WORLD FINANCE UPDATE:
The Australian dollar is higher as it looks increasingly likely that there won’t be any more central bank cash rate cuts in the foreseeable future.
At 0630 AEDT on Thursday, the local unit was trading at 92.29 US cents, up from 91.98 cents on Wednesday.
And the Australian share market looks set to open lower following Wall Street’s lead with US markets giving up their early session gains.
At 0645 AEDT on Thursday, the June share price index futures contract was down 26 points at 5,344.
WASHINGTON – Orders to US factories for long-lasting manufactured goods rose in February by the most in three months, but a key category that reflects business investment fell sharply. This category fell 1.3 per cent, the second setback in three months.
LONDON – Britain and China have signed a deal for the first clearing service for yuan trading outside of Asia, the UK government says.
GENEVA – China has broken the rules of global commerce by restricting exports of rare earths, tungsten and molybdenum, a move that benefited domestic industries, a World Trade Organisation panel says.
KIEV – Ukraine has agreed to drastically hike domestic gas prices by up to 50 per cent in order to meet a key loan condition from the International Monetary Fund for the crisis-hit ex-Soviet state.
MOSCOW – The chief executive of Siemens has told President Vladimir Putin the German industrial giant plans long-term investment in Russia, in a key sign of confidence in Russia’s economy despite the outcry over its intervention in Crimea.
PARIS – The number of jobless in France surged by 0.9 per cent in February to a new record of 3.34 million.
YANGON – Myanmar has named energy giants Chevron, Shell and Total among the winners of a landmark auction of offshore oil and gas exploration rights, pinning hope on its natural resources to drive economic growth.
PARIS – Beijing and Paris have signed scores of deals worth 18 billion euros ($A27.35 billion) on the second day of a lavish state visit by the Chinese president, in what Francois Hollande said would bring much-needed growth.
MOSCOW – Russian aerospace giant Sukhoi says it has signed a preliminary deal to sell 100 jumbo jets to a group of Chinese firms worth an estimated $US3.3 billion ($A3.61 billion).
NEW YORK – King Digital, the maker of the wildly popular video game Candy Crush, fell below its IPO price in initial trading on the New York Stock Exchange.
LONDON – A British financial watchdog says it has fined Spanish banking giant Santander almost STG12.4 million ($A22.48 million) for mis-advising customers.
LONDON – Lloyd’s of London, the centuries-old insurance market, says 2013 has been its most profitable year since the height of the financial crisis.