WORLD FINANCE UPDATE:
The Australian dollar is higher, after positive market sentiment helped US stocks have a strong end to the week.
At 0630 AEDT on Monday, the local unit was trading at 72.34 US cents, up from 71.99 cents on Friday.
And the Australian share market looks set to open flat despite gains on Wall Street which lifted on Nike's dividend increase and strong earnings.
At 0645 AEDT on Monday, the December share price index futures contract was down five points at 5,259.
ELSEWHERE:
BERLIN - German auto giant Volkswagen will cut investments by 1 billion euros ($A1.49 billion) in 2016, says its chief executive, as the group seeks to scale back on spending to cope with its massive pollution cheating scandal.
WASHINGTON/WOLFSBURG, GERMANY - Embattled German carmaker Volkswagen has submitted a recall plan to the US for 480,000 cars that had emissions-cheating software installed, the California Air Resources Board (CARB) has confirmed.
WASHINGTON - Volkswagen has told US regulators that emissions issues in larger luxury cars and SUVs extend to an additional 75,000 vehicles dating back to 2009.
NEW YORK - Tesla Motors Inc is recalling all 90,000 Model S sedans produced to check for a possible defect in the front seat belt assemblies.
FRANKFURT - ECB chief Mario Draghi says the bank will "do what we must" to lift inflation as quickly as possible, in a new sign it could boost its anti-deflation defences.
LONDON - Britain's deficit grew last month to the worst October level for six years, data shows, dealing a blow to finance minister George Osborne one week before his budget update.
SAN FRANCISCO - Facebook boss Mark Zuckerberg will take two months of paternity leave after his daughter's birth, a strong statement from one of the busiest and most powerful US executives on the importance of family time.
RIO DE JANEIRO - A deadly mine waste spill that buried a village and contaminated a river basin two weeks ago is the worst environmental disaster in Brazilian history, the environment minister says.
