WORLD FINANCE UPDATE:
The Australian dollar extended its gains following data that showed investment intentions for the coming financial year are still strong.
At 0700 AEST on Friday, the local unit was trading at 93.08 US cents, up from 92.84 cents on Thursday.
And the share market is set to open higher after Wall Street stocks closed at a record high.
At 0719 AEST on Friday, Australia's March share price index futures contract was 10 points higher at 5,541.
ELSEWHERE:
WASHINGTON - The US economy was battered even more than first suspected by the harsh winter, shrinking 0.1 per cent from January through March, marking the first retreat in three years, but economists are confident the downturn was temporary.
WASHINGTON - The number of contracts signed to purchase homes in the US is on the rise, with more Americans sealing a deal in April than the prior month.
WASHINGTON - The number of Americans seeking unemployment benefits fell last week to nearly the lowest level in seven years, a sign that hiring may be picking up.
ASTANA, Kazakhstan - Russian President Vladimir Putin has signed a deal creating an economic union with Belarus and Kazakhstan, with Ukraine conspicuously absent after it turned its back on Moscow.
NEW YORK - US meat giant Tyson Foods has announced a $US6.8 billion ($A7.3 billion) proposal to acquire frozen-foods and prepared meats company Hillshire Brands, entering a complex takeover battle that now involves four companies.
MUMBAI - India's giant Tata Motors has reported a marginal fall in its quarterly net profit as sales from British luxury subsidiary Jaguar Land Rover were not enough to offset falling local deals.
WASHINGTON - The US is seeking more than $US10 billion ($A11 billion) from French bank BNP Paribas to settle charges it violated US sanctions on Iran, Sudan and Cuba, the Wall Street Journal has reported.
FRIDLEY, Minnesota - Medical device maker Medtronic Inc. will pay the US Department of Justice $US9.9 million ($A10.71 million) to settle a lawsuit that accused the company of giving doctors gifts in return for using its defibrillators and pacemakers.
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