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International financial news

Reported by AAP
Friday, September 20, 2013
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A roundup of news in finance, economics and business from around the world:

INTERNATIONAL NEWS

WASHINGTON - New claims for US unemployment benefits rose modestly last week but the overall trend showed fewer layoffs.

WASHINGTON - International Monetary Fund chief Christine Lagarde has urged the US not to "put a brake on this beginning of recovery" by failing to resolve an impasse over the budget and cutting back government spending too deeply.

BRASILIA - Brazil's mining giant Vale is to sell a 35.9 per cent stake in its cargo logistics firm VLI to Japan's Mitsui and a Brazilian government fund.

NEW YORK - Banking giant JPMorgan Chase has agreed to pay $US920 million ($A974 million) in fines to US and British regulators over actions involved in last year's "London whale" trading debacle.

LONDON - Rolls-Royce, the British maker of aircraft engines, says it has agreed with US group United Technologies Corp to abandon their joint project to power mid-size planes.

FRANKFURT - Lufthansa, Germany's biggest airline, says it has placed orders worth 14 billion euros ($A20.06 billion) for 59 new fuel-efficient long-haul aircraft.

DUBLIN - Bailed-out eurozone nation Ireland has exited recession in the second quarter with economic growth of 0.4 per cent thanks to solid expansion of its construction and export sectors, official data shows.

WASHINGTON - A World Bank report says spillover from the Syrian war has cost Lebanon billions of dollars, deeply damaged its economy and harshly strained social services such as health and education.

HELSINKI - Nokia says it will pay outgoing CEO Stephen Elop a compensation package of some $US25 million ($A26 million) when he leaves the company to move over to Microsoft.

LOCAL NEWS

SYDNEY - The Australian dollar is lower as the dust settles on the US Federal Reserve's unexpected decision to maintain its economic stimulus program.

SYDNEY - Economy-wide spending bounced in August and is expected to rise further now that the federal election is out of the way.

19/12/2014 00:24Sydney, Australia. 19 December,2014
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