Finance News Update, what you need to know

Tuesday, May 31, 2016
Sold for $1.3 million one day, no buyers for $440,000 the nextRundown home shows death of mining boom.

WORLD FINANCE UPDATE:

The Australian dollar is a touch higher after the greenback fell from a two-month high.

At 0700 AEST on Tuesday, the local unit was trading at 71.83 US cents, up from 71.72 cents on Monday.

And the Australian share market looks set to open slightly lower, with no direction from Wall Street which was closed for a public holiday.

At 0645 AEST on Tuesday, the share price index was down six points at 5,406.

ELSEWHERE:

DHAKA - Officials of Bangladesh Bank may have been involved in a brazen theft of $US81 million ($A112.77 million) from its account with the New York Federal Reserve Bank in February, the head of a government-appointed panel investigating the cyber heist has told reporters.

BERLIN - Germany says it will provide at least 100 million euros ($A154.76 million) to help the country's milk producers who have been suffering from falling prices.

PARIS - Severe weather, including hailstorms, has caused serious damage at the weekend in some French wine-producing regions, notably Cognac where up to 8 per cent of the vineyard has been badly damaged, producers say.

SANTIAGO - Latin America's largest airline, Chile-based LATAM Airlines, is the latest airline to suspend flights to Venezuela due to the "economic scenario"

LONDON - British investment firm Alliance Trust Plc says it has received an informal merger approach from RIT Capital Partners Plc, which is chaired by financier Jacob Rothschild.

GENEVA - Switzerland's Zurich Insurance Group says former chief executive Martin Senn, who ran the company for six years until last December, has taken his own life.

BERLIN - Germany has slipped out of the top 10 most competitive economies in the world, falling two places to 12 from last year, a study by Swiss business school IMD shows.

31/05/2016 11:59Sydney, Australia. 31 May,2016
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