Finance News Update, what you need to know


The Australian dollar is higher, boosted by recent positive economic data.


At 0630 AEDT on Thursday, the local unit was trading at 95.24 US cents, up from 95.18 cents on Wednesday.

And the Australian share market looks set to open higher following gains on international markets with sentiment buoyed by strong German and British industrial sectors data.

At 0645 AEDT on Thursday, the December share price index futures contract was up nine points at 5,427.


PARIS – Inflation in advanced countries slowed to 1.5 per cent in September from 1.7 per cent the previous month, the OECD says.

LONDON – British industrial output rebounded by more than expected in September, official data shows.

NEW YORK – Twitter is on the verge of revealing the price of its stock offering, giving the popular messaging platform a value of around $US15 billion ($A15.8 billion), media reports say.

LONDON – British defence contractor BAE Systems has announced plans to cut some 1775 jobs at three shipyards, ending the building of warships in England for the first time in hundreds of years.

JOHANNESBURG – One of the world’s biggest bullion producers AngloGold Ashanti says it has edged back into profit in the third quarter, thanks to ramped-up output and lower production costs.

RIO DE JANEIRO – Embattled Brazilian magnate Eike Batista’s OSX oil services and ship-building unit says it reached agreement with state-run Caixa Economic Federal to refinance a $US210 million ($A221.76 million) loan for another year.

FRANKFURT – German engineering giant Siemens says it is selling off parts of its water technology business to a US private equity group, AEA Investors, for 640 million euros ($A914.87 million).

NEW YORK – Wells Fargo & Co will pay $US335 million ($A353.77 million) to resolve claims that it misled Fannie Mae and Freddie Mac about risky mortgage securities that it sold them prior to the housing collapse.

NEW YORK – Time Warner says its third-quarter net income is up 44 per cent, helped by strong results at its cable networks.

MILAN – Italian tyre maker Pirelli says it will invest up to 1.6 billion euros ($A2.29 billion)

over four years to refocus its activities on the high end of the market.

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