Finance News Update, what you need to know

WORLD FINANCE UPDATE:

Sliding oil prices have dragged the Australian dollar lower again, just after it recovered from a threat to the country's triple-A credit rating.

At 0700 AEST on Friday, the local unit was trading at 74.82 US cents, down from 74.99 cents on Thursday.

The Australian share market looks set to open lower after Wall Street closed mixed as falls in energy companies offset gains in technology stocks.

At 0648 AEST on Friday, the share price index was down 22 points to 5,170.

ELSEWHERE:

LONDON - Four fund managers have cut the value of their UK property funds and a fifth has extended a 24-hour trading suspension, as the industry seeks to stem a tide of redemption requests since Britain's vote to leave the European Union.

WASHINGTON - US private payrolls increased more than expected in June and fewer Americans applied for unemployment benefits last week, suggesting a rebound in job growth after May's paltry gains.

WASHINGTON - Long-term US mortgage rates fell this week to the lowest level since May 2013, driven down by financial tumult in Europe.

LONDON - Britain's economy looks set for a significant slowdown after a strong second quarter, a think tank says, based on data mostly recorded before last month's decision by voters to leave the European Union.

LONDON - Four US investment banks have promised British finance minister George Osborne they would help London keep its top spot as a global financial centre following the country's vote to leave the European Union.

MANILA - The Philippines has ordered the suspension of operations at two nickel ore mines for environmental violations and halted the issuance of exploration permits as a nationwide crackdown led by a new mining minister begins.