Finance news you need to know today

GERMAN Chancellor Angela Merkel has urged European Union nations to stick together in the face of emerging policy divisions with the US.

German Chancellor Angela Merkel drinks from a beer mug at the Trudering fest on 28 May 2017 in Munich, Germany. Picture: Sebastian Widmann/Getty Images

THE Australian market looks set to open slightly higher following a rebound in oil prices and after Wall Street’s last session ended positively, though barely changed.

At 0700 AEST on Monday, the share price futures index was up seven points, or 0.12 per cent, at 5,763.

Meanwhile, the Australian dollar has inched slightly higher against its US counterpart amid rebounding oil prices. The local currency was trading at 74.43 US cents at 0700 AEST on Monday, from 74.38 on Friday.

ELSEWHERE:

TAORMINA, ITALY — Under pressure from allies, US President Donald Trump has backed a pledge to fight protectionism but refused to endorse a global climate change accord, saying he needs more time to decide.

BERLIN — German Chancellor Angela Merkel has urged European Union nations to stick together in the face of emerging policy divisions with the US, Britain’s decision to leave the bloc and other challenges.

MOSCOW — Russia has completed the maiden flight of its new MS-21 medium-range passenger plane, its first foray into main line commercial aircraft since the collapse of the Soviet Union.

LONDON — Disruption continued at Heathrow after a British Airways IT failure grounded scores of planes and left thousands stranded.

WASHINGTON — The United States might ban laptops from aircraft cabins of all flights into and out of the country, John Kelly, Secretary of Homeland Security, says.