Finance News Update, what you need to know


The Australian dollar is slightly lower in quiet trade ahead of the release of the minutes of the Reserve Bank of Australia’s February board meeting.


At 0630 AEDT on Tuesday, the local unit was trading at 90.31 US cents, down from 90.56 cents on Monday.

And the Australian share market looks set to open higher following a mixed performance on European markets with Wall Street closed for the Presidents’ Day public holiday.

At 0645 AEDT on Tuesday, the March share price index futures contract was up 28 points at 5,373.


BRUSSELS – There is no need to discuss fresh aid for twice-bailed out Greece before August, with a current package enough if Athens meets conditions, the head of the eurozone finance ministers says.

PARIS – President Francois Hollande is seeking to woo sceptical investors back to France, telling global business chiefs his government has no fear of foreign capital.

FRANKFURT – Economic momentum in Germany seems to have picked up noticeably in the winter months, the Bundesbank central bank has written in its monthly report.

BRUSSELS – Finance ministers from the 18-nation eurozone are trying to agree with European lawmakers on the timely creation of a body that can unwind or restructure ailing banks.

LONDON – Three former employees of banking giant Barclays have been charged in connection with the Libor interest rate-rigging scandal, Britain’s Serious Fraud Office says.

JOHANNESBURG – Mining giant Anglo American Platinum has warned that a nearly month-long strike at its South African mines could lead to further restructuring, raising the spectre of more job losses.

SYDNEY – Australian business leaders are set to meet with global finance ministers and central bank chiefs this week to push for more infrastructure investment amid concerns about a worldwide deficit.