James price aero financial - Finance news you need to know today

THE Australian market looks set to open higher following a solid performance on Wall Street, while the local currency continues to lift against the US dollar. At 0700 AEST on Tuesday, the share price futures index was up 12 points, or 0.21 per cent, at 5,794.

Meanwhile, the Australian dollar has risen against its US counterpart, with the greenback slipping 0.2 per cent against a basket of currencies and oil prices rising. The local currency was trading at 74.78 US cents at 0700 AEST on Tuesday, from 74.45 on Monday.

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WASHINGTON — The White House is preparing to release President Donald Trump’s first full budget, a plan that will include a cut of more than $800 billion (A$1.07 trillion) from the Medicaid program for the poor and reductions in other social spending.

BRUSSELS — European Union governments have agreed a common Brexit negotiating plan on Monday and renewed their insistence that they would not open talks on a post-Brexit trade deal until London agrees to settle what it owes the Union.

BRUSSELS — The European Union’s chief Brexit negotiator Michel Barnier says he expects first talks with London on the terms of Britain’s withdrawal form the EU to take place starting on June 19.

LONDON — British Prime Minister Theresa May has been forced to backtrack on one of her most striking election pledges to force elderly people to pay more for their social care after her party’s opinion poll lead halved in just a few days.

OSLO — Renovation work is underway at a vault built on an Arctic island off northern Norway to store seeds from key staple crops after water was detected in an access tunnel.

CANNES — US President Donald Trump may “surprise” people when it comes to acting on climate change, says former vice president and environmental crusader Al Gore.

For More Information: news.com

Finance news you need to know today

HERE are five things making news in business and finance today.

1. SYDNEY — The Australian share market looks set to open flat despite another record close for the Nasdaq. The Nasdaq was lifted by technology stocks, but the S&P 500 and the Dow ended the overnight session on Wall Street flat after mixed economic data and retail earnings. At 0700 AEST on Wednesday, the local share price futures index was up one point, or 0.02 per cent, at 5,855. The Australian dollar was worth 74.26 US cents, up slightly from 74.24 US cents on Tuesday.

2. WASHINGTON — A group that took credit for leaking NSA cyber spying tools — including ones used in the Wanna Cry global ransomware attack — say it plans to sell code that can be used to hack into the world’s most used computers, software and phones.

3. NEW YORK CITY — Facebook’s Instagram has souped up its camera with quirky face- tracking filters, adding another feature similar to one offered by social media rival Snap’s Snapchat.

4. BRUSSELS — Britain may have to wait — and hope — for every single one of its European Union neighbours to give full legislative consent before it can fully benefit from any post-Brexit free trade deal, EU judges ruled.

5. WASHINGTON — Construction of new US homes fell for a second straight month in April, pushing activity to the lowest point in five months.

For More Information: news.com

These are the 5 highest-paying summer internships in finance in the U.S.

Working with money often means you will make pretty good money.

Summer interns who work in finance can make upwards of $5,000 a month. Though that's less than what some of the highest-paying tech giants pay their summer interns (Facebook interns are paid $8,000 a month), for a summer job, it's still pretty impressive.

And working a summer internship is a great first step towards landing a job after graduation.

Here are the five highest paying finance summer internships for 2017, according to recent data from jobs website, Glass door. Observations are pulled from anonymously submitted feedback on Glass door. (In some cases the feedback has been edited for length or clarity.)

 

1. BlackRock
Median Monthly Pay: $5,400
What's it like? "I had a great learning experience on the Risk and Quantitative Analysis team at Black Rock. Things move at a very fast pace, but having Black Rock on your resume goes a long way. I feel the team could've done better in terms of communication. The work culture is not exactly relaxing and friendly

2. Capital One

Median Monthly Pay: $5,000
What's it like? "Very focused on getting you acclimated to the company. Well-managed program, structurally. Top management commitment to program gives interns exposure to high level associates in the bank. Little opportunity to give and get honest feedback to program management. Internship feeds into the Finance Rotation Program (FRP) where employees have little say on the types of roles they will be assigned.

3. Deutsche Bank

Median Monthly Pay: $4,640
What's it like? "The Summer Analyst Program is an evaluation period towards the full-time graduate program. The internship was very well organized with many programs and talks to attend. There were many opportunities to meet senior leaders, and during my time we also met the CEO, John Cryan!
 

"There was fair amount of workload and it got intense in the middle of the internship when we were given additional side projects that counted towards evaluation. But overall, it was a fun and memorable summer! Most people in the class of 30-ish got accepted into the full-time graduate program.
 

"Slow staff and complex procedures due to regulations in banks is a bad combination. It took two weeks to get administrative access on my machine to install required development software.
'You can work really hard or chill as much as you want. The bar is pretty low to get accepted into the graduate program. Everyone gets same benefits regardless of differences in demonstrated performance and experience.

4. Bank of America

Median Monthly Pay: $4,570
What's it like? "You have the opportunity to converse with people at least three levels above you. "You'll present to your manager and their managers.
"The technology piece of the on boarding process wasn't great. The company is growing in certain areas but cutting back in some also.

5. Visa

Median Monthly Pay: $4,480
What's it like? "Everyone tries to treat you like family, and they don't try to act like they are above you. The majority of them just want to be successful and they know that comes with the whole team, not just one person. The hiring process is very black and white. You have to meet per-standardized requirements before getting any position. And then moving up also requires performance reviews which are also very cut and dry."

For More Information: Catherine Clifford

Finance will create new alliances across Asia

Benefits of rivalry include an increase in Japanese lending

Asia must invest $26tn in infrastructure by 2030 if it wishes to resolve a serious shortage of roads, railways, ports, power stations and other basic facilities that threaten to hold back some of the world’s fastest growing economies.

The estimate of required spending, published this year by the Asian Development Bank (ADB), means that 45 countries across the region will need to double total annual spending on infrastructure to about $1.7tn to cope with rapid urbanization and population growth.

Such a shortfall looks hard to bridge, but China’s burgeoning bilateral financing ambitions and a mix of competition and co-operation among multilateral 

development banks could help.

The clearest example of expanding co-operation among multilateral agencies came in April when the World Bank and the China-led Asian Infrastructure Investment Bank (AIIB) agreed to boost co-financing of projects alongside knowledge sharing, staff exchanges and analytical work.

Since the AIIB began business at the start of 2016, it has co-financed five projects with the World Bank.
But the decision to boost co-operation was significant because the AIIB has been seen largely as a rival of western-backed organizations such as the World Bank and the ADB. Deeper integration with the World Bank fits with the AIIB’s “vision of a new kind of internationalism”, Jin Liqun, president of the AIIB, said in a recent interview with the Financial Times.

For More Information:- James Kynge