Finance News Update, what you need to know

Finance News Update, what you need to know

WORLD FINANCE UPDATE:

The Australian dollar is again weaker, a day after slumping to a six-year low on the back of Greece's rejection of further austerity conditions on a bailout.

At 0630 AEST on Tuesday, the local unit was trading at 74.98 US cents, down from 75.11 cents on Monday.

And the Australian share market looks set to open higher despite falls on international markets after Greeks voted `No' in the referendum on further austerity measures, raising the possibility the country may exit the eurozone.

At 0645 AEST on Tuesday, the September share price index futures contract was up 21 points at 5,453.

ELSEWHERE:

ATHENS - Greek banks will remain closed until Wednesday with limits on daily withdrawals unchanged, officials have said as the European Central Bank maintained its liquidity assistance to the nation's beleaguered lenders.

WASHINGTON - International Monetary Fund chief Christine Lagarde says the global crisis lender will assist Greece if asked, a day after Greek voters rejected a prior bailout plan.

PARIS - Germany and France have called on Greece to make detailed proposals to revive bailout talks, a day after Greek voters defiantly rejected creditors' demands for further austerity.

ATHENS - Germany has dismissed Greece's bid to clinch a quick new debt deal after the country delivered a resounding 'No' to more austerity, appearing little moved by the surprise resignation of the Greek finance minister.

LONDON - Britain has warned travellers to Greece that the situation there could "deteriorate rapidly" if no new debt deal is reached soon, instructing tourists to take medical supplies in case of shortages.

WASHINGTON - US service firms grew at a slightly faster pace in June, as business activity and new orders increased.

NEW YORK - American Apparel is to close some stores and cut jobs as it fights slumping sales.

NEW YORK - US aerospace giant Boeing delivered 381 commercial aircraft in the first half of 2015, keeping it on track for a new annual record.

NEW YORK - Israeli pharmaceutical giant Teva plans to increase its bid for rival Mylan and could announce the move as soon as this week, according to a US media report.


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Source: AAP



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