Finance news you need to know today

THE leaders of the world’s two biggest economies, Donald Trump and Xi Jinping, have landed in Florida for a face-to-face meeting.

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

1. SYDNEY — The Australian market looks set to open higher, following relatively small gains on Wall Street, as the leaders of the world’s two biggest economies meet in the US At 0700 AEST on Friday, the share price futures index was up 16 points, or 0.27 per cent, at 5,864.

2. SYDNEY — Meanwhile, the Australian dollar is hardly changed against its US counterpart, but has continued its downward momentum while the US dollar index lifted just 0.1 per cent. The local currency was trading at 75.45 US cents at 0700 AEST on Friday, from 75.48 on Thursday.

3. WEST PALM BEACH, Florida — US President Donald Trump and Chinese President Xi Jinping have landed in Florida for a face-to-face meeting where Trump will face pressure to deliver trade concessions and prevent a crisis with North Korea from spiralling out of control.

4. LONDON — European Council President Donald Tusk and British Prime Minister Theresa May has sought to seek a smooth start to the UK’s EU departure, a day after the European Parliament laid out tough guidelines for the divorce negotiations.

5. BANGKOK — The Thai government says it is ready to hold talks with Australian goldmining company, Kingsgate Consolidated, over the closure of its Thai mining operations last year.

6. BRUSSELS — The European Union has expanded sanctions against North Korea over the country’s nuclear tests and launches of ballistic missiles.

7. BRUSSELS — The European Union has completed its legislative work to cut costly mobile-phone roaming costs in the bloc ahead of the summer holidays.

8. LONDON — BP has cut Chief Executive Bob Dudley’s pay package by 40 per cent to $US11.6 million ($A15.3 million), the company says, the latest British blue chip company to rein in executive pay after shareholder revolts.

9. COPENHAGEN — Norway plans to build the world’s first tunnel for ships, a 1700-metre passageway burrowed through a piece of rocky peninsula that will allow vessels to avoid a treacherous part of sea.