WORLD FINANCE UPDATE:
The Australian dollar has fallen below 92 US cents for the first time in two months, pushed down by big falls in European and US stock markets.
At 0630 AEST on Friday, the local unit was trading at 92.91 US cents, down from 93.20 cents on Thursday.
And the Australian share market looks set to open sharply lower following strong falls on US and European markets.
At 0645 AEST on Friday, the September share price index futures contract was down 53 points at 5,517.
ELSEWHERE:
BUENOS AIRES - Argentina has blamed the United States for the legal battle that blocked the country from servicing its restructured debt and forced it into a new default.
WASHINGTON - Initial claims for US unemployment insurance benefits jumped last week after trending low for several weeks, but remained within trend and continued to suggest a tightening labour market.
PURCHASE, New York - MasterCard Inc's second-quarter net income has climbed 9.8 per cent, topping analysts' expectations.
BRUSSELS - The world's biggest brewer, Anheuser-Busch InBev, is celebrating a bumper quarter after World Cup fever boosted sales from Brazil to Germany.
NEW YORK - Exxon Mobil Corp net income rose 28 per cent in the second quarter on a sale of Asian assets and higher oil prices, but oil and gas production slipped six per cent, disappointing analysts.
FRANKFURT - Volkswagen, Europe's biggest auto group, has posted a robust quarterly net profit thanks to growth in China and higher profits at its luxury car divisions Audi and Porsche.
PARIS - International supermarket group Carrefour has achieved a sharp profit increase in the first half of 2014, but the company's shares have fallen sharply.
NEW YORK - US and Canadian retail chain Target has named former top Pepsi official Brian Cornell as its new chief executive, charged with cleaning up after a massive data theft scandal.
NEW YORK - Wall Street has offered a muted greeting to Synchrony Financial, the North American retail finance arm of General Electric, on its first day of trade.
TOKYO - Japan must raise its sales tax again to conquer one of the world's heaviest public debt burdens, the International Monetary Fund has said as it called for deep economic reforms.
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