Finance News Update, what you need to know

Finance News Update, what you need to know

WORLD FINANCE UPDATE:

The Australian dollar is higher, boosted by a positive consumer confidence report.

At 0630 AEDT on Thursday, the local unit was trading at 93.29 US cents, up from 93.05 cents on Wednesday.

And the Australian share market looks set to open slightly lower following falls on international markets amid speculation the Federal Reserve may soon start curtailing its economic stimulus measures.

At 0645 AEDT on Thursday, the December share price index futures contract was down nine points at 5,327.

ELSEWHERE:

LONDON - Britain's economic recovery "has finally taken hold", according to the Bank of England, which has upgraded growth forecasts despite headwinds from the eurozone debt crisis.

MADRID - Spanish inflation slowed to zero in October, official data shows, in line with falling rates around Europe which have raised the risk of deflation that could threaten economic recovery.

LONDON - The London Stock Exchange Group says net profit slid 42 per cent in its first half.

PARIS - The US market ICE says it has completed the acquisition of US-European stock market operator NYSE Euronext for $US11.0 billion ($A11.86 billion).

QUITO - US oil giant Chevron has rejected as "illegitimate and unenforceable" an Ecuadoran court ruling ordering it to pay $US9.51 billion ($A10.26 billion) for environmental damages to the Amazon by sister company Texaco.

SHANGHAI - PetroChina will pay $US2.6 billion ($A2.80 billion) to acquire oil and gas interests in Peru, the company says, in China's latest move to secure crucial energy supplies.

COPENHAGEN, Nov 13 AFP - Danish brewer Carlsberg has announced growth in third-quarter profits despite a revenue drop, thanks to tight cost control measures.

MILAN - Apple is under investigation in Italy for allegedly failing to declare over 1.0 billion euros ($A1.46 billion) to the tax man, Italian media reports.

LONDON - Sir Hector Sants has resigned from his post in charge of compliance at the UK's Barclays Bank after being signed off work with stress and exhaustion.

SINGAPORE - US auto giant General Motors is moving its international headquarters to Singapore from Shanghai, boosting the city-state's status as a regional business hub.


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2 min read

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Source: AAP



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