Finance News Update, what you need to know

Finance News Update, what you need to know

WORLD FINANCE UPDATE:

The Australian dollar is slightly higher after disappointing US employment figures eased speculation of an interest rate rise by the Federal Reserve.

At 0630 AEST on Tuesday, the local unit was trading at 76.01 US cents, up from 75.93 cents on Thursday, before the Easter long weekend.

And the Australian share market looks set to open slightly lower despite strong gains on Wall Street on easing concerns about Federal Reserve interest rate rise and as oil-linked equities surge on higher crude prices.

At 0645 AEDT on Tuesday, the June share price index futures contract was down nine points at 5,877.

ELSEWHERE:

WASHINGTON - Greece has confirmed it will make a 460 million euro ($A660 million) debt payment to the International Monetary Fund this week as it seeks to allay concerns over the country's solvency.

KIEV - Crisis-hit Ukraine's annual inflation rate hit 45.8 per cent after a sharp acceleration of 10.8 per cent in March, the country's statistics office says.

NICOSIA - Cyprus has signalled a return to financial normality in scrapping capital controls two years after they were imposed to halt a banking meltdown, the finance ministry says.

WASHINGTON - US service firms expanded at a slightly slower yet still healthy pace in March, an encouraging sign after multiple reports last week pointed to a slowing economy.

DUBAI - The Islamic finance system faces several key challenges if it is to unlock its huge potential and develop safely, the International Monetary Fund says.

NEW YORK - Media giant Viacom is announcing a round of layoffs and restructuring that will result in $US785 million ($A1 billion) in special expenses to be booked in its recently ended quarter.

PARIS - Hong Kong's PCCW Group says it is ending its bid to take a 49 per cent stake in Orange's Dailymotion, citing the French government's preference for a European partner for the French video-sharing platform.

NEW YORK - Drugmaker Bristol-Myers Squibb says it will work with Dutch biotechnology company uniQure to develop gene therapies for cardiovascular diseases.


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2 min read

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Source: AAP



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