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WORLD FINANCE UPDATE:

The Australian share market looks set to open around 1.5 per cent lower after Wall Street’s key index again take a painful tumble.

At 0700 AEDT on Friday, the share price futures index was down 82 points, or 1.41 per cent, at 5,730.

Meanwhile, the Australian dollar, one of the worst performing currencies in the offshore session, is under 78 US cents, and below 85 yen.

The local currency was trading at 77.98 US cents at 0700 AEDT on Friday, from 78.25 on Thursday.

ELSEWHERE:

WASHINGTON – The number of Americans filing for unemployment benefits unexpectedly fell last week, dropping to its lowest level in nearly 45 years.

BRUSSELS – The European Union believes Britain will not be ready to make a full break from the bloc by the end of 2020 as Brexit transition plans foresee and several senior EU figures said they are bracing for a much longer goodbye.

LONDON – Japan’s ambassador says no firm would be able to continue to operate in Britain if they are not profitable due to Brexit-related trade barriers.

PARIS – Uber has won a rare French victory against attempts to force the ride-hailing operator to recognise its drivers as employees, a prospect that would undermine its entire business model.

NEW DELHI – India’s antitrust watchdog on Thursday imposed a 1.36 billion rupee ($A29.64 million) fine on Google for “search bias”, in the latest regulatory setback for the world’s most popular internet search engine.

NEW YORK – Twitter says it has delivered the first profitable quarter in its nearly 12-year history – although it failed to increase its total monthly user base in the period.