A former government advisor has criticised Labor for potentially deterring overseas investment in this week’s budget.
According to the Australian Financial Review, Mark Johnson said he will be asking Treasury about the “unwelcome signal” to double the withholding tax for foreigners investing in managed investment trusts.
Angry Birds developer set to match Nokia
The business behind the popular Angry Birds game has been valued at $8.8 billion – almost as much as mobile phone giant Nokia.
Rovio Entertainment, which was started by three students, saw sales increase tenfold to $US61 million last year.
Microsoft launches 3D work environment
Microsoft has launched a new augmented reality system that allows users in different locations to work together as if they were sitting on the same table.
The MirageTable uses a 3D project to beam images onto a curved surface, tricking users into thinking they are sitting opposite someone else.
The Dow Jones industrial average was down 50.71 points, or 0.39%, to 12,881.38. The Australian dollar dipped to 100.51 US cents.