Finance news you need to know today

VERIZON has agreed to buy troubled Yahoo Inc for about $6.67 billion, in a deal likely to end the four-year reign of chief executive Marissa Mayer.

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

1. SYDNEY — The Australian dollar is slightly lower. At 6.34am, the local unit was trading at 74.62 US cents, down from 74.81 cents on Friday.

2. SYDNEY — The Australian market looked set to open slightly higher following gains on Wall Street which clinched its fourth straight positive week, boosted by strength in telecom stalwarts AT&T and Verizon. At 6.45am on Monday, the share price index was up four points at 5,471.

3. CHENGDU — The world’s biggest economies will work to support global growth and better share the benefits of trade, policymakers say after a meeting in Chengdu, China dominated by the impact of Britain’s exit from Europe and fears of rising protectionism.

4. CHENGDU — Group of 20 finance ministers say taxation policies should be improved worldwide to reflect globalisation and promote socially balanced, sustainable economic growth.

5. CHENGDU — Britain’s new finance minister Philip Hammond, under pressure from his peers from around the world, says there could be more clarity later this year on how the country will exit the European Union.

6. CHENGDU — Turkey wanted the final G20 communiqué of the world’s financial leaders meeting in China to include an endorsement of the current government after the failed coup attempt, but did not succeed.

7. TUNIS — Libya’s hopes to boost crude exports have been dealt a blow after the head of the National Oil Corporation (NOC) objected to a deal between the government and local guards to reopen key ports.

8. NEW YORK — British Foreign Secretary Boris Johnson says he expects the UK to retain the right for its financial firms to sell services across European Union member states after Britain’s exit from the bloc.

9. NEW YORK — Verizon has agreed to buy online portal Yahoo Inc for roughly $6.67 billion ($US5 billion), according to multiple media reports, each citing a single unnamed source. The deal is likely to end the four-year reign of Yahoo CEO Marissa Mayer, a former Google executive who flopped in her attempts to turn around the Sunnyvale, California, company.

10. SAN FRANCISCO — Authorities want people who rent out their homes through Airbnb and other online platforms to follow some rules, and for the platforms to advertise only those rule-abiding listings — or face steep fines.