US President Donald Trump has invited Palestinian leader Mahmoud Abbas to visit the White House "very soon".

He extended the offer in a phone call on Friday with the Palestinian Authority president, their first contact since Mr Trump took office.
Mr Trump hosted Israeli Prime Minister Benjamin Netanyahu in February.
At that meeting, Mr Trump dropped a long-standing US commitment to a two-state solution for the Israeli-Palestinian conflict.
A "two-state solution" to the decades-old conflict between Israelis and Palestinians is the declared goal of their leaders and the international community.
It is shorthand for a final settlement that would see the creation of an independent state of Palestine within pre-1967 ceasefire lines in the West Bank, Gaza Strip and East Jerusalem, living peacefully alongside Israel.
The UN, the Arab League, the European Union, Russia and, until now, the US routinely restate their commitment to the concept.
The policy shift fuelled Palestinian concerns that Washington was becoming even more pro-Israeli under the Trump administration.
There have been no substantive peace talks between the Israelis and Palestinians since US-mediated negotiations broke down in April 2014.
Mr Trump's spokesman, Sean Spicer, confirmed on Friday that the US president had invited Mr Abbas to the White House "very soon".
The president told the Palestinian leader they would discuss how to rekindle peace talks, Abbas spokesman Nabil Abu Rdainah was quoted as saying by Reuters news agency.
He said Mr Trump had stressed "his commitment to a peace process that will lead to a real peace between the Palestinians and the Israelis".
Palestinian officials had indicated before Friday's call that Mr Abbas would press the US president about Israeli settlement-building on occupied land and the importance of a two-state solution.
During last month's joint press conference, Mr Trump asked Mr Netanyahu to "hold back on settlements for a little bit", appearing to catch the Israeli leader unawares.
The US Senate on Thursday approved Mr Trump's controversial nominee for ambassador to Israel.
David Friedman favours relocating the US embassy to Jerusalem, a highly inflammatory proposal because both Israel and the Palestinians lay claim to the city as their capital.
The US Ambassador to the United Nations, Nikki Haley, met the Palestinian envoy to the UN, Riyad Mansour, for the first time on Tuesday.
She tweeted afterwards that the Palestinians should "meet with Israel in direct negotiations rather than looking to the UN to deliver results".


Tiger Woods maintained his first-round momentum to share the halfway lead with fellow Americans Jim Furyk and David Toms in the US Open at Olympic.

Woods, bidding for a 15th major title, shot 70, while 2003 champion Furyk took 69 and 2001 US PGA winner Toms carded 70 to lead by one at one under par.
Clubhouse scores in full
Graeme McDowell, the 2010 champion, was one over with Nicolas Colsaerts, John Peterson and Michael Thompson.
Holder Rory McIlroy and world number one Luke Donald missed the cut.
The world's two top-ranked players were unable to fight back after disappointing first rounds and carded 73 and 72 to end 10 over and 11 over respectively.
McIlroy said: "It's just such a demanding golf course and punishes the slightest shot that's off-line or that's maybe not the right distance."
Five-time runner-up Phil Mickelson took 71 to end seven over, but Masters champion Bubba Watson also fell foul of the eight over cut mark with 78, 71 for nine over.
The 36-year-old Woods, three shots adrift of leader Michael Thompson in tied second overnight, picked up a shot at the third to take the lead but went backwards with three straight bogeys from the fifth.
But he settled himself with two pars before further birdies came at 10 and 13, and he missed other decent chances, notably on the 17th.
"It was really, really tough and I just had to stay as patient as possible," said Woods.
"I think I'm in a good spot. This tournament, you just keep plodding along.
The kind of players near the top of the leaderboard show exactly what type of game it takes to win a US Open. There's Tiger Woods, of course, who continues to hit more fairways than almost anybody here, 11 of 14 on day two with 14 of 18 greens in regulation. But also Furyk, Toms and McDowell who are all shorter but deadly accurate players, great putters and very patient grinders. And the fact those three are all major champions will certainly give Woods pause for thought. They're unlikely to be intimidated by him and a fascinating weekend lies ahead.
"You're just playing for a lot of pars. This is not a tournament where we have to make a bunch of birdies."
Woods's last major triumph came at the 2008 US Open before turmoil in his private life, injury and changing to a new coach derailed his progress. But eight times out of nine when he has held at least a share of the lead after 36 holes at a major he has gone on to win.
"It's been a very long time since my swing felt this good - don't forget I went through all of last year hurt and hadn't been able to practise," he added.
"Now it's becoming more consistent, day-in and day-out."
Furyk, who won his solitary major at Olympia Fields nine years ago, mixed two birdies with two bogeys to edge into contention.
"I kept the ball in the fairway pretty well," said Furyk. "I feel solid and in control so far. I know it's going to get even firmer and faster and even more of a stern test for the weekend."
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The 45-year-old, who also has four other top-five finishes in the US Open, said of the typically tough set-ups: "I guess you have to realise at the US Open that par is a really good score and you're going to make some bogeys.
"Mentally you have to be in a good frame of mind, and physically you have to be on top of a lot of areas of your game."
Toms joined the leaders late on with two bogeys on his front nine and two birdies on his back nine.
"I just hung in there," said Toms, who beat Mickelson for his US PGA title in Atlanta. "I knew not to get frustrated and keep grinding. You have to be mentally ready for anything and never give up."
England's Justin Rose followed his opening 69 with a 75 for four over alongside Ireland's three-time major champion Padraig Harrington (70).
World number three Lee Westwood (72), fellow Englishman Ian Poulter (75) and Scotsman Marc Warren (72) ended five over.
Seventeen-year-old amateur Beau Hossler led on his own briefly before falling back with a 73 to end three over, while 14-year-old Andy Zhang carded 79, 78 for 17 over.
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A £330m town centre campus for the University of Northampton has been approved.

Northampton Borough Council has granted outline planning permission for the development in the town's new Waterside Enterprise Zone.
The university plans to move from its sites in St George's Avenue and Boughton Green Road to a 55-acre site at Nunn Mills Road.
Vice-chancellor Prof Nick Petford said he hoped the campus would open in 2018.
He said the "ambitious" project was "vital for the future of the university and town".
An application for full planning permission will be lodged next year by the university, which has 14,500 students.
The university said the new campus would provide improved facilities, more opportunities to work with commercial enterprises and help boost the Waterside area with new leisure, education and business facilities.
Council leader David Mackintosh said: "The move will bring thousands of students right into the heart of town, creating a fantastic opportunity for businesses of all kinds."
The new campus will be situated on the Avon Nunn Mills site where the power station and Avon cosmetics factory were based.


This is my last blog here, as I've decided to leave my post as the BBC's Chief Business Correspondent based in Singapore and move back to the UK.

My move has set me thinking about the future of business news.  There are two words that sum that up: global and digital.
First let us consider global. Businesses are increasingly organised so that their supply chains and markets extend across national borders. This means that events which happen in one part of the world can have important effects on businesses everywhere.
So, it is vital for business journalists to steer away from closed-economy thinking. Understanding and explaining the connections between consumers, producers, and policymakers in different countries is now essential to covering the beat.
Second, we are in the midst of a digital revolution when it comes to the way news is reported and delivered to audiences. I am not predicting that the end of TV and radio listings is right around the corner, but viewers increasingly want to watch and listen at a time when they want to.
I found this with my own programme, Talking Business with Linda Yueh, where many UK viewers watched via BBC iPlayer. Outside the UK, where the BBC's on demand service was not available, the programme had multiple showings through the week.
It is inevitable that this trend will continue. The challenge for business reporting in the digital age, though, goes beyond simply making content more easily available online to suit viewer habits.
The prevalence of social media and the internet combined with smart phones mean that people have a huge amount of information available at their fingertips. News audiences are now more informed than ever before, especially in business. When news is reported in mainstream media, for many it is no longer new.  Personally, I often find news items from social media and other online sources faster than traditional ones.
Therefore, business news should look to add value for its audience in terms of relevant and rigorous analysis rather than just the reporting of events. It should be a trusted source among the many sources of information from which the viewer can choose.
Being global and digital are what I have tried to achieve in the last two years.
This may be my last blog here. But look for my posts elsewhere on the BBC website as I will continue to pen pieces that accompany programmes as a freelance presenter.
And readers of this blog know that I will always alert them to a new post via social media.


An exhibit featuring paintings of world leaders by former US President George W Bush is to open at his library in Texas.

In an interview with his daughter for NBC News, Mr Bush said he took up painting after leaving the White House because he was a "driven person".
One of the works featured is a stern-faced portrait of Russian President Vladimir Putin.
Mr Bush said he had come to know Mr Putin "very well".
While the former US president did not directly address Russia's annexation of Crimea, he said: "Vladimir is a person who in many ways viewed America as an enemy.
"I tried, of course, to dispel him of that notion."
Twenty-four portraits of world leaders Mr Bush met while in office are featured in the exhibit. The former US president told NBC he was reluctant to make them public "because I'm not a great artist".
He also told the US broadcaster he was inspired in part by a Winston Churchill essay, Painting as a Pastime, and said art had opened up a "whole new world".
The exhibition opens to the public - admission is $16 (Â£9.60) - on Saturday at the George W Bush Presidential Library and Museum in Dallas.


Farming and retail experts warn that this year's poor UK's harvest is going to trigger a rise in food prices on supermarket shelves.

