Finance News Update, what you need to know


The Australian dollar is higher after the it was reported that the US unemployment rate fell to 6.


6 per cent from 6.7 per cent January.

At 0630 AEDT on Monday, the local unit was trading at 89.59 US cents, up from 89.44 cents on Friday.

And the Australian share market looks set to open higher following gains on Wall Street despite disappointing US jobs data.

At 0645 AEDT on Tuesday, the March share price index futures contract was up 37 points at 5,159.


LONDON – Britain’s data watchdog has launched a probe after confidential files relating to Barclays Bank customers were allegedly stolen then sold on to rogue brokers.

LONDON – The Bank of England’s flagship forward guidance policy linking interest rate decisions to unemployment is widely expected to be ditched – in its current form – this week, after just six months.

AUCKLAND – Up to 125 workers will lose their jobs after Australasia’s biggest food company Goodman Fielder confirmed it would close its Hamilton meat factory.

CARACAS – Venezuela’s President Nicolas Maduro says he wants to speak to Toyota’s top official for Latin America after the carmaker said it would stop production in the South American nation.

LONDON – Mobile phone operator Vodafone has reportedly tabled a seven billion euro ($A11 billion) bid for Spanish cable company Ono as it attempts to revive its European business.

TAIPEI – Taiwan technology giant Foxconn group has signed a letter of intent to invest up to $US1 billion ($A1.12 billion) in Indonesia as it seeks to diversify production away from China, officials said Sunday.

RIO DE JANEIRO – Brazilian tycoon Eike Batista will turn over the bulk of his debt-ridden OGX oil company to creditors in a $US215 million ($A240.60 million) deal that aims to ensure the firm continues to operate.

SINGAPORE – Top Asian airlines’ profit margins are being eroded by a struggling air cargo business, even as they capitalise on increasing passenger demand, industry executives say.

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