WORLD FINANCE UPDATE:
The Australian dollar has dropped below 87 US cents as global economic growth concerns weigh on risk appetite.
At 0630 AEDT on Monday, the local currency was trading at 86.94 US cents, down from 87.79 cents on Friday.
And the Australian share market looks set to open lower after Wall Street tumbled with the Nasdaq dropping two per cent amid anxiety over global growth.
At 0645 AEDT on Monday, the December share price index futures contract was down 38 points at 5,120.
ELSEWHERE:
WASHINGTON - The US has expressed frustration that a number of countries aren't doing enough to boost economic growth as finance ministers from the world's largest economies express determination to prevent a slide into another global recession.
NEW YORK - Standard & Poor's has lowered its outlook for France's credit rating to "negative" from "stable", saying the country's economic picture is dimming.
CARACAS - Venezuela will ask for an emergency meeting of OPEC countries to try to halt sliding oil prices, Foreign Minister Rafael Ramirez says.
WASHINGTON - Australian Treasurer Joe Hockey says the Group of 20 economic powers remain confident about the global economy and believe Europe can rebound if needed reforms are implemented in the eurozone.
NEW YORK - Rupert Murdoch's 21st Century Fox has announced a joint venture, partnering with "Big Brother" creator Endemol to create a big new player in the TV production segment.
WELLINGTON - James Hardie Industries, the global building materials supplier, has been dragged back into the New Zealand government's class action over leaky school buildings with a cross-claim filed against the company by another defendant.
NEW YORK - The Nielsen company has admitted to errors dating back to March in its measurement of television viewing, statistics that serve as the foundation for billions of dollars in advertising spending for the entire broadcast industry.
NEW YORK - Microsoft CEO Satya Nadella has apologised and says he was wrong for saying women don't need to ask for a raise and should just trust the system to pay them well.
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