WORLD FINANCE UPDATE:
The Australian dollar has moved little overnight, despite US Federal Reserve chair Janet Yellen's testimony to Congress.
At 0630 AEST on Wednesday, the local currency was trading at 93.72 US cents, up from 93.69 cents on Tuesday.
And the Australian share market looks set to open higher despite Wall Street closing mostly lower after the Federal Reserve warned that some technology stocks appear to be overvalued.
At 0645 AEST on Wednesday, the September share price index futures contract was up six points at 5,467.
ELSEWHERE:
WASHINGTON - US retail sales have risen only slightly in June on weaker sales in automobiles and building materials, the government says in a report that still shows momentum in consumer spending.
WASHINGTON - The Federal Reserve could raise its interest rate sooner than expected as the jobs market improves, Fed Chair Janet Yellen says, adding the Fed is closely watching for risks.
FRANKFURT - Europe's biggest economy Germany could already be running out of steam, data shows, and economists say the country's World Cup win is unlikely to provide any fresh momentum.
FORTALEZA - Leaders of the BRICS group of emerging powers have gathered in Brazil to launch a new development bank and a reserve fund seen as counterweights to Western-led financial institutions.
NEW YORK - US tobacco giant Reynolds American will acquire rival Lorillard to create a behemoth aimed at conquering the growing e-cigarette market.
NEW YORK - JPMorgan Chase, the US' largest bank by assets, says its second-quarter earnings fell 9 per cent as revenue at its investment banking and mortgage businesses dropped.
NEW YORK - Goldman Sachs says its quarterly profit rose five per cent, helped by record results from investment banking.
NEW YORK - Strong sales of several new drugs, particularly its hot new hepatitis medicine, have lifted Johnson & Johnson's second-quarter profit by 13 per cent, topping analysts' expectations.
FARNBOROUGH, UK - US aircraft maker Boeing says it has won a number of orders for its passenger planes from American leasing companies potentially worth a total of about $US10.0 billion ($A10.82 billion).
NEW YORK - Microsoft is expected to overtake Yahoo for the first time in digital advertising revenues, a research firm says.
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