Finance news you need to know today

CHINA has expressed “strong dissatisfaction” with the US launch of an investigation into China’s alleged theft of US intellectual property.

THE Australian market looks set to open flat after Wall Street ended mainly highly following a quietish session with little news to act as a driver. At 0700 AEST on Tuesday, the share price futures index was up four points, or 0.07 per cent, at 5,684.

Meanwhile, the Australian dollar has continued to lift against its US counterpart, which has weakened in the overnight session. The local currency was trading at 79.39 US cents at 0700 AEST on Tuesday, from 79.20 on Monday.

WORLD FINANCE UPDATE:

BEIJING — China has expressed “strong dissatisfaction” with the US launch of an investigation into China’s alleged theft of US intellectual property, calling it “irresponsible”.

LOS ANGELES — Johnson & Johnson has been was ordered by a California jury to pay $US417 million ($A525 million) to a woman who claimed she developed ovarian cancer after using the company’s talc-based products like Johnson’s Baby Powder for feminine hygiene.

LONDON — French oil company Total has agreed to buy the oil & gas division of Danish conglomerate AP Moller-Maersk for $US7.45 billion ($A9.39 billion), in a deal that will shore up its position in the deep waters of the North Sea.

MONDAY HIGHLIGHTS:

BLUESCOPE — Shares in BlueScope Steel have slid more than 20 per cent despite its full year profit more than doubling, after the company offered a rare cloudy outlook on the back of rising costs.

FORTESCUE — Fortescue Metals has flagged it will sustain higher payouts for shareholders after a rebound in iron prices and lower costs helped it more than double full- year profit.

ACCC NBN — Internet providers will have to advertise minimum download speeds NBN customers can expect at peak times or potentially face prosecution, under new guidelines set by the consumer watchdog.

APN OUTDOOR — APN Outdoor’s failed merger bid with oOh!media has added to a 19 per cent dent in its first-half profit, despite strong digital growth and a welcome bump from its billboard business.

BRAMBLES — Brambles shares have fallen after the logistics firm’s full-year profit slid 69 per cent, weighed down by challenging operating conditions in the US pallets division and a writedown of its North America recycled pallets business.

GOODMAN — Commercial and industry property group Goodman says its operating profit has risen almost nine per cent, and it expects further growth in the 2018 financial year.

G8 EDUCATION — Sluggish wages growth and the federal government’s cap on benefits have led to fewer children going to childcare centres, says G8 Education.

VOCUS — Investors have dumped shares in Vocus after Australia’s fourth-biggest telco ended a $2.2 billion bidding war for the company, saying the two suitors were unable to support the buy on the board’s terms.

NIB — Ageing Australia’s steadily rising rate and cost of health insurance claims is expected to weigh on earnings growth for health insurer nib in the current year, along with investments in new ventures and technology.

GWA — Bathroom and kitchen fittings supplier GWA Group expects residential construction to slow but says a buoyant renovations market should keep demand for its products strong.

BLUESCOPE OMALLEY — Longstanding Bluescope Steel CEO Paul O’Malley will retire at the end of 2017, handing over leadership of the rejuvenated metals group to current Australia-New Zealand boss Mark Vassella.

HOUSING PRICES — Activity in Australia’s housing market is picking up, with a rise in house prices across most capitals in the past week and a continuing climb in the number of auctions resulting in a sale.