WORLD FINANCE UPDATE:
The Australian dollar is lower amid growing expectations that tapering of US quantitative easing could begin soon.
At 0630 AEDT on Wednesday, the local unit was trading at 92.96 US cents, down from 93.32 cents on Tuesday.
And the Australian share market looks set to open lower following Wall Street's downward lead after a top Federal Reserve official warned the bank's stimulus measures couldn't continue forever.
At 0645 AEDT on Wednesday, the December share price index futures contract was down 21 points at 5,390.
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ELSEWHERE:
BRUSSELS - The European Union has clinched a deal on a sharply trimmed 2014 budget after a marathon 16-hour session ending a long dispute over spending taxpayers money.
LONDON - Inflation in Britain has fallen to its lowest level in more than a year.
MILAN - Italian inflation slowed in October but less than analysts expected, official data shows, amid concern weak European growth could cause a deflationary spiral.
NEW DELHI - India's industrial output grew by a slower-than-expected two per cent in September from a year earlier, hit by weak demand during the normally high-spending religious festival season.
VIENNA - The OPEC oil cartel has increased its forecast for oil demand growth in 2013 on expectations of better-than-expected improvement in developed country economies.
WASHINGTON - The US government has cleared the proposed merger between American Airlines and US Airways after they agreed to give up slots and gates at seven key airports.
LONDON - British mobile phone giant Vodafone has surged back into profit in its first-half and is pledging to invest more in Europe and emerging markets after its US exit.
FRANKFURT - Lufthansa, Germany's number one airline, says its passenger numbers were higher in October, as demand increased across all regions.
