BUSINESS

Microsoft announced Tuesday the next version of the Windows Phone operating system, code-named Mango, has been delivered to manufacturers and carriers.

While at the start it was Google Plus that was highlighting Facebook's shortcomings, Facebook is now turning the tables around by providing a one-stop-shop (it's free) that would aid businesses take advantage of Facebook's mass user base.

AFTERNOON REPORT (4.30pm AEST)Higher than expected inflation data, coupled with the ongoing stalemate over the US debt crisis, saw local stocks lose ground today. White House officials are still confident a deal to raise the US government´s borrowing power will be agreed upon before the August 2nd deadline, however the worry now is that the US could still have its AAA credit rating downgraded.

Industry groups in Australia have expressed concern as the value of the local currency surges pass the usual parity against the U.S. dollar. Is the rising Australian dollar a blessing or a curse to the domestic economy?

By Greg Peel"I'm sure people are sick of hearing me say," said Glenn Stevens at the Anika Foundation address in Sydney yesterday, "Australia is in the midst of a once-in-a-century event in our terms of trade.

Zynga Inc., the largest developer of games on Facebook, will offer a version of "CityVille" in China, the world's biggest Internet market.The free online game, named "Zynga City", will be offered through an alliance with Chinese internet service provider Tencent Holdings Ltd. The game will be launched in open beta on Tencent's Pengyou network in the next few days. The game will be later accessible on QZone, China's main social games platform. Tencent had about 101 mil...

- Campbell Brothers lifts earnings guidance at AGM- Increase reflects strong lab testing volumes and benefits from recent acquisitions- Valuation is an issue for some stockbrokers, but Macquarie upgrades to OutperformBy Chris ShawThe laboratory services market remains strong if AGM commentary from C...

Almost always, Apple never fails to please its loyal followers and tech watchers, the same way that it did last week when the Cupertino, California-based tech giant unveiled the upgraded MacBook Air that is juiced up by Intel’s Core i5 and i7 processors.

Struggling industrial conglomerate Alesco Corporation seems to have emerged from a couple of years of tough times, losses and lean profits.

Reserve Bank Governor Glenn Stevens has once again demolished a storyline from the investment markets that had developed about retailing and consumer spending.

Realcommercial.com.au has long been the dominant commercial real estate portal in Australia. However, this position is under threat, as they face increased competition from new entrants, the ending of guaranteed revenue agreements and improvements to competing portals.

US new home sales fell by 1pct to a 312,000 annual rate in June. Economists had tipped a result near 320,000. US consumer confidence surprisingly rose from 57.6 to 59.5 in July, ahead of forecasts centred on a result near 56.0.

US stocks fell Tuesday as the deadline for raising the government's debt ceiling stood just one week away, with no signs of a resolution to the bitter standoff in Washington.

- Tui has proven AWE's jewel in the crown- Tui's reserves have been downgraded by 50%- AWE now has a lot riding on shaleBy Greg PeelOne might be forgiven for assuming the Australian energy sector has provided substantial shareholder returns over the past five years, what with the price of ...

The iPhone 5 will be out this fall, that is, if it will be launched simultaneously with the iOS 5.

Research In Motion Ltd., the maker of the BlackBerry smartphones, said it will terminate 2,000 jobs, or almost 11% of its workforce, amid losing market share to Apple Inc.'s iPhone and smartphones running on Google's Android operating system.

SanDisk Corp. has introduced SanDisk Ultra, a new line of solid-state drives for old laptops and desktop computers. SanDisk is marketing the new SSD's -- which it says is more cost effective than purchasing a new computer -- directly to retail consumers instead of PC makers.

Should Australia have tighter privacy laws to avoid a similar phone hacking scandal involving the media? Treading on press freedom and creating policies to protect individual privacy are delicate issues that government authorities and law makers are assessing amidst the phone hacking issue in the United Kingdom involving News Corp owned by Rupert Murdoch, serving as a test case for media organizations in the country.

Banks in Australia will be put to a test by the contagion of a looming global financial crises spiraling from Europe to the United States now facing a politically charged debt crisis.

Major Australian bank Westpac (ASX: WBC) says it is progressively restoring payments following a disruption to normal payment operations overnight.

Group buying in Australia is relatively new, being only introduced in 2010 but, it has become the fastest growing sector in the online retail market. In its initial year group buying websites in Australia have already generated 63 million dollars in sales, according to a study in telsyte.com.

By Greg PeelIndustry consultant TradeTech noted the week before last that buying in the spot uranium market had become "highly discretionary" and that participants were expecting flat to weaker prices in the near term.

Chris Paine just called with good news. His film "Revenge of the Electric Car" - the successor to the big hit, "Who Killed the Electric Car?" - is slated to open widely (or certainly wider than it has so far) on Oct. 22. If you haven't seen the original, you need to remedy the situation.

AFTERNOON REPORT (12pm AEST)The local share market is trading higher at lunchtime in the East, despite a negative offshore lead on continued worries over the US debt crisis. US President Barack Obama has addressed his nation within the last hour, telling Americans Democrats and Republicans have still not agreed on a solution to stop the government from defaulting on its debt repayments ahead of the August 2nd deadline. However, local stocks, which were heavily oversold yesterday, are today ...

By Richard (Rick) MillsAhead of the HerdAs a general rule, the most successful man in life is the man who has the best informationThe Earth's climate has been continuously changing throughout its history.

An innovative, Australian-first electronic logbook system that is set to modernize and transform company tax reporting is about to launch into the Australian market.

Markets are shaky as the American political classes show the rest of the world their irresponsibility and inability to see the bigger picture, especially the so-called Tea Party newcomers in the U.S. House of Representatives.

By Greg PeelThe Dow closed down 88 points or 0.7% while the S&P lost 0.6% to 1337 and the Nasdaq was down 0.

Consumers are given better access to lower-priced internet service, according to Minister for Broadband, Communications and the Digital Economy, Senator Stephen Conroy citing one of the key benefits of the National Broadband Network (NBN) network.