Finance news you need to know today

THE Pittsburgh-area McDonald’s franchisee who created the Big Mac nearly 50 years ago has died at the age of 98.

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

1. SYDNEY — The Australian dollar has slipped below 74 US cents as an improving view on global growth rekindled the greenback’s push toward a near 14-year high. At 0630 AEDT on Thursday, the local unit was trading at 73.93 US cents, down from 74.74 cents on Wednesday.

2. SYDNEY — The Australian market looks set to open higher with Wall Street mixed but European stocks lifting to a three-week high amid rising oil prices. At 0645 AEDT on Thursday, the share price index was up 12 points at 5,454.

3. NEW YORK CITY — Oil prices rose more than eight per cent as some of the world’s largest oil producers agreed to curb oil output for the first time since 2008 in a last-ditch bid to support prices.

4. NEW YORK CITY — US President-elect Donald Trump has vowed to step back from running his global business empire to avoid conflicts of interest, as concern over his dual role mounts ahead of the Republican’s inauguration on January 20.

5. LONDON — Philip Morris International, the world’s largest international tobacco company, said it could eventually stub out cigarette sales as it launches an alternative product in Britain.

6. NEW YORK — UN chief Ban Ki-moon says the UN Security Council had taken “strong action” after it unanimously passed a resolution tightening sanctions on North Korea.

7. PITTSBURGH — The Pittsburgh-area McDonald’s franchisee who created the Big Mac nearly 50 years ago has died. Michael “Jim” Delligatti was 98.

8. NEW YORK CITY — Australian veteran rockers AC/DC are still able to pull in the big money and have been ranked number seven in terms of earning power for 2016, Forbes magazine says.