WORLD FINANCE UPDATE:
The Australian dollar has gathered steam as commodities rebound and the greenback weakens.
At 0700 AEDT on Friday, the local unit was trading at 70.78 US cents, up from 70.40 cents on Thursday.
And the Australian share market looks set to open higher following gains on Wall Street amid a surge in world oil prices.
At 0645 AEDT on Friday, the share price futures index was up three points at 4,928.
ELSEWHERE:
WASHINGTON - The number of people seeking unemployment benefits in the US fell last week, a sign that employers aren't cutting jobs in response to global economic weakness and sharp stock market drops.
WASHINGTON - Orders to US factories for long-lasting manufactured goods tumbled in December, with a key category that tracks business investment plans falling for a second straight month.
ST PETERSBURG - Russia says that OPEC kingpin Saudi Arabia had proposed global oil production cuts of up to five per cent in what would be the first universal deal in over a decade to help clear a glut of crude and prop up sinking prices.
BRUSSELS - The European Commission has weighed into the row about multinational corporations avoiding tax, proposing to clamp down on companies shifting their profits to low-tax countries.
LONDON - European Union anti-trust regulators say they will examine a complaint from the Scottish National Party (SNP) about internet group Google's back-tax deal with British tax authorities.
LONDON - Britain is postponing a planned sale of shares in bailed-out Lloyds Banking Group due to turmoil in global financial markets, disappointing thousands of small investors hoping to benefit from a discounted sell-off.
BRUSSELS - Anheuser-Busch InBev says it has cancelled $US42.5 billion ($A60.33 billion) of a record $US75 billion senior acquisition loan after raising a hugely successful bond which was used to repay part of the loan.
DEARBORN, Michigan - Improving sales in most of the world helped Ford Motor Co. achieve a record pre-tax profit in 2015, and the company says the numbers could go even higher this year.
GENEVA - Pharmaceuticals company Roche says a strong Swiss franc weighed on its earnings last year and contributed to a 5-per-cent drop in net income, which fell short of analysts' estimates.
STOCKHOLM - Swedish home appliance maker Electrolux has posted a 393 million kronor ($A65.44 million) fourth quarter loss after it failed in its bid for General Electric's appliance business.
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