Finance news you need to know today

BUILDERS in the United States broke ground on fewer developments last month, a possible sign that the housing market may be plateauing.

Building activity in the United States has slowed.

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

1. SYDNEY — The Australian dollar briefly hit a four-week high after the US Federal Reserve kept its interest rate unchanged.

At 0630 AEST on Friday, the currency was trading at 71.72 US cents, down from 71.85 cents on Thursday.

2. SYDNEY — The Australian share market looks set to open flat after Wall Street closed mainly slightly lower following the Federal Reserve’s decision to keep its benchmark interest rate on hold.

3. WASHINGTON — The Federal Reserve has held its key interest rate at zero, citing worries about how the slowdown in China will hit the US economy.

4. WASHINGTON — New claims for US unemployment insurance benefits tumbled last week, continuing to point to a tightening labour market as the Federal Reserve mulls an interest rate hike.

5. WASHINGTON — Builders in the US broke ground on fewer houses and apartment complexes in August, a possible sign that the housing market may be levelling off after accelerating for much of the year.

6. WASHINGTON — For the second straight week, average long-term US mortgage rates inched up this week as financial markets awaited the Federal Reserve’s crucial decision on interest rates.

7. WASHINGTON — General Electric says it will create up to 1000 aviation jobs in Europe, the latest blow to the US jobs market after Congress shut down the Export-Import Bank.

8. WASHINGTON — The International Monetary Fund says it will work with any Greek government resulting from Sunday’s election, but remains mum about its participation in another bailout of the country.