WORLD FINANCE UPDATE:
The Australian dollar has drifted lower after the Reserve Bank of Australia noted slower growth in China.
At 0630 AEDT on Wednesday, the Australian dollar was trading at 92.45 US cents, down from 92.66 cents on Tuesday.
And the Australian share market looks set to open higher after Wall Street gained following solid manufacturing data from China.
At 0645 AEDT on Wednesday, the June share price index futures contract was up 25 points at 5,408.
WASHINGTON – The World Bank plans to nearly double its annual lending to emerging economies like China and India as part of its effort to eliminate extreme poverty by 2030.
WASHINGTON – US manufacturing activity gained pace in March helped by a pickup in new orders and a rebound in production, the Institute for Supply Management says.
PARIS – Inflation slowed in major developed countries in February amid a steep drop in energy prices, a report shows.
ATHENS – The European Central Bank sees “no deflation prospects” despite the latest data showing eurozone inflation dropping to the lowest level in over four years, a senior official says.
HONG KONG – Hong Kong’s de facto central bank says it is investigating numerous banks for alleged foreign exchange market manipulation, the latest in a series of international probes.
NEW YORK – A group of investors and pensions funds have sued 12 international banks for allegedly manipulating foreign exchange markets to their favour, the Wall Street Journal reports.
LONDON – The British government cost taxpayers millions by selling off the Royal Mail at too low a price, the country’s public-spending watchdog says.
WASHINGTON – Ford’s US auto sales accelerated in March, pulling out of a February slump blamed on brutal winter weather, while General Motors has delayed its results over a computer problem.
WASHINGTON – Relatives of crash victims are demanding accountability from embattled US car maker GM as its CEO prepares to face Congress, amid claims a two-dollar fix could have saved lives.