Finance news you need to know today

THE tiny European nation of Slovenia is undergoing a tourism boom partly because it’s the native country of US first lady Melania Trump.

THE Australian market looks set to open flat, ahead of the Reserve Bank of Australia’s interest rate announcement, after the Dow hit a record high but selling in the tech giants pulled the Nasdaq down. At 0700 AEST on Tuesday, the share price futures index was down one point, or 0.02 per cent, at 5,660.

Meanwhile, the Australian dollar is creeping higher against its US counterpart. The local currency was trading at 80.02 US cents at 0700 AEST on Tuesday, from 79.80 on Monday.

WORLD FINANCE UPDATE:

LONDON — The automatic right of European Union citizens to live and work in Britain will end in March 2019 with Brexit, Prime Minister Theresa May’s spokesman says, after her ministers publicly differed over the shape of the divorce with the EU.

WASHINGTON, DC — The US government has slapped sanctions on Venezuelan President Nicolas Maduro, the Trump’s administration’s toughest move so far against his government in response to Sunday’s election of a legislative superbody Washington denounced as a “sham” vote.

LONDON — Staff at the Bank of England are set to hold their first strike in more than 50 years in a push for higher pay, highlighting the growing pressure to end tight controls on public-sector wages in Britain.

LOS ANGELES — Discovery Communications is buying fellow channel operator Scripps Networks Interactive for $US14.6 billion ($A18.3 billion).

LJUBLJANA — The tiny European nation of Slovenia is undergoing a tourism boom partly because it’s the native country of US first lady Melania Trump.

MONDAY HIGHLIGHTS:

ORIGIN ENERGY — Origin Energy has lifted full-year oil and gas production by 40 per cent to 323 petajoules, helped by the ramp-up of operations at its Australia Pacific liquefied natural gas project and better-than-expected output from its conventional oil and gas business.

SIRTEX — Sirtex Medical is facing two class actions over allegations the biotech company engaged in misleading and deceptive conduct in relation to missed sales forecasts for 2016/17 that sparked a share price plunge.

OLIVERS — Shares in healthy fast food chain Oliver’s Real Food have taken a hit after the recently-listed company warned it will not meet its earnings, profit and revenue forecasts for 2016/17.

RETAIL — Retail sales are showing signs of a recovery following 18 months of easing sales growth, according to latest figures from Australia’s peak food and grocery body.

HOUSING PRICES — Home prices fell in most of Australia’s major capital cities in the past week except in Adelaide, while auction clearance rates improved slightly.

COCHLEAR — Hearing implant maker Cochlear’s chief executive, Chris Smith, will retire from his job on January 2, 2018, to be replaced by chief operating officer, Dig Howitt.

ECONOMICS — A senior Reserve Bank of Australia executive has warned that a decline in high school economics, as students opt for business studies instead, has implications for the future of public debate and good policy development.

HOME SALES — New home sales have fallen in June to their lowest level since October 2013, according to the latest Housing Industry Association report.

COCA-COLA — Coca-Cola Amatil is among major beverage companies that will oversee the NSW government’s incoming container deposit scheme.

INFIGEN — Shares in wind farm operator Infigen Energy have rebounded from an early session fall amid news that record low wind generation had resulted in a 36 per cent slump in quarterly revenue.