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November 28 2012, 08:10AM

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


LUXEMBOURG - The EU's highest court has ruled that the European Stability Mechanism, the permanent euro rescue fund created to try to prevent repeats of the Greek debt crisis, does not breach EU treaties.

LISBON - Bailed-out Portugal's MPs have given final approval to a 2013 budget imposing an unprecedented austerity squeeze even as protesters massed outside.

PARIS - Global growth is set for a sharp slowdown and the eurozone debt crisis "remains the greatest threat to the world economy at present", the OECD has warned.

JOHANNESBURG - Economic growth in South Africa has more than halved in the third quarter to 1.2 per cent as mining strikes ravaged the continent's largest economy, official data shows.

PARIS - Mexico's economy is expected to slow in 2013 due to weakness in some of its main trading partners.

NEW YORK - Hewlett-Packard and the former head of a British software firm it acquired have traded barbs over the US firm's allegations of deliberate accounting tricks ahead of a massive writedown.

STOCKHOLM - Swedish wireless equipment maker LM Ericsson has filed a lawsuit in the United States against Samsung Electronics Co for infringing its patents, saying two years of negotiations to strike a deal with the South Korean company have been unsuccessful.

WELLINGTON - A2 Corp, which markets milk products with a protein variant claimed to have health benefits, has halted its shares from trading pending a statement.

ASUNCION - A large oil discovery has been made in the Chaco region and Paraguay could join the petroleum producers club in 2013, President Federico Franco said.

NEW YORK - Oil prices have fallen as investor scepticism about Greece's third bailout overshadowed encouraging economic data in the United States, the world's biggest consumer of crude.

WELLINGTON - The New Zealand dollar fell as investors focused on the stalled negotiations between US policymakers on how to prevent $US607 billion ($NZ738b) in automatic spending cuts and tax hikes, which may push the world's biggest economy back into recession.


SYDNEY - The Australian dollar is lower following falls on US stock markets.

SYDNEY - The Australian market looks set to open lower following falls on Wall Street after Greece secured a revised bailout deal that will help it again avert a default on its huge debt load.

SYDNEY - Qantas has abandoned a 40-year partnership with Tourism Australia amid sabotage allegations.