Finance News Update, what you need to know

Finance News Update, what you need to know

WORLD FINANCE UPDATE:

The Australian dollar has recovered some of its losses on last week's weaker-than-expected jobs figures and downbeat economic update from the central bank.

At 0630 AEST on Monday, the local currency was trading at 92.79 US cents, up from 92.58 cents on Friday.

And the Australian share market looks set to follow Wall Street's lead and open higher despite the US ordering air strikes and food and water drops in northern Iraq.

At 0645 AEST on Monday, the September share price index futures contract was up 37 points at 5,413.

ELSEWHERE:

BEIJING - China's annual inflation rose 2.3 per cent in July, official data says, remaining stable from the previous month's result.

BEIJING - China says its Anti-Monopoly Law does not discriminate between foreign and domestic companies, as big name overseas enterprises have come under a series of high-profile investigations.

WASHINGTON - The International Monetary Fund says it is ready to aid Ghana after the country formally requested assistance to surmount fiscal and economic challenges.

PARIS - ArcelorMittal has halted work to expand its iron ore mines in Liberia after staff were evacuated due to concerns about the Ebola epidemic ravaging the country.

MOSCOW - Car sales plunged by nearly 23 per cent last month in Russia and are down by nearly a tenth for the year to date, the Association of European Businesses said on Friday.

NEW DELHI - India's top crime fighting body is investigating a $US155 million ($A167.70 million) loan by a state-run bank to debt-ridden Kingfisher Airlines.

NEW YORK - A US judge has denied a motion by General Motors to dismiss a wrongful death case against the automaker and set a trial date for April 2016.

ROME - Gulf airline Etihad Airways has signed a deal to take a 49 per cent stake in Italy's Alitalia airline and invest 560 million euros ($A811 million) to save the loss-making national carrier, restructure it and return it to profitability.

NEW YORK - McDonald's says its global sales fell 2.5 per cent in July, dragged down by persistent weakness in the US and a food safety scandal in China.

NOUMEA - New Caledonia has cancelled a deal with Brazilian mining giant Vale and France's Eramet to allow the exploration of one of the last major untapped nickel deposits in the world.

OTTAWA - A mission to map the seabed surrounding the North Pole began on Friday amid Canada's push to claim the area and surrounding Arctic waters before Russia and others.


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