WORLD FINANCE UPDATE:
The Australian dollar is higher as US and European stock markets gain ground, despite Western nations imposing sanctions on Russia.
At 0630 AEDT on Tuesday, the local unit was trading at 90.86 US cents, up from 90.58 cents on Monday.
And the Australian share market looks set to open higher, following the lead of international bourses with investors shrugging off concerns over Crimea’s vote to secede from Ukraine and join Russia.
At 0645 AEDT on Tuesday, the March share price index futures contract was up 17 points at 5,339.
WASHINGTON – US industrial production rebounded in February as manufacturing output made its strongest gain since last August, the Federal Reserve says.
WASHINGTON – Unemployment rates have fallen in 43 US states as more Americans begin looking for work and most quickly find jobs.
BRUSSELS – Inflation across the 18-country eurozone has been revised down to its lowest level since October, a development that may ratchet up the pressure on the European Central Bank (ECB) to cut interest rates further.
LAGOS – Anglo-Dutch oil giant Shell says it has halted crude exports from a key terminal in southern Nigeria because of a leak in a supply pipeline.
MUMBAI – Toyota has shut down production at its two auto-assembly plants in India, locking out 6,400 workers amid testy wage negotiations and allegations of threats against management.
FRANKFURT – A German court has thrown out claims from a number of institutional investors against Porsche in connection with its failed attempt to take over carmaker Volkswagen in 2008.
SHANGHAI – New York-listed Chinese online game developer Giant Interactive says it has agreed to be taken private by its parent, backed by a consortium which will fund the $US3 billion ($A3.36 billion) purchase.