Finance news you need to know today

THE Trump administration has selected four construction companies to build concrete prototypes for the Mexico border wall.

THE Australian share market look set to open higher, following Wall Street’s lead where investor confidence helped the S&P 500 notch five days of gains for the first time in three months. At 0700 AEST on Friday, the share price futures index was up five points, or 0.09 per cent, at 5,693.

Geopolitical tensions and US data weighed on the US dollar, however, with North Korea still not officially backing down and after Trump’s administration prompted drama with Russia by ordering the closure of three Russian diplomatic facilities in the US. At 0700 AEST on Friday, the Australian dollar was worth 79.47 US cents, up from 79.01 US cents on Thursday.

WORLD FINANCE UPDATE:

WASHINGTON, DC — The Trump administration is announcing sharp cuts in programs promoting health care enrolment under the Affordable Care Act for next year.

WASHINGTON, DC — The Trump administration has selected four construction companies to build concrete prototypes for a wall on the US border with Mexico, US Customs and Border Protection say.

WASHINGTON, DC — The United States has told Russia to close its consulate in San Francisco and two annex buildings in Washington and New York, a response to Moscow last month ordering cuts in the US diplomatic mission in Russia.

LONDON — Samsung’s new fitness wearables are a direct challenge to Apple and other smartwatches, according to industry experts.

NEW YORK — Facebook has launched its Watch video service to US users with plans to allow people to submit shows, as the No. 1 social media network vies with YouTube for advertising revenue.

MADRID — Spanish authorities were warned by the CIA that Islamic State was planning an assault well in advance of the recent terrorist attack in Barcelona, Spanish media reports.

THURSDAY HIGHLIGHTS:

HARVEY NORMAN — Harvey Norman boss Gerry Harvey says overseas business could account for more than half of his retail empire’s profits in five to 10 years.

CAPEX — Australian business investment has lifted for the second straight quarter, prompting some economists to upgrade economic growth forecasts.

NBN — The company building the national broadband network says it is confident the rollout will be completed by 2020 and for about $49 billion after trimming its cost forecasts.

QANTAS — Qantas is changing one of its most popular routes and upgrading the aircraft on another key service as part of a five-year extended partnership with Emirates.

ARDENT LEISURE — Ardent Leisure’s bowling and games centres in Texas have taken a battering from Hurricane Harvey.

WELLARD — Australia’s biggest cattle exporter, Wellard, says the China market has potential but only if prices for Australian cattle come down.

WEBJET — Online travel booking business Webjet has more than doubled its full-year profit to $52.4 million, helped by strong bookings growth and integration of its Online Republic acquisition.

CLEAN SEAS — Increased sales and higher prices have helped Clean Seas Seafood rebound from a $9 million annual loss, and the kingfish farmer expects significant improvement in the year ahead.

AUSTRALIAN ETHICAL — Growing competition in the responsible investing sector has not hampered fund manager Australian Ethical Investments, which has increased its full-year revenue by 23 per cent.