Finance news you need to know today

THE planned merger of travel booking sites Expedia and Orbitz has sparked monopoly fears among United States consumer advocates and hotel owners.

Expedia

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

WASHINGTON — A consumer group and hotel industry association are raising objections to the planned merger of online travel bookers Expedia and Orbitz, citing competition concerns.

OMAHA, Nebraska — Warren Buffett’s Berkshire Hathaway is buying Precision Castparts Corp for about $US32.36 billion ($A43.66 billion).

NEW YORK — Gap Inc is issuing a second-quarter earnings forecast that’s below Wall Street analysts’ estimates.

SYDNEY — Bionic ear maker Cochlear is confident of increasing its profits to between $165 million and $175 million in the year ahead, after a 56 per cent rise in 2014/15.

WELLINGTON — VMob, the NZAX-listed mobile technology company that delivers personalised, location-based digital promotional offers on behalf of the big brands, is shifting its headquarters to San Francisco.

ATHENS — Debt-ridden Greece and its creditors appear to be on track to finalising the terms of a third bailout agreement, despite the misgivings of EU paymaster Germany.

MOSCOW — Russia’s recession worsened in the second quarter as gross domestic product shrank by 4.6 per cent compared with a year earlier.

MOSCOW — Russian gas giant Gazprom’s net profit surged 71 per cent in the first quarter as a weak rouble compensated for declining sales and lower energy prices.