Finance news you need to know today

ALDI has unveiled its latest $300 million strategy in the supermarket wars, while Coles launches a new move of its own.

Aldi is determined to increase its share of Australia’s $88 billion grocery market.

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

1. ADELAIDE — About 150 South Australians will start work with discount German supermarket chain Aldi this month as it gears up for its $300 million foray into the state’s grocery market.

The company will open its first Adelaide stores in February and plans to have 16 stores in SA by the end of 2016.

It has also just completed construction of a distribution centre which it says marks an important step in its expansion into South Australia.

Meanwhile, Coles is overhauling its private label strategy, with its new red ribbon branded range aimed at fending off the Aldi threat, The Australian reports.

2. WASHINGTON — A solid core of Federal Reserve officials rallied behind a possible December rate hike at the central bank’s last policy meeting, but central bankers also debated evidence the US economy’s long-term potential may have permanently shifted lower.

3. WASHINGTON — New construction of US homes slowed in October, led by a plunge in the multi-unit sector, but a jump in building permits pointed to a potential rebound in coming months.

4. LONDON — Britain wants to close all of its coal-fired power plants by 2025 and lower their output from 2023, the government says, making it the first major economy to put a date on shutting down polluting coal plants to curb carbon emissions.

5. NEW YORK — Barclays Plc will pay an additional $210.70 million (US $150 million) to New York State’s financial regulator to resolve allegations that it rigged foreign exchange trading by putting the bank’s interests ahead of those of clients.

6. MILAN — An Italian appellate court is allowing a class-action suit against Fiat Chrysler Automobiles that alleges it misled buyers on the amount of fuel consumed by its Panda city car. 7. PARIS — France’s competition authority has forced German sportswear company Adidas to drop a clause banning its resellers from using online trading platforms.

8. JOHANNESBURG — South Africa’s state-owned airline SAA has removed its acting chief executive as the troubled carrier wrestles with management turbulence and criticism from pilots while planning a controversial renegotiation of an Airbus deal.