Finance News Update, what you need to know

04-Finance News Update_ what you need to know

(Australian Associated Press)


The Australian dollar has hit another post Christmas low, as the fall out from Monday’s weak Chinese manufacturing figures overshadows currency markets.

At 0700 AEDT on Wednesday, the local unit was trading at 71.52 US cents, down from 71.99 cents on Tuesday.

And the Australian share market looks set for a flat open, after Wall Street recovered from a big selloff on the first trading day of the year.

At 0700 AEDT on Wednesday, the March share price index futures contract was UP four points at 5,146.


KUALA LUMPUR – Malaysia Airlines says it has temporarily banned checked-in luggage on some flights to Europe because of “unreasonably strong head winds” on the longer routes it is taking for safety reasons.

FRANKFURT – Shares in Volkswagen AG are sliding after the US Justice Department sued the German automaker over emissions-cheating software fitted to diesel vehicles.

LONDON – Rich countries’ development aid hit a record high in 2014 but the share that reached the world’s poorest countries was the lowest since 2006, the Organisation for Economic Co-operation and Development (OECD) says.


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