WORLD FINANCE UPDATE:
The Australian dollar has fallen after weak Chinese industrial data added to evidence that the Chinese economy is slowing down.
At 0630 AEST on on Tuesday, the local unit was trading at 69.87 US cents, down from 70.33 cents on Monday.
And Australian shares look set to open sharply lower after US and European markets tumbled following weak Chinese industrial data that added further evidence the world's second biggest economy is slowing.
At 0645 AEST on Tuesday, the December share price index futures contract was DOWN 104 points at 5,002.
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WASHINGTON - US consumer spending rose at a healthy rate in August, while income growth slowed after a big jump in July.
FRANKFURT - Volkswagen's top-of-the-range carmaker Audi says 2.1 million of its diesel cars worldwide are fitted with the sophisticated software enabling them to cheat emission tests.
BRAUNSCHWEIG, Germany - German prosecutors have opened a criminal investigation into Volkswagen's former chief executive Martin Winterkorn concerning his role in the massive pollution cheating scandal that has rocked the auto giant.
GENEVA - Swiss competition authorities are investigating UBS, HSBC, Deutsche Bank and four other banks on suspicion of price fixing in the precious metals market.
NEW YORK - Energy Transfer Equity will acquire the Williams Companies for about $US37.7 billion ($A53.7 billion), including debt, to create a giant in US oil and gas pipelines, the companies have announced.
NEW YORK - Alcoa, the largest US aluminium company, says it will split itself into two companies as it battles lower metal prices and seeks to maximise value for its investors.
LONDON - Thai steelmaker SSI is cutting 1,700 jobs and suspending production at the Redcar plant in northeastern England due to plunging steel prices on world markets.
