Finance news you need to know today

THE backlash against Facebook over its handling of personal data has seen a co-founder of WhatsApp back calls for users to delete their profiles.

THE Australian share market is expected to open slightly lower after the US Federal Reserve raised its interest rate for the first time this year. At 0700 AEDT on Thursday, the Australian share price futures index was down eight points, or 0.13 per cent, at 5,926.

Meanwhile, the Australian dollar rallied after the Fed decision, and it’s upbeat outlook for the American economy. At 0700 AEDT, the local currency was worth 77.66 US cents, up from 76.96 US cents on Wednesday.

WORLD FINANCE UPDATE:

WASHINGTON — The US Federal Reserve has raised interest rates and forecast at least two more hikes for 2018, signalling growing confidence that tax cuts and government spending will boost the economy and inflation.

WASHINGTON — More money for border security and fighting Russian election hacking was expected to be included in a $US1.3 ($A1.8) trillion US government spending bill taking shape in Congress, along with gun legislation.

LONDON — The backlash against Facebook over its handling of personal data has seen a co-founder of WhatsApp appear to back calls for users to delete their profiles.

LONDON — The consultancy at the centre of a storm over Facebook data greatly exaggerated its role in Donald Trump’s 2016 US presidential victory and would not have been able to sway an election result, the academic who provided the data said.

WEDNESDAY HIGHLIGHTS:

CROWN — James Packer has quit casinos operator Crown Resorts’ board in a surprise move as the billionaire takes time out to deal with mental health issues.

MYER — Myer’s executive chairman has criticised poor decisions and competition “failures” under ex-chief executive Richard Umbers leadership after the department store slumped to $476.2 million half-year loss.

NUFARM — Stalled local production and tougher conditions in South America have hit first- half profit at agricultural chemicals supplier Nufarm, but chief executive Greg Hunt says the company will achieve growth in the full year and beyond.

ACCC INTERNET — Internet plans over the national broadband network are getting cheaper, a new report says, despite recent criticism from retailers that their NBN costs are too high.