Finance news you need to know today

AGL Energy has sent a strong signal that its ageing Liddell coal-fired power plant is unlikely to operate beyond 2022.

THE Australian share market looks set to open higher, following Wall Street’s positive lead amid investor confidence following the release of US president Donald Trump’s tax plan. At 0700 AEST on Thursday, the share price futures index was up 20 points, or 0.35 per cent, at 5,661.

Meanwhile, the Australian dollar has slipped a little further against its US counterpart, which has enjoyed a boost from hopes around President Trump’s tax plan. The local currency was trading at 78.49 US cents at 0700 AEST on Thursday, from 78.56 on Wednesday.

WORLD FINANCE UPDATE:

WASHINGTON, DC — United States President Donald Trump said wealthy Americans would not benefit under his tax plan and that he would not negotiate on the Republicans’ tax framework proposal to lower the corporate tax rate to 20 per cent.

WASHINGTON, DC — US durable goods orders rose 1.7 per cent in August, reflecting a rebound in the volatile aircraft sector.

DUBLIN — Ryanair will cancel another 18,000 flights between November and March, affecting the travel plans of another 400,000 passengers.

BRUSSELS — The European Commission has fined Swedish truck maker Scania 880 million euros ($A1.31 billion) for participating in a truck pricing cartel.

WEDNESDAY HIGHLIGHTS:

AGL — AGL Energy has sent a strong signal that its ageing Liddell coal-fired power plant is unlikely to operate beyond 2022 after unveiling plans for a largely gas and renewables-based replacement.

ENERGY — Major gas exporters on Australia’s east coast have agreed to a two-year supply deal to ensure there is no shortfall of gas in the domestic market after talks with the federal government.

TEN — Failed Ten Network bidders Bruce Gordon and Lachlan Murdoch may be analysing their own independent expert’s report ahead of making a decision on challenging the sale of Ten to CBS, a court has heard.

PREMIER INVESTMENTS — Solomon Lew’s retail group Premier Investments has asked for Myer’s list of shareholders in a sign it may push for a seat on the board of the struggling department store.

DEBBIE INSURANCE — More than 75 per cent of almost $1.5 billion in claims from Cyclone Debbie have been paid out, six months after the storm smashed the north Queensland coast and wreaked havoc as it moved south.

AFTERPAY — Target is the latest major retailer to adopt fintech firm Afterpay Touch’s online lay-by payments system.

DELIVERY — Restaurants are cashing in on the food delivery boom driven by the likes of Deliveroo and UberEATS, as the fast food industry proves slow to adapt.