Economy

Apple pulls latest software update due to glitch; SMEs engage more with China than ASX 300 companies; Shares down on open: Midday Roundup

Broede Carmody /

Apple has admitted its latest iPhone software update had a bug that caused users to lose the ability to receive calls.

Technology Spectator reports the update was developed to include fitness monitoring programs that were omitted from the iOS 8 platform, which was released last week.

The update, which was withdrawn soon after its release on Wednesday, also disrupted the touch identification tool that allows iPhone users unlock their phones with a fingerprint ID – raising security concerns.

In a statement, Apple said it is “working around the clock” to prepare another iOS 8 update, which is scheduled for release in the next few days.

SMEs engage more with China than ASX 300 companies

SMEs are more engaged with China, Taiwan and Hong Kong, according to the latest instalment of the NAB Australia-Asia Business Engagement Index.

The survey measures various areas of trade including imports, exports and off-shoring of products and services.

NAB chief economist Alan Oster said in a statement the index provided a “unique picture” of how Australian businesses are engaging with other countries.

“The index shows that Australia’s engagement with Asia is dominated by product imports and not surprisingly, our engagement is clearly strongest with China across all sizes of business,” said Oster.

“But, it is higher for SMEs than the ASX 300. Outside of China, engagement is typically higher for the ASX 300 compared to SMEs for all countries except Taiwan and Hong Kong.”

Shares down on open

The S&P/ASX200 benchmark was down 53.4 points to 5328.8 points at 12:00pm AEST. On Thursday, the Dow Jones closed down 1.54%, falling 264.26 points to 16,945.80 points.

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Broede Carmody

Broede Carmody is a former senior reporter at SmartCompany. Previously, he was a co-editor of RMIT University's student magazine Catalyst.

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