Facebook is looking to become a competitor of Snapchat, according to a report by the Financial Times.
It follows a failed attempt by Facebook to purchase Snapchat for $US3 billion last year.
Facebook founder Mark Zuckerberg is said to be heading up the project, which is rumoured to be called Slingshot.
AT&T purchases DirecTV
US telecommunications giant AT&T has agreed to buy DirecTV for $US48.5 billion.
DirecTV’s pay TV service covers much of the US and a substantial portion of South America, in addition to a cable TV and broadband service called U-Verse.
AT&T will frame the purchase as a way to provide internet access to areas of the US that don’t have reliable coverage yet.
Chromecast arriving in Australia?
Electronics store Dick Smith briefly posted a listing on its website for Google’s HDMI Media Streaming Device Chromecast, which stated it will be available for $49 on the May 28.
The listing has since been taken down.
The Chromecast was released in the US in July last year but still is not officially available in Australia.
The Dow Jones Industrial Average is up 44.50 to 16,491.31. The Australian dollar is currently trading at US94 cents.