Finance news you need to know today –

8 months ago Comments Off on Finance news you need to know today –

Volkswagen AG chief executive Matthias Mueller.

HERE are eight things making news in business and finance today.

1. SYDNEY — The Australian dollar is rallying again after a brief cool-off. At 0630 AEDT on Wednesday, the local unit was trading at 74.56 US cents, up from 74.26 cents on Tuesday.

2. SYDNEY — And the Australian share market looks set to open lower after Wall Street fell as oil prices slipped and weak Chinese data rekindled fears of a global economic slowdown. At 0645 AEDT on Wednesday, the share price index was down 12 points at 5,099.

3. BRUSSELS — European Union countries will exchange information on the tax affairs of multinational companies after EU finance ministers backed new rules aimed at stopping big companies avoiding paying their fair share into government coffers.

4. LONDON — If Britain left the European Union without securing full access to the single market, banks would probably move some businesses to the remainder of the bloc, Bank of England Governor Mark Carney says.

5. NEW YORK — Chevron is cutting its spending budget by nearly 40 per cent for 2017 and 2018 as it deals with plunging oil prices.

6. ASTANA — Hundreds of mostly young, burger-loving Kazakhs have battled freezing temperatures and long lines in the capital Astana for a chance to place their fast-food orders at the country’s first McDonald’s restaurant.

7. WOLFSBURG, Germany — German prosecutors have widened their probe of Volkswagen’s diesel emissions cheating scandal and are now investigating 17 employees, up from six employees previously, prosecutor Klaus Ziehe says.

8. SHANGHAI — Electronics retail giant Alibaba is set to acquire a 60 per cent stake in Chinese lottery firm AGTech Holdings, as the suspension of online lottery sales are expected to be lifted sometime in 2016, official China Daily newspaper reports.

Finance news you need to know today –}