Finance news you need to know today

UBER is prepared to make concessions as it seeks to reverse a decision by London authorities not to renew its licence in the city.

THE Australian market looks set to open slightly higher on a weak lead from Wall Street which closed little changed as worries about Washington’s latest healthcare legislation proposal eased and investors shrugged off concerns about North Korea. At 0700 AEST on Monday, the share price futures index was up seven points, or 0.12 per cent, at 5,679.

Meanwhile, the Australian dollar is higher against its little changed US counterpart, despite a fall in iron ore prices. The local currency was trading at 79.54 US cents at 0700 AEST on Monday, from 79.46 on Friday.

WORLD FINANCE UPDATE:

LONDON — Ratings agency Moody’s has downgraded Britain’s credit rating, saying the government’s plans to bring down its heavy debt load had been knocked off course and Brexit would weigh on the economy.

LONDON — British Brexit minister David Davis says Britain’s rules and regulations will diverge from those set by the European Union after Brexit because the government “will do things our own way”.

LONDON — The pound fell to a daily low against both the US dollar and euro as investors reacted to Prime Minister’s Theresa May’s Brexit speech in Florence.

LONDON — US ride sharing firm Uber is prepared to make concessions as it seeks to reverse a decision by London authorities not to renew its licence in the city, which represents a potentially big blow for the fast-growing company.

AUCKLAND — The main pipeline that delivers jet fuel to New Zealand’s largest airport in Auckland is operational again after a rupture was repaired.

LONDON — Rupert Murdoch may have power and wealth but he also boasts legions of detractors, who say the media mogul’s tabloids and TV stations have fuelled crass celebrity culture, phone hacking and fake news.

FRIDAY HIGHLIGHTS:

FAIRFAX DOMAIN — Fairfax Media shareholders will receive one share in a newly listed Domain for every 10 Fairfax shares they own, if a vote to separate the real estate business from the news publisher is successful.

RIO TINTO — Mining giant Rio Tinto will return proceeds from the recent $US2.7 billion sale of its NSW coal operations to shareholders through a share buyback.

SEVEN WEST — Talks between Seven West and regional broadcaster Prime over combining their assets into a single media company have ended with the two unable to come to an agreement.

CBA — Commonwealth Bank could launch a share buyback in the next financial year to redistribute capital raised by the sale of its life insurance and global asset management businesses, according to UBS analysts.

NBN — NBN Co chief executive Bill Morrow was paid $3.6 million for a second straight year in 2016/17, but only a third of it was linked to how successfully the national broadband network was rolled out.

PREMIER INVESTMENTS — Heavy discounting in clothing stores and weak consumer spending are expected to weigh on Solomon Lew’s retail empire, Premier Investments, when the company unveils its full-year results on Monday.

BHP FITCH — Ratings agency Fitch has warned that BHP Billiton’s plan to divest shale gas assets combined with any increased level of shareholder payouts could impact its credit profile.