WORLD FINANCE UPDATE:
The Australian dollar has started the year lower, but stubbornly remains above 89 US cents.
At 0700 AEDT on Wednesday, the local unit was trading at 89.21 US cents, down from 89.36 US cents at close on Tuesday.
The Australian stock market is closed on Wednesday for the New Year Day's public holiday.
ELSEWHERE:
WASHINGTON - US consumers turned sharply more confident about the economy and the job market in December, rebounding from a two-month downturn, The Conference Board says.
WASHINGTON - US home prices rose slightly in October, marking a continued softening in the housing market recovery, according to a report.
NEW YORK - US computer giant Hewlett-Packard will slash a total of 34,000 jobs in its huge multi-year restructuring that began last year, a regulatory filing shows.
NEW YORK - Cosmetics giant Revlon is leaving China and cutting 1,100 jobs as part of a cost-cutting measure.
ST LOUIS, Missouri - A Montana-based craft brewer is suing the world's largest beer-maker, alleging that popular YouTube videos for Bud Light violate its trademarked phrase, "Hold my beer and watch this".
NEW YORK - US company Target is getting hit with another lump of coal this Christmas season.
