Finance news you need to know today

AN AUSTRALIAN couple with roots in Alaska has broken a longstanding barrier to full foreign ownership of US radio stations.

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

1. SYDNEY — Australian shares look set to open comfortably higher the day after almost $30 billion was wiped off the market and the S&P/ASX200 suffered its worst one-day performance since November 9. At 0700 AEDT on Thursday, the share price futures index was up 19 points, or 0.33 per cent, at 5,687 points.

2. SYDNEY — Meanwhile, the Australian dollar is higher against its US counterpart which has fallen 0.2 per cent against a basket of currencies on concern over the prospects for President Trump’s economic growth strategy. The local currency was trading at 76.80 US cents at 0700 AEDT on Thursday, from 76.60 on Wednesday.

3. LONDON — Growing doubts US President Donald Trump will be able to deliver on a promise of tax cuts that has powered stocks markets to record highs pushed shares lower on Wednesday and drove investors to seek safety in government debt, gold and the yen.

4. AMSTERDAM — A corruption investigation into ING Groep includes past “irregular transactions” between telecoms company VimpelCom and Uzbek officials, Dutch prosecutors say.

5. JUNEAU, Alaska — An Australian couple with roots in Alaska has broken a longstanding barrier to full foreign ownership of US radio stations. The Federal Communications Commission recently approved a request by Richard and Sharon Burns through their company Frontier Media to increase their interest in 29 radio stations in Alaska, Texas and Arkansas from 20 percent to 100 percent.