WORLD FINANCE UPDATE:
The Australian dollar is up two US cents following weak economic data out of the US in the lead-up to the Federal Reserve meeting this week.
At 0630 AEST on Wednesday, the local currency was trading at 80.23 US cents, up from 78.73 cents on Tuesday.
And the Australian share market looks set to open higher after Wall Street finished mostly higher.
At 0645 AEST on Wednesday, the June share price index futures contract was up 12 points at 5,938.
ELSEWHERE:
LONDON - Britain's economic recovery slowed sharply at the start of the year according to official figures that have delivered a pre-election blow to the coalition government nine days ahead of a general election.
LONDON - British Prime Minister David Cameron has warned voters not to take the country's economic recovery for granted when they go to the polls on May 7 as the latest official figures showed the pace of growth slowing.
WASHINGTON - US consumers grew decidedly less confident about the economy in April, seeing little to suggest growth will pick up in the coming months, the Conference Board says.
WASHINGTON - US home prices gathered momentum in February, according to the latest S&P/Case-Shiller report.
NEW YORK - Pharmaceuticals giant Merck & Co. has easily beaten Wall Street expectations despite first-quarter profit plunging 44 per cent.
NEW YORK - Pfizer Inc has reported a first-quarter profit of $US2.38 billion ($A3.03 billion).
DEARBORN, Michigan - Ford's net income fell in the first quarter, hurt by lower sales of key vehicles and a stronger US dollar, the US carmaker says.
MADRID - Spain's Santander, the eurozone's biggest bank, says its first quarter net profit has jumped 32 per cent as strengthening economic recovery in its home market boosted revenue.
HONG KONG - Asia-focused British bank Standard Chartered says its first-quarter profit fell more than 20 per cent year-on-year, missing analysts' expectations.
ATLANTA - UPS says its first-quarter earnings rose 14 per cent to $US1.03 billion ($A1.31 billion), as price increases helped offset the effect of the strong US dollar on overseas revenue.
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