Finance news you need to know today

POLICE in northern Germany say that a Tesla driver is blaming the car’s Autopilot after crashing into the rear of a bus on a highway.

HERE are 10 things making news in business and finance today.

1. SYDNEY — The Australian dollar has fallen against the US dollar. At 0635 AEST on Friday, the local unit was trading at 76.39 US cents, down from 76.64 cents on Thursday.

2. SYDNEY — The Australian market looks set to open lower after Wall Street fell weighed down by Apple as well as selling in Wells Fargo, Citigroup and other major banks as investors worried about the health of Deutsche Bank. At 0645 AEST on Friday, the share price index was 3. WASHINGTON — US economic growth was less sluggish than previously thought in the second quarter as exports grew more than imports and businesses raised their investments, hopeful signs for the economic outlook.

4. WASHINGTON — More Americans sought unemployment benefits last week but the number of applications remains low, the latest sign that lay-offs are scarce.

5. BRUSSELS — A planned reform of global banking rules being discussed by the United States, Europe, Japan and other major economies risks negatively affecting European banks and needs to be changed, the EU financial services commissioner says.

6. FRANKFURT — Commerzbank, Germany’s second largest bank, partly owned by the German government, says restructuring will cut 9600 fulltime jobs.

7. LONDON — A $US24 billion ($A31 billion) deal to build Britain’s first new nuclear power station in decades has been signed behind closed doors in London in a low-key ceremony that underlined Prime Minister Theresa May’s cautious approach to the Franco-Chinese project.

8. PURCHASE, US — PepsiCo has reported soaring third-quarter profits that breezed past almost all expectations.

9. DETROIT — Volvo is recalling about 127,000 cars and SUVs worldwide because the air conditioning can leak water into the vehicles and cause airbags to malfunction.

10. BERLIN — Police in northern Germany say that a Tesla driver is blaming the car’s Autopilot after crashing into the rear of a bus on a highway.