Finance news you need to know today

BRITISH PM Theresa May must prove “no deal is better than a bad deal” by offering an economic assessment on the impact of leaving the EU.

British Prime Minister Theresa May attends a meeting with Sarah al-Suhaimi, chief executive of the Saudi Stock Exchange (Tadawul) in Riyadh. Picture: Fayez Nureldine/AFP

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

1. SYDNEY — The Australian market looks set to open comfortably higher following a positive but lacklustre lead from Wall Street, and after the Reserve Bank highlighted housing market risks, lower inflation and growth concerns in China. At 0700 AEST on Wednesday, the share price futures index was up 27 points, or 0.46 per cent, at 5,871.

2. SYDNEY — Meanwhile, the Australian dollar is again treading water after falling to a three-week low following the Reserve Bank of Australia’s announcement it was keeping its cash rate on hold. The local currency was trading at 75.65 US cents at 0700 AEST on Wednesday, from 75.68 on Tuesday.

3. WASHINGTON — US President Donald Trump says his administration is working on changes to Dodd-Frank banking regulations that will make it easier for banks to loan money.

4. LONDON — British Prime Minister Theresa May must prove “no deal is better than a bad deal” by offering an economic assessment on the impact of leaving the European Union with no agreement, a parliamentary committee says.

5. HONG KONG — The “Pink Star” diamond has sold for a record-breaking $US71.17 million ($A94.29 million) at an auction in Hong Kong.

6. VIENNA — Switzerland’s pharmaceutical industry profited from testing unlicensed products on far more than 1000 psychiatric patients until the 1970s, medical historians say.

7. FRANKFURT — Mercedes-Benz parent Daimler and supplier Robert Bosch are teaming up to develop self-driving cars in an alliance primarily aimed at accelerating the production of “robo-taxis”.