WORLD FINANCE UPDATE:
The Australian dollar is weaker as the worst Chinese industrial production reading in six months hits commodity prices.
At 0630 AEDT on Wednesday, the local currency was trading at 82.13 US cents, down from 82.31 cents on Tuesday.
And the Australian share market looks set to open higher after European bourses moved sharply higher while Wall Street stocks fluctuated ahead of the Federal Reserve's two-day meeting.
At 0645 AEDT on Wednesday, the December share price index futures contract was up 26 points at 5,180.
ELSEWHERE:
MOSCOW - The Russian currency crashed to unprecedented lows on Tuesday as it fell to 80 roubles to the dollar and 100 to the euro, testing Vladimir Putin's ability to ride out both the economic storm and his clash with the West.
MOSCOW - The Russian government is not considering strict capital control measures to limit purchases of foreign currency, economy minister Alexei Ulyukayev says, following an emergency meeting over the rapidly sliding rouble.
MOSCOW - Dark times call for dark humour, especially in Russia, where wags are saying the rouble has now fallen below the psychologically important threshold of "I no longer give a damn".
WASHINGTON - New construction of US homes fell in November, but that was offset by a sharp upward revision of October's starts, according to official data.
LONDON - Britain's annual inflation rate slid to a 12-year low of 1.0 per cent in November, driven down by tumbling oil prices, official data shows.
LONDON - Britain's four biggest lenders have passed the Bank of England's stress tests, which are designed to show their ability to withstand a new economic crisis, the central bank says.
BEIJING - China has raised its official estimate of last year's gross domestic product, possibly moving closer to passing the US as the biggest economy.
SAN FRANCISCO - A US jury has found in Apple's favour in a $US350 million ($A378.69 million) lawsuit that accused the tech giant of illegally forcing iPod users to purchase their music on its iTunes service.
NEW YORK - French industrial giant Alstom has agreed to pay $US700 million ($A757.37 million) to settle US corruption charges related to bribes in Indonesia and other countries, a person familiar with the matter says.
MADRID - Spanish oil giant Repsol has agreed to buy its struggling Canadian rival Talisman for $US8.3 billion ($A8.9 billion), a deal that will extend its global reach.
MADRID - US giant Google has shut down its popular online news service in Spain in protest at a new law which would make it pay for content.
BRUSSELS - Belgian authorities have ordered an investigation into the tax affairs of web-based taxi app Uber in the latest legal challenge the fast-growing company faces around the world amid fierce resistance from cab drivers.
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