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Finance News Update, what you need to know

WORLD FINANCE UPDATE:

The Australian share market looks set to open slightly lower despite a mainly positive lead from Wall Street following the denuclearisation deal struck between the US and North Korea.

At 0700 AEST on Wednesday, the share price futures index was down eight points, or 0.13 per cent, at 6,047.

Meanwhile, the Australian dollar has slipped as a rise in its US counterpart dents other major currencies.

The local currency was trading at 75.72 US cents at 0700 AEDT on Wednesday, from 76.10 on Tuesday.

ELSEWHERE:

CHINA - Beijing suggested the UN Security Council could consider suspending or lifting sanctions against North Korea if Pyongyang is in compliance with UN resolutions and making progress in diplomatic negotiations.

WASHINGTON - US consumer prices rose marginally in May amid a slowdown in the pace of increases in the cost of petrol, pointing to moderate inflation pressures.

WASHINGTON, DC - White House economic adviser Larry Kudlow, a staunch defender of President Donald Trump's tough stance on global trade, will remain in a Washington-area hospital but was expected to "make a full and speedy" recovery after suffering a heart attack.

LONDON - British Prime Minister Theresa May has defeated a rebellion in parliament over her Brexit plans, but not without having to compromise and hand lawmakers more control over Britain's departure from the European Union.

NEW YORK CITY - Tesla is cutting about 9 per cent of jobs across the company, billionaire chief executive Elon Musk says as it seeks to reduce costs without endangering the critical ramp-up of production of its Model 3 sedan.

WASHINGTON - AT&T Inc has won approval from a US court to buy Time Warner Inc for $US85 billion ($A112 billion), dealing a blow to President Donald Trump's move to block the deal and likely setting off a wave of corporate mergers.

HANOVER - Some 73,000 eggs due to be sold across six German states are contaminated with the insecticide fipronil, the Agriculture Ministry in the state of Lower Saxony says.