Finance news you need to know today

AL JAZEERA has vowed to take legal action after the Israeli government’s decision to close the TV network’s bureau in Jerusalem.

THE Australian market looks set to open modestly higher, following Wall Street’s positive lead with the Dow Jones attaining its ninth consecutive record high. At 0700 AEST on Tuesday, the share price futures index was up 12 points, or 0.21 per cent, at 5,718.

Meanwhile, the Australian dollar is lower against its US counterpart which, despite easing a little, has retained most of the boost it got from Friday’s US jobs figures. The local currency was trading at 79.12 US cents at 0700 AEST on Tuesday, from 79.24 on Monday.

WORLD FINANCE UPDATE:

LONDON — British house prices eked out growth in July but deflated wages and the squeeze on spending power continue to take their toll on the country’s property market.

INDIANAPOLIS — IBM owes the US state of Indiana $US78 million ($A99 million) in damages stemming from the company’s failed effort to automate much of the state’s welfare services, a judge has ruled.

CAIRO — Qatar-based broadcaster Al Jazeera has vowed to take legal action against Israel after the Israeli government’s decision to close the TV network’s bureau in Jerusalem.

LONDON — Britain does not recognise media reports that the government is willing to pay 40 billion euros ($A59.62 billion) to exit the European Union, Prime Minister Theresa May’s spokesman says.

DETROIT — Tesla Inc says it would raise about $US1.5 billion ($A1.9 billion) through its first-ever high-yield junk bond offering, as the US luxury electric car-maker seeks fresh sources of cash to ramp up production of its new Model 3 sedan.

LOS ANGELES — Amazon Studios has acquired the Lucille Ball biopic Lucy and Desi, in which Oscar-winner Cate Blanchett is slated to star.

LOS ANGELES — Apple is on Insta now. The US computer maker has officially unveiled its Instagram account, uploading a series of slide shows that celebrate the iPhone’s camera.

PARIS — Christian Millau, who built the Gault & Millau restaurant guide series and was among the originators of the nouvelle cuisine food movement, has died at age 88.

MONDAY HIGHLIGHTS:

CBA — The Commonwealth Bank has suggested that 53,000 alleged breaches of money laundering laws listed in a case brought against it by regulators could be treated as a single matter because they all stemmed from the same IT error.

CONSTRUCTION AI — Construction across Australia has expanded at its fastest ever pace and is now at its highest level since the Ai Group began releasing the Performance of Construction Index (PCI) in September 2005.

DIGGERS ZOELLICK — A former Bush administration official and World Bank boss has warned that US President Donald Trump’s approach to international trade holds greater risks than current concerns about global security alliances.

DIGGERS ROY HILL — Coverage of Roy Hill Holdings CEO Barry Fitzgerald’s address to Diggers and Dealers Conference in Kalgoorlie.

JOBS ANZ — Job ads have lifted for five months in a row as labour market conditions improve but the pace of improvement is expected to ease.

CAPILANO — The market for honey in Australia has grown by nearly four per cent in the last financial year as consumers take a greater interest in natural, healthy foods and buy honey more often, says honey producer Capilano.

HOUSING PRICES — Sydney, Melbourne, Brisbane and Adelaide have all recorded a lift in home values in the past week amid a rise in the number of homes sold at auction.