Finance news you need to know today

UNITS in Murray Goulburn’s listed trust are at a fresh all-time low as investors continue to digest the dairy processor’s vaguely worded announcement.

THE Australian share market looks set to open lower after oil prices slumped more than four per cent and iron ore prices dropped one per cent. At 0700 AEST on Thursday, the share price futures index was down 10 points, or 0.18 per cent, at 5,654.

Meanwhile, the Australian dollar has crept fractionally higher against its US counterpart which basically has been treading water in the offshore session. The local currency was trading at 75.50 US cents at 0700 AEST on Thursday, from 75.47 on Wednesday.

WORLD FINANCE UPDATE:

PARIS — Global economic growth is likely to pick up slightly this year and into 2018, the Organisation for Economic Cooperation and Development (OECD) says.

NEW YORK — Parts of Amazon.com’s US home page appeared to be down, Reuters witnesses and users on Twitter report.

QUINCY, US — A Massachusetts medical marijuana dispensary has created a culinary delight for patients who don’t want to smoke their pot or eat it in the form of sweets.

WEDNESDAY HIGHLIGHTS:

GDP — Australia’s economic growth has slowed to its weakest pace in almost eight years and there are concerns that weak housing investment and consumer spending will prevent a swift improvement.

WESFARMERS — Coles has ramped up how much money it pours into lowering food and grocery prices as it sacrifices profits in a bid to lure customers from Woolworths and Aldi.

AMAZON — Amazon’s arrival in Australia will not be the Armageddon for established retailers some are portraying, says the man in charge of Kmart and Target.

VOCUS — Tough questions remain for Vocus Group following the conditional $3.3 billion takeover proposal from a US private equity firm, as analysts consider the sprawling telco’s potential to be broken up.

MURRAY GOULBURN — Units in Murray Goulburn’s listed trust are at a fresh all-time low as investors continue to digest the dairy processor’s vaguely worded announcement of a strategic review.

CONSTRUCTION AI — Construction sector activity has expanded at its fastest pace in more than two- and-half years on the back of a pick-up in apartment building and sharp increase in engineering work.

KOGAN — Kogan will start selling fixed-line NBN home internet next year after agreeing to expand its partnership with existing mobile provider Vodafone.

AGL — AGL Energy will spend $295 million on a 210 megawatt gas-fired power station alongside its 50-year-old Torrens Island plant in South Australia.