WORLD FINANCE UPDATE:
The Australian dollar is higher, helped by continuing positive sentiment about the local economy.
At 0630 AEST on Monday, the local unit was trading at 93.91 US cents, up from 93.75 cents on Friday.
And the Australian share market looks set to open lower after tech-rich Nasdaq Composite Index again led Wall Street sharply lower, closing out a dreary week at its lowest level in more than two months.
At 0645 AEST on Monday the June share price index futures contract was down 14 points at 5,406.
WASHINGTON – The world’s top finance officials say the global economy is recovering and they hope well-run economic programs will avoid the risks that threaten that rebound.
WASHINGTON – Global capital flows are increasingly “herdlike” and volatile, making it harder for emerging economies to lock down capital, the International Monetary Fund says.
WASHINGTON – The International Monetary Fund has changed and no longer imposes tough “structural adjustment” programs as it did in poor countries two decades ago, IMF chief Christine Lagarde said Saturday.
WASHINGTON – Eurozone monetary authorities are willing to take extraordinary measures to meet their longer-term inflation targets, European Central Bank President Mario Draghi says.
ATHENS – Greece will issue more bonds after last week’s successful five-year debt sale that ended a four-year drought, the head of the debt agency says.
NEW YORK – Twitter executives will meet officials from Turkey’s government, a company spokesman says, after the country’s prime minister vowed to pursue the site for alleged tax evasion.
NEW YORK – US authorities have opened a criminal probe into the nutrition and weight loss company Herbalife Ltd, according to media reports.
RIO DE JANEIRO – Brazil’s Petrobras has turned over documents sought by authorities investigating an alleged $US4.5 billion ($A4.7 billion) money-laundering operation, the latest in a series of problems to plague the state oil giant.
KUWAIT CITY – The Kuwait National Petroleum Company has signed contracts worth $US12 billion ($A12.79 billion) with three international consortia to upgrade two refineries and invited bids to build a new multi-billion-dollar refinery.
NEW YORK – Glencore Xstrata has agreed to sell its copper mine project in Peru for $US5.85 billion ($A6.23 billion) in cash.
LONDON – Chinese conglomerate Sanpower has agreed to buy a majority stake in British department store House of Fraser in a deal worth STG480 million ($A860.75 million), according to a joint statement.