Finance News Update, what you need to know

(Australian Associated Press)

WORLD FINANCE UPDATE:

The Australian dollar has lost a little ground, slipping back below the 74 US mark, as its US counterpart holds steady against a basket of currencies .

At 0635 AEDT on Wednesday, the local unit was trading at 73.96 US cents, down from 74.02 cents on Tuesday.

The Australian market looks set to open higher after Wall Street crept upwards in its session.

At 0645 AEDT on Wednesday, the share price index was up six points at 5,427.


ELSEWHERE:

TOKYO – An ambitious Asia-Pacific trade pact linking the United States, Australia and 10 countries lies in tatters after US President-elect Donald Trump says he’ll the deal on his first day in office.

NEW YORK CITY – US President-elect Donald Trump thinks there is some connection between climate change and human activity and “clean air is vitally important,” a New York Times reporter has tweeted.

MADRID – Spanish police have arrested a man suspected of being a “financial mastermind” in a corruption network at Brazil’s semi-public oil company Petrobras , the Interior Ministry says.

FRANKFURT – Lufthansa is cancelling more than a third of its flights due to a 24-hour strike by its pilots, the latest disruption to its operations to be caused by a long-running pay dispute.

TAIPEI – Taiwanese airline TransAsia has announced it is shutting down following financial losses and two fatal crashes.

VIENNA – The Swiss are the richest people in the world, with an average wealth of $US561,900 ($A759,015) per adult, Credit Suisse says in its annual global wealth report, confirming Switzerland’s top ranking for the 16th year in a row.

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