The past 12 months have seen a range of extreme weather not just in this country, which experienced its second-wettest summer on record, but around the globe, such as the droughts in Russia and the US Midwest that effectively devastated these regions' wheat yields.
The UN Food and Agriculture Organization (FAO) latest figures showed that global food prices had risen by 1.4% in September as a result of fears of food shortages following poor harvests.
Projections of future changes to the planet's climate and its impact on the agriculture sector's ability to feed a rising global population has made the issue a priority for scientists.
The Biotechnology and Biological Sciences Research Council (BBSRC) is one of the UK's leading funding bodies for crop research and it has listed food security as one of its strategic priorities.
In 2010/11, it provided Â£100m - accounting for 36% of its funding - for research projects looking at improving food security.
BBSRC chief executive Douglas Kell acknowledged that food security was a complex, wide-ranging challenge but said science had an important role to play.
"For example, wheat yields were one tonne per hectare in the middle of the 19th Century but improved farming methods and agri-science research now sees us closer to nine tonnes per hectare in the UK today," he told BBC News.
"Research programmes, like the 20:20 Wheat Programme (which aims to increase yields to 20 tonnes per hectare in 20 years), hope to improve this further and in a number of ways, such as improving the way wheat uses the Sun's energy, better tolerance to stress or resistance to pests and disease."
Wheat has become a vital staple around the world since a chance hybridisation 10,000 years ago enabled humans to start harvesting and domesticating the cereal.
It is the UK's largest crop, and worldwide more land is used to grow wheat than any other crop. It has overtaken rice to become the second most-produced cereal after maize.
Prof Neil Hall, from the University of Liverpool's Centre for Genomic Research and part of the team behind the decoding of the wheat genome, said it took a long time for experiments in a laboratory to make it into the fields.
Throughout history, plant pests and diseases, such as potato blight, have devastated lives
Plant pests: The biggest threats
"The challenge crop breeders are facing is that they have to deal with rapid climate change that is not only affecting sunlight, temperature and rain but also crop pests.
"In wheat the breeding process, from identifying a desirable trait to generating a new variety that can be used in agriculture, can take more than 10 years," he told BBC News.
The challenge of using crop varieties available to farmers to feed the world's growing population in a rapidly changing climate was "humanity's greatest challenge in the 21st Century", according to Colin Osborne, a reader in plant biology at the University of Sheffield's Department of Animal and Plant Sciences.
"We need to increase crop yields using less land, irrigation and fertiliser," he explained.
Plant scientists involved in the university's Project Sunshine are looking for "innovative new solutions to these problems", Dr Osborne added.
"One ambitious project aims to boost crop growth by introducing a 'turbo-charger' that evolved many times in wild plants.
"We are also discovering new ways to reduce crop losses to pests and diseases."
He observed: "Our research looks at ways to prime natural plant defences, and to exploit partnerships with fungi to reduce crop dependence on fertiliser."
Gnawing problem
But attention must not just be focused on what is happening in the field.
The NFU recently warned that the wet summer had waterlogged rodents' usual habitats, increasing the risk of rats and mice seeking refuge in grain stores and farm buildings.
So not only do farmers have to contend with poor yields, they also face the problem of what they are able to collect from their fields being eaten before it passes the farm gates.
On a global scale, the problem of rodents eating grain is considered to be a serious threat to global food security and it is estimated that reducing the amount of crop lost in this manner by just 5% could help feed one third of the world's undernourished people.
In an attempt to find a way to deal with such infestations, a team of researchers from the University of Liverpool and Rothamsted Research is looking at ways to manipulate rodent behaviour.
The Â£4.7m project is investigating the scent signal mechanisms that rodents use to navigate around their habitat, communicate with each other, and reproduce.
It is hoped that the research will deliver more effective ways to control rodents, which can reproduce very quickly to plague proportions if a reliable source of food is available.
One of the UK's leading crop research organisations is the John Innes Centre (JIC).
A seed vault, built deep inside an Arctic mountain, protects the diversity of the world's food crops
'Doomsday' vault opens its doors
The centre's director, Dale Sanders, said plant science offered new ways to "sustainably increase crop yields, while at the same time reducing inputs such as fertiliser and pesticides".
"This will be achieved through a greater understanding of plants, how they grow, and how we can exploit the latest genomic technologies," he told BBC News.
"One focus of research is to reduce yield losses from pests, diseases and other stresses such as drought and climate change."
Prof Sanders said that wheat breeders had been working to increase productivity without a detailed knowledge of the genetics behind the changes they have made.
"Breeding has increased yields, but recently those increases have slowed. The possibilities for improvement are reaching their limit. New sources of genetic diversity are needed to revitalise wheat breeding."
He added that in  research being led by the JIC, scientists would seek to identify "lost" diversity and valuable traits from wild wheat and other grasses, from primitive varieties adapted to different conditions worldwide and from commercial bread wheat.
"This diversity will be incorporated into elite UK varieties ensuring breeders can quickly use it to make improvements in the field."
Just as drought can decimate yields, so can flooding.
Researchers have developed a "waterproof" rice variety that can withstand being submerged in water for prolonged periods, which would kill traditional varieties.
Rice is the primary food for three billion people, and more than 25% the world's harvest is grown in areas that experience extreme weather conditions.
'Valuable tool'
The BBSRC is part of the Global Food Security Programme, a partnership between UK research councils, government departments and agencies that aims to " meet the challenge of providing the world's growing population with a sustainable, secure supply of good quality food from less land and with lower inputs."
Global food security champion Prof Tim Benton said that even tiny changes in crop prices could have a big impact when it came to buying food.
"While some people can cope with an increased shopping bill, for others it can be devastating," he observed.
"A sudden and unexpected price change can be difficult for poorer households to cope with, particularly in developing countries.
"Scientific research provides a valuable tool for addressing these challenges."
Not everyone supported the idea that increasing yields through scientific advance will deliver food security.
Tim Lang, professor of food policy at City University London and former member of the government's Food Council, said just focusing on the role science can play in increasing food production was "nonsense".
"I belong to a school of analysis that says the problem is not just scientific or technical, the problem is societal, cultural and economic," he told BBC News.
Food 'folly'
Prof Lang called for a greater focus on the social dimension of food policy - behaviour, consumption, expectations - and not "repeat what has gone wrong from the 20th Century, which has been to say we will resolve the problem of feeding people adequately just by producing more food".
He said policymakers in the 1930s and 1940s had assumed that people would just eat what was good for their health.
"They said 'let's just unleash science and technology, and if we invest enough and get distribution right, prices will come down, markets will be full of food and people's health will improve'.
"The appeal being made that science will resolve this problem is folly. It is bad policy.
"A food policy that is dominated by the biosciences is heading into a new version of problems.
"We must learn the lessons of the last time that the science and technology arguments dominated food policy - it led us into the mess we are now in."


Bottom club Aston Villa were well beaten by Everton as home supporters walked out in protest at American owner Randy Lerner.

Fans headed for the exits in the 74th minute - Villa were formed in 1874 - with their side trailing 3-0.
Ramiro Funes Mori gave Everton the lead by meeting Kevin Mirallas' corner before Aaron Lennon's close-range finish doubled their lead.
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Romelu Lukaku made it 3-0 before Rudy Gestede headed a consolation for Villa.
The result leaves the home side eight points from safety with 10 games left.
Relive all the drama from Villa Park
Reaction from Villa Park and all of Tuesday's Premier League games
Mathematically, Villa can still avoid a first relegation since 1987.
Yet with five of their remaining 10 games against Manchester City (away), Tottenham (home), Chelsea (home), Manchester United (away) and Arsenal (away), they have their work cut out to avoid the drop.
The mood inside Villa Park was ugly throughout, with fans in the sub-30,000 crowd making their feelings known towards the club's hierarchy.
Those who joined the 74th-minute protest - which will be repeated at their next two home games - missed substitute Gestede's goal from a Jordan Veretout cross.
However, it could not prevent Villa from a ninth defeat in 17 league games - and third in a row - under Remi Garde.
"The mood is turning ugly. The crowd are chanting 'from European nights to relegation fights - we want Lerner out'. A few fans are pointing fingers at chief executive Tom Fox in the directors' box.
"There are hundreds of fans streaming out of Villa Park. There are a lot of people who have paid a lot of money walking out. The Villa fans are voting with their feet. I haven't seen anything like this before at Villa.
"I remember the demonstrations against Doug Ellis, but he must seem a great chairman in retrospect. This is the worst team I've seen in 41 years of reporting on Villa, simple as that."
There is renewed pressure on Roberto Martinez following the multi-million pound investment in Everton by Iranian billionaire Farhad Moshiri.
Yet if the Spaniard is feeling the heat, he did a great job disguising it, taking time to shake hands with Villa's mascot and sign autographs during the match.
His side controlled the game from start to finish, racing into a 2-0 lead as Villa left Funes Mori in space to score before Lennon fired home after being teed up by the impressive Mirallas.
Funes Mori turned provider as Lukaku's knee helped make it 3-0 and it could have been more - Bryan Oviedo had a shot cleared off the line.
There will be much tougher tests for Martinez and Everton but, having climbed above neighbours Liverpool into 10th spot, this was a highly satisfactory night for them.
Aston Villa boss Remi Garde: "When you prepare a plan and so early in the game you have to change it, it's very difficult. We were too fragile, we didn't take the advantage of playing at home.
"The positive sign is that we never gave up and we reduced the score. But it's difficult to keep a positive mood when you miss chances like we missed today."
Everton manager Roberto Martinez: "We managed the game well - it's always difficult when you're away from home to get a real good composure but we had that. It's a performance that won't get the credit it deserves - Aston Villa had a lot of fight.
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"I feel that the squad is in a very good moment - we've been very consistent the last six games. We're enjoying our football and playing with a lot of confidence."
It does not get any easier for Villa. They face teams chasing the title in both of their next two games - visiting Manchester City on Saturday (15:00 GMT) before hosting Tottenham on 13 March.
Everton will try to make it four wins in five Premier League games when they host West Ham on Saturday (15:00 GMT).
Match ends, Aston Villa 1, Everton 3.
Second Half ends, Aston Villa 1, Everton 3.
Attempt saved. Ramiro Funes Mori (Everton) left footed shot from very close range is saved in the centre of the goal. Assisted by Romelu Lukaku.
Corner,  Everton. Conceded by Aly Cissokho.
Attempt blocked. James McCarthy (Everton) left footed shot from outside the box is blocked. Assisted by Ross Barkley.
Corner,  Everton. Conceded by Ciaran Clark.
Ross Barkley (Everton) wins a free kick in the attacking half.
Foul by Idrissa Gueye (Aston Villa).
Attempt missed. Alan Hutton (Aston Villa) header from the centre of the box misses to the right. Assisted by Jordan Veretout with a cross following a corner.
Corner,  Aston Villa. Conceded by Aaron Lennon.
Attempt saved. Jordan Ayew (Aston Villa) right footed shot from outside the box is saved in the centre of the goal. Assisted by Rudy Gestede with a headed pass.
Substitution, Everton. Oumar Niasse replaces Kevin Mirallas.
Corner,  Everton. Conceded by Alan Hutton.
Attempt blocked. Kevin Mirallas (Everton) right footed shot from the left side of the box is blocked. Assisted by Romelu Lukaku.
Corner,  Aston Villa. Conceded by Ramiro Funes Mori.
Attempt blocked. Rudy Gestede (Aston Villa) right footed shot from the right side of the box is blocked. Assisted by Idrissa Gueye.
Attempt blocked. Leandro Bacuna (Aston Villa) left footed shot from outside the box is blocked.
Substitution, Everton. Leighton Baines replaces Bryan Oviedo because of an injury.
Foul by James McCarthy (Everton).
Leandro Bacuna (Aston Villa) wins a free kick on the left wing.
Goal!  Aston Villa 1, Everton 3. Rudy Gestede (Aston Villa) header from the centre of the box to the top right corner. Assisted by Jordan Veretout with a cross.
Delay over. They are ready to continue.
Delay in match Bryan Oviedo (Everton) because of an injury.
Substitution, Everton. John Stones replaces Seamus Coleman.
Attempt missed. Idrissa Gueye (Aston Villa) left footed shot from outside the box is high and wide to the left following a corner.
Corner,  Aston Villa. Conceded by Bryan Oviedo.
Substitution, Aston Villa. Jordan Veretout replaces Ashley Westwood because of an injury.
Attempt missed. Romelu Lukaku (Everton) left footed shot from the left side of the six yard box is too high. Assisted by Phil Jagielka with a headed pass following a corner.
Corner,  Everton. Conceded by Aly Cissokho.
Delay over. They are ready to continue.
Substitution, Aston Villa. Rudy Gestede replaces Gabriel Agbonlahor.
Delay in match Micah Richards (Aston Villa) because of an injury.
Attempt missed. Ashley Westwood (Aston Villa) right footed shot from the centre of the box is close, but misses to the left following a corner.
Corner,  Aston Villa. Conceded by Phil Jagielka.
Corner,  Aston Villa. Conceded by Phil Jagielka.
Attempt blocked. Ashley Westwood (Aston Villa) right footed shot from the centre of the box is blocked. Assisted by Micah Richards.
Corner,  Aston Villa. Conceded by Bryan Oviedo.
Goal!  Aston Villa 0, Everton 3. Romelu Lukaku (Everton) right footed shot from very close range to the high centre of the goal. Assisted by Ramiro Funes Mori with a cross following a corner.
Corner,  Everton. Conceded by Brad Guzan.
Attempt saved. Romelu Lukaku (Everton) header from the centre of the box is saved in the bottom left corner. Assisted by Aaron Lennon with a cross.


