WORLD FINANCE UPDATE:
The Australian dollar is higher after the greenback fell by one per cent in overnight trade.
At 0630 AEST on Wednesday, the local currency was trading at 74.25 US cents, up from 73.58 cents on Tuesday.
And the Australian share market looks set to open lower after Wall Street and European markets fell as volatile commodity prices and company results hit shares.
At 0645 AEST on Wednesday, the September share price index futures contract was down 29 points at 5,617.
ELSEWHERE:
ATHENS - Debt-ridden Greece has received a welcome boost with Standard & Poor's lifting its credit rating by two notches.
ATHENS - The Greek government says it wants to see a final deal on its international bailout hammered out by August 20.
WASHINGTON - Unemployment rates fell in 21 US states and were unchanged in 17 for the month of June, as widespread job growth and a shrinking workforce reduce the ranks of those out of work.
SAN FRANCISCO - Apple has reported its quarterly profit leapt 38 per cent to $US10.7 billion ($A14.51 billion) on surging iPhone sales, but fell short of analysts' expectations.
SAN FRANCISCO - Yahoo has confirmed it has swung to a loss in the second quarter but that revenues grew as the internet pioneer refocused its efforts on mobile and other growing sectors.
WASHINGTON - Microsoft has announced a net loss of $US3.19 billion ($A4.33 billion) in the past quarter, blaming a hefty writedown on the smartphone business it acquired from Nokia.
TORONTO - BlackBerry Ltd is undergoing another round of job cuts as part of a wider restructure as it tries to offset weak smartphone sales.
NEW YORK - Citigroup will be refunding $US700 million ($A949.47 million) to consumers and will pay $70 million in fines for illegal and deceptive credit card practices.
NEW YORK - Industrial giant United Technologies has slashed its 2015 earnings forecast due to the sharp slowdown in China's real estate sector and disappointing aviation parts sales.
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