Finance news you need to know today

GENERAL Mills, which has been struggling with weaker sales for its cereal and yoghurt, plans to cut between 400 and 600 jobs around the world.

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

1. SYDNEY — The Australian dollar has risen against the safe-haven greenback as investors await the Reserve Bank of Australia’s rate announcement and economic outlook commentary. At 0725 AEDT on Tuesday, the local unit was trading at 74.73 US cents, up from 74.46 cents on Monday.

2. SYDNEY — The Australian share market looks set to open sharply higher following gains on Wall Street and the UK, Germany and France, despite initial investor concerns about the economic fallout from Italian Prime Minister Matteo Renzi’s referendum defeat and subsequent resignation. At 0725 AEDT on Tuesday, the share price index was up 51 points, or 0.94 per cent, at 5,448.

3. LONDON — Theresa May has refused to rule out the UK paying for access to the EU single market after Brexit.

4. LONDON — Bank of England Governor Mark Carney says US President-elect Donald Trump’s conclusions on international trade are wrong but it’s important for governments not to forget people who have been left behind by globalisation.

5. EVRY, FRANCE — French Prime Minister Manuel Valls has declared his bid to become the Socialist candidate for next year’s presidential election and says he is quitting the government to focus on campaigning.

6. NEW YORK — General Mills, which has been struggling with weaker sales for its cereal and yoghurt, plans to cut between 400 and 600 jobs around the world as it restructures its business.

7. NEW YORK — Russia and China have vetoed a UN Security Council resolution that would have demanded a seven-day truce in Syria’s Aleppo, with Russia arguing it would allow rebels to regroup and that time was needed for talks between Washington and Moscow.