Finance news you need to know today

DONALD Trump says his plans to cut taxes, eliminate regulations and revamp US trade policy would create 25 million new jobs over a decade.

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

1. SYDNEY — The Australian dollar more than half a US cent higher. At 0635 AEST on Friday, the local unit was trading at 75.12 US cents, up from 74.56 cents on Thursday.

2. SYDNEY — The Australian market looks set to open higher, following the positive lead from Wall Street which rose one per cent, thanks to Apple’s strong performance. At 0645 AEST on Friday, the share price index was up 34 points at 5,263.

3. LONDON — The Bank of England has kept interest rates unchanged at 0.25 per cent but has signalled another cut is still on the cards later this year despite a Brexit bounce in the economy.

4. WASHINGTON — US shoppers retreated in August, cutting back their spending at auto dealers, furnishers and building material stores to depress overall retail sales after four straight monthly gains.

5. WASHINGTON — The deficit in the US’s broadest measure of trade fell in the second quarter to the smallest amount since the final three months of last year.

6. WASHINGTON — The Obama administration is taking action to limit the use of foreign tax credits by American multinational companies to reduce their US tax bills, a move that follows an EU order that Apple pay back taxes to Ireland.

7. JAKARTA — Indonesia’s tax office will investigate Google for suspected unpaid taxes in Southeast Asia’s largest economy, a senior finance ministry official says.

8. NEW YORK — Republican Donald Trump is calling for a US goal of four per cent annual economic growth, saying his plans to cut taxes, eliminate regulations and revamp US trade policy would create 25 million new jobs over a decade.

9. LONDON — European Commission president Jean-Claude Juncker says the United Kingdom’s departure from the European Union should be blamed on 40 years of “lies” turning voters against the bloc.