Finance News Update, what you need to know

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WORLD FINANCE UPDATE:

The Australian dollar is higher, thanks to a rebound in gold and copper prices.

At 0630 AEDT on Thursday, the local unit was trading at 89.87 US cents, up from 89.53 cents on Wednesday.

And the Australian share market looks set to open flat after international markets lost ground as investors retreated in the face of concerns about Ukraine, the Chinese economy and falling copper prices.

At 0645 AEDT on Thursday, the March share price index futures contract was down four points at 5,369.

ELSEWHERE:

NEW DELHI - India's industrial output has edged a surprise 0.1 per cent higher in January, but the rise was a long way from the strong upturn the government had hoped for ahead of general elections.

MILAN - Italian Premier Matteo Renzi has announced a sweeping package of economic reforms that includes relief for workers and businesses to help prepare Italy for structural reforms to boost the ailing economy.

NEW YORK - A US judge has ordered Fabrice Tourre to pay more than $US825,000 ($A921,000) after a jury found the former Goldman Sachs trader defrauded investors in selling mortgage-linked securities before the housing bust.

LONDON - British insurer Prudential has revealed rising 2013 operating profits and a dividend hike, sending shares surging to a record peak, but the group added that net earnings sank.

ROCHESTER, New York - Eastman Kodak has tapped Orbitz chairman Jeffrey Clarke as its new CEO, taking over from Antonio Perez.

GENEVA - Airline body IATA has cut its 2014 earnings forecast for the sector to $US18.7 billion ($A20.89 billion), after oil prices soared over the Ukraine crisis.

NEW DELHI - India's SpiceJet has placed an order worth $US4.4 billion ($A4.9 billion) for 42 737 MAX Boeing jets, sending the airline's shares soaring on hopes the deal would make the loss-making carrier more attractive to investors.

NEW YORK - The company behind the addictive blockbuster game Candy Crush Saga believes it could raise nearly $US613 million ($A685 million) in an initial public offering.

SAN FRANCISCO - Google is betting that good things will happen to Credit Karma, an online service that provides consumers with free copies of the credit scores that define their financial reputations.