Finance News Update, what you need to know

Finance News Update, what you need to know

WORLD FINANCE UPDATE:

The Australian dollar has faltered as the greenback climbs higher and commodities continue to slide.

At 0630 AEDT on Thursday, the currency was trading at 70.91 US cents, down from 71.01 cents on Wednesday.

And the Australian share market looks set to open high after Wall Street gained ahead of the release of the Federal Reserve's October policy meeting.

At 0645 AEDT on Thursday, the December share price index futures contract was up 44 points at 5,5175.

ELSEWHERE:

WASHINGTON - A solid core of Federal Reserve officials rallied behind a possible December rate hike at the central bank's last policy meeting, but central bankers also debated evidence the US economy's long-term potential may have permanently shifted lower.

WASHINGTON - New construction of US homes slowed in October, led by a plunge in the multi-unit sector, but a jump in building permits pointed to a potential rebound in coming months.

LONDON - Britain wants to close all of its coal-fired power plants by 2025 and lower their output from 2023, the government says, making it the first major economy to put a date on shutting down polluting coal plants to curb carbon emissions.

NEW YORK - Barclays Plc will pay an additional $US150 million ($A210.70 million) to New York State's financial regulator to resolve allegations that it rigged foreign exchange trading by putting the bank's interests ahead of clients'.

MILAN - An Italian appellate court is allowing a class-action suit against Fiat Chrysler Automobiles that alleges it misled buyers on the amount of fuel consumed by its Panda city car.

PARIS - France's competition authority has forced German sportswear company Adidas to drop a clause banning its resellers from using online trading platforms.

JOHANNESBURG - South Africa's state-owned airline SAA has removed its acting chief executive as the troubled carrier wrestles with management turbulence and criticism from pilots while planning a controversial renegotiation of an Airbus deal.


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Source: AAP



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