BUSINESS

Ahead of its official Q2 financial result later this month, Samsung said on Friday that it could net operating profit of $6 billion plus in the period, giving the group 80 per cent spikes from the figures it registered in 2011.

Local stocks are trading in the red on the final session of the week, following weakness in European markets and a mixed finish on Wall Street overnight. The European Central Bank cut interest rates by 0.25pct to a record low of 0.75pct as expected overnight, yet the move failed to excite investors, who instead decided to book profits. US investors were treading water ahead of the key monthly jobs report coming out tonight. At lunchtime in the East, the All Ordinaries Index (XAO) is down 18.5pts...

Australia's richest woman, Gina Rinehart, sold on Thursday part of her shares in Fairfax Media which had denied her a board seat. However, even if she sold $50 million worth of shares, she is still Fairfax's largest stakeholder since she still owns 14.9 per cent of the firm, down from 18.7 per cent.

Manufacturers have accused supermarket giant Woolworths of bullying them into cutting their costs and prices or else be banished from the shelves.

By Peter Switzer, Switzer Super ReportTwo weeks ago I irreverently suggested, with apologies to Kath & Kim, that "I could feel it in me waters" that stocks could be heading up.

By Greg PeelThe Dow closed down 46 points or 0.4% while the S&P lost 0.5% to 1367 and the Nasdaq closed flat.

By Chris Tedder, Research Analyst FOREX.comSince investors in Asia last handed the reins to those in Europe three central banks have taken action to simulate their respective economies/region.

Developers are usually not that open regarding their faults regarding their game content but Blizzard seems to be an exception to that rule.

The local share market closed flat today, ahead of a key European Central Bank meeting where it's widely tipped the ECB will cut interest rates in the Eurozone to a record low of 0.75pct. Wall Street was closed overnight for Independence Day while there was a lack of market moving economic data which also affected guidance. On low volumes, the All Ordinaries Index (XAO) closed down 3.9pts to 4209.9.

Apple has just released its beta version of the iCloud site together with new web applications in preparation for the new OS version from Apple which is iOS 6.

Microsoft is offering the Windows 8 upgrade for a cheap price of only US$40 for a limited period. The Windows 8 upgrade can be availed from Windows XP and above.

It seems even Australia's hotel accommodation industry won't be spared from the carbon tax.

Virgin Australia said on Thursday that it inked a $2.2 billion deal with U.S. aircraft manufacturer Boeing for the delivery of 23 737-MAX-8 over the next 10 years, beefing up the fuel-efficient fleet of the country's second largest carrier.

Google recently announced through the company's blog post that they will be shutting down 5 more Google services. This is in accordance to the company's "spring cleaning" program.

Resigned Barclays chief executive Bob Diamond admitted before the British Parliament that bank personnel may have been involved with low balling or rate fixing since 2005 but insisted that he no direct knowledge of the illegal practices until three years ago.

Qantas's worst fears of further losing share of the lucrative domestic market were confirmed. Aviation industry reports said that Virgin Australia ferried more domestic passengers in the past 12 months to May compared to Qantas.

The local share market is trading virtually flat at lunchtime in the East, on low volumes. Investors haven't been given a lot of guidance with Wall Street closed overnight for the Independence Day holiday and many treading water ahead of the European Central Bank's rate decision tonight, where it's tipped rates could be cut to a record low of 0.75pct. At lunchtime in the East, the All Ordinaries Index (XAO) is down 10.4pts or 0.2pct to 4203.4.

While the Opposition, the New South Wales government and some businesses such as bakery chain Brumby's are blaming the carbon tax for rise in prices, Australia's retail industry is rejoicing because the carbon compensation caused the sector's growth rate to hit a two-year high.

By Greg PeelEuropean stock markets had been on a tear since the EU summit produced a welcome result but the next step in the process is to see what further relief the ECB might be able to provide.

Virgin Australia has launched codeshare services with Virgin America in conjunction of this year's Fourth of July celebrations.

What Apple has been harping about, and with late affirmation coming from both Microsoft and Google, got another boost this week as research firm NPD DisplaySearch declared that mobile computing will be core of the tech world and tablet computers will fuel its growth.

Nokia Lumia is the product of both Nokia and Microsoft as it teams up to have a bigger share of the smartphone market that is being dominated by Apple and Google Android.

Microsoft and Google has just released their newest tablet models in the market with the hopes of claiming a market share in the growing tablet demand. Presently, Apple is dominating the tablet market share with their own iPad line but this new products from Microsoft and Google would surely ensure a very competitive atmosphere in the market.

Microsoft is set to release Xbox 720 sometime in the near future and there are new rumors speculating that Microsoft has plans of changing the name of the gaming console from Xbox 720 to Xbox 8.

Facebook, the popular social networking site, is known for having the "like" button. There are recent reports stating that Facebook is now developing a "want" button in order to have another source of revenue for Facebook.

According to the reports released late on Friday, Bristol-Myers Squibb Co (BMY) is planning to buy Amylin Pharmaceuticals Inc (AMLN), a biotechnology company, for nearly about 5.3 billion dollars cash price.

Android 4.0 or Ice Cream Sandwich (ICS) was first introduced to the public last year. Ever since it was introduced, statistics show that Android ICS update has already rolled out for 10.9% for all Android-based devices.

Recent reports are stating that the next-generation iMac will have the popular Retina Display feature that recent Apple devices have. The target date for the iMac with Retina display is set to be around October, 2012.

Giant telco Telstra Corporation introduced this week its fresh service offering called 'Everyday Connect', which the company said will provide flexibility to subscribers' shifting communication habits.