Finance News Update, what you need to know

04-Finance News Update what you need to know

(Australian Associated Press)


The Australian dollar is marginally weaker against the greenback despite encouraging sentiment from the Reserve Bank.

At 0630 AEDT on Wednesday, the currency was trading at 72.65 US cents, down slightly from 72.69 cents on Tuesday.

And the Australian share market looks set to open lower following falls in US and European stocks as investors continue to fret over the broader global impact of China’s economic slowdown.

At 0645 AEDT on Wednesday, the December share price index futures contract was down seven points at 5,206.


LONDON – The People’s Bank of China has launched a yuan-denominated bond in London for the first time as it seeks to internationalise its currency.

WASHINGTON – Most US states have reported jobs losses in September as slowing growth has weighed on hiring nationwide in the past two months.

WASHINGTON – US housing starts surged in September after falling for two months, but a drop in building permits suggested slower future growth, according to the latest official data.

LONDON – India’s Tata Steel says it will cut about 1200 jobs at two plants in Britain, blaming the move in part on cheap imports from China.

NEW YORK – Yum Brands, the owner of KFC, Pizza Hut and Taco Bell, has announced it is splitting off its China business into a separate company.

ROME – Ferrari is making its stock market debut on Wall Street, with owner Fiat Chrysler hopeful the luxury sports car maker will roar off the starting grid.

PARIS – China has agreed to take a one-third stake in French power giant EDF’s 34-billion-euro next-generation nuclear project at Hinkley Point in Britain, French business daily Les Echos says.


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