APN News & Media has taken a 25% stake in Friendorse, a Pollenizer-backed web start-up that provides users with community-based recommendations for local businesses.
APN, which publishes more than 100 newspapers in Australia and New Zealand, will also partner with Pollenizer, the Sydney-based tech incubator, to fund a program that will look to unearth new digital business models.
ASIC warns traders over hackers
The Australian Securities and Investment Commission (ASIC) has warned online share traders to upgrade their security arrangements after hackers broke into some accounts and bought shares.
The corporate regulator said that at least a dozen accounts have been hacked into. It said that it was the first time that hackers have managed to make transactions on Australian share trading sites.
Wilkie defection could impact federal budget
Labor’s budget plans could come under pressure following independent MP Andrew Wilkie’s decision to withdraw his support from the government, according to reports.
Wilkie has walked away from his deal with the Gillard government after it decided to adopt a watered-down version of his proposed poker machine reforms.
The Dow Jones industrial average was up 96.50 points, or 0.76%, to 12,720.48 on Friday. The Australian dollar rose to 104.59 US cents.