Finance news you need to know today

1. SYDNEY — The Australian dollar has edged lower despite a rally in global oil prices. At 0700 AEST on Tuesday, the local unit was trading at 72.89 US cents, down f-rom 72.95 cents on Monday.

2. SYDNEY — And the Australian share market looks set to open higher after Wall Street rallied sharply, juiced by a jump in Apple shares and gains f-rom energy stocks that were backed by stronger oil prices. At 0645 AEST on Tuesday, the share price index was 43 points at 5,389.

3. WASHINGTON — US home builders’ confidence held steady in May for the fourth month in a row, reflecting an overall optimistic outlook for the new-home market even as the pace of sales has slowed recently.

4. ATHENS — Greece’s parliament is set to vote on a new package of tax hikes and reforms demanded by its international lenders, two days before euro zone finance ministers assess whether Athens qualifies for much-needed bailout loans.

5. WASHINGTON — The US Supreme Court has rejected Exxon Mobil Corp’s appeal of a $US236 million ($A325.56 million) judgment against the oil company in a case brought by New Hampshire over groundwater contamination linked to a petrol additive.

6. WASHINGTON — The US Supreme Court has declined to hear Philip Morris USA’s challenge to a $US25 million ($A34.5 million) Oregon jury verdict in favour of a man whose wife died of a lung cancer-related brain tumour after smoking the company’s low-tar cigarettes.

7. STOCKHOLM — Norway’s $US850 billion ($A1.17 trillion) national oil fund plans to sue Volkswagen over the company’s emissions-cheating scandal.

8. NEW YORK — Pfizer will acquire Anacor Pharmaceuticals in a deal valued at about $US5.2 billion ($A7.17 billion).

9. NEW YORK — USA Today owner Gannett has boosted its takeover bid for Tribune Publishing by about 22 per cent a week after the owner of the Los Angeles Times, Chicago Tribune and other newspapers adopted a “poison pill” plan to thwart the unsolicited offer.