Finance News Update, what you need to know

(Australian Associated Press)

WORLD FINANCE UPDATE:

The Australian share market is expected to open flat, pulled in opposite directions by falls on Wall Street and gains in base metals prices.

At 0700 AEST on Wednesday, the Australian share price futures index was down four points, or 0.07 per cent, at 6,043 points.

Meanwhile, the Australian dollar is only slightly lower, after the falls in US stocks, and gains in base metals prices.

At 0700 AEST, the local currency was worth 75.76 US cents, from 75.88 US cents on Tuesday.


ELSEWHERE:

WASHINGTON – US President Donald Trump has floated a plan to fine ZTE Corp and shake up its management as his administration considered rolling back more severe penalties that have crippled the Chinese telecommunications company.

SHANGHAI – China will steeply cut import tariffs for automobiles and car parts, opening up greater access to the world’s largest auto market amid an easing of trade tensions with the United States.

NEW YORK – For the first time in 226 years, a woman will lead the New York Stock Exchange after current chief operating officer Stacey Cunningham was named the NYSE’s president.

BRUSSELS – Facebook boss Mark Zuckerberg has apologised to European Union MPs for a massive data leak, in his latest attempt to draw a line under a scandal that has rocked the world’s biggest social media network.

WASHINGTON – One of US President Donald Trump’s picks to become the next US ambassador to Australia, veteran senator Orrin Hatch, prefers to stay in Utah to enjoy “early bird specials at all-you-can-eat buffets and long walks through Costco”.

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