Experts tell us not to panic, but that's just what it looks like.

Slowing growth in China, collapsing oil prices, and now a bear market in shares all contribute to a scary scenario.
Despite the odd short-term respite, stock markets in the UK, France and Japan have now dipped by more than 20% since their peak in April last year.
The value of companies quoted on the FTSE 100 has fallen by no less than £396bn since then - that is, more than £6,000 per person in the UK.
"As markets globally enter bear territory, we have started to see panic creep into the market," says Adrian Lowcock, head of investing at AXA Wealth.
"This can cause investors to act irrationally and increase volatility in the short term."
So how much are ordinary people affected, and if you are affected, how much should you worry?
Even if you don't own shares directly, most workers in the UK now pay into an occupational pension scheme, thanks in part to the government's auto-enrolment programme.
Such schemes are mostly - but not totally - invested in shares.
The value of such schemes will have fallen significantly, and for those in defined contribution schemes, eventual pay-outs will look significantly smaller than they did nine months ago.
That will be a problem if you are about to retire and you need to use your pension fund to buy an income immediately.
If you can, experts advise holding off buying an annuity, for example, until share prices recover.
"You might be better served drawing an income from your fund in the short term, or looking to other savings," says Tom McPhail of Hargreaves Lansdown.
For example, Hargreaves Lansdown calculates that someone buying an annuity with a £50,000 fund would now get an annual income £433 lower than if they had bought it last April.
If you are some way off retirement, there may be no need to worry. Unless capitalism itself is under threat, markets will recover - eventually.
Those who still pay into a final-salary scheme will not be affected at all, as such schemes promise a particular annual income.
However, collapsing share prices could further threaten the viability of such schemes, should they persist. Members could be asked to increase their contributions as a result.
In any case, many pension funds will not have been hit as badly as the FTSE 100, with its bias towards oil and mining companies.
The following areas have performed much better:
In other words, although most pension funds will have lost some of the value of your savings, many will not have lost as much as the headlines suggest.
Slowing growth in China, and fears that its currency has further to fall, constitute one reason for the current turmoil. There is good reason for that: China has been responsible for half the world's growth since the financial crisis.
Indeed, falling Chinese demand is one factor behind the collapsing oil price, which itself has hit the value of companies such as Shell and BP, in which so many pension funds are invested.
But some experts already think that the pessimism may have been overdone.
"For instance, the global economy is growing around 3%, and whilst China's economy - which is the focus of so much of the recent sell-offs - has slowed, there's still growth, strong consumption, and indeed the world's second-largest economy does look relatively stable," says Nigel Green, chief executive of the advisory De Vere Group.
As far as oil is concerned, Bob Dudley, the boss of BP, expects prices to rebound this year to as much as $50 a barrel. It takes a brave investor to buy oil shares now, but even if they don't go up in value, they are currently paying high dividends.
If Shell were to maintain its payout, for example, new investors could make a 9% return. BP's dividend is currently more than 7%.
In principle, investors are usually advised to buy - not sell - shares when they are cheap. But equally, experts say it is hard to call the bottom of the market.
Yet for those paying into pension funds on a regular basis, it is worth noting that you are currently buying shares cheaply anyway.
This is known as dollar/pound cost averaging. Losses you make on having bought shares expensively in the past should be matched by the better value you are getting now.
"Long-term stock ownership is, typically, the best way to create and grow wealth for investors," says Nigel Green.
"Stock markets can be fairly predictable over long periods of time."
If small investors do want to dip their toe in the water, Jason Hollands, of Tilney Bestinvest, thinks markets in Europe and Japan offer the best value, largely because their central banks are likely to introduce further stimulus for their economies.
"Both regions are already printing money, but are nowhere near their target rates of inflation, and therefore there is a real prospect of them stepping harder on the accelerator, which would support asset prices," he says.
Overall, Nigel Green offers four top tips:


Johanna Konta must overcome five-time champion Venus Williams if she is to become the first British woman to reach a Wimbledon final for 40 years.

Sixth seed Konta, 26, takes on the 37-year-old American in Thursday's second Centre Court match at about 15:00 BST.
It is the first time since Virginia Wade in 1978 that Britain has had a woman in the Wimbledon semi-finals.
Spain's Garbine Muguruza plays Magdalena Rybarikova of Slovakia in the first semi-final at 13:00.
Konta is one win from her first Grand Slam final and two from matching Wade's victory of 1977.
She was rated by bookmakers as the tournament favourite as early as the third round, and her dramatic quarter-final win over Simona Halep attracted the biggest television audience of the tournament so far.
"We all think Jo has got such a good chance to win," the 72-year-old Wade told the BBC.
"You have to embrace and celebrate for a bit, embrace the exhilaration, but then you have to get right back down to work.
"I would have someone else read the newspapers for you and not set eyes on them."
Hopes of a British double were dashed with defending champion Andy Murray's defeat by Sam Querrey on Wednesday, but the men's world number one said: "I hope she goes on to win the tournament.
"She's certainly got a fantastic chance - there's no reason why she can't do it."
Konta and Williams might be at different ends of the spectrum in terms of Grand Slam experience, but history is on the line for both women in Thursday's second semi-final.
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The British player has coped serenely thus far, despite the growing sense of hope and belief among the home crowd.
"In terms of the home support I feel very excited and very humbled by it," said Konta.
"When you get a massive crowd of people cheering, making that sort of noise in a stadium, you do get goosebumps."
Williams, seeded 10th, is on the brink of a remarkable achievement of her own, with the prospect of an eighth major title and first since 2008 looming large.
The American's age is an obvious talking point - she is the oldest player to reach a Grand Slam semi-final since Martina Navratilova at Wimbledon in 1994 - but she has been a consistent contender in the Grand Slams over the past year.
Having reached the semi-finals at Wimbledon 12 months ago and the Australian Open final in January, age is not a concern for the former world number one.
"When you're out there, all you're thinking about - especially at least on my side - all I can control is myself," said Williams, playing her 20th Wimbledon.
"In the thick of the match, it's not in your head."
Kim Clijsters, former world number one: "A lot of people talk about Jo having to deal with the pressure of playing at home, but on the other hand I think it is such a huge advantage at times - if like her you can not be too distracted too much by everything that is going on."
Sam Smith, former British number one: "Her competiveness, her fitness, the way she has managed her emotions and stayed focused are all weapons that will help Jo massively. Her game is just fantastic at the moment. The serving is awesome and her groundstrokes are so strong - you just never think she is going to miss a backhand."
Patrick Mouratoglou, coach of Serena Williams: "Venus is back to a great level. She didn't waste time here, she looks confident, she is playing great and has a lot of physical and mental energy. Johanna on the other side wasted a lot of energy. It's exhausting physically and mentally. It's difficult to maintain that every match and at a certain point it's going to come back to hurt her."
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The pair have met five times, with Konta leading 3-2 but Williams having won their most recent encounter on the Rome clay two months ago.
This will be their first meeting on grass, the surface on which Williams won five of her seven major titles between 2000 and 2008.
Konta, in contrast, had just one win to her name in five previous visits to the All England Club before this year.
The Briton leads the Wimbledon aces chart on 28, ahead of Williams on 27, and both women base their games around impressive serves and strong backhands.
The American has made smoother progress through the draw, dropping just one set over the course of five matches and seven hours on court.
Konta has required over 10 hours, winning three dramatic three-set matches along the way.
Ranked 126th in the world when she played at Wimbledon two years ago, she is set to break into the top five after the tournament and would move up to third if she wins the title.
Muguruza, 23, has the Grand Slam pedigree in the second semi-final as a former Wimbledon finalist and French Open champion, but Rybarikova is on a roll on grass.
The unseeded 28-year-old has an 18-1 record on the surface this year as she makes her way back after wrist and knee surgery in 2016.
"I was dreaming about it since I was a little kid, to be in the semi-final in Wimbledon," said the world number 87.
Muguruza is working her way back to the form that saw her reach the final in 2015.
"It means a lot," she said. "I think a lot of things have to click to be able to win a major. I'm feeling pretty good. I'm being aggressive and not doing a lot of errors."


