WORLD FINANCE UPDATE:
The Australian dollar is lower as traders start to see the US Federal Reserve's decision not to raise its interest rate as a negative.
At 0630 AEST on Monday, the local unit was trading at 71.81 US cents, down from 72.28 cents on Friday.
And the Australian share market looks set to open lower after US and European stocks fell following the Federal Reserve's decision not to lift its benchmark interest rate.
At 0645 AEST on Monday, the September share price index futures contract was down 76 points at 5,072.
ELSEWHERE:
WASHINGTON - Moody's has cut France's sovereign debt rating one notch to Aa2, saying the country will struggle with slow growth and a high debt burden for the next five years.
NEW YORK - The US tax authority has told Coca-Cola it owes $US3.3 billion ($A4.6 billion) in taxes from 2007-2009, but the soft drink giant is fighting the huge bill.
WASHINGTON - German luxury carmaker Mercedes-Benz is to invest $US1.3 billion ($A1.8 billion) to expand and upgrade SUV production at its Alabama plant.
NEW YORK - US regulators say Volkswagen manufactured cars designed to evade government pollution controls, and that the German company should fix nearly 500,000 vehicles with the defect.
DETROIT - US auto workers have won their first raise in a decade in a deal with Fiat Chrysler's US subsidiary that will be used as a template for talks with General Motors and Ford, their union says.
BEIJING - Chinese President Xi Jinping has told Rupert Murdoch that Western media organisations are "welcome" in China, despite the continued blocking of many foreign websites for their reporting on the country.
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