Finance News Update, what you need to know

Tuesday, October 6, 2015
Sold for $1.3 million one day, no buyers for $440,000 the nextRundown home shows death of mining boom.


The Australian dollar is stronger ahead of the Reserve Bank's cash rate decision.

At 0630 AEDT on Tuesday, the currency was trading at 70.86 US cents, up from 70.68 cents on Monday.

And the Australian share market looks set to open sharply higher, following rallies in US and European stocks as weak US data fuels talk the US Federal Reserve will not lift its interest rates any time soon.

At 0645 AEDT on Tuesday, the December share price index futures contract was up 68 points at 5,209.


ATLANTA - Twelve Pacific rim countries have sealed the deal on creating the world's largest free-trade area, delivering President Barack Obama a major policy triumph.

CHICAGO - British energy giant BP will pay a record $US20.8 billion ($A29.48 billion) to settle government claims for damages stemming from the deadly 2010 Gulf of Mexico oil spill, US Attorney General Loretta Lynch says.

LAGOS - Anglo-Dutch oil group Shell has started pumping crude from a new unit in its massive offshore Bonga oil field in Nigeria, raising output by 50,000 barrels per day.

NEW YORK - US metals giant Alcoa says it has won a contract with European aircraft maker Airbus to supply about $US1 billion ($A1.42 billion) worth of multi-material fastening systems.

MONTREAL - Canadian oil giant Suncor Energy has launched an unsolicited $US3.3 billion ($A4.68 billion) all-stock offer for oil sands producer Canadian Oil Sands.

NEW YORK - General Electric shares have soared on news that activist Nelson Peltz's fund Trian acquired a stake in the industrial conglomerate.

06/10/2015 21:19Sydney, Australia. 6 October,2015