AB de Villiers will keep wicket for South Africa in the first two Tests of the home series against England.

The hosts have not named another keeper in their 13-man squad for the first Test in Durban on 26 December and the second in Cape Town on 2 January.
De Villiers, 31, has kept in 23 of his 102 Tests, most recently against West Indies in January.
Cricket South Africa said the move was to boost the side's batting depth after the recent 3-0 series defeat in India.
De Villiers, who is third in the International Cricket Council Test batting rankings, has scored 7,864 runs at an average of 51.39.
Wicketkeeper Dane Vilas has been dropped after his struggles with the bat and gloves in India, while Quinton de Kock also misses out.
With seamer Vernon Philander still injured, Kyle Abbott retains his place in the pace attack alongside Dale Steyn, Morne Morkel and Kagiso Rabada.
Uncapped batsman Rilee Rossouw is also included, with off-spinner Dane Piedt selected as the only specialist spinner ahead of Simon Harmer and Imran Tahir.
England face the number one-ranked Test side in a four-Test series before five one-day internationals and two Twenty20 internationals.
South Africa squad for first two Tests: Hashim Amla (capt), AB de Villiers (wk), Kyle Abbott, Temba Bavuma, JP Duminy, Faf du Plessis, Dean Elgar, Morne Morkel, Dane Piedt, Kagiso Rabada, Rilee Rossouw, Dale Steyn, Stiaan van Zyl.


Chris Froome can continue competing at the highest level for "three or four more years", Team Sky boss Sir Dave Brailsford believes.

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Team Sky's Froome, 31, became Britain's first three-time Tour de France winner on Sunday when he added the 2016 race to his successes in 2013 and 2015.
"He's as hungry as ever," Brailsford told BBC Radio 5 live.
"Much of how far he can go will be about how much he can retain his desire," Brailsford added.
Before heading out to Rio to prepare for the Olympic Games, Froome will take part in Sunday's RideLondon-Surrey Classic.
He will lead a Team Sky squad which includes Geraint Thomas, Ian Stannard, Ben Swift, Christian Knees and Dutch sprinter Danny van Poppel.
Froome's three victories in four years follows Sir Bradley Wiggins becoming the first Briton to win the race in 2012.
Brailsford said Froome manages to both focus on his own individual performance as well as be a "brilliant leader" for the team.
"He's very meticulous, he sends them a little text every night, he communicates well with them," said Brailsford.
"Equally they can see that he is on it and so they believe in him. And when they believe in someone the commitment levels and the enjoyment levels go up a notch."
In the past Froome has received a tough reception from the French crowds, but the three-time champion believes the 2016 Tour has seen a "huge shift" in attitudes.
He added: "You see people on the roads with supporter jerseys from other teams, from the French teams, and they really give it some: 'Come on, allez Sky, allez Froome!'
"It's heart-warming to feel that and feel there's this respect now from the French public."
Often criticised for an understated personality, the rider hopes that this race allowed spectators and viewers to see more of his character.
"I think people have found it hard to relate to me in the past," Froome said.
"That's just the way I am, I'm not necessarily a hugely outgoing kind of guy.
"I think as this race has gone on people have got to me know me a little bit better, know my character a little bit better."
The 31-year-old beat Romain Bardet of France by four minutes and five seconds, with Colombia's Nairo Quintana in third and Britain's Adam Yates - who also took the white jersey for best young rider - in fourth.
"It would be my dream to keep coming back for the next five or six years and give myself the best opportunity of winning again," said Froome, who became the first person to successfully defend the title for 20 years.
Froome's victory was not without incident, with accidents occurring on both stage 12, when he ran up Mont Ventoux after his bike was broken, and stage 19.
Speaking about the second crash, which occurred two days before the end of the race, he told Radio 4's Today programme: "It was pretty scary - the initial feeling is just to get straight back up again and in the next two or three minutes you go through the checks thinking, right, is everything still working?
"Everything was fine, you lost a bit of skin, but you've just got to keep going."
Froome, who was competing in his first Tour de France since becoming a father, dedicated the victory to his son, Kellan.
He said: "I'd love my son to look back in 10 years' time and for him to be proud of his old man."


Jamie Fullarton has been sacked by League Two side Notts County after just 70 days as manager at Meadow Lane.

The 41-year-old's 12-game spell in charge was brought to an end following Saturday's 4-1 home loss to Exeter, which left Notts 19th in the table.
Notts have taken just one point from a possible 15 at home and won three games since Fullarton replaced Ricardo Moniz.
The Magpies, who are up for sale, are expected to appoint a successor as early as Sunday.
Fullarton's departure comes a day after Notts County owner Ray Trew agreed a deal to sell the club to an American company.
The former Bolton Under-21 coach's departure from his first managerial job came just hours after fans held protests calling for his sacking.
Since Fullarton took charge, Trew has stepped down as chairman and put the club on the market, while chief executive Julian Winter resigned earlier this month.
"While it is well known that my position at the club has changed in recent weeks, I still have a responsibility to do what I feel is best for Notts County and that means acting when things aren't going right on the pitch," Trew told the club website.
"I have to thank Jamie for his efforts over the past few weeks because he has had to face an incredibly difficult atmosphere, somewhat unfairly I feel.
"He has maintained an exceptional level of professionalism throughout and should be applauded for how he has conducted himself."
The Magpies, relegated from League One last season, have failed to win at Meadow Lane in seven games, dating back to their 4-3 triumph over Newport County on 12 December.


One teacher in the US has found an unusual way to get her class to concentrate better - by installing bike pedals under the desks.

11 October 2016 Last updated at 07:03 BST
The idea is that cycling during lessons helps the pupils to focus their energy and stop them from fidgeting.
Students at Martin GT Magnet Middle School in North Carolina tell Newsround what they think about it.


A Latvian man has pleaded guilty to creating malware that stole millions of dollars from online bank accounts.

Deniss Calovskis admitted in a New York court hearing that he had been hired to write part of the Gozi computer virus.
The code Calovskis wrote changed banking websites and helped make the virus more effective.
Gozi was first found in 2007 but remained active for years and is thought to have infected more than one million computers worldwide.
"I knew what I was doing was against the law," Calovskis said in court, answering charges of conspiring to commit computer intrusion.
Calovskis was extradited to the US from Latvia in February after lengthy negotiations between the two nations over the potential sentence he would serve.
Latvian government officials initially resisted calls to hand over Calovskis, saying US plans to sentence him to more than 60 years in jail did not represent "proportionate punishment".
A plea agreement on sentencing reached with lawyers representing Calovskis means he will not appeal against any jail sentence of two years or less.
It is not clear whether the 10 months Calovskis spent in jail in Latvia during the extradition row will count as part of the sentence he eventually receives.
He is scheduled to be sentenced on 14 December.
Two other men have been arrested in connection with the creation and administration of Gozi.
Russian national Nikita Kuzmin is in jail in the US following his arrest in May 2011 on separate hacking and fraud charges.
Extradition proceedings against Romanian Mihai Ionut Paunescu are currently on hold pending an appeal.


Bubba Watson finished his year on a high with victory in the Hero World Challenge in the Bahamas.

The American started the final round two shots ahead of Paul Casey but as the Englishman fell back, Watson maintained his challenge.
He had two birdies in his first three holes and ended with a round of 66 for a 25-under total
American Patrick Reed was second, three shots behind, with Rickie Fowler third.
Watson, the two-time Masters champion, only came into the field after Australian Jason Day withdrew.
The tournament, hosted by Tiger Woods, featured an exclusive 18-man field and although it offered world ranking points, it is not an official PGA Tour event.


Liberia have failed in a second appeal to the Court of Arbitration for Sport (Cas) over the Confederation of African Football's decision to change its rules on presidential elections.

The appeal has again been ruled "not admissible" by the court.
Liberia had requested the suspension and cancellation of the governing body's changes.
Cas once again said that it accepted Caf's contention that its own appeals procedure must be followed first.
The latest decision follows the ruling by Cas in November that Liberia had submitted their case too early.
At the time Liberia Football Association chief, Musa Bility said his body had chosen not to appeal to Caf, despite the court's instructions.
Cas has always maintained it is unable to get involved because it recognises Caf's own internal appeals procedure.
Liberia's concern is that any appeal would not be heard until Caf's General Assembly in March, the same meeting at which the presidential elections are due to be held.
The new amendment determined that only voting members of the Caf executive committee can run for the presidency - which prevented Jacques Anouma and Danny Jordaan from bidding for the role.
It effectively left the current president, Issa Hayatou, unchallenged for the job.
The Cameroonian, who is bidding for a new term that will keep him in power until 2017, has been in charge of African football's ruling body since 1987.


Proposals to change Tata's pension scheme would be unique to the company and would not be applied more broadly, Business Secretary Sajid Javid has said.

