Finance news you need to know today

DONALD Trump is seeking a “historic increase” in US military spending to be funded by cuts elsewhere in government.

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

1. SYDNEY — The Australian market looks set to open slightly higher ahead of US president Donald Trump’s first address to a joint session of Congress. At 0700 AEDT on Tuesday, the share price futures index was up seven points at 5,700.

2. SYDNEY — Meanwhile, the Australian dollar has fallen against its US counterpart. The local currency was trading at 76.79 US cents at 0700 AEDT on Tuesday, from 76.92 on Monday.

3. WASHINGTON — US President Donald Trump is seeking a “historic increase” in military spending to be funded by cuts elsewhere in government.

4. LONDON — The London Stock Exchange has all but ended a planned merger with Deutsche Boerse to create Europe’s biggest stock exchange by ruling out meeting a European antitrust demand, saying it has strong prospects alone.

5. LONDON — Britain’s unelected House of Lords is flirting with changing the conditions under which the country will announce its departure from the European Union, threatening to attach amendments to Prime Minister Theresa May’s legislation.

6. LONDON — Former Prime Minister John Major has lambasted Britain’s preparations for leaving the European Union, saying the government must offer more charm and less “cheap rhetoric” if it wants to get a good deal.