Finance news update, what you need to know

(Australian Associated Press)

WORLD FINANCE UPDATE:

The Australian market looks set to open higher after Wall Street made solid gains overnight.

At 0730 AEDT on Wednesday, the share price futures index was up 15 points, or 0.25 per cent, at 5,898.

Meanwhile, the Australian dollar is lower, as the greenback surges against most of the major currencies.

The local currency was trading at 77.79 US cents at 0730 AEDT on Wednesday, from 78.11 on Tuesday.
ELSEWHERE:

BRUSSELS: EU Brexit negotiator Michel Barnier has told Britain it must accept the full economic and legal status quo in a transition period after Brexit has been finalised.

NEW YORK: Caterpillar’s third-quarter profit has surged on demand for construction equipment, topping Wall Street expectations.

DETRIOT: General Motors has posted stronger-than-expected pre-tax profit for the third quarter before charges related to the sale of its European operations, and shares jumped as GM reaffirmed its full-year earnings outlook and a promise to slash stocks of unsold vehicles.

NEW YORK: McDonald’s has reported higher sales in the US on the back of cheaper sodas and a two for $US5 promotion, raising third quarter net income to $US1.88 billion

GENEVA: Airline traffic will nearly double to 7.8 billion passengers in the next two decades, up from 4 billion this year, the International Air Transport Association says in a new estimate.

0

Like This