Speaking in Parliament, Mr Javid said he was "wary of setting a precedent".
Tata is looking to sell its loss-making UK business but the pension deficit is said to be hampering the process.
However pension experts warned earlier that the changes could take ministers down a "dangerous path".
Mr Javid has launched a consultation to consider the financial situation of Tata's UK pension scheme. He said the government was considering the proposals at the request of the trustees of the pension scheme and that any changes would need the approval of the regulator.
He stressed that several options were being considered.
"No decision has been made. We are wary of setting a precedent," he said.
"This is very much about this scheme and this scheme only, in very unique circumstances."
How steel workers' pensions could be hit
One option under discussion is to base the scheme's annual increase on the Consumer Prices Index (CPI) inflation measure, which is usually below the Retail Prices Index (RPI) measure currently used.
This is the path favoured by the British Steel Pensions Scheme as they say it would leave most of the pension holders either better off or no worse off, compared with entering the Pension Protection Fund (PPF), which is the likely alternative.
The PPF is a pensions lifeboat, funded by companies, designed to protect pensioners if their scheme were to go under. However, steel workers would be worse off under it.
The company and the steel trade unions also welcomed the consultation, with the union saying that entering the PPF would be an "unmitigated disaster".
"We need to ensure that there are cast iron safeguards in place so this unique situation does not result in employers dodging their pensions responsibilities," the union added in a statement.
In total the British Steel pension scheme has 130,000 members. The scheme has a deficit of Â£485m.
Earlier, former Lib Dem pensions minister Steve Webb said: "The government is going down a very dangerous path.
"Everyone has huge sympathy for steel workers and for efforts to protect jobs, but rushed changes to pension rules risk driving a coach and horses through the pension security of hundreds of thousands of workers well beyond the steel industry."
Meanwhile the pensions expert Tom McPhail  from Hargreaves Lansdown said: "The potential deal on British Steel could rip a hole in one of the most fundamental principles of pension provision. It is well-established that pension benefits, once granted cannot be taken away."


Sale Sharks scrum-half Mike Phillips says his side can use the positives from their European Champions Cup loss to Scarlets when they face Toulon.

Scarlets beat Sale 28-11 in Phillips' return to Wales while Sale face the 2014-15 champions at home on Friday.
"We weren't there at all [at Scarlets], but we play against Toulon and that's a massive fixture for us," Phillips said.
"There were some positives and if we take that into next week, we've a good home record so maybe we can do well."
Phillips signed for Sale in summer 2016 following a five-year spell playing domestic rugby in France with Bayonne and Racing 92 and knows Sale's next opponents well.
"Toulon are a great team, they've got stars and it's a great test for us really," he told BBC Wales Sport.
"It's a chance for us to show what we can do and hopefully we can play a bit better than against Scarlets."
After half a decade playing rugby outside of Britain, Phillips is pleased to return and is enjoying his time in the English Premiership.
"I love the club and the boys have been great. I've been settling really well, there's friendly people and it's a great place to live so I've been enjoying that aspect of it and hopefully we can be successful on the field and that will make life much easier," he continued.
"Every game is tough [in the Premiership]. Every team is stacked with stars and really physical and it's a great league to be in to test yourself. I've enjoyed it so far and hopefully we can be successful and win our home games and see what we can do."


A man is in hospital with stab wounds following an alleged murder attempt at a garage in Newport.

Gwent Police officers were called to Tregwilym Road, in Rogerstone, at about 08:50 BST on Friday.
They say the 39-year-old man has life-threatening injuries and is being treated at the city's Royal Gwent Hospital.
Four men have been arrested on suspicion of attempted murder and are being questioned by officers.


Bolton manager Owen Coyle says it would not surprise him if Fabrice Muamba played football again, but stressed the midfielder will need time.

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Muamba was discharged from hospital on Monday having collapsed during an FA Cup tie with Spurs on 17 March.
"Knowing Fabrice and how much of a battler he is, it wouldn't surprise me if he comes back," said Coyle.
"God willing, if he ever comes back to play then of course, that will be a huge boost to everybody."
I understand, because of the interest in Fabrice, that everybody thinks he's released from hospital so that's it, he's singing and dancing down the street
The 24-year-old collapsed after 41 minutes of the FA Cup quarter-final tie and was given mouth-to-mouth resuscitation and 15 defibrillator shocks before he arrived at the intensive care unit of the London Chest Hospital.
He is now spending time at home with his fiance and son as he continues his recovery, but Dr Richard Cooke, a consultant cardiologist at London Bridge Hospital, told the Manchester Evening News Muamba might be back within six months.
"It would seem highly likely that he would have had a defibrillator put in," Cooke said.
"There are some footballers who do play with them and have had a similar history, so as long as he makes a full neurological recovery, from a heart perspective there is no reason why he couldn't resume his professional football career.
"I understand he has made a surprisingly good recovery and all being well, I would not be surprised if he was back playing football in six months."
The Bolton boss spoke to Muamba on the phone after training on Thursday.
"You can always tell from the sound of somebody's voice and he sounded in a good place," said Coyle. "It was great to hear from him and he sounded terrific.
"That's a huge boost given where he's come from - we've all seen the sad events in Italy," he added, in reference to the death of 25-year-old Livorno midfielder Piermario Morosini from a heart attack while playing at Pescara on 14 April.
But the Trotters boss was keen to stress that the Bolton midfielder would need time.
"I understand, because of the interest, that everybody thinks he's released from hospital so that's it, he's singing and dancing down the street. But people have got to understand there's room for continued improvement.
"His little lad hadn't been able to see him for a period so it's important we give them that time to be together."
Coyle also said he would leave it to Muamba to decide whether he wanted to visit his Bolton team-mates before the end of the season, as they fight to avoid relegation from the Premier League.
"That would be Fabrice and his family's decision. He'll not come under any pressure from us," Coyle said.
"Once he feels he's up to it then all good and well. If it's next season, great."


Vets are warning would-be dog owners to think twice before buying breeds with fashionably "flat-faced" features - because of concerns over their welfare.

Pugs, bulldogs, French bulldogs and shih-tzus have become sought-after in the UK, despite wide-ranging health problems.
Their appeal is attributed to having "squashed" faces and wrinkled noses.
The British Veterinary Association said the surge in popularity of these dogs had "increased animal suffering".
Sean Wensley, president of the British Veterinary Association (BVA), said: "Prospective owners need to consider that these dogs can suffer from a range of health problems, from eye ulcers to severe breathing difficulties.
"We strongly encourage people to choose a healthier breed or a crossbreed instead."
The warning has been echoed by the PDSA, the Royal Veterinary College, the RSPCA and the Kennel Club.
Meanwhile, evidence suggests that an increasing number of the dogs - more correctly known as brachycephalic or short-muzzled dogs - are being abandoned by their owners.
Six dog rescue companies told the BBC that the breeds were being given up in greater numbers.
Battersea Dogs Home and Bluecross Animal Rescue received a total of 314 "flat-faced" dogs in 2015, compared to 226 in 2014, an increase of 39%.
Both charities said they were carrying out more surgical procedures to clear the airways of the dogs they brought in - removing obstructive pieces of tissue and widening nostrils.
Steve Gosling, a vet at Battersea Dogs Home, said one of their dogs, Winston the bulldog, was a typical example.
He said: "He's a lovely little chap, about eight years old. He was left with us by his owners and, like many dogs from this breed, he suffers from what we call brachycephalic obstructed airways syndrome.
"In other words, because he has a really short nose that we've bred into him, he has quite serious breathing difficulties."
Mr Gosling said the charity operates on dogs like Winston "quite regularly" because shortness of breath can be a very distressing condition.
He added: "And we don't want to re-home animals knowing that we can improve their quality of life."
A recent survey by the Royal Veterinary College suggests many owners of brachycephalic dogs are not aware of the common underlying health problems.
Caroline Reay, chief vet at Bluecross Animal Hospital in Merton, said: "Most owners - and some vets - think airway noise, and consequently reduced activity, is normal, so the problems are rarely discussed.
"And I think the number of operations we are carrying out is really only the tip of the iceberg".
The extremely broad head shape seen in in pugs and bulldogs is not a natural look. It developed as a result of intense, selective breeding.
It has led the RSPCA to call for an urgent review of the breed standards, which are decided by the Kennel Club, and specify how every type of dog should look.
Caroline Kisko, the Kennel Club secretary, said: "The breed standards were set many years ago. If you look back through history there are some dire things that went on, and undoubtedly we would accept all responsibility for that.
"But I would say that in the here-and-now, after all of the changes to the standards that were made in 2009, we would expect dogs to be far healthier if they are winning prizes at dogs shows."
Mrs Kisko said the problems with brachycephalic dogs were being perpetuated in the main by disreputable puppy farms.
She said: "If we continue to allow dogs to be brought in from central and eastern Europe where there is no concern for how these dogs are bred, it is inevitable that pet owners will end up with dogs they can't deal with.
"These are breeds which aren't hugely suited to pet homes. If you want a pet that will run around and chase a ball and so on, don't go out and buy any short-faced breed based on what celebrities are walking around with under their arm."
This summer the Royal Veterinary College opened the UK's first specialist clinic to address problems in flat-faced dogs.
More than 12,000 vets and vet nurses have signed an online petition calling for a working party to address the increasing health problems in brachycephalic dogs and cats.


The BBC has released details of where licence fee-funded local journalists will be based across the country, with jobs being phased in from the summer.

