THE NEWS WRAP: NSW business conditions nosedive: study

Small businesses in NSW are enduring conditions worse than at any time since the GFC, according to a new study.


A quarterly survey of 7,000 of companies by the New South Wales Business Chamber found that 49% reported a drop in profits, with 35% saying that conditions deteriorated in March


Slipper stands aside as speaker


Peter Slipper has stepped aside as federal parliamentary speaker, in the wake of allegations of sexual harassment.


The independent MP said that that he will relinquish his role as speaker while he is investigated over claims of inappropriate behaviour towards an aide and unwarranted expenses claims.


Quora set for fundraising


US tech start-up Quora is reportedly set to raise more than $US30 million in funding, valuing the business at $US400 million.


According to TechCrunch, Quora co-founder Adam D’Angelo is set to invest his own money – up to $US20 million – in the venture. Quora is an online resource that allows people to ask any question, with the answers crowdsourced from its users.




The Dow Jones industrial average was up 65.16 points, or 0.5%, to 13,029.26 on Friday. The Australian dollar was steady at 103.25 US cents.


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