And the Australian dollar is worth more than 104 US cents this morning. It'll also buy you 65 British pence and almost 127 New Zealand cents.

 

 

 

Germany has rejected a deal with Switzerland to tax German citizens' assets stashed in Swiss Bank accounts. Germany's opposition--Greens and Social Democrats rejected a last-ditch appeal by the Finance Minister for the tax deal, saying the legislation would have let tax evaders off too quickly. The Swiss banking industry says Germany missed a possible solution to settle the bi-lateral tax issues. 

 

 

 

In the United States, the shopping frenzy, known as Black Friday, has kicked off gains on Wall Street as markets focus on retail sales. The National Retail Federation says it expects sales to grow by 4.1 per cent, a big down on the previous year. The stakes are high for retailers, which can earn more than a third of their annual sales during the holiday season.