Finance news you need to know today

VOLKSWAGEN has agreed to a $5.8 billion settlement to resolve the US government’s investigations into emissions cheating.

HERE are six things making news in business and finance today.

1. SYDNEY — The Australian dollar has rallied again greenback amid uncertainty about US President Donald Trump. The local currency was trading at 74.45 US cents at 0700 AEDT on Thursday, up from 73.79 US cents on Wednesday.

2. SYDNEY — Meanwhile the Australian share market is set to open higher, despite choppy trading on Wall Street overnight. At 0700 AEDT on Thursday, the local SPI 200 futures contract was up 14 points at 5,743 points.

3. WASHINGTON — US president-elect Donald Trump’s nominee for secretary of state, Rex Tillerson, says he favours maintaining current sanctions against Russia for now, and that NATO allies are right to be alarmed by Moscow’s growing aggression..

4. WASHINGTON — Volkswagen AG has agreed to a $US4.3 billion ($A5.8 billion) settlement to resolve the US government’s civil and criminal investigations into the German automaker’s diesel emissions cheating, two sources said.

5. ROME — Italian Prime Minister Paolo Gentiloni is in good condition following a heart procedure at a Rome hospital and is expected to be back at work soon, officials say..

6. BERN — The president of German soccer club Bayern Munich, Uli Hoeness, feels that he has not lost any respect among his peers but has become more humble and less outspoken after serving time in prison for tax evasion.