WORLD FINANCE UPDATE:
The Australian dollar is higher, boosted by weaker-than-expected US gross domestic product (GDP) figures.
At 0630 AEST on Thursday, the local currency was trading at 92.89 US cents, up from 92.81 cents on Wednesday.
And the Australian share market looks set to follow Wall Street higher, with the Dow Jones reaching a new record after the Federal Reserve said the US economy was picking up after a winter slowdown.
At 0645 AEST on Thursday, the June share price index futures contract was up 22 points at 5,491.
PARIS – China is advancing rapidly to overtake the US as the biggest economy in the world.
WASHINGTON – The Federal Reserve said on Wednesday that the US economy is revving up after a winter chill and kept its monetary policy course unchanged.
ATHENS – Greece has presented a three-year fiscal plan forecasting further improvement in the underlying budget surplus, a major fall in unemployment and real growth of 3.2 per cent by 2018.
MADRID – Spain has touted a brighter economic outlook as it emerges slowly from a job-wrecking recession, but with an unemployment rate stuck above 20 per cent until 2016.
PARIS – The battle for Alstom’s prized energy business has heated up, as the board of the French “national jewel” said it favoured an offer by US giant General Electric, while Germany’s Siemens upped its rival bid.
NEW YORK – Twitter shares have plummeted to their lowest level since the company’s November Wall Street debut, after the company added fewer new users than expected.
NEW YORK – Donald Trump is buying Turnberry Resort in Scotland, famous for its Ailsa Course that has hosted the British Open three times.
WASHINGTON – South Korea’s Samsung has remained at the top of the rapidly growing smartphone market in early 2014 as Chinese rivals gained ground, a survey shows.