It has set aside £8m a year to pay for 150 reporters, who will work for local news organisations rather than the BBC.
The journalists will cover council meetings and public services and share their stories with the BBC.
James Harding, director of BBC News and Current Affairs, said it would strengthen local news coverage.
"As more power is devolved across the UK, it's more important than ever that we cover, understand and hold to account local politicians and public services," he said.
So far, the BBC has allocated 20 reporters in Scotland, three in Northern Ireland, 11 in Wales and 104 in England, with plans to place the full 150 journalists by 2018.
The reporters, who must work for a "qualifying" regional publisher, will be responsible for local newsgathering and sharing their stories with the BBC.
To qualify, local titles must demonstrate they have a "previous track record" of public service journalism, as well as the ability to employ staff.
But the "exact nature of the reporters' duties in Northern Ireland is still under discussion", the BBC said.
In addition, the BBC will share audio and video material, after it has been transmitted, with local publishers under its NewsBank service, launching later in 2017.
It will also create a hub for data journalism, funded by the BBC with staff from local titles, with recruitment beginning in the spring.
Source: BBC report
The plans, introduced with the BBC's new charter in 2017, come as local newspapers continue to face falling print readerships and advertising revenues.
According to ABC circulation figures, covering the six months to June 2016, the majority of local titles recorded falling year-on-year sales, including the Brighton-based Argus (down 10.3%) and Manchester Evening News (down 14.1%).
Last May, the BBC and trade body the News Media Association (NMA), which represents local and national newspapers and publishers, outlined a plan to create 150 so-called "local democracy" reporters.
NMA chair Ashley Highfield said the move would "enhance democracy" in the British regions, while also keeping up "competition between different news sources".
He had previously criticised separate BBC plans to hire around 100 local reporters to work with local newspapers, outlined in 2015.
Mr Highfield had said that the scheme, where news publishers including the BBC could compete for reporting contracts, would recruit "more BBC local journalists through the back door".
In a blog post, Matthew Barraclough, the BBC's journalism working group editor, said "every part of the sector" had played a part in developing the new plans.
"I believe what we've agreed will extend the reach of BBC journalism and help support local news generally," he said.


A hospital in the Iraqi city of Falluja, mainly controlled by Islamic State (IS) fighters, has been hit by government shelling, reports say.

It comes a day after PM Haider al-Abadi ordered the Iraqi army to stop shelling civilian areas in towns seized by IS.
A member of staff was seriously injured in the shelling, medical officials at the hospital have told the BBC.
Many residents of Falluja and Ramadi have said they are more at risk from army air raids than from the jihadists.
The extremist group overran the two cities, which are both in the mainly-Sunni Anbar province, in December 2013.
IS, also often referred to as Isil or Isis, has since taken over large swathes of Iraq and Syria and declared the land it controls a "caliphate".
A medical source at Falluja hospital told BBC Arabic it was hit by four missiles launched from a military base some 5 km (3 miles) east of the city at 11:00 local time (08:00 GMT).
However, there are conflicting reports in Iraqi media over the source of the shelling.
It comes a day after Prime Minister Abadi instructed the Iraqi army to stop air strikes on residential areas under IS control, to avoid more civilian victims.
The new Iraqi leader is trying to win back the trust of the Sunni minority in Iraq, which sees itself as having been victimised under his predecessor, Nouri al-Maliki.


Maria Sharapova will make her professional comeback at the Porsche Grand Prix in Stuttgart on 26 April after her 15-month doping suspension.

The 29-year-old former world number one was given a two-year ban in March after testing positive for meldonium.
Her suspension was then reduced in October following an appeal.
The tournament in Germany starts two days before the Russian's suspension runs out and she will not be allowed to attend until the day of her match.
Sharapova, whose main sponsor is Porsche, will return to tennis without a ranking and needs a wild card to enter the tournament.
"I could not be happier to have my first match back on tour at one of my favourite tournaments," she said.
"I can't wait to see all my great fans and to be back doing what I love."
The five-time Grand Slam champion won the Stuttgart title for three years in a row from 2012 to 2014.
She last played a professional tournament at the Australian Open 12 months ago, where she failed the doping test.
Sharapova was a long-time user of meldonium and says she was unaware it had been added to the banned list at the start of 2016.
She has already taken part in two exhibition events since her ban was reduced by the Court of Arbitration for Sport.


Carlisle battled back from 3-1 down to stun Luton at Kenilworth Road.

Jack Marriott slotted in from Olly Lee's pass to give the hosts an early lead before Charlie Wyke levelled just before the break.
Josh McQuoid put the home team back in front immediately after the restart and Danny Green extended the lead with a volley from 20 yards.
Goals by subs Alex Gilliead and Jabo Ibehre got Carlisle back level before Derek Asamoah's low drive won it.
Luton boss John Still told BBC Three Counties Radio:
"I think it was the second goal, we had three defenders on the floor, well you've got no chance of defending if you're on the floor.
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"In possession we were terrific, but we've got to defend better.
"Defending's been our Achilles heel this season, I thought we'd got over that and only conceded 1 in 4.
"We've got 3 goals at home and it should be enough, but it wasn't."


The most vulnerable people in Scotland are falling into destitution because the benefits system is "simply not working", according to a charity.

Citizens Advice Scotland (CAS) called for urgent government action as it revealed a 47% increase in food bank inquiries on its services.
It said it provided advice on emergency food providers 7,400 times in 2014/15.
The UK government said the report failed to recognise that poverty in Scotland was at a record low.
A spokeswoman for the Department for Work and Pensions said it spends Â£90bn a year on working-age benefits to help the most vulnerable in society.
The food bank statistics emerged in a new report - Living at the Sharp End - in which CAS researchers investigated the root cause of the trend.
The report revealed clients often arrived at citizens' advice bureaux hungry, having not eaten for days, and with no money for essentials.
A total of 71% told researchers they cut down on food when they were faced with a gap in their income.
The report also found the service was increasingly seeing people who had exhausted all forms of government support and whose only option was to go to a food bank.
The Scottish government is set to gain control of some aspects of welfare in September.
Scottish Secretary David Mundell is expected to sign off the transfer and timetable later this week.
The report's findings included a profile of the CAS clients who sought advice about food banks. It found that:
CAS head of policy and public affairs Susan McPhee, called for urgent government action to prevent people slipping through the safety net of social security.
"When reports like this have been published in the past, the standard reaction of the UK government has been to say that there is a support network in place that prevents people falling into destitution," she said.
"Our evidence today shows beyond dispute that this is simply not the case.
"If it were, there would be no need for food banks at all, yet Scottish CABs had to give food bank advice over 7,000 times last year, and our report shows that too many Scottish families are struggling in severe poverty."
The report found changes to the benefits system, low pay, insecure work and the rising cost of living contributed to their clients' money problems.
It also discovered that benefits problems - including administrative errors and sanctions - forced people to seek crisis support.
The report makes a series of recommendations designed to increase people's resilience to "income shocks", prevent gaps in income and improve crisis assistance.
Ms McPhee said: "As our new prime minister takes office, this report makes clear that the social security system is simply not working for the most vulnerable people in our society.
"We make a number of recommendations in our report about how to improve this, and we want to work with both governments to make those changes happen.
"But it is clear that action is needed now."
The DWP said the report failed to take into account the latest statistics on poverty in Scotland.
A spokeswoman said: "Work is the best route out of poverty and since 2010 there are 140,000 more people in work in Scotland.
"We're also continuing to spend around Â£90bn a year on working-age benefits, supporting the most vulnerable in society."


A lorry driver has died and a van driver is critically ill after two crashes on the A38 near Exeter.

The 32-year-old trucker from Torquay came off the Plymouth-bound carriageway and careered into the hard shoulder of the Exeter-bound lane said police.
About an hour later 37-year-old van driver Paul Cioffi from Ivybridge collided with the back of a truck in the Exeter-bound-lane at Haldon Hill.
He has been airlifted to Derriford Hospital in Plymouth.
Police said the first crash happened at about 06:00 BST and traffic backed up from it may have led to the second crash.
Both lanes of the dual carriageway remain closed.
Click here for latest travel updates.


A mother told police signs of heroin might have been in her four-year-old daughter's system due to "passive smoking", a court has heard.

Poppy Widdison, from Grimsby, died from a cardiac arrest in June 2013.
Extracts of police interviews were read out at Hull Crown Court, in which Michala Pyke admitted taking heroin but "never" while with her daughter.
Ms Pyke, 37, of Ladysmith Road, and her ex-partner, John Rytting, 40, of Frederick Street, deny child cruelty.
In her interview, Ms Pyke told officers how she became addicted to drugs and was on a methadone programme.
David Gordon QC, prosecuting, said: "Pyke said she was taking heroin at the time Poppy died but never did that in Poppy's presence.
"She suggested that if there were signs of heroin in Poppy's system it was because of passive smoking."
She was asked if she had ever seen her ex-partner giving Poppy drugs, with Ms Pyke replying: "No, it doesn't make sense."
In his police interview, Mr Rytting also spoke of being on a methadone programme and how he took temazepam, diazepam and medication for paranoid schizophrenia.
"The small quantities of various drugs discovered at my home address are for my home use to treat myself for drug withdrawal and depression," he said in the interview.
When police asked Ms Pyke how diazepam came to be in Poppy's system she said she had "no idea", the court was told.
The court heard Mr Rytting told detectives Poppy was sleeping on a settee because they were "doing up a bedroom".
When police asked if Ms Pyke locked Poppy in, she replied the front and inner door of the house would be used as a "naughty corner", the court was told.
The prosecution claims the couple "fed" drugs to Poppy to sedate her because she got in the way of their relationship.
The trial continues.


