Google has struck a deal to buy Motorola Mobility for $12.5 billion, in a move set to significantly impact the smartphone market.
The search giant said the deal, set to be completed by the end of the year, will “supercharge” its Android operating system.
The acquisition comes just seven months after Motorola split in two, with Motorola Mobility overseeing the company’s mobile phone offering.
Retail body savages Australia Post
The National Retail Association has lashed out at Australia Post for allegedly aiding overseas online retailers at the expense of domestic stores.
The NRA also attacked Visa and eBay for contributing to the sector’s woes in its submission to the Productivity Commission. It accused Australia Post of failing to properly screen packages that come under the $1,000 GST-free threshold.
Supermarkets in “phoney” ad war
Woolworths and Coles are engaged in a “phoney” advertising war, with consumers unable to tell the difference between the two brands, according to a report in The Age.
The newspaper quotes advertising executives who claim that the supermarket giants’ marketing strategies aim to increase the overall market share, rather than truly differentiate each other.
The Dow Jones Industrial Average leapt by 213.88 points to 11,482.90. The Australian dollar rose to 105.01 US cents.