WORLD FINANCE UPDATE:
The Australian dollar is slightly higher as the market's mood bounces back from last week's heavy falls.
At 0630 AEDT on Monday, the local unit was trading at 87.53 US cents, up from 87.47 cents on Friday.
And the Australian share market looks set to open solidly higher after international markets returned to positive territory following heavy losses earlier in last week.
At 0645 AEDT on Monday, the December share price index futures contract was up 68 points at 5,305.
ELSEWHERE:
WASHINGTON - US Federal Reserve chief Janet Yellen says she is greatly concerned over the widening gap between the rich and poor in the United States.
PARIS - Ratings agency Moody's has downgraded Russia's credit rating to Baa2 from Baa1 citing poor growth prospects, the Ukraine crisis and sanctions as well as capital flight.
KUALA LUMPUR - The International Atomic Energy Agency (IAEA) has given a passing safety grade to a controversial Malaysia rare earths plant, but raised concerns that there was no long-term plan for properly disposing of the plant's potentially radioactive waste.
LAS VEGAS - Caesars Entertainment says it is prepared to start formal discussions with some of its bank lenders as it works to stave off what some see as near certain bankruptcy.
NEW YORK - Investment bank Morgan Stanley says its third-quarter income nearly doubled from a year earlier, helped by strength in its institutional securities and wealth management divisions.
RIYADH - Shares in National Commercial Bank have gone on sale in Saudi Arabia's largest-ever initial public offering, which at $US6 billion ($A6.49 billion) is also one of the biggest in the world in 014.
NEW YORK - General Electric's third quarter profit rose 11 per cent on strong performance from its aviation and oil and gas divisions.
BEIJING - Volkswagen's Chinese joint venture will recall more than 500,000 cars in China due to a defect in the rear axles, state media says.
PARIS - The world leader in servicing oil industry installations, Schlumberger, has surprised the markets with a record performance in the third quarter despite sanctions against oil giant Russia.
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