Finance news you need to know today

VERIZON Communications has agreed to buy the core internet business of Yahoo for $5.85 billion, about $456 million less than the original price.

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

1. SYDNEY — The Australian market looks set to open sharply higher, following strong gains on Wall Street on the view the Federal Reserve might raise its key interest rate in March. At 0700 AEDT on Wednesday, the share price futures index was up 26 points, or 0.45 per cent, at 5,765.

2. SYDNEY — Meanwhile, the Australian dollar is higher against its US counterpart, the yen and the euro but flat against the British pound. The local currency was trading at 76.82 US cents at 0700 AEDT on Wednesday, from 76.70 on Tuesday.

3. BRUSSELS — A closely watched survey is showing that the economic recovery in the eurozone has accelerated in February and that growth is running at a near six-year high.

4. OSLO — Norway would like to have the option to be included in any arrangements between Britain and the European Union as they negotiate a new relationship, a government minister says.

5. NEW YORK — Verizon Communications, the No.1 US wireless carrier, said on Tuesday it agreed to buy the core internet business of Yahoo for $US4.48 billion ($5.85b), about $350 million less than the original price.

6. NEW YORK — Wells Fargo & Co has fired four mid-level executives and stripped them of bonuses and stock awards as a result of an investigation into improper sales practices in its retail bank, according to a company announcement.