WORLD FINANCE UPDATE:
The Australian dollar has drifted lower following weakness on global share markets late last week.
At 0630 AEST on Monday, the local currency was trading at 92.74 US cents, down from 92.95 cents on Thursday, before the Anzac Day long weekend.
The Australian market is set to begin the week with a fall after weakness in technology stocks caused a drop on Wall Street at the end of last week.
At 0656 AEST on Monday, the June share price index futures contract was down 23 points at 5,507.
PARIS – French engineering group Alstom says its shares will remain suspended from trading until Wednesday as it mulls its strategy amid rumours it is being pursued by General Electric and Germany’s Siemens.
PARIS – French President Francois Hollande met Sunday with top members of the government to discuss Alstom, hours after the economy minister warned the engineering company not to pursue a “precipitous” tie-up with U.S. giant General Electric Co.
LOS ANGELES – James Packer’s Hollywood production company has won a bidding war for the movie rights to the story behind Los Angeles Dodgers star Yasiel Puig’s dramatic escape from Cuba to the US.
COLOMBO – Sri Lanka has refused to allow casinos at three super-luxury resorts planned in the capital after opponents said they would lead to prostitution, an official says.
TAIPEI – Taiwan will stop construction at a controversial nuclear power plant after tens of thousands of protesters blockaded a main street in the capital calling for it to be scrapped.
BERLIN – German rail company Deutsche Bahn says it is launching a multimillion-dollar lawsuit against major steel manufacturers over illegal price fixing.
NEW YORK – General Motors has named a union leader to its board of directors, a first for the US car maker and a rarity in American business.
BEIJING – Most of the tens of thousands of workers striking at a massive Chinese shoe factory complex have returned to the job, enabling Adidas to resume production there.
WELLINGTON – One of the largest single Japanese investments in the New Zealand economy is occurring with the sale of Carter Holt Harvey’s pulp, paper and packaging businesses for $NZ1.037 billion ($A971.88 million).