Finance news you need to know today

WALMART is diving into voice-activated shopping with Google to offer hundreds of thousands of items through Google Assistant

THE Australian market looks set to open higher despite falls on Wall Street where investors were unnerved by President Trump’s comment that he was prepared to shut down government to fund his Mexico border wall.

At 0700 AEST on Thursday, the share price futures index was up eight points, or 0.14 per cent, at 5,704. Meanwhile, the Australian dollar has crept above the 79 US cent mark, again The local currency was trading at 79.05 US cents at 0700 AEST on Thursday, from 78.92 on Wednesday.

WORLD FINANCE UPDATE:

WASHINGTON, DC — Senate Democratic leader Chuck Schumer says President Donald Trump’s threat to shut down the government if he does not secure funding for a border wall with Mexico would lead to a shutdown that “nobody will like”.

WASHINGTON, DC — US President Donald Trump’s threat to scrap the NAFTA trade pact is little more than a negotiating tactic, aimed at his political base, that should neither scare nor surprise Mexico, the country’s foreign minister says.

EDINBURGH — Scotland’s budget deficit has narrowed in the year to March but the gap remains more than triple the size of that for the United Kingdom as whole, potentially hampering arguments for Scottish independence.

BRUSSELS — The European Commission has rebuffed the idea of a parallel currency put forward by former Italian prime minister Silvio Berlusconi.

NEW YORK — Walmart is diving into voice-activated shopping with Google to offer hundreds of thousands of items for voice shopping through Google Assistant.

SEOUL — Samsung Electronics wants to wipe the slate clean with the launching of a new Galaxy Note 8 phablet, hoping features such as dual rear cameras and its biggest-ever screen will extinguish memories of its fire-prone predecessor.

WEDNESDAY HIGHLIGHTS:

WOOLWORTHS — More customers are choosing to shop at Woolworths than Coles after the supermarket giant’s heavy food discounting and major revamp of its own brands pays off.

COCA COLA AMATIL — Coca-Cola Amatil says new products will boost its performance in the second half of 2017 after its half year profit dropped 29 per cent drop because of weaker soft drink and water sales.

BEGA — Bega Cheese boss Barry Irvin is keeping a close eye on struggling rival Murray Goulburn as he casts around for expansion opportunities for his growing and -this year — highly profitable company.

A2 MILK — Shares in The A2 Milk Company have hit a record high after a boom in infant formula demand in China and Australia almost tripled its annual profit to $NZ90.6 million ($A83.1 million).

BHP BILLTON KING — Former Origin Energy chief executive Grant King has opted not to stand for re- election at BHP’s annual general meeting after investors expressed some concerns during his five months on the board.

IAG — IAG will use higher motor insurance premiums to address the increased cost of claims that pushed down its full-year underlying insurance margin.

STAR — Casino operator The Star Entertainment Group hopes well-heeled Asian tourists will help compensate for the VIP high-rollers who stopped visiting following the detention of rival Crown Resorts staff in China.

STAR COMM GAMES — Casinos operator The Star Entertainment Group expects the 2018 Commonwealth Games to generate “phenomenal” activity at its refurbished Gold Coast casino and hotel.

REJECT SHOP — Discount retailer The Reject Shop says it has failed to get its product range right amid a decline in consumer spending.

HEALTHSCOPE — Shares in private hospital operator Healthscope have fallen to a record low after its full-year profit dropped 39 per cent to $110.9 million, affected by an impairment from the sale of its medical centres business and other costs.

VOCUS — Vocus Group has reported a net loss of $1.46 billion after making heavy write downs on goodwill for some of its recent acquisitions and abandoned paying a dividend to redirect funds to projects and debt reduction.

TASSAL — Salmon farmer and marketer Tassal expects bigger fish and the premium prices that they attract, especially in export markets, will help the company achieve another record financial result in the current financial year.

CBA AUSTRAC — Commonwealth Bank could face what legal firm Maurice Blackburn says may be Australia’s largest ever shareholder class action over its alleged failure to inform its 800,000 investors about AUSTRAC’s accusations it breached money laundering and terrorism financing laws.

APA GROUP — APA Group is focusing on adding supply deals with customers despite regulatory challenges, as it looks to build on investments and an expanded asset base that yielded strong full-year profit growth.

SIRTEX — Shares in liver cancer treatment developer Sirtex Medical have plunged after it ended a challenging year with a $26.3 million loss.

QUBE — Logistics group Qube Holdings expects to continue its improvement in underlying profit this year and will boost spending at its Sydney freight interchange, where it has just signed department store Target as a major customer.