THE NEWS WRAP: Has YouTube killed the indie rock star?

Independent musicians could disappear from YouTube in a matter of days after Google confirmed the popular video streaming service would drop content from independent labels that have not signed up for its upcoming music streaming service.

Google is set to begin testing the new service, rumoured to be called YouTube Music Pass, in the next few days, with a launch expected later this year.

Democrats defend net neutrality

Democrat party lawmakers in the United States are set to unveil a piece of legislation that would force the Federal Communications Commission to ban internet fast lanes.

The proposal requires the FCC to use whatever authority it sees fit to make sure internet providers don’t speed up certain types of content at the expense of others.

eBay Valet app launched

The online shopping giant is expanding its eBay Sell For Me service to mobile with the launch of a new app called eBay valet.

The app promises to take every step of the selling process and automate it.

It’s designed to make online selling easier for first-time sellers and anyone who doesn’t have the time to handle a listing themselves.

Overnight

The Dow Jones Industrial Average is up 27.48 to 16,808.49. The Australian dollar is currently trading at US93 cents.