Finance News Update, what you need to know

Finance News Update, what you need to know

WORLD FINANCE UPDATE:

The Australian dollar has bounced a little after hitting a two-month low following the shock rise in the unemployment rate.

At 0630 AEST on Friday, the local unit was trading at 92.75 US cents, up from 92.66 cents on Thursday.

And the Australian share market looks set to open lower after falls on US and European bourses amid escalating tensions between the West and Russia, and talk of possible military action by the US.

ELSEWHERE:

WASHINGTON - US consumers expanded their borrowing at a slower rate in June compared to the prior month.

WASHINGTON - Another fall in US weekly unemployment claims shows a tightening jobs market, analysts say.

FRANKFURT - The European Central Bank has held its key interest rates unchanged at its regular policy meeting, two months after easing monetary conditions in the 18-country euro area.

FRANKFURT - The eurozone recovery could be faltering already, with downside risks arising from the latest geopolitical developments, European Central Bank president Mario Draghi says.

LONDON - The Bank of England has opted to keep its main interest rate at a record-low level of 0.50 per cent.

PARIS - France's trade deficit widened in June, bringing the first-half total to nearly 30 billion euros and adding to concerns about stalling growth in the eurozone's second-largest economy.

VILNIUS - The European Union may turn to the World Trade Organisation over Moscow's ban on its food and agricultural products amid the Ukraine crisis, the EU's ambassador to Russia says.

LISBON - Lisbon will cut its bailout for stricken Portuguese lender Banco Espirito Santo to 3.9 billion euros ($A5.85 billion) thanks to contributions from the financial sector, Finance Minister Maria Luis Albuquerque says.

SYDNEY - News Corporation's full year profit has been more than halved as revenue from its Australian newspapers continues to slide.

WASHINGTON - Mortgage giant Freddie Mac posted net income of $US1.4 billion ($A1.5 billion) for the April-through-June period, aided by a strengthening housing market.

NEW YORK - Facebook is buying California-based cyber security startup PrivateCore, in a move to boost defences of its vast server network.


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