Finance News Update, what you need to know

Finance News Update, what you need to know

WORLD FINANCE UPDATE:

The Australian dollar has moved little overnight, continuing to hover below 93 US cents.

At 0630 AEST on Tuesday, the local currency was trading at 92.65 US cents, down from 92.68 cents on Monday.

And the Australian share market looks set to open higher after Wall Street climbed amid optimism over the Ukraine and Iraq conflicts.

At 0645 AEST on Tuesday, the September share price index futures contract was up 18 points at 5,412.

ELSEWHERE:

PARIS - Leading economies are showing a steady growth trend overall, although Britain is doing particularly well and Japan and Germany are showing signs of losing pace, the OECD says.

MOSCOW - Russia's economy grew by 0.8 per cent from April to June compared with output during the same period last year, a preliminary estimate by Russia's statistics committee show.

SHANGHAI - German luxury car brand Audi says it will accept punishment from Chinese authorities for breaching anti-monopoly laws in the world's largest auto market.

NEW DELHI - Tata Motors' net profit more than tripled in the first quarter, the Indian giant says, driven by soaring sales of its British luxury marque Jaguar Land Rover.

FRANKFURT - German airline Lufthansa says it is suspending flights to the Iraqi Kurdish city of Arbil "until further notice", following a review of security in Iraq.

WASHINGTON - Smithfield Foods, the US pork giant owned by China's WH Group, says its second-quarter profit more than quadrupled on higher hog prices and strong pork demand worldwide.


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