Finance news you need to know today

YOWIE Group has again slashed its full-year revenue growth forecast despite exceeding expectations in its return to Australian supermarkets.

THE Australian market looks set to open higher despite Wall Street’s Dow and S&P 500 closing lower, pulled down by another sharp fall in oil prices. At 0700 AEST on Thursday, the share price futures index was up 18 points, or 0.32 per cent, at 5,622.

Meanwhile, the Australian dollar continues its fall against its US counterpart despite the greenback’s underperformance in the offshore session. The local currency was trading at 75.52 US cents at 0700 AEST on Thursday, from 75.67 on Wednesday.

WORLD FINANCE UPDATE:

LONDON — British Prime Minister Theresa May plans to give her government the powers to intervene in the takeover of any critical infrastructure by a foreign buyer to enable it to protect national security.

WASHINGTON — Uber CEO and co-founder Travis Kalanick has resigned under pressure from investors.

NEW YORK — Apple Inc will soon start selling wireless plans from Virgin Mobile USA, the first new carrier offered by the iPhone maker’s since 2013, the companies say.

WEDNESDAY HIGHLIGHTS:

QBE — QBE has had almost $1.9 billion wiped off its market value after the insurer cut its full-year guidance on the back of higher-than-expected claims from its emerging markets division.

RIO TINTO — Rio Tinto has rebuffed a late offer from Glencore for its NSW coal operations and instead agreed to go ahead with its existing deal with China’s Yancoal. Meanwhile, Rio Tinto director John Varley has stepped down from the mining giant’s board after being charged in a high-profile UK corruption investigation.

TEN — Notices seeking potential buyers or financiers for the Ten Network will appear in national newspapers on Thursday as administrators begin the process of trying to keep the troubled free-to-air broadcaster afloat.

ENERGY — Shares in some of Australia’s largest listed energy companies on Wednesday tumbled to their lowest level in more than six months amid rising investor fears of a continuing glut in the global oil market.

HOUSING — Domestic and foreign investors are beginning to turn away from Australia’s housing market due to tighter government regulations.

RETAIL FOOD GROUP — Bakery, pizza and coffee chain owner Retail Food Group has downgraded its full-year profit expectations, sending its shares down by more than 10 per cent.

AGL — Energy company AGL has appointed non-executive director Graeme Hunt to take over as chairman when Jerry Maycock retires. Meanwhile, AGL is increasing the amount it pays residential solar panel owners for the electricity they feed into the network.

OLIVERS — Fast food chain Oliver’s Real Foods has made a healthy debut on the Australian share market.

TEMPLE WEBSTER — Struggling online retailer Temple & Webster is trimming its losses and still expects to post its first annual profit in 2019.

LBT — Australian-developed technology using artificial intelligence to rapidly diagnose infectious diseases is set for a laboratory trial at St Vincent’s Hospital in Melbourne.

YOWIE — Confectionary maker Yowie Group has again slashed its full-year revenue growth forecast despite exceeding expectations in its return to Australian supermarkets.