Finance News Update, what you need to know

Thursday, February 11, 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 has risen against the greenback after US Federal Reserve chair Janet Yellen's Congressional testimony.

At 0630 AEDT on Thursday, the local unit was trading at 70.97 US cents, up from 70.52 cents on Wednesday.

And the Australian share market looks set to open higher following mostly gains on Wall Street after Federal Reserve Chair Janet Yellen's comments eased investor concerns about the capacity of the economy to absorb a gradual rise in interest rates.

At 0645 AEDT on Thursday, the share price futures index was up 44 points at 4,754.

ELSEWHERE:

WASHINGTON - Tightening financial conditions driven by falling stock prices, uncertainty over China and a global reassessment of credit risk could throw the US economy off track from an otherwise solid course, Federal Reserve Chair Janet Yellen says.

LONDON/ROME - Europe's top four economies suffered steeper drops in industrial output during December than any analyst had forecast, a grim sign for the global economy as it struggles to sustain momentum.

LONDON - Japanese brewer Asahi has tabled a 2.55 billion euro ($A4.08 billion) bid to buy European lager brands Peroni and Grolsch being put up for sale as part of the takeover of SABMiller.

HELSINKI - Hit by sharp declines in freight rates and the oil price, Danish shipping and energy group A.P. Moller-Maersk has posted a $US2.5 billion ($A3.52 billion) loss in the fourth quarter, a big turnaround from the profit of $US189 million in the equivalent period a year earlier.

TOKYO - Japanese carmaker Nissan has reported a 25 per cent increase in fiscal third-quarter profit to Y127.2 billion ($A1.57 billion) on strong sales.

LONDON - Food and beverage giant Nestle told the IAAF on Wednesday that it terminated its sponsorship of athletics' governing body over fears the doping scandal could damage the company's image.

11/02/2016 09:00Sydney, Australia. 11 February,2016
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