Finance News Update, what you need to know

04.Finance News Update what you need to know

(Australian Associated Press)

WORLD FINANCE UPDATE:

The Australian dollar has slipped lower as markets remain risk averse ahead of the US Federal Reserve’s decision on interest rates.

At 0630 AEDT on Wednesday, the currency was trading at 71.95 US cents, down from 72.39 cents on Tuesday.

And the Australian share market looks set to open lower, following the negative lead of US and European stocks ahead of the Federal Reserve’s interest rate decision.

At 0645 AEDT on Wednesday, the share price index futures contract was down 20 points at 5,326.

ELSEWHERE:

WASHINGTON – US consumer confidence fell this month as Americans became more sceptical of the health of the jobs market and as economic growth slowed.

WASHINGTON – New orders for US durable goods fell for a second month in a row in September, official data shows.

FRANKFURT – Volkswagen’s luxury brand Bentley has recalled 27,640 cars worldwide because of potentially faulty battery cable connections.

SAN FRANCISCO – IBM says federal regulators are investigating its accounting of some of its business transactions in the United States, the United Kingdom and Ireland.

SHANGHAI – Chinese online giant Alibaba has posted robust quarterly results showing better-than-expected sales growth, allaying fears stemming from cooling in the world’s second largest economy.

NEW YORK – Pfizer has reported better-than-expected earnings as strong sales in oncology and vaccines offset a hit from patent expirations.

SAO PAULO – Brazil’s Embraer, the world’s third biggest commercial aircraft manufacturer, announced $US109 million ($A150 million) losses for the third quarter of 2015.

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