There was an 11 per cent increase in China and the UK. And late last year General Motors announced it was to stop making cars in Australia by the end of 2017. 

 

Internet giant Google has announced it's buying firms data maker Nest Labs for 3.5 billion dollars. The California-based company was founded by two former Apple executives. It produces a themostat which works out whether the building is occupied or not using temperature humidity, activity and light sensors. 

 

Google says the cash deal is expected to be completed in the next few months. Former Apple Ipod visionary Tony Fidel will continue to head the company. 

 

Looking at the markets.

 

And the Dow regained some of yesterday's losses,trading about half a percent higher. The Nasdaq jumped 1.5 percent and the S&P 500 also rebounded, gaining almost a percent. In London, the FTSE posted modest gains. 

 

To commodity prices.

 

West Texas Crude is trading at 92 US dollars a barrel. Tapis Crude is trading at 113 US dollars a barrel. And gold is 1243 US dollars an ounce.

 

And the Australian dollar is buying 89.6 US cents, 65 Euro cents and 54 pence sterling.