Finance news you need to know today

ANALYSTS predict JB Hi-Fi’s operating margins will stagnate over the next decade as Amazon takes hold of the Australian retail market.

THE Australian share market looks set to open higher for a second consecutive day after a third straight positive session on Wall Street, while the Aussie dollar has slipped. At 0700 AEDT on Wednesday, the share price futures index was up 17 points, or 0.29 per cent, at 5,810.

Meanwhile, the Australian dollar has slipped against all the key currencies, including a weaker US dollar. The local currency was trading at 78.57 US cents at 0700 AEDT on Wednesday, from 78.64 on Tuesday.

WORLD FINANCE UPDATE:

WASHINGTON, DC — US President Donald Trump says he is considering a range of options, including tariffs and quotas, to address steel and aluminium imports that he says are unfairly hurting US producers.

NEW YORK — PepsiCo has reported flat revenue for the last few months of 2017, and says it will cut some jobs while giving others bonuses of up to $US1,000.

OSLO — Norway’s $US1 trillion ($A1.4 trillion) sovereign wealth fund, the world’s largest, has set out new expectations for the 9100 companies it invests in regarding the way they prevent and fight corruption internally.

KIRKLAND — Bill and Melinda Gates, as the world’s top philanthropists, are rethinking their work in America as they confront the country’s growing inequity and a president they disagree with more than any other.

TUESDAY HIGHLIGHTS:

TRANSURBAN — Transurban has racked up a near fourfold increase in first-half profit and the toll road operator is looking for more to come thanks to US President Donald Trump’s planned infrastructure splurge.

JB HI-FI — Analysts predict JB Hi-Fi’s operating margins will stagnate over the next decade as Amazon takes hold of the Australian retail market.

COCHLEAR — Hearing implant developer Cochlear says its Nucleus 7 sound processor, the world’s first to be designed to work with the iPhone, has been well received in major markets including the United States.

RBA WAGES — The Reserve Bank expects wage growth to pick up eventually even though companies are currently reluctant to raise salaries for fear of becoming uncompetitive.

NPP — Three of Australia’s big four banks have begun rolling out their new $1 billion payment system that allows customers to transfer funds between rival institutions in near real-time.

LENDING FINANCE — Lease financing jumped in December to hit its highest level in more than 16 years, as Australians cashed in on low car prices and flexible payment options.

NUFARM — Agricultural chemicals supplier and seeds developer Nufarm has received approval to produce the world’s first plant-based source of long chain omega-3 fatty acids.

BORAL — Boral has flagged growth in its full-year earnings on the back of a wave of infrastructure projects in Australia and market growth in its US operations.

GPT — International specialty retailers, including Sephora and consumer electronic players JB Hi-Fi and Apple are offsetting department stores’ sales declines, shopping centre owner GPT Group says.

BUSINESS NAB — Australian business confidence has hit a nine-month high reflecting an improved global outlook, says the National Australia Bank.

CONSUMER ANZ — The plunge in US stocks which infected Australian shares last week has dragged consumer confidence down, with all subindices posting declines.

CHALLENGER — Shares in Challenger Financial are weaker after the retirement funds manager’s first-half profit was hit by a drop in the value of its investments.