THE NEWS WRAP: ASIC attacks the quality of company reports

The Australian Securities and Investments Commission has attacked the quality of company reports, claiming that many businesses were failing to provide enough information.


The corporate watchdog said that firms were guilty of “general descriptive comments” instead of a detailed analysis of why a particular financial result was achieved.


Skype suffers outage


Millions of people around the world have been hit by a major outage of the internet phone service Skype. Skype said that its engineers were working to fix the problem, which is the first significant down-time suffered by the service since 2007. Increasing numbers of businesses have turned to Skype as a low-cost alternative to landlines.


YouTube notches 700 billion views


A total of 700 billion YouTube videos were viewed in 2010, the Google-owned portal has announced. In May, YouTube announced that it had passed two billion video views a day. 




The Australian dollar was up on its US counterpart, climbing to 99.91 US cents.


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