Finance News Update, what you need to know

Finance News Update, what you need to know

WORLD FINANCE UPDATE:

The Australian dollar is slightly lower after soft Chinese data and good US economic figures pulled the currency in opposite directions.

At 0700 AEDT on Friday, the local unit was trading at 89.09 US cents, down from 89.13 cents on Thursday.

And the Australian share market looks set to open lower after international markets fell following mediocre reports on Chinese manufacturing activity.

At 0645 AEDT on Friday, the March share price index futures contract was down 45 points at 5,300.

ELSEWHERE:

WASHINGTON - First-time claims for US unemployment insurance slipped last week during the Christmas holidays, according to government data.

WASHINGTON - US manufacturing sector growth slowed slightly in December after six straight monthly gains, the Institute for Supply Management says.

WASHINGTON - US construction spending rose 1.0 per cent in November from the previous month to reach the highest level in four years, official data shows.

PARIS - Borrowing rates for Spain and Italy have dipped below 4.0 per cent in a comforting new year start for countries whose economies are still considered the eurozone's weakest links.

MADRID - Recession-hit Spaniards have bought more cars and trucks in 2013, halting a two-year plunge in the market as they cashed in state subsidies for scrapping old vehicles.

NEW YORK - Rupert Murdoch's 21st Century Fox is selling its 47 per cent stake in Star China TV, which operates three Mandarin-language television stations.

HONG KONG - The tiny Chinese city of Macau has again smashed its annual record for casino earnings as revenues last year hit a staggering $US45 billion ($A50.7 billion), further underlining its position as the world's biggest gambling market.

ROME - Shares in Fiat have soared after it announced it would take full control of Chrysler, with excitement for the historic deal's potential largely allaying concerns of its cost.

LAS VEGAS - Ford plans to unveil at this month's International CES gadget show a solar-powered concept car that offers the same performance as a plug-in hybrid but without the need for a plug.


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Source: AAP



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