Finance News Update, what you need to know

Tuesday, March 3, 2015
Billionaire busts: The men who lost it allA Brazilian businessman has become a "negative billionaire" after his commodity empire collapsed following allegations of insider trading.


The Australian dollar is hovering amid anticipation that the Reserve Bank will cut the cash rate to a new record low on Tuesday.

At 0630 AEDT on Tuesday, the local currency was trading at 77.71 US cents, down from 77.76 cents on Monday.

And the Australian share market looks set to open flat after a strong day for US equities following a stream of merger announcements.

At 0645 AEDT on Tuesday, the share price index futures contract was up two points at 5,942.


WASHINGTON - US consumer spending and incomes rose in January as a decline in consumer prices picked up speed.

WASHINGTON - The US manufacturing sector saw activity slow for the fourth consecutive month in February, in part due to the West Coast port slowdown.

FRANKFURT - Deutsche Bank co-chief Jurgen Fitschen will face trial in April on allegations he gave false evidence in a long-running legal battle with the defunct Kirch group.

LONDON - Britain's GlaxoSmithKline PLC and Switzerland's Novartis AG have completed a three-part deal that will offer the British company's shareholders a STG4 billion ($A7.89 billion) windfall.

FRANKFURT - German power giant RWE says it has wrapped up the sale of its oil and gas unit Dea to Russian-controlled investment fund LetterOne.

NEW YORK - US computer giant Hewlett-Packard says it is buying mobile networking group Aruba Networks for about $US2.7 billion ($A3.45 billion).

NEW YORK - The world's richest person got even richer this year.

BARCELONA - Google will soon be offering cellular network plans.

03/03/2015 10:06Sydney, Australia. 3 March,2015