Finance news you need to know today

FACEBOOK will add 3000 people over the next year to monitor reports of inappropriate material and remove videos such as murders and suicides.

Facebook is cracking down on inappropriate content. Picture: Dan Kitwood/Getty Images

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

1. SYDNEY — The Australian market looks set to open lower, following Wall Street’s negative lead. At 0703 AEST on Thursday, the share price futures index was down six points, or 0.1 per cent, at 5,871.

2. SYDNEY — Meanwhile, the Australian dollar continues to slide against its US counterpart, underperforming while the US dollar index lifts 0.3 per cent. The local currency was trading at 74.23 US cents at 0703 AEST on Thursday, from 74.89 on Wednesday.

3. WASHINGTON — The US Federal Reserve has kept interest rates unchanged and has downplayed weak first-quarter economic growth, emphasising the strength of the labour market, in a sign it could tighten monetary policy as early as June.

4. WASHINGTON — The US House of Representatives has approved a $US1.2 trillion ($A1.6 trillion) spending bill to keep federal agencies operating through September 30 and avoid a government shutdown on Saturday when existing funds expire.

5. DETROIT — Electric car maker Tesla’s first quarter loss has more than doubled to $US330 million ($A445 million) as it ramped up spending ahead of the launch of its Model 3 sedan and its solar panel business.

6. WASHINGTON — The Trump administration has named a banking lawyer to be the interim head of the Office of the Comptroller of the Currency, as part of the administration’s efforts to overhaul bank regulation.

7. SAN FRANCISCO — Facebook Inc will add 3000 people over the next year to monitor reports of inappropriate material on the social media network and remove videos such as murders and suicides, chief executive Mark Zuckerberg says.