WORLD FINANCE UPDATE:
The Australian dollar is firmer as oil prices recover from five-year lows.
At 0630 AEDT on Wednesday, the local currency was trading at 83.10 US cents, up from 82.39 cents on Tuesday.
And the Australian share market looks set to open lower following Wall Street down as global stocks fall on concern over growth in China and potential political fallout in Greece.
At 0645 AEST on Wednesday, the December share price index futures contract was down points at 5,371.
ELSEWHERE:
ATHENS - Greek stocks have seen their biggest one-day drop in nearly three decades after the government unexpectedly brought forward a high-stakes presidential vote.
LONDON - Europe's main stock markets have closed down sharply on fresh political uncertainty in Greece, with London's benchmark FTSE 100 falling 2.14 per cent to 6,529.47 points.
BUENOS AIRES - Argentine stocks have fallen 7.44 per cent in afternoon trading, dragged down by falling oil prices that hit new five-year lows.
MOSCOW - The World Bank has announced a gloomier economic forecast for Russia as the rouble fell despite the central bank saying it had spent billions last week to prop it up.
TOKYO - Fitch Ratings has placed Japan's sovereign credit on Rating Watch Negative, warning that the delay in raising consumption tax would put the government's objective of reducing the national debt at risk.
MADRID - A judge has banned the popular US mobile phone-based taxi service Uber from operating in Spain, following similar attempted moves in several other countries.
NEW YORK - Citigroup plans to take a $US3.5 billion ($A3.79 billion) charge in the fourth quarter to cover legal and restructuring costs, chief executive Michael Corbat says.
RIO DE JANEIRO - Brazilian mining giant Vale, the world's largest ore producer, has agreed to sell part of its stake in a Mozambican coal mine to Japanese trading house Mitsui for $US763 million ($A825 million).
NEW ALBANY, Ohio - Abercrombie & Fitch's longtime CEO Michael Jeffries is retiring, effective immediately, as the once-hip teen clothing chain's sales decline.
FRANKFURT - BMW says CEO Norbert Reithofer will leave his post early to become chairman of the board as part of "generational change".
SEOUL - A top executive of Korean Air Lines has resigned amid mounting public criticism after she delayed a plane over how she was served macadamia nuts.
SAN FRANCISCO - Amazon says it will allow online haggling between buyers and sellers for some items sold by third parties using the US online retail giant.
Share
