Finance news you need to know today

DISCOUNT supermarket chain Aldi is opening up its pantry to Channel Seven for the first season of Hell’s Kitchen.

THE Australian market looks set to open slightly higher after a mixed lead from Wall Street where the Dow Jones Industrial Average closed above 22,000 for the first time. At 0700 AEST on Thursday, the share price futures index was up 11 points, or 0.19 per cent, at 5,692.

Meanwhile, the Australian dollar has fallen further against its US counterpart. The local currency was trading at 79.67 US cents at 0700 AEST on Thursday, from 79.71 on Wednesday.

WORLD FINANCE UPDATE:

WASHINGTON, DC — US President Donald Trump has grudgingly signed into law new sanctions against Russia that Congress had approved overwhelmingly last week, criticising the legislation as having “clearly unconstitutional” elements.

WASHINGTON, DC — US businesses added a solid 178,000 jobs in July, evidence employers remain confident enough about future demand to keep hiring.

NEW YORK CITY — The Dow Industrials have breached the 22,000 mark for the first time ever, boosted by a rally in Apple’s shares.

LOS ANGELES — Rapper Kanye West has sued Lloyd’s of London for nearly $10 million in insurance payouts he claims he is owed after cancelling his tour last year when he was hospitalised with a “serious, debilitating medical condition.”

WEDNESDAY HIGHLIGHTS:

RIO TINTO — Mining giant Rio Tinto is set to post a sharp lift in profitability at its half- year results on Wednesday, helped by better commodity prices during the period.

RESMED — Respiratory face mask and machine maker ResMed has lifted its annual revenue and quarterly dividend but annual net profit is lower.

YANCOAL — Yancoal is seeking $US2.5 billion ($A3.1 billion) from investors to fund its “strategically compelling” purchase of Coal & Allied from mining giant Rio Tinto.

BUILDING APPROVALS — Approvals for the construction of new homes bounced 10.9 per cent in June, giving little indication the housing market is cooling.

GENWORTH — Genworth Mortgage Insurance has suffered a 34.7 per cent slump in half-year profit as adverse portfolio revaluations, higher delinquencies and a slip in premiums.

KELLY — Gail Kelly never planned to write a book but after a career stretching from schoolteacher in South Africa to Australia’s first female bank CEO, the former Westpac boss felt she had something to say.

APN OUTDOOR — Billboard advertiser APN Outdoor is searching for a new chief executive after Richard Herring decided to step down at the end of September.

ALDI — Discount supermarket chain Aldi is opening up its pantry to Channel Seven for the first season of Hell’s Kitchen, in a strategic move to maintain pressure on rivals Coles and Woolworths.

ASIC QBE — Insurance giant QBE will pay up to $15.9 million in refunds to customers who paid for add-on insurance when buying a car that provided little or no benefit.