Finance news you need to know today

SIX environmental groups have filed a lawsuit against the Trump administration to challenge the controversial Keystone XL pipeline.

HERE are six things making news in business and finance today.

1. SYDNEY — The Australian market looks set to open modestly higher after Wall Street gained following an unexpectedly strong revision upwards of last year’s fourth economic growth figures. At 0700 AEDT on Friday, the share price futures index was up nine points, of 0.15 per cent, at 5,889.

2. SYDNEY — Meanwhile, the Australian dollar is virtually unchanged against its US counterpart which lifted in the New York session thanks to an unexpectedly strong gross domestic product figures. The local currency was trading at 76.50 US cents at 0700 AEDT on Friday, from 76.57 on Thursday.

3. LONDON — The British government has set out how it will handle the mammoth task of converting European Union laws into domestic legislation in preparation for its exit from the bloc.

4. PARIS — French President Francois Hollande has told British Prime Minister Theresa May that talks on future trade relations with the EU must come after the negotiation of a divorce deal.

5. WASHINGTON — Six environmental groups have filed a lawsuit against the Trump administration to challenge its decision to approve construction of the controversial Keystone XL pipeline.

6. NEW YORK — Samsung has unveiled its Galaxy S8 smartphone as it battles to regain the market leadership it lost to Apple after the embarrassing withdrawal of the fire-prone Note 7s.