WORLD FINANCE UPDATE:
The Australian dollar is still losing ground after the Reserve Bank of Australia gave some negative comments about the local economy.
At 0630 AEST on Wednesday, the local unit was trading at 93.36 US cents, down from 93.51 cents on Tuesday.
And the Australian share market looks set to open flat following gains on Wall Street where investors weighed continued violence in Iraq and mixed US economic data ahead of the Federal Reserve policy statement.
At 0645 AEST on Wednesday, the June share price index futures contract was down four points at 5,394.
ELSEWHERE:
WASHINGTON - The Federal Reserve should keep US monetary policy unchanged in a two-day meeting, but analysts will look for any hint on changes to the trajectory for interest rates.
WASHINGTON - US consumer prices have increased in May by the largest amount in more than a year as the cost of food and gasoline showed big gains and airline fares jumped by the largest amount in 15 years.
WASHINGTON - The pace of US home construction has slipped in May, with many Americans still struggling to afford new houses.
LONDON - Britain's 12-month inflation has slowed to 1.5 per cent, the lowest level for four and a half years.
LONDON - Deals worth billions of pounds between Britain and China have been signed as UK Prime Minister David Cameron and Chinese Premier Li Keqiang held talks in Downing Street.
SINGAPORE - Russian energy giant Gazprom has begun began trading on the Singapore stock exchange, with the company seeking to tap Asian investors following a massive gas deal with China.
SANTANDER - Spain is set to maintain economic growth of at least 0.4 per cent in the second quarter, extending its gradual recovery after a double-dip recession, the economy minister says.
COPENHAGEN - China has blocked a shipping alliance between Denmark's A.P. Moeller-Maersk, France's CMA CGM and the Swiss MSC Mediterranean Shipping Company, Maersk says.
WASHINGTON - General Motors is set to begin processing compensation claims from victims of poorly designed ignitions linked to 13 deaths, GM chief executive Mary Barra says.
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