Australia shares set to inch higher; NZ flat

June 27 - Australian shares are expected to open marginally higher on Tuesday, tracking meagre gains on Wall Street and helped by basic materials and energy stocks. Oil prices settled more than half a percent higher on Monday as some traders found bargains after last week's seven-month lows, while bets on tighter supplies from government-enforced cutbacks led to a rise in China's steel prices. The local share price index futures rose 0.04 percent or 2 p

3:52am IST

Chicago schools to pay hefty 6.41 pct rate on second note tranche

CHICAGO, June 26 The Chicago Public Schools finalized the second and last part of a short-term loan, placing $112 million of notes with J.P. Morgan at a huge initial interest rate of 6.41 percent, the cash-strapped district reported on Monday.

3:48am IST

UPDATE 1-Former Brazil finance minister sentenced to 12 years

SAO PAULO, June 26 A Brazilian court sentenced former finance minister Antonio Palocci to 12 years in prison on Monday for corruption and money laundering, potentially bringing the sweeping "Operation Car Wash" graft investigation closer to the financial sector.

3:47am IST

UPDATE 1-Cambuhy, Itaúsa team up for control of Brazil's Alpargatas

SAO PAULO, June 26 The investment holding companies overseeing the fortune of Brazil's most prominent banking dynasties have teamed up to explore the purchase of a majority stake in footwear and apparel maker Alpargatas SA, whose controlling shareholder is working on a sale.

3:42am IST

BRIEF-Houzz closes $400 mln series E financing led by Iconiq Capital

* Houzz says that it has closed a $400 million series E financing led by Iconiq Capital Source text for Eikon:

3:33am IST

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Trump, Modi seek rapport despite friction on trade, immigration

WASHINGTON U.S. President Donald Trump and Indian Prime Minister Narendra Modi met for the first time on Monday, seeking to develop a warm relationship despite differences over trade, immigration and the Paris climate accord.