(Australian Associated Press)
WORLD FINANCE UPDATE:
The Australian dollar is higher, after some weak US economic data dampened expectations of an interest rate rise by the Federal Reserve.
At 0630 AEST on Wednesday, the local unit was trading at 71.47 US cents, up from 71.15 cents on Tuesday.
And the Australian share market looks set to open higher after Wall Street finished with decisive gains on modestly higher US retail sales ahead of the Federal Reserve’s interest rate decision later this week
At 0645 AEST on Wednesday, the September share price index futures contract was up 60 points at 5,066.
WASHINGTON – US industrial production fell in August on a large drop in car manufacturing that partly reversed its solid gain in July.
WASHINGTON – US retail sales edged higher in August helped by gains in auto sales.
STOCKHOLM – Danish brewer Carlsberg is recalling more than 4600 kegs of Staropramen beer in Sweden after identifying two cases where the kegs were filled with cleaning solution, injuring two people.
LUXEMBOURG – The EU’s top court has toughened its stance on “welfare tourism”, in a decision likely to boost British Prime Minister David Cameron’s hopes for EU negotiations ahead of a membership referendum.
SAN FRANCISCO – Hewlett-Packard says its upcoming spinoff of its technology divisions focused on software, consulting and data analysis will eliminate up to 30,000 jobs.
SHANGHAI – China’s biggest logistics firm, CMST Development Co, says it will acquire a majority stake in Henry Bath & Son, a more than 200-year-old firm that was one of the founders of the London Metal Exchange.