Tags
Australia Dollar, Hong Kong, London, pay gap, Share Market, Tea, US Economy
HERE are eight things making news in business and finance around the world today.
1. SYDNEY — The Australian dollar is stronger, shrugging off strength from the greenback after the US service sector hit a 10-year high. At 0630 AEST on Thursday, the currency was trading at 73.57 US cents, up from 73.49 cents on Wednesday.
2. SYDNEY — And the Australian share market looks set to open higher after US stocks finished mostly higher following mixed economic data, but a disappointing earnings report from Disney weighed on the Dow. At 0645 AEST on Thursday, the September share price index futures contract was up 14 points at 5,626.
3. WASHINGTON — The US markets regulator has backed a rule requiring big companies to disclose the pay gap ratio between chief executives and workers, amid rising concerns about the nation’s income inequality.
4. WASHINGTON — The US economy’s service sector grew sharply in July, expanding 4.3 per cent to reach a record high.
5. WASHINGTON — The US trade deficit increased in June as solid consumer spending pulled in more imports, while the strong dollar restrained exports.
6. HONG KONG — Asia-focused British bank Standard Chartered says profits plunged in the first half of the year and slashed dividends by 50 per cent.
7. THE HAGUE — Top Dutch bank ING has posted a rise in second quarter net profits but the increase was due to the sale of an Indian unit, leaving its shares sliding in morning trading.
8. LONDON — Britons famously love their tea but sales have fallen by more than a fifth since 2010, driven by a shift away from the traditional cuppa, a report says. Tea sales by volume fell by 22 percent between 2010 and 2015 to about 76 million kilos from 97 million kilos, according to market research firm Mintel.