the Dow since 2006. (Drew Angerer/Getty Images) == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==

Australian share market set to open higher

THE Australian market looks set to open slightly higher, bucking the lead from Wall Street where stock fell dragged down by Exxon and JPMorgan Chase.

World Markets

(FILES) This file photo taken on January 28, 2015 shows demonstrators holding signs against the proposed Keystone XL pipeline from Canada to the Gulf of Mexico in front of the White House in Washington, DC, on January 28, 2015. President Donald Trump on March 24, 2017 gave final approval to the US-Canada Keystone XL oil pipeline, saying it would create jobs and improve America's energy security.

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SIX environmental groups have filed a lawsuit against the Trump administration to challenge the controversial Keystone XL pipeline.

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THE Danish branch of the ride-sharing service Uber is shutting down its services in Denmark due to a proposed law that toughens standards for cabs.

World Markets

Britain's Prime Minister Theresa May (R) and Scotland's First Minister Nicola Sturgeon pose for a photograph ahead of their meeting in a hotle in Glasgow, on March 27, 2017. British Prime Minister Theresa May travelled to Scotland on Monday to try to avert its independence bid while also fighting a political crisis in Northern Ireland in the frantic final days before she launches Brexit. / AFP PHOTO / POOL / RUSSELL CHEYNE

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UK PRIME Minister Theresa May has told Scotland unity is crucial to Britain winning a good divorce deal from the European Union.

World Markets

ROME, ITALY - MARCH 25: Germany's Chancellor Angela Merkel gestures as she leaves the courtyard of the Musei Capitolini ahead of a special summit of EU leaders to mark the 60th anniversary of the bloc's founding Treaty of Rome on March 25, 2017 in Rome, Italy. The 60th anniversary of the signing of the treaties creating the European Economic Community and the European Atomic Energy Community the first major structural steps toward creating the European Union. (Photo by Franco Origlia/Getty Images)

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GERMAN Chancellor Angela Merkel’s conservative party have scored a convincing victory over their centre-left rivals in a state poll.

World Markets

FILE - In this July 17, 2016, file photo, then-Trump campaign chairman Paul Manafort talks to reporters on the floor of the Republican National Convention in Cleveland. U.S. Treasury Department agents have recently obtained information about offshore financial transactions involving Manafort, as part of a federal anti-corruption probe into his work in Eastern Europe, The Associated Press has learned. (AP Photo/Matt Rourke, File)

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US AGENTS have obtained information about offshore transactions involving Donald Trump’s former campaign chairman, Paul Manafort.

Original URL: https://www.news.com.au/finance/markets/world-markets/page/34