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L’Oreal has posted an 8.5 per cent jump in net half year profit. Source: Supplied

HERE are 16 things making news in business and finance around the world today.

1. SYDNEY — The Australian dollar is softer against the greenback, which rallied despite weaker-than-expected US economic data. At 0630 AEST on Friday, the currency was trading at 72.92 US cents, down from 73.01 cents on Thursday.

2. SYDNEY — And the Australian share market looks set to open higher, despite a mixed lead from Wall Street where the Dow was dragged lower on a disappointing Procter & Gamble earnings report. At 0645 AEST on Friday, the September share price index futures contract was up 10 points at 5,624.

3. WASHINGTON — The International Monetary Fund says it will not join a new bailout program for Greece until conditions for debt sustainability, including debt relief and economic reforms, are clearly assured.

4. WASHINGTON — The International Monetary Fund has approved a $US1.24 billion ($A1.70 billion) emergency loan for Iraq, saying the country needs extra support in the face of the Islamic State insurgency and depressed oil prices.

5. MOSCOW — OPECsays the oil producers’ cartel is not planning production cuts despite the recent fall in crude prices and concerns about Iran’s possible market re-entry.

6. WASHINGTON — The US economy picked up sharply in the second quarter, boosted by increased consumer spending and exports after a tepid first quarter, the Commerce Department has reported.

7. PARIS — The world’s largest cosmetics company, L’Oreal, has posted an 8.5 per cent jump in net half year profit.

8. MILAN — Car maker Fiat Chrysler’s second quarter profits have jumped almost 70 per cent on a year earlier, prompting a raise in its 2015 revenue forecast.

9. PARIS — France’s AccorHotels has posted a 52 per cent first half profit increase and outlined ambitious targets for the full year.

10. MADRID — Santander of Spain says quarterly profits have surged 17.2 per cent to 1.7 billion euros ($1.9 billion) on growth in markets including Britain and a weak euro.

11. HELSINKI — Nokia says its network equipment business has improved sales and profitability in the second quarter, sending its share price soaring more than six per cent.

12. BERLIN — German engineering giant Siemens says its third-quarter profit is down slightly and predicted a complex year, citing “geopolitical tensions”.

13. FRANKFURT — Still reeling from the crash of one of its Germanwings planes in March, Lufthansa has tripled its second quarter net profit helped by cheap fuel.

14. NEW YORK — Procter & Gamble have reported a large drop in quarterly earnings on lower sales and a hefty charge on operations in Venezuela following major currency fluctuations there.

15. BRUSSELS — The world’s biggest brewer Anheuser-Busch InBev has reported a sharp fall in second quarter profits as a result of weak economic conditions in several markets and poor weather hitting demand.

16. PARIS — Atomic energy giant Areva will sell a majority stake in its nuclear reactor unit to electricity group EDF as part of a shake-up of the French sector.