THE NEWS WRAP: Apple unveils multicoloured low-cost iPhone 5C

Apple has updated its iPhone product line, introducing a new low-cost version called the iPhone 5C alongside an updated high-end version, the iPhone 5S.


The iPhone 5C will be available in five colours, with the device going on sale in China at the same time as the US.


Meanwhile, as widely anticipated, the iPhone 5S will be available in white, grey or gold and include a built-in fingerprint scanner.


Switkowski could head the NBN


Incoming Communications Minister Malcolm Turnbull is refusing to confirm rumours Ziggy Switkowski could be the new NBN Co chief executive, despite praising the former Optus and Telstra chief executive in an interview.


“[Switkowski is] obviously highly qualified and I think most people regard him as an eminently suitable person But no decision has been taken by a Coalition government because we haven’t even been sworn in yet,” Turnbull says.


“While I have no criticism to make of any of the individuals, it is remarkable that there is nobody on that board who has either run or built or been responsible for building or managing a large telecommunications network.”


HP dumped from Dow Jones Industrial Average


Troubled computer giant Hewlett-Packard is one of three companies set to be dropped from the Dow Jones Industrial Average, with Alcoa and Bank of America also losing their official blue-chip status.


The changes, set to take place on September 23, will see Goldman Sachs, Visa and Nike take their places in the index.


[The changes] were prompted by the low stock price of the three companies slated for removal and the Index Committee’s desire to diversify the sector and industry group representation of the Index,” S&P Dow Jones Indices says in a statement.




The Dow Jones Industrial Average is up to 15191.06. The Aussie dollar is flat at US93.18 cents.


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