It's a question every parent faces as they get given the glossy version on a tour of a potential secondary school.
Are you worried most about exam results, or how they help your teenager prepare for real life?
That debate has taken a whole new turn in the past year, with plans for what Prime Minister Theresa May described as "new grammars of the future".
Now, her authority diminished and damaged, that promise has little political substance.
Grammar schools get good results, from pupils already doing well academically, but does that make them a good school?
The academics at the National Centre for Social Research -  NatCen - turned to the public to probe views further, using a representative panel of people.
It's a more subtle tool than the kind of polling you might usually read about.
Grammar schools are a small part of the system in England, but the idea of them remains popular with a minority.
NatCen found 39% of people thought children should go to a different kind of secondary school according to how well they did at primary school.
It's worth bearing in mind that grammar schools rely not on end-of-primary tests, or Sats as they are called, but entrance exams for which many children are tutored.
But none the less it shows the enduring emotional appeal of the grammar brand for some.
This appears to be based on a belief from 54% of NatCen's panel that grammar schools help level the playing field some of the time.
Of course a school can only make a difference if your child gets a place.
Overall in England, grammar schools take more than half of their pupils from the wealthier half of society, according to a recent government analysis, and very few from families getting by on very low incomes.
There's a generation gap too, with older people more likely to think grammar schools have an impact on how children do academically.
Slightly more than half overall said they would support the idea of expanding grammar schools.
But Emily Tanner from NatCen points out that in many respects this still doesn't answer the question of whether people think grammar schools are good schools.
So what did they find people associate with a good school?
"One that helps prepare pupils for getting a fulfilling job, that helps develop confidence and assurance, and they put some emphasis on the social side of pupils being well behaved and presented."
Almost 80% said pupils mixing with others from different backgrounds was important.
It's not that parents don't care about exam results, they clearly do, and this research confirms that.
But they also care about their children being supported into becoming well-rounded adults.
One reason perhaps why there was overwhelming support for grammar schools to have quotas for giving places to children from poorer families who pass the academic test.
It could be the sting in the tail of the recent grammar debate.
There has been a renewed focus on who gets into grammar schools, with many looking at revising their admission policies.
Mrs May's vision for a whole new generation of selective schools may disappear into the dustbin of political history.
But with the unexpected consequence of making some of the existing grammar schools move more quickly to make sure they are more socially inclusive.


The US economy added a stronger-than-expected 255,000 jobs in July, fuelling speculation that interest rates could rise before the end of the year.

The figure was below June's upwardly revised figure of 292,000 jobs, but was far higher than analysts' forecasts of between 175,000 and 180,000.
The US unemployment rate remained unchanged at 4.9%.
Dennis de Jong from UFX.com said July's figure reveals a "strong but not spectacular US economy".
He said the number "represents more of a return to the form of the first six months of the year".
The US Fed recently signalled that it was on course to increase interest rates this year as "near-term risks" such slowing employment receded.
However, subsequent data revealed that the US economy grew at a slower pace than expected in the second quarter of the year.
The Fed's next policy meeting is due in September, but analysts think they could wait until later in the year to take any action.
Chris Williamson, chief economist at IHS Markit, said: "The steady job market improvement and keeps alive the possibility of the Fed hiking rates again this year, but worries about sluggish economic growth and deteriorating productivity, as well as uncertainty created by the presidential election, suggests that any tightening of policy will be delayed until December."
Doug Duncan, chief economist at Fannie Mae in Washington, said: "It shows the economy from a labour perspective is heading in the direction that the Fed wants. It gives the Fed some support for those looking an increase in rate by the end of year.
He added: "The Fed is still watching international development. The Bank of England made a pretty strong move this week, but the UK data so far don't suggest a strong downdraft with Brexit. A lot could still occur with European banks."
The largest growth in US employment - some 70,000 new jobs - came from professional and business sectors, in particular computing.
The healthcare industry also recruited heavily, taking on an additional 43,000 staff last month.
Mining companies recorded the biggest fall in new jobs, down by 6,000, and since reaching a peak in September 2014 employment in the sector has declined by 26%.
Average hourly pay also rose, up 0.3% between June and July, against a forecast of a 0.2% rise. In the 12 months to July, pay increased by 2.6%, which was the same annual rate of growth as in June.
Wage stagnation has been an issue closely watched by the Fed and commented on in the presidential election.
A survey by CareerBuilder and Emsi Research released on Friday, suggested that over the next five years the number of middle-income jobs created could slow down, while low and high paying jobs are added to the market.
The research found high-wage and low-wage jobs were both expected to grow by 5%, but the number of middle-income jobs was expected to rise by just 3%.
Sixty one per cent  of the occupations expected to lose jobs over the next five years are middle-income jobs.
While jobs data was lifting markets, investors also learned that the US trade deficit had widened to its largest position in 10 months.
The gap was driven by increasing oil imports and expanding orders of Chinese-made computers, mobile phones and clothing.
The Commerce Department reported that the deficit widened in June by 8.7% to $44.5bn (Â£31bn), up from the revised May figure of $41bn.
The US trade deficit drags on national growth because it means US companies are selling less overseas.


A funeral cortege bearing Nelson Mandela's body will travel through the streets of Pretoria daily on three days before his burial next Sunday, the South African government says.

It said the cortege will leave a morgue on Wednesday, Thursday and Friday morning to go to the Union Buildings where his body will lie in state.
Mourners are being encouraged to line the route.
His family has expressed gratitude for the support it had received.
Family spokesman Lt Gen Themba Templeton Matanzima said the past two days had not been easy, after losing a "great man, a pillar of the family".
"But with the support we are receiving from here and beyond, and in due time, all will be well for the family," said spokesman Lt Gen Themba Templeton Matanzima.
Vigils for the former leader have been continuing across South Africa.
Hundreds of mourners have gathered outside Mr Mandela's home in Johannesburg's northern suburb of Houghton where he died, and thousands of flowers and candles have been laid outside.
1918 Born in the Eastern Cape
1943 Joins ANC
1956 Charged with high treason, but charges dropped after a four-year trial
1962 Jailed for five years for incitement and leaving country without a passport
1964 Charged with sabotage, sentenced to life
1990 Freed from prison
1993 Wins Nobel Peace Prize
1994-99 Serves as president
2004 Retires from public life
2010 Last major public appearance at football World Cup in Johannesburg
In pictures: Mandela vigils
Remembering the man
South African papers pay tribute
Mr Mandela died on Thursday evening aged 95.
On Saturday the government published further details of the 10-day state funeral, saying as many people as possible would be given the opportunity to pay their last respects.
On Tuesday, an official memorial service will be held at the FNB Stadium on the outskirts of Johannesburg.
When the three days of lying in state are over, Mr Mandela's body will then be flown from an air force base in Pretoria to Qunu in the Eastern Cape for burial.
Qunu is where Mr Mandela grew up and later retired to.
Flags at all official buildings will fly at half mast throughout the period and books of condolence are being circulated across the country and online for people to post tributes, record memories and express their emotions.
Sunday has been designated an official day of prayer and reflection and President Jacob Zuma urged South Africans to to go to stadiums, halls, churches, temples or synagogues.
"We should, while mourning, also sing at the top of our voices, dance and do whatever we want to do, to celebrate the life of this outstanding revolutionary who kept the spirit of freedom alive and led us to a new society. Let us sing for Madiba," he said, using Mr Mandela's clan name.
A government statement recalled the former president's own thoughts when asked how he wished to be remembered.
"It would be very egotistical of me to say how I would like to be remembered," Mr Mandela said.
"I'd leave that entirely to South Africans. I would just like a simple stone on which is written, 'Mandela'."
Ahmed Kathrada, Mr Mandela's friend of 67 years and his companion in prison on Robben Island, told the BBC of his "overwhelming emotion" at seeing his old friend in hospital earlier this year.
"For 67 years I knew him as a strong man. I was shocked [to see] this strong man, a shadow of himself. That was overwhelming... so much so that I told [his wife] Mrs Machel that I don't want to see him again. I thanked her very much but I said, please, I can't bear it."
Mr Kathrada said Graca Machel had sent him a message earlier on Thursday that the former leader would die that evening.
"They were told by the doctor that he was on his very last," he said.
Watch key moments in Nelson Mandela's life
See Nelson Mandela sworn in as president
Listen to Nelson Mandela in his own words
Hear how Mandela's autobiography was smuggled out of prison
Interview: Mandela's first steps to freedom
Outlook: Mandela, my friend
More from BBC World Service
Tributes to Mr Mandela have come from leaders, celebrities and members of the public around the world.
US President Barack Obama said Mr Mandela "achieved more than could be expected of any man".
Pope Francis said Mr Mandela had forged "a new South Africa built on the firm foundations of non-violence, reconciliation and truth".
The former South African leader spent 27 years in jail before becoming the country's first black president in 1994.
He served a single term before stepping down in 1999.
Mr Mandela was awarded the Nobel Peace Prize in 1993 along with FW de Klerk, South Africa's last white president.
He suffered repeated bouts of ill health and since September had been receiving treatment at home for a recurring lung illness.


Large scale mussel farming could deter rare birds feeding on a "tranquil" river estuary with protected status, wildlife groups have warned.

Wash Mussels Ltd will create five "limited" test areas on the bed of the River Stour where 500 tonnes of mussels would be laid each year.
The RSPB is concerned about the impact of dredgers and farming on rare birds.
A public consultation runs until October.
In 2014, the company applied for a licence for a five-year trial, but objections were raised about a lack of studies on the effects on wildlife.
The RSPB is worried about an adverse effect on the tens of thousands of birds, particularly goldeneye and red breasted merganser, which use the estuary, which has European Special Protection Area status.
Mark Nowers, RSPB conservation officer, said: "Any development needs to show these important species are not affected."
Peter Scott, solicitor for Wash Mussels, said: "There will be limited operations and no equipment in situ, because there will be no ropes or nets.
"Noise from dredgers is pretty insignificant in terms of bird disturbance.
"If the trial is successful, there will be significant employment in dredging and preparing the product for market."
Mr Scott said it would not put buoys on the river or sink pots to catch crabs which feed on mussels.
The Essex and Suffolk Wildlife Trusts said they would be reviewing the company's data as part of the public consultation which runs until 7 October.
The Department for Environment, Food and Rural Affairs (Defra) said it would consider the results of the consultation before deciding whether a licence should be granted.


Two men have scaled the roof of a building at Buckingham Palace in a protest over fathers' rights.

