Finance news you need to know today

GERMANY has stepped up its campaign against organised crime by spending $7.5 million to buy the so-called Panama Papers.

THE Australian market looks set to open higher despite a slump in oil prices and a mixed lead from Wall Street. At 0700 AEST on Thursday, the share price futures index was up 21 points, or 0.37 per cent, at 5,726.

Meanwhile, the Australian dollar is has fallen against a steady US dollar. The local currency was trading at 76.00 US cents at 0700 AEST on Thursday, from 76.26 on Wednesday.

WORLD FINANCE UPDATE:

WASHINGTON, D.C. — Federal Reserve policymakers are increasingly split on the outlook for inflation and how it might affect the future pace of interest rate rises, according to the minutes of the Fed’s last policy meeting on June 13-14.

BRUSSELS — Japan and the European Union are set to agree to a free-trade pact that could be completed within months, after senior officials removed final snags to a political deal intended as a signal to US President Donald Trump.

BERLIN — Germany has stepped up its campaign against organised crime by spending five million euros ($A7.5 million) to buy the so-called Panama Papers, which contain a list of those exploiting secret offshore tax havens.

KIEV — The Ukrainian software firm at the centre of a cyber attack that spread around the world last week says computers which use its accounting software are compromised by a so-called “backdoor” installed by hackers during the attack.

WEDNESDAY HIGHLIGHTS:

ARRIUM — A multi-millionaire industrialist known as Britain’s “man of steel” has won the bidding battle for Arrium, ending more than a year of uncertainty for the collapsed South Australian steelmaker.

TEN — Media billionaires Lachlan Murdoch and Bruce Gordon face stiff competition and a race against time in their bid to take over the besieged Ten Network, an analyst says.

FLIGHT CENTRE — Flight Centre says it likely hit a record $20 billion in annual sales after its North American travel businesses achieved significant growth in the second half of the financial year.

DIGITAL — Most Australians want organisations to be more open about how their personal and customer data is being used, a new report on the nation’s online behaviour has found.

COSTA GROUP — Vegetable and fruit grower Costa Group has set its sights on becoming Australia’s biggest supplier of avocados after buying a significant Queensland grower.

VOCUS — US private equity giant Kohlberg Kravis Roberts has moved a step closer to a takeover of Vocus Group with the telco’s board opening its books to a non-exclusive due diligence.

SERVICES — Activity in the Australian services sector activity lifted in June, expanding for the fourth straight month, but businesses are finding high energy costs a problem.