And the Australian dollar is worth around 87.5 US cents. It'll also buy you around 53 British pence and one dollar eight New Zealand.

 

The corporate regulator says it will not pursue two David Jones directors who increased their shareholdings in the company the day after Myer proposed a merger. Myer made a confidential merger proposal in late October last year, but it was rejected by the DJ's board a month later. The directors had been under investigation by corporate regulator because the trades came two days before a company sale report. But the Australian Securities and Investments Commission says it's investigated the matter and considered all relevant information including the conditional proposal and they decided to take no further action. 

 

Official figures show the US economy grew at the fastest pace in three years. America's economy grew at an annual rate of just over three percent. Strong consumer spending and robust exports drove growth over the period. Many economists are predicting 2014 will produce the strongest growth since the end of the US recession in 2009.