Finance news you need to know today

FOUR automakers have agreed to a $553 million settlement relating to nearly 16 million recalled vehicles with potentially defective Takata airbags.

THE Australian share market is set to open flat, with investors likely uncertain about the direction despite a strong lead from Wall Street.

At 0700 AEST on Friday, the local share price futures index was down 3 points, or 0.05 per cent, at 5,727.

The Australian dollar has slipped back against the US dollar, which rebounded along with the major US share markets following appointment of a special counsel to head a key federal investigation in the US.

At 0700 AEST, the local unit was trading at 74.17 US cents, down from 74.47 US cents on Thursday.

ELSEWHERE:

PARIS — A parliamentary majority looks to be within reach for centrist French President Emmanuel Macron in next month’s legislative election, opinion polls indicated as his cross-partisan government held its first meeting.

BRASILIA — Brazil’s President Michel Temer on Thursday defiantly said he would not resign from office despite a Supreme Court decision authorising an investigation into allegations he condoned bribery of a potential witness in a major corruption probe.

WASHINGTON — Four automakers agreed to a $553 million settlement to address class-action economic loss claims covering owners of nearly 16 million recalled vehicles with potentially defective Takata airbag inflators, according to court documents filed on Thursday WASHINGTON — Making good on a campaign promise, the Trump administration formally told Congress Thursday that it intends to renegotiate the North American Free Trade Agreement with Canada and Mexico.

PARIS — New Ecology Minister Nicolas Hulot said on Thursday France would seek to reduce the share of nuclear in the power mix to 50 per cent by 2025 and would close its oldest nuclear power plant.