Oct 3 Australian shares are expected to trade in positive territory on Monday as Deutsche Bank's shares recovered from record lows on a report it is close to a settlement with U.S. authorities over the sale of toxic mortgage bonds. Deutsche Bank shares, which hit a record low earlier on Friday, extended their recovery after the AFP news agency said the bank was near to a settlement for $5.4 billion. The local share price index futures climbed 0.6 percent or 30 points to 5,446, a 10.1-point premium to the underlying S&P/ASX 200 index close. The benchmark finished 0.65 percent lower on Friday. New Zealand's benchmark S&P/NZX 50 index inched lower by 0.1 percent to 7,351.49 in early trade. For a summary of overnight action across global markets, double click on For a digest of the day's business stories in Australian newspapers, double click on (Reporting by Shashwat Pradhan in Bengaluru; Editing by Wayne Cole)
Fed official stands by Wall St reforms, says must complete work
NEW YORK, Dec 3 The United States "absolutely must" complete unfinished work ending the too-big-to-fail bank problem that helped plunge the global economy into recession eight years ago, an influential Federal Reserve policymaker said on Saturday.
'Drop those rates' Turkey's Erdogan says in new appeal for lower borrowing costs
ANKARA, Dec 3 Turkish President Tayyip Erdogan on Saturday repeated his call for lower interest rates and said the government would take steps to ensure cheaper borrowing costs to promote consumption and economic growth.