WORLD FINANCE UPDATE:
The Australian dollar has traded within a narrow range as the market awaits the federal budget.
At 0630 AEST on Tuesday, the local currency was trading at 93.60 US cents, down from 93.66 cents on Monday.
And the Australian share market looks set to open higher ahead of the federal budget and after both the Dow Jones and S&P 500 reached fresh record highs.
At 0645 AEST on Tuesday, the March share price index futures contract was up 31 points at 5,468.
ELSEWHERE:
WASHINGTON - US online retail sales are expected to grow to $US294 billion ($A318.10 billion) this year, with nearly a third of the total from mobile devices.
NEW DELHI - India's industrial production shrank in March for the fifth time in sixth months.
LONDON - Pfizer Inc has sought to allay concerns over its proposed $US106 billion ($A114.69 billion) takeover offer of AstraZeneca, insisting that its promises will be legally binding.
NEW YORK - Allergan, the US maker of Botox, has rejected a takeover bid from Valeant Pharmaceuticals, saying it "substantially undervalues" the company and questioning the Canadian firm's long-term growth plan.
NEW YORK - US food giant Hillshire Brands is buying Pinnacle Foods, boosting its position in frozen foods, in a cash-and-stock $US6.6 billion ($A7.14 billion) deal including debt.
LONDON - Rupert Murdoch has launched an ambitious bid to create a pan-European television giant to tackle fierce competition, rapid sector consolidation and aggressive bidding wars for live football rights.
TOKYO - Japan's Hitachi group's full year net profit has surged 51.1 per cent, thanks to improved sales in information systems and its social infrastructure business.
DETROIT - Chrysler Group has posted big first quarter sales gains thanks to new Jeep Cherokee and Ram utility models.
