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Finance News Update, what you need to know

Tuesday, September 30, 2014
World's kookiest billionairesBillionaires and their eccentric and outlandish publicity stunts.

WORLD FINANCE UPDATE:

The Australian dollar is almost level as the US dollar eases back from its four-year highs against the yen.

At 0630 AEST on Tuesday, the local unit was trading at 87.17 US cents, slightly down from 87.19 cents on Monday.

And the Australian share market looks set to open lower after Wall Street fell as a heavy week of US economic data got under way while investors eyed political unrest in Hong Kong.

At 0645 AEST on Tuesday, the December share price index futures contract was down 11 points at 5,253.

ELSEWHERE:

FRANKFURT - Inflation remains stubbornly low in several eurozone states, keeping pressure on the ECB to unveil new steps to stoke the region's moribund economy this week.

BRUSSELS - Business and consumer confidence in the eurozone slipped again in September, official figures show, adding further gloom to the outlook following other recent weak data.

WASHINGTON - US consumer spending and personal income picked up pace in August after a weak July, while inflation remained flat, the Commerce Department says.

WASHINGTON - US pending home sales slowed a bit in August after July's strong pace, the National Association of Realtors says.

BRASLIA - Brazil's central bank has more than halved its growth forecast for this year to 0.7 per cent, down from 1.6 per cent three months ago.

WASHINGTON - The US government's emergency actions in the financial crisis have gone on trial as lawyers accused it of having illegally seized teetering insurance giant AIG in September 2008.

LONDON - Lloyds Banking Group has fired eight members of staff and withheld bonuses worth STG3 million ($A5.48 million) as part of disciplinary action taken after July's revelations about rate-fixing.

FRANKFURT - Lufthansa pilots have turned up the pressure on management in a dispute over early retirement provisions by calling a fourth day of walkouts, the latest challenge to cost-cutting at Europe's older airlines.

BERLIN - Swiss-based food and drink company Nestle SA says it is selling its Alete and Milasan baby food brands in Germany to an investor consortium for an undisclosed sum.

LAKEWOOD, Colorado - The owner of Einstein Bros Bagels and other, similar chains is being acquired by investment group JAB Holding for about $US364.5 million ($A394.4 million).

PARIS - The founder of Chinese telecommunications giant Huawei has reportedly announced plans to invest 1.5 billion euros ($A2.1 billion) in France to develop smartphones.

NEW YORK - Microsoft co-founder Bill Gates has topped Forbes' latest list of the 400 richest Americans for the 21st straight year.

01/10/2014 05:53Sydney, Australia. 1 October,2014
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