Martin Matthews, 48, and Bobby Smith, 33, used a ladder to gain access to the Queen's Gallery, at about 15:15 GMT, a spokesman for the men said.
It is understood the Queen and Prince Philip were not at the palace.
Scotland Yard said officers were called to a report of a protest at 16:28 GMT. The incident ended more than six hours later and two men were arrested.
A Metropolitan Police spokeswoman said: "Officers attended and two males were found to have climbed on to the roof of the entrance at the location.
"At approximately 23:00hrs, the two came down from the building of their own accord."
The men sat on a roof about 18ft (5m) high at the entrance of the public art gallery, which is located on a road to the side of the main gate to Buckingham Palace.
Two police officers - one armed - stood on an adjacent roof a few feet away, while a number of others were on the road.
One of the men held a banner reading: "I'm Harry's dad. Stop the war on dads."
The protesters' spokesman said the demonstration was part of a campaign by the groups New Fathers 4 Justice and Stop The War On Dads.
They were campaigning over rights for fathers in divorce and separation proceedings and the reform of the family courts.
Two men were later arrested on suspicion of trespassing on a protected site, the Met said.


The judge in the phone hacking trial has rebuked David Cameron for commenting on the conviction of Andy Coulson before the trial ended.

The prime minister has apologised for employing former News of the World editor Coulson as his media chief.
Mr Justice Saunders said his intervention was "unsatisfactory" and set a bad example to the media.
No 10 said the PM took the "best legal advice" before he spoke: widely taken as a reference to the Attorney General.
A spokesman for Attorney General Dominic Grieve later confirmed that the PM had consulted Mr Grieve "on his statement and his letter to the court before they were delivered".
The jury has been discharged after failing to reach verdicts on outstanding charges against Coulson.
Mr Justice Saunders will hear on Monday whether the Crown Prosecution Service wishes to launch a retrial.
In other developments:
Mr Cameron appointed Coulson as his director of communications in 2007, six months after he had quit as editor when the paper's royal editor Clive Goodman was jailed for phone hacking.
Coulson maintained that he knew nothing about hacking at the paper while he was its editor but was forced to quit in 2011 after allegations about it intensified.
The prime minister is facing questions about why Coulson did not receive the same level of vetting as his predecessors when he followed Mr Cameron into Downing Street in 2010.
Mr Cameron says Coulson's vetting was handled by his top official, Sir Jeremy Heywood and the "correct procedures" had been followed.
But Labour has asked a former senior civil servant, Sir David Normington, to look at why the former tabloid editor was not given the highest level of "developed vetting".
The BBC's Robert Peston said Sir Jeremy had not given Coulson the highest security clearance when he started work at Number 10 to save money but later allowed him access to top secret material because the senior civil servant thought he was a "good egg".
Shortly after Coulson was found guilty of conspiring to hack phones on Tuesday, Mr Cameron appeared on camera in Downing Street to issue an apology for employing him.
At the time the jury had still to reach verdicts on separate charges of misconduct in public office against Coulson and Goodman.
Speaking in court, Mr Justice Saunders said the prime minister's actions had been regrettable.
"I consider that what has happened is unsatisfactory so far as justice and the rule of law are concerned.
"The press in court have been extremely responsible in their reporting of this case but when politicians regard it as open season, one cannot expect the press to remain silent."
A lawyer for Coulson said the prime minister's intervention was "ill-advised and premature" given the jury had to reach verdicts on other outstanding charges.
I know the answer to why Coulson was not given top level security vetting in 2010.
What happened was that Cabinet Secretary Sir Jeremy Heywood had decided that too many special advisers had access to the highest level of security clearance and wanted to reduce their number.
So he made a policy decision, without pressure from David Cameron, not to get Coulson cleared for access to such material. At the same time, Mr Cameron's chief of staff Ed Llewellyn was given the most vigorous degree of vetting, because of his foreign policy role.
Sir Jeremy simply felt it was inappropriate for large numbers of SPADs - as special advisers are known at Westminster - to have access to this material.
He subsequently decided Coulson was a good egg and could have access to this top secret sensitive material, even though he had not been cleared. So if anyone is going to be embarrassed by the failure to vet Coulson, and Labour's investigation into this, it will be Britain's top civil servant, Sir Jeremy Heywood.
He said No 10 had responded to the judge to make it clear that the prime minister's apology was in response to the verdict delivered in open court and was restricted to that issue.
The spokesman said there was widespread media coverage of the verdict and the prime minister had sought legal advice before issuing his statement.
Former justice secretary Ken Clarke told the BBC that the prime minister's statement was "unwise" but insisted that the trial had not been "prejudiced".
But the former Labour Lord Chancellor, Lord Falconer, said the laws on contempt of court, which are designed to guarantee fair trials, were "easily flouted" and should be reviewed.
Mr Cameron had "broken the rules", he suggested.
It is not the first time that Mr Cameron has incurred the wrath of the judiciary for making public comments during a high-profile trial.
Last year, he gave a newspaper interview during the fraud trial of two of Nigella Lawson's former assistants in which he said he was a massive fan of the TV chef and was "on team Nigella".
The judge in that case told the jury to ignore the PM's "regrettable" comments, which he said could be construed as being "favourable" to Ms Lawson and therefore prejudicial, but refused requests to halt the trial.  The two assistants were subsequently cleared of all charges.
The officer in charge of the police investigation which led to the phone-hacking trial said she hoped its outcome would provide "some comforts" to victims of intrusion.
"This investigation has never been about an attack on press freedom but one to establish whether any criminal offences had been committed," Metropolitan Police Assistant Commissioner Cressida Dick said.
"Those found not guilty have been exonerated after a thorough police investigation and fair trial. It was right that the issues were aired publicly in a court of law."
Meanwhile, in Parliament, Labour leader Ed Miliband said Coulson had "brought disgrace to Downing Street" and the prime minister had been "negligent" in hiring him.
The prime minister, he suggested, had ignored a warning from the Deputy Prime Minister Nick Clegg about Coulson and paid scant attention to media reports about Coulson's alleged knowledge of phone-hacking.
"Today we know that for four years the prime minister's handpicked, closest adviser was a criminal and brought disgrace to Downing Street," he told MPs.
"We also know that the prime minister wilfully ignored multiple warnings about him."
He insisted that questions about Coulson's suitability for the job and his own role in his appointment had all been considered by the Leveson Inquiry into press standards.
"Leveson made no criticism of my conduct in this regard whatsoever," he said. He looked into all of the issues about the warnings I was given and the response I gave and he made no criticism of my conduct."
After 18 months looking into the culture and practices of the press, including its relationship with politicians, the Leveson Inquiry recommended a new body be set up to regulate the industry, backed up by legislation.
Labour have asked the Commissioner for Public Appointments, Sir David Normington, to look at why Coulson was not given top-level vetting
Mr Cameron  told MPs that Labour was wrong to claim the vetting process would have "got to the bottom" of Coulson's past conduct as Leveson concluded that it would "not have involved a detailed investigation of phone hacking at News of the World".


Charlotte Church says she was "sickened and disgusted" by what she discovered during her legal action against News International over phone hacking.

Ms Church and her parents have agreed damages and costs of £600,000 with News Group Newspapers - publishers of the defunct News of the World.
The High Court heard the singer's phone was hacked when she was 16 years old.
The court agreed that 33 articles in the paper had been due to her family's voicemails being hacked.
The settlement includes £300,000 in legal costs and a public apology.
Speaking outside the Royal Courts of Justice in London,
 "important day" for her and her family.
"I brought this legal claim with my parents, as many others have done, because we wanted to find out the truth about what this newspaper group had done in the pursuit of stories about our family.
"What I have discovered as the litigation has gone on has sickened and disgusted me.
"Nothing was deemed off limits by those who pursued me and my family, just to make money for a multinational news corporation."
The court heard Ms Church's phone was hacked in 2002 and journalists also placed her under surveillance and gained access to her medical records.
The court heard her mother, Maria, had a complex medical history which the newspaper found out about and published private details of her hospital treatment.
The family's solicitor, Mike Brookes, told the court: "At her lowest moment, the NoW issued her with an ultimatum and coerced her into giving them an in-depth interview about her self-harming and attempted suicide.
"She felt she had no choice but to give the interview and was deeply traumatised by the publication of the story in the News of the World."
He said: "The NoW targeted Charlotte and her voicemail messages repeatedly, and in doing so unlawfully obtained her private medical information and details of her personal relationships with her family and friends.
"Even her first teenage boyfriend. They then ran stories about Charlotte using this information."
BBC legal affairs correspondent Clive Coleman said the award, the 55th of the first wave of 60 settlements, was one of the highest. Former cabinet minister Tessa Jowell was awarded £200,000, while actor Jude Law received £130,000.
He said it gave an insight into some of the things that had taken place and the deeply personal nature of the intrusion which Ms Church was clearly very, very angry about outside court.
"We got a sense of how important the process of litigation here is, the process of discovery, with Ms Church saying it has only been in the last few days that she really learned the full extent of what had been happening," our correspondent added.
Ms Church said she believed that despite an apology the paper was "not truly sorry, only sorry they got caught".
She added that "money could never mend the damage that was done," and she would use her portion of the settlement to protect her children from further invasions of privacy.
Michael Silverleaf QC, for NGN, said: "NGN acknowledges that they should never have had to endure what they have suffered and that NGN are liable for the damage that they have caused," he said.
The 26-year-old singer said she was now planning to focus on helping the criminal investigation and Lord Justice Leveson's inquiry into media ethics.
In November,
          she told the Leveson Inquiry
that her mother had attempted suicide "at least in part" because she had known the newspaper was going to publish details of her father's affair.
She told the hearing paparazzi had taken pictures up her skirt, there were photographers outside her house on most days and her manager had found evidence of a camera hidden in a shrub outside her home.
Earlier this month, the court was told that a second wave of 56 new claims was in the pipeline - including those of singer James Blunt, footballer Peter Crouch and his wife Abigail Clancy and politician Nigel Farage.
Acknowledging that the situation was changing "from minute to minute", Hugh Tomlinson QC said 14 new cases had been issued and 180 individuals had approached solicitors and were considering claims.
Metropolitan Police figures showed that there were 829 potential victims, of whom 231 were said to be uncontactable.