Finance news you need to know today

HOUSE price growth is outpacing growth in apartment prices, a trend expected to continue as more units come onto the market.

THE Australian market looks set to open higher, as traders wait for the US Federal Reserve policy announcement, early on Thursday morning, Australian time.

Meanwhile, the Australian dollar has followed US stocks higher as investors stayed away from making major bets ahead of the Federal Reserve’s policy decision. At 0730 AEST on Wednesday, the Australian dollar was worth 80.10 US cents, up from 79.81 US cents on Tuesday.

WORLD FINANCE UPDATE:

NEW YORK — US President Donald Trump has escalated his stand-off with North Korea over its nuclear challenge, threatening to “totally destroy” the country of 26 million people and mocking its leader, Kim Jong-Un, as a “rocket man.”

BRUSSELS — Twitter says its internal controls are allowing it to weed out accounts being used for “promotion of terrorism” earlier rather than responding to government requests to close them down.

NEW YORK — Toys ‘R’ Us Inc, which filed for bankruptcy late Monday, will ask a judge for permission to borrow money so that it can start paying suppliers to ensure it has Lego building blocks and Barbie dolls for the holiday season.

NEW YORK — Walgreens and Rite Aid have finally devised a combination of the nation’s largest and third-largest pharmacy chains that will get past antitrust regulators.

TUESDAY HIGHLIGHTS:

TEN — Ten Network creditors have voted overwhelmingly in favour of a takeover by US giant CBS, delivering an apparent knockout blow to Bruce Gordon and Lachlan Murdoch’s hopes of owning Australia’s third-ranked TV broadcaster.

TEN CBS — Australia’s Ten Network could become a program testing ground for its new US owner, CBS, but the “Americanisation” of Australian TV is not going to happen, an industry analyst says.

HOME PRICES — House price growth is outpacing growth in apartment prices, a trend that is expected to continue as more units and townhouses come onto the market.

TPG — TPG Telecom has beaten its earnings guidance and lifted full-year profit by nine per cent, but warned it faces mounting costs in the year ahead as customers migrate to the national broadband network.

BHP — BHP Billiton says it will review its relationship with industry bodies as it faces pressure from shareholders concerned about “obstructive or misleading” policy positions on climate change and energy.

RBA MINUTES — Worries about the state of Australia’s housing market, persistent high levels of debt and the high Aussie dollar convinced the Reserve Bank to keep its official interest rate on hold in September, despite improvements in the jobs market.

TOYS R US — Toys R Us stores in Australia will continue to operate as normal despite the US based toy giant filing for bankruptcy protection.

WELLARD — Shares in Australia’s biggest cattle exporter, Wellard, have surged after the company agreed terms for its long-awaited first shipment of beef cattle to China.

ACCC CARS — The consumer watchdog says some car manufacturers could be breaching Australian consumer law by leaving dealers high and dry over customer complaints.

NEW HOPE — Queensland-based miner New Hope has swung to a $140.6 million annual profit after a first full year of contributions from its interest in the Bengalla coal mine in NSW.