WORLD FINANCE UPDATE:
A spike in global oil prices has propelled the Australian dollar higher.
At 0700 AEST on Wednesday, the local unit was trading at 77.49 US cents, up from 77.00 cents on Tuesday.
And the Australian share market looks set to open higher after the S&P 500 ticked up, buoyed by gains in the energy and materials sectors as soft economic data weakened the US dollar, giving support to oil and gold prices.
At 0645 AEST on Wednesday, the share price index was up 21 points at 5,216.
ELSEWHERE:
NEW YORK, April 26 AP - Low oil prices have helped cost Exxon its pristine AAA credit rating from Standard & Poor's, a label it held for over six decades.
LITTLE ROCK, Arkansas, April 26 AP - The Chinese company Sun Paper has announced plans for a $US1 billion ($A1.30 billion) bio-products mill in southern Arkansas, the paper company's first facility in North America.
NEW YORK, April 26 Reuters - The New York Times Co says it will close its editing and pre-press print production operations in Paris, resulting in the elimination or relocation of up to 70 jobs as it moves to cut costs at its international newspaper.
SAN FRANCISCO, April 26 AP - Apple says quarterly revenue fell for the first time in more than a decade, as iPhone sales fell compared with a year ago.
NEW YORK, April 26 Reuters - Twitter Inc has reported quarterly revenue at the lower end of its forecast as spending by advertisers declined.
MILAN, April 26 AP - Carmaker Fiat Chrysler Automobiles says its first-quarter earnings soared on the back of a strong performance in North America.
NEW YORK, April 26 AP - Procter & Gamble's fiscal third-quarter results were mixed, as earnings rose even though sales fell on weakness in categories such as grooming and beauty and a strong US dollar.
WASHINGTON, April 26 AP - US consumers were feeling a little less confident in April, even though the stock market was rebounding from its February lows.
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