MARKETS / FINANCE

The Australian Dollar has opened lower this morning, continuing on from yesterday's weakness, which saw the AUD trade below 0.8400.

Not much of anything worked for investors in May, including those known to be the savviest of the bunch.

A higher than expected inflation gauge reading, solid New Home Sales and an increase in company operating profits all gave the Aussie dollar a boost in local trade yesterday as it recovered from an early morning dip to 0.8425 to push marginally above the 85 cent handle.

Canada has launched a probe into Google Inc as legal problems escalate surrounding the search engine's disclosure that it collected private data while taking photographs for its Street View product.

Citigroup Inc's CitiFinancial unit will shut 330 of its U.S. branches and cut between 500 and 600 jobs, in an effort to cut costs at the business and make it more attractive to potential buyers.

Stocks fell on Tuesday as energy shares slid after the latest failed attempt to halt the oil spill in the Gulf of Mexico and the U.S. government announced a criminal probe into the disaster.

U.S. safety regulators have opened a preliminary investigation into the possibility that accelerator pedals could be entrapped by floormats in Ford Motor Co 2010 Fusion and Mercury Milan sedans.

The Bank of Canada raised its key interest rate on Tuesday, the first G7 industrialized economy to do so after the global recession, but said the European debt crisis made its next move highly unpredictable.

Manufacturing grew for a 10th straight month in May and construction spending notched its fastest pace in nearly 10 years in April, suggesting the U.S. economy will add jobs and weather Europe's debt storm.

U.S. safety regulators have opened a preliminary investigation into the possibility that accelerator pedals could be entrapped by floormats in Ford Motor Co 2010 Fusion and Mercury Milan sedans.

Stocks were little changed on Tuesday after data showed manufacturing expanded for a tenth straight month, but worries of wider fallout from the oil spill in the Gulf of Mexico kept a lid on gains.

Wall Street was little changed in choppy mid-day trading on Tuesday after erasing losses as data showing U.S. manufacturing expanded for a tenth straight month failed to quell fears of a slowing economy.

AIG's rejection of a lowered takeover offer by Prudential for its Asian life insurance business has shifted attention back to the company's IPO plans.

Prudential Plc's bid for rival AIG's Asian unit was close to collapse after the British insurer failed to secure a price cut, triggering talk it might itself become a takeover target.

More U.S. employers expect to pay higher salaries to new hires as demand for professional staff improves with a stronger economy, a semiannual survey by Dice Holdings Inc found.

The manufacturing sector expanded in May for a tenth straight month but at a slower pace than in April while employment rose slightly to its best level in six years, according to an industry report released on Tuesday.

Canada became the first of the G7 major industrialized countries to begin hiking interest rates following the global financial crisis, raising its key rate on Tuesday by a quarter-point to 0.50 percent.

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Wall Street rose on Tuesday as U.S. construction spending recorded its largest monthly increase in nearly 10 years and U.S. manufacturing expanded in for a tenth straight month.

Dubai Holding's main unit said it may resort to asset sales to deal with its debt after posting a $6.2 billion loss for 2009, sending shares in Dubai tumbling as the market reacted to the latest setback for the emirate.

Stocks pared losses and the Dow and the Nasdaq turned positive on Tuesday after a report showed U.S. manufacturing grew more than expected in May.

U.S. stock index futures indicated a drop of more than 1 percent at the open on Tuesday as a slowdown in global manufacturing added to doubts about the pace of an economic recovery.

Dow and S&P index futures indicated a drop of about 1 percent at the open on Tuesday as a slowdown in Asian manufacturing added to doubts about the pace of an economic recovery.

The pace of China's factory output eased last month as gradual policy tightening took a toll on new orders, suggesting to some economists that Beijing will take its time before nudging interest rates higher.

Stock index futures indicated a drop of more than 1 percent at the open on Tuesday as a slowdown in Asian manufacturing added to doubts about the pace of an economic recovery.

The prices of wheat, rice and sugar remained steady during the last week in India, said state run prices movement observer, the Department of Consumer Affairs on Tuesday. According to data released by the Department of Consumer Affairs, prices of wheat and rice remained steady at most of the reporting centres. Prices of wheat decreased at Ludhiana and Rajkot and increased at Jammu, Mumbai and Chennai.

Dubai Holding's main unit posted a $6.2 billion loss for 2009 and said it may resort to asset sales, sending shares in Dubai sharply lower, in the latest setback to the emirate's troubled finances.

The proposed introduction of a bank levy and possible ways to control cross-border capital flows will top the agenda at this week's G20 finance ministers meetings, host South Korea said on Tuesday.