Finance News Update, what you need to know

Thursday, April 24, 2014

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WORLD FINANCE UPDATE:

The Australian dollar is slightly higher, but is struggling to bounce back from the losses made after the March quarter inflation figures came in weaker than expected.

At 0630 AEST on Thursday, the local unit was trading at 92.88 US cents, up from 92.80 cents on Wednesday.

And the Australian share market looks set to open higher despite Wall Street closing lower following a broad sell-off of tech stocks.

At 0645 AEST on Thursday, the June share price index futures contract was up 20 points at 5,529.

ELSEWHERE:

MOSCOW - Russia has proposed to host three-way talks on its gas supplies to Europe with the European Union and Ukraine on April 28 in Moscow.

BEIJING - China will launch 80 new pilot projects allowing private investment in areas previously dominated by state-run firms, according to an official media report.

WASHINGTON - The number of Americans buying new homes plummeted in March to the slowest pace in seven months, a sign that real estate's spring buying season is off to a weak start.

NEW YORK - The mighty US winter of 2013-4 did not translate into soaring cold medicine sales at Procter & Gamble.

NEW YORK - Facebook profits nearly tripled to $US642 million ($A688 million) in the first quarter on a 72 per cent surge in revenues, the company has reported.

CUPERTINO, California - Apple plans to buy back an additional $US30 billion ($A32 billion) of its stock and raise its quarterly dividend by eight per cent amid a slowdown in revenue growth.

WASHINGTON - US aerospace and defence giant Boeing has raised its 2014 profit outlook despite a first-quarter profit slide, citing strong demand for its new jetliners.

BRUSSELS - AB InBev, the world's biggest brewer, on Wednesday said it has acquired Chinese beer company Siping Ginsber in a deal that could make it the country's number three brewer.

SEATTLE - Amazon is teaming up with HBO, the first such streaming arrangement agreed to by the cable network, in a deal that will make available to Amazon Prime members some classic TV like The Sopranos and The Wire.

NEW YORK - Web portal AOL Inc says it will license full-length movies from Miramax for free viewing with advertisements by its US visitors.

SAN FRANCISCO - Google has added virtual time travel to its internet offerings.

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24/04/2014 14:12Sydney, Australia. 24 April,2014
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