Finance News Update, what you need to know


Story image for news on finance from Herald Sun



THE Australian market looks set to open higher, after Wall Street stocks rose one per cent overnight.

At 0704 AEST on Friday, the September share price index futures contract was up 39 points at 5,505.And The Australian dollar has hit the US 80 cent mark buoyed by greenback weakness as fallout continues from the US Federal Reserve policy meeting.At 0630 AEST on Friday, the local unit was trading at 78.00 US cents, up from 77.39 cents on Thursday.


LUXEMBOURG – The EU has called an emergency eurozone summit next week after Greek debt talks ended without a deal, sparking warnings of an “accident” that could push Athens out of the euro if there is no breakthrough by the end of the month.

LONDON – British firms and investors are bracing themselves for the impact of a possible Greek exit from the euro amid increasing fears the debt-laden country will not reach a deal to avoid going bust.

WASHINGTON – A surge in gasoline prices pushed US consumer inflation modestly higher in May, the fourth month in a row of gains.

WASHINGTON – New claims for US unemployment benefits fell last week, the government says in a report adding further evidence of a strengthening labour market.

WASHINGTON – US politicians have voted to give President Barack Obama fast-track authority to negotiate a major trans-Pacific trade accord, moving it closer to his desk after a dramatic defeat last week.

NEW YORK – The Wall Street Journal and its Dow Jones parent have announced an unspecified number of job cuts and the closing of some foreign bureaus as they shift resources into digital.

WASHINGTON – Average long-term US mortgage rates eased this week after hitting their highest levels this year in the previous week.

WASHINGTON – YouTube has announced plans for a “newswire” of eyewitness videos and a separate project on videos related to social justice and human rights.

TOKYO – Japan’s SoftBank says its chatty humanoid robot Pepper will go on sale this weekend, as it announced a deal with China’s biggest e-commerce website Alibaba and a Taiwanese manufacturer to work on robotics technology.