WORLD FINANCE UPDATE:
The Australian dollar has bounced as the greenback continues to be weighed down by weak economic data.
At 0630 AEST on Tuesday, the local currency was trading at 94.31 US cents, up from 94.02 cents on Monday.
And the Australian share market looks set to open higher despite a mixed performance on Wall Street following a jump in US pending home sales and General Motors' announcement of another massive car recall.
At 0645 AEST on Tuesday, the September share price index futures contract was up 12 points at 5,466.
ELSEWHERE:
BRUSSELS - Inflation across the 18-nation eurozone was steady in June at 0.5 per cent, but remains far below target against a background of concern about deflation, official data shows.
WASHINGTON - US pending home sales surged higher in May, registering the highest month-on-month gain in four years, the National Association of Realtors says.
SHANGHAI - Housing prices in major Chinese cities have fallen for a second consecutive month in June, an independent survey shows, providing more evidence of a deflating property bubble.
NEW YORK - General Motors has announced another massive auto recall, calling back 8.4 million vehicles - 7.6 million of them in the US - following seven crashes and three fatalities.
WASHINGTON - General Motors says it will pay at least $US1 million ($A1.08 million) in compensation to the families of each person killed in accidents apparently caused by defective ignition switches in its cars.
NEW YORK - US industrial coatings company PPG says it is acquiring Mexican coatings maker Comex for $US2.3 billion ($A2.49 billion) as it seeks to expand in Mexico and Central America.
GENEVA - Switzerland-based petrochemical firm Ineos says it had bought out BASF, the world's biggest chemicals group, from their joint venture Styrolution, which produces the styrene used to make plastics, for about $US1.5 billion ($A1.62 billion).
NEW YORK - Devon Energy will sell assets in Texas and other sites to the smaller Linn Energy for $US2.3 billion ($A2.49 billion) as US independents reshuffle properties amid the shale boom.
PARIS - Investment in emerging markets is expected to slump this year as part of a global downturn in corporate spending that is set to last into 2015, according to Standard & Poor's.
SOFIA - Bulgaria is scrambling to reassure savers its beleaguered banking system is "functioning normally" after Brussels extended a credit line to stop a run on two banks turning into a full-blown crisis.
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