Trading Room home page

International financial news

Market watch top headlines

Australian reports

World reports

Stocks to watch

GXL, HVN, NAB, QAN, TSE, VAH, WOW,

SYDNEY, Nov 26 AAP

November 26 2012, 07:31AM

A roundup of news in finance, economics and business from around the world:

INTERNATIONAL NEWS

PARIS - The eurozone is very close to an agreement on Greek debt, French Finance Minister Pierre Moscovici said on the eve of key talks between the currency bloc's finance ministers.

BERLIN - Eurozone finance ministers are considering a possible "haircut" for Greece in 2015, a German newspaper reports, in a bid to reduce the recession-wracked country's debt mountain.

WASHINGTON - As Congress prepares to dive back into "fiscal cliff" talks after the Thanksgiving holiday, there are encouraging signs that Republican intransigence on tax could be easing.

NEW YORK - Black Friday is a distant memory. Small Business Saturday is long gone. Now, it's Cyber Monday's turn.

CAIRO - Share prices on the Egypt Exchange have declined almost 9.5 per cent, with President Mohamed Morsi assuming sweeping powers that have sparked clashes and polarised the country's politics.

TAIPEI - Taiwanese workers have pelted police with eggs, with thousands taking to the streets to demand the government change economic policies they say favour big business.

WELLINGTON - The New Zealand dollar rallied to a month high in New York trading on early signs that US consumer spending picked up on so-called Black Friday that follows the Thanksgiving Day holiday.

NEW YORK - Oil prices closed higher on Friday as investors grew more optimistic about an improvement in Europe's economic situation and took advantage of a weaker dollar.

LOCAL NEWS

SYDNEY - The Australian dollar is half a US cent higher following rallies on global stock markets at the end of last week.

SYDNEY - The Australian market looks set to open higher following a strong lead from Wall Street at the end of the week.

SYDNEY - NSW treasurer Mike Baird will explain how he made a $1 billion mistake in the state's finances at a supplementary treasury budget estimates hearing on Monday.

CANBERRA - The federal government is this week expected to release draft legislation to overhaul the statutory reporting of how much the country's CEOs are paid, forcing companies to disclose exactly how much chief executives take home.

SYDNEY - Scrapping controversial coal licences that are the focus of a corruption inquiry could cost the state hundreds of millions of dollars in compensation, NSW Premier Barry O'Farrell says.