The value of Australian merger and acquisitions activity is due to hit heights not seen since 2007, following a series of deals worth $17 billion.
The increase in activity, according to The Australian Financial Review, shows the growing willingness of companies to do deals, potentially opening the way for more start-ups to be swallowed up by larger rivals.
Retailers criticised for card surcharges
An unlikely alliance of consumer group Choice and the major credit card companies has warned of excessive surcharging by retailers. According to a report by Choice, airlines, travel agents and taxi businesses have confused customers by adding surcharges to credit card use.
Facebook unveils messaging service
Facebook has launched a new messaging service that is set to provide stern competition to the likes of Google and Yahoo. The service is designed to merge email, instant messaging and SMS text messages via a single inbox with an ‘@facebook.com’ email address.
However, Facebook founder and CEO Mark Zuckerberg says that the new service won’t be an “email killer.”
The Australian dollar slipped to 98.95 US cents while the Dow Jones Industrial Average gained 77.58 points.