BUSINESS

Australian wine marker Treasury Wine Estates will destroy gallons of wine recently because of weak wine sales in the U.S. The company said it would charge the losses, estimated at $145 million, against its U.S. business for the fiscal year that ended June 30.

With the 28th World Day of Youth (WDY) just a mere six days away, the Vatican has released the itinerary of Pope Francis for the anticipated global event to be held in Brazil from July 23-29.

Since Google's coup with Woolworth's, the tech giant has added thousands of enterprise users in Australia. Among the companies that recently signed up for Google's corporate solutions are Woolworths majority-owned Australian Hospitality & Leisure and top women's fashion retailer Specialty Fashion Group.

Apple and Samsung relationship has been on the news for quite some time. Both companies claim the other violated legal provisions. As the tension continue to intensify, Apple started sourcing out to other parties for the components of their upcoming iPad mini 2 and iPad 5. Can Apple really ditch Samsung and produce their upcoming mobile devices successfully?

Apple promised they will probe into the death of a woman who supposedly died because of her iPhone 5. The woman died while she was charging her phone at home. Initial reports indicate death was due to electric shock.

According to data on the Chinese economy, growth in the second quarter declined to 7.5% from 7.7% in the quarter leading up to March. China is one of Australia's biggest importers of natural resources. Analysts say that demand for Australian resources is still high in China and is unlikely to fall.

Tech manufacturers like Acer are gearing up for the release of Google’s Nexus 7.2. The hype around the device reveals the increasing demand and shifting interest over tablets on the market. Acer is planning to take advantage of this increasing demand – the company plans to release a tablet running on Tegra 4 chipset.

US stocks closed higher again, another record high for the Dow Jones and the Broader S&P 500 indices. Good numbers from Citi group helped send not only the US indices but also the UK banking sector overnight. Boeing shares higher after Friday's slump. The US building sector was held back yet again - as investors start to look at the rising 30 year mortgage rates in the states and weight up the chances of a pullback in home lending rates.

Expect sales of the Ford Focus to zoom because the model just got a poster boy who has 1.2 billion followers. Pope Francis arrived on Monday at the papal summer residence Castel Gandolfo aboard a Ford Focus, which costs $16,000.

By Andrew NelsonWhile anticipation of the upside from Japanese reactor restarts continued to slowly build, spot traders have decided to forge their own path.

Is technology giant mending fences with its competitors after filing lawsuits against them left and right? It appears so based on two news reports that came out on Monday.

By Greg PeelThe Dow rose 19 points, or 0.1%, while the S&P gained 0.1% to 1682 and the Nasdaq added 0.

- TWE writes down US inventory- management still operating on blind faith- value lies only in corporate actionBy Greg PeelCelebrated British wine expert and TV personality Oz Clarke unwittingly launched Australia's highly successful export wine industry back in the 1980s, according to a recent ...

The phablet war is expected to