Finance News Update, what you need to know

WORLD FINANCE UPDATE:

The Australian dollar is higher after US inflation figures were stronger than they have previously been.

At 0630 AEDT on Wednesday, the local unit was trading at 71.20 US cents, up from 70.84 cents on Tuesday.

And the Australian share market looks set to open lower after Wall Street lost its previous session's gains following a report that a soccer match between Germany and Netherlands was called off due to concerns of a bomb attack.

At 0645 AEDT on Wednesday, the December share price index futures contract was down 26.0 points at 5,098.

ELSEWHERE:

WASHINGTON - US consumer prices have gained in October with key elements like health care and housing costs pushing higher, hinting inflation could be picking up.

LONDON - Britain has marked two consecutive months of falling consumer prices for the first time on record in October, but economists say the bout of mild deflation is likely to end in the next few months.

PARIS - Additional spending on security in the wake of the Paris terror attacks means that France will not be able to meet its EU budget obligations, Prime Minister Manuel Valls says.

BEIJING - Chinese investment in Africa fell by more than 40 per cent year-on-year in the first half of 2015, officials say, as the Asian giant's slowing growth dents its commodity demand.

ANKARA - Turkey has cancelled a $US3.4 billion ($A4.79 billion) tender awarded provisionally to China to develop a long-range missile defence system.

NEW YORK - Wal-Mart Stores have reported a rise in comparable sales at US stores in the third quarter but earnings dipped due in part to the strong dollar.

LONDON - British no-frills airline Easyjet has ordered 36 Airbus A320 jets worth $US3.8 billion ($A5.36 billion) at catalogue prices, after posting record annual profits on keen demand.