WORLD FINANCE UPDATE:
The Australian dollar has slipped to a six-year low after disappointing manufacturing data from the world's top two economies shook market confidence.
At 0630 AEST on Wednesday, the currency was trading at 70.24 US cents, down from 71.08 cents on Tuesday.
And Australian shares look set to open sharply lower after international markets tumbled following China manufacturing data which gave further indications that the world's second-largest economy is slowing.
At 0645 AEST on Wednesday, the September share price index futures contract was down 67 points at 4,991.
ELSEWHERE:
SHANGHAI - China is urging listed companies to merge and restructure, according to an official statement, as the government seeks to avert a stock rout and encourage investors to return to the market.
BEIJING - Further signs of slowing in the world's second-biggest economy has sent shudders through global markets, adding to the worldwide sense of crisis over China's financial management.
NEW YORK - World oil prices have tumbled as poor manufacturing data in China, the world's largest energy consumer, hammered the outlook for demand and shook market confidence.
JAKARTA - Global economic growth is likely to be weaker than earlier expected and will remain at moderate levels, the head of the International Monetary Fund says.
WASHINGTON - US manufacturing activity slowed in August with growth in new orders, output and hiring all down, the Institute for Supply Management says.
WASHINGTON - US construction spending in July climbed to its highest level in more than seven years, boosted by an increase in the building of houses, factories and power plants.
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