Finance News Update, what you need to know

Finance News Update, what you need to know

WORLD FINANCE UPDATE:

The Australian dollar has dipped on weak Chinese loan data.

At 0630 AEDT on Thursday, the Australian dollar was trading at 89.12 US cents, down from 89.22 cents on Wednesday.

And the Australian share market looks set to open higher following a strong performance on Wall Street after the World Bank said the global economy was at a turning point.

At 0645 AEDT on Thursday, the March share price index futures contract was up 24 points at 5,229.

ELSEWHERE:

WASHINGTON - Economic growth remained healthy in most US regions in late November and December, helped by gains in consumer spending and factory output, a Federal Reserve survey shows.

WASHINGTON - US producer prices rose modestly in December on higher energy costs, ending two consecutive months of declines, the Labor Department says.

BERLIN - The German economy, Europe's biggest, turned in the slowest growth for four years last year as the sluggish global economy and eurozone recession took their toll.

LISBON - Portugal's government debt agency says it plans to raise up to 13 billion euros ($A19.9 billion) from bond sales this year as the country recovers from a financial crisis that forced it to ask for a bailout.

BEIJING - China's foreign exchange reserves, already the world's largest, reached $US3.82 trillion ($A4.27 trillion) at the end of 2013, the central bank says, a new record.

LONDON - The British government will extend cap cash bonuses at the state-rescued Royal Bank of Scotland, Prime Minister David Cameron says.

NEW YORK - JPMorgan Chase said its profits fell seven per cent in the fourth quarter, hampered by more legal woes and a decline in the bank's investment banking business.

NEW YORK - Bank of America Corp says its fourth-quarter profit jumped from a year earlier, as the loans on the bank's balance sheet continued to improve.


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Source: AAP



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