Finance news you need to know today

CHINA says Donald Trump’s threat to cut off trade with countries that deal with North Korea is unacceptable and unfair.

THE Australian market looks set to open modestly higher, bucking the negative trend of most international markets with investors spooked by North Korea’s nuclear test and fleeing to safe havens. At 0700 AEST on Tuesday, the share price futures index was up 11 points, or 0.19 per cent, at 5,691.

Meanwhile, the Australian dollar has fallen against its US counterpart as investors headed to defensive currencies and investments. The local currency was trading at 79.45 US cents at 0700 AEST on Tuesday, from 79.53 on Monday.

WORLD FINANCE UPDATE:

LONDON — Britain will decide as “soon as is reasonably practicable” whether to refer Rupert Murdoch’s $US15 billion ($A19 billion) bid to buy pay-TV group Sky for an in-depth review.

BRUSSELS — European Union antitrust regulators have approved Germany’s plan to provide troubled low-cost carrier Air Berlin with a 150-million-euro ($A225 million) loan.

BEIJING — China says US President Donald Trump’s threat to cut off trade with countries that deal with North Korea is unacceptable and unfair.

MONDAY HIGHLIGHTS:

TEN — US broadcast giant CBS has made a $143 million loan to the Ten Network to refinance the struggling local outfit’s debt — advancing its interest even as a potential challenge to its takeover still stands.

RATES PREVIEW — The Reserve Bank of Australia is set to leave interest rates unchanged for the thirteenth straight month as it waits for the cooling in the housing market growth to play out while hoping for economic growth to pick up.

RURAL CONFIDENCE — Farmers are the least confident they have been in four years after a lack of rain over winter slashed production forecasts.

EARNINGS REVIEW — Corporate Australia has put on an improved show in the 2016/17 fiscal year, but has seemingly failed to convince investors that conditions are returning to robust levels.

COMMONWEALTH BANK — Commonwealth Bank has appointed NSW Treasury Corporation director Robert Whitfield to its board while two current directors will leave as the bank battles allegations of breaching anti-money laundering and terror funding laws.