Finance news you need to know today

BITCOIN’S relentless rise is continuing with the cryptocurrency shooting past the $US16,000 mark, adding to fears of a dangerous bubble.

THE Australian share market looks set to open higher with positive sentiment carrying over from the previous session and following gains on Wall Street. At 0700 AEDT on Friday, the share price futures index was up 17 points, or 0.28 per cent, at 5,998.

Meanwhile, a weaker Australian dollar is flirting with the 75 US cent mark. The local currency was trading at 75.08 US cents at 0700 AEDT on Friday, from 75.44 on Thursday.

WORLD FINANCE UPDATE:

LONDON — Bitcoin’s relentless rise is continuing with the cryptocurrency shooting past the $US16,000 ($A21,000) mark, adding to fears of a dangerous market bubble.

COPENHAGEN — Lego has won a landmark case in China against two companies that manufactured and sold toys almost identical to its LEGO Friends range but branded Bela.

LONDON — Uber’s licence to operate in the northern English city of Sheffield was suspended last Friday after it failed to respond to requests about the management of the taxi app, the local authority said.

WELLINGTON — Air New Zealand is now the latest airline to suffer from problems with Rolls-Royce Trent 1000 engines, saying"two recent events” has prompted it to cancel or delay some flights over the coming weeks.

THURSDAY HIGHLIGHTS:

TRADE — Australia’s trade surplus has shrunk to its lowest level in six months following a drop in mining exports, but economists are hopeful it will not dent economic growth in the December quarter.

FOXTEL ACCC — The proposed merger between Foxtel and Fox Sports Australia won’t be opposed by the consumer watchdog because it believes the deal will not reduce competition.

NUFARM — Nufarm shares have fallen after the agricultural chemicals supplier warned its half-year earnings would suffer from weak November trade and the shutdown of manufacturing facilities outside Melbourne.

YOWIE — Australian chocolate maker Yowie is stepping up its expansion in the US, quadrupling the number of Target stores stocking its character-themed treats and moving into more than 8,000 convenience stores.

CONSTRUCTION AI — Growth in engineering construction has hit a fresh high in November, helping to bolster overall construction activity despite a continuing decline in apartment building.

AUSCANN — Shares in medicinal marijuana group AusCann have soared after it said it now has all licences required to grow cannabis and make medicines in Australia.

ASX — The company that operates the Australian stock market plans to update its shareholder recording systems using similar technology to that which underpins bitcoin and other cryptocurrencies.

CATCH GROUP — Australian e-commerce companies Catch and Lux have formed a partnership to expand their reach, and giving them each a combined 2.5 million active customers.