WORLD FINANCE UPDATE:
The Australian dollar is higher, after the Chinese central bank said it would ease controls on the value of its currency.
At 0630 AEDT on Wednesday, the local unit was trading at 94.14 US cents, up from 93.91 cents on Tuesday.
And the Australian share market looks set to open lower as international markets fall.
At 0645 AEDT on Wednesday, the December share price index futures contract was down 26 points at 5,346.
ELSEWHERE:
STRASBOURG - The European Parliament approved the EU's first-ever trimmed-back long-term budget after months of acrimonious dispute between EU institutions on spending cuts for the 2014-2020 period.
FRANKFURT - A key index of optimism about the German economy has risen more than expected, underlining modestly improved prospects for Europe's recovery.
WASHINGTON - JPMorgan Chase has agreed to a $US13 billion ($A13.9 billion) deal to settle complaints over mortgages and mortgage securities by the US government and several states, the New York attorney-general says.
NEW YORK - The Bloomberg news agency says it is cutting staff as it scales back its arts and culture coverage, saying it is seeking to position itself for "significant growth".
COPENHAGEN - Denmark's biggest bank, Danske Bank, has announced 250 layoffs to meet a 1.1 billion kroner ($A213 million) cost-saving target for next year.
FRANKFURT - Germany car maker giant Daimler has been given the green light from China to acquire a 12 per cent stake in BAIC Motor, a unit of Beijing Automotive Group.
CAMDEN - Campbell Soup's first-quarter net income tumbled 30 per cent on declining US soup sales and rising costs.
HELSINKI - Finnish telecom company Nokia says its shareholders have approved the 5.44 billion euros ($A7.9 billion) sale of its mobile phone division to US multinational Microsoft.
LONDON - British no-frills airline Easyjet has announced soaring annual profits, in marked contrast to Irish rival Ryanair which recently shocked markets with another warning over its earnings.
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