Finance news you need to know today

BHP Billiton’s part-owned Brazilian mining company has promised to pay $366 million as compensation for its dam burst disaster, after dramatic protests.

Protesters throw muddy water on the facade of Brazilian mining company Vale headquarters next to a sign reading "How much does a life cost?" in Rio de Janeiro. Picture: Yasuyoshi Chiba

HERE are eight things making news in business and finance around the world today.

1. RIO DE JANEIRO — Brazilian mining firm Samarco has promised to pay at least $366 million (US $260 million) for environmental damage from the bursting of two dams it operated, which unleashed torrents of waste that flattened a village.

The deal came after protesters converged on the headquarters of Vale, the Brazilian company that owns Samarco along with Australia’s BHP Billiton, flinging mud at the company’s head office in dramatic scenes yesterday.

Ten people were killed in the deadly November 5 disaster, when two dams at a waste reserve burst in the southeastern region of Minas Gerais, unleashing a deadly torrent of toxic mud that killed ten people.

2. SYDNEY — The Australian dollar has fallen back below 71 US cents, amid nervousness about the impact of the recent Paris attacks on market confidence.

At 0630 AEDT on Tuesday, the local unit was trading at 70.95 US cents, down from 71.14 cents on Monday.

3. BELEK — The leaders of the world’s largest economies have struck to a goal of lifting their collective output by an extra two per cent by 2018, even though growth remains uneven and weaker than expected globally, at the G20 summit in Turkey.

4. MANILA — Business leaders in the Asia-Pacific are losing confidence in their revenue prospects because of China’s cooling economy and perceived higher risks in emerging markets, a survey shows.

5. BRUSSELS — Official figures show that inflation in the 19-country eurozone was 0.1 per cent in the year to October, slightly higher than the initial estimate of no change.

6. WASHINGTON — The International Monetary Fund welcomed an offer by Russia to restructure Ukraine’s debt as a positive step.

7. OMAHA — Investor Warren Buffett’s Nebraska-based company sold some of its Goldman Sachs and Wal-Mart shares during the third quarter, and made several smaller changes to its stock portfolio.

8. NEW YORK — Marriott International is buying rival hotel chain Starwood for $17.15 billion ($US 12.2 billion) in a deal that will secure its position as the world’s largest hotelier.