WORLD FINANCE UPDATE:
The Australian dollar is being dragged lower following dovish comments from the US Federal Reserve after it left interest rates on hold.
At 0700 AEDT on Thursday, the local unit was trading at 70.22 US cents, down from 70.29 cents on Wednesday.
And the Australian share market looks set to open lower following falls on Wall Street after the US Federal Reserve failed to give investors a strong indication of when it might scale back future interest rate rises.
At 0645 AEDT on Thursday, the share price futures index was DOWN eight points at 4,907.
WASHINGTON – The Federal Reserve has kept interest rates unchanged and says it is “closely monitoring” global economic and financial developments, but maintained an otherwise upbeat view of the US economy.
BERLIN – Germany has lowered its growth forecast for 2016 in the face of an emerging market slowdown that is dampening exports, leaving domestic demand as the sole pillar of support for Europe’s biggest economy this year.
LONDON – The Royal Bank of Scotland has put aside some STG2 billion pounds ($A4.05 billion) as the taxpayer-owned institution continues to tally the costs of misconduct and legal claims.
LONDON – Royal Dutch Shell shareholders have overwhelmingly backed the STG34 billion ($A69.61 billion) bid to buy BG Group, despite a slide in oil prices that have had some critics wondering about the wisdom of the mega-deal.
NEW YORK – Apple Inc shares have fallen 4 per cent after the company reported its slowest-ever rise in iPhone shipments, with an uptick likely only after the expected launch of iPhone 7 in September.
MILAN, Jan 27, AP – Carmaker Fiat Chrysler says it will revise its five-year business expansion plan after reporting a 40 per cent drop in earnings due to a poor performance in Latin America and Asia and flat global sales.
CHICAGO – Boeing’s fourth-quarter performance beat analysts’ estimates, but the company’s 2016 outlook came in well below Wall Street’s expectations.
STOCKHOLM, Jan 27 AP – Swedish wireless equipment maker Ericsson says an improvement in business in China despite the market turmoil there helped its fourth-quarter profit jump nearly 70 per cent.