WORLD FINANCE UPDATE:
The Australian dollar has lost steam after hitting a six-week high as the Reserve Bank reaffirmed it's neutral stance.
At 0700 AEST on Wednesday, the local unit was trading at 74.50 US cents, down from 74.83 cents on Tuesday.
The Australian share market looks set to open higher, after a stronger close by Wall Street following optimistic comments by Federal Reserve Chair Janet Yellen about the US economy.
At 0700 AEST on Wednesday, the share price index was up 15 points at 5,230.
ELSEWHERE:
WASHINGTON - Global risks and a US hiring slowdown warrant a cautious approach to raising interest rates as the Federal Reserve looks for confirmation that the country's economic recovery remains on track, Fed Chair Janet Yellen has said.
LONDON - With two days to go until a referendum on EU membership that will shape the future of the European Union and the West, polls and surveys indicate British opinion is so divided that the outcome is too close to call.
PARIS - Ryanair boss Michael O'Leary is warning of a two to three-year economic downturn if Britain votes to leave the European Union.
NEW YORK - Wal-Mart Stores Inc has sold its Chinese online grocery store in return for a stake in the country's No. 2 e-commerce firm.
FRANKFURT - Germany's financial watchdog wants prosecutors to investigate Volkswagen's entire former management board over the time it took to disclose the carmaker's emissions test cheating.
ATHENS - Greece has got more than 7 billion euros ($A11 billion) in bailout funds after a review of the country's progress in implementing economic reforms, the head of the euro zone's bailout fund told reporters in Athens.
DUBAI - Boeing Co says it has signed an agreement with Iran Air "expressing the airline's intent" to buy its aircraft, setting up the biggest business deal between the Islamic Republic and America since the 1979 US Embassy takeover in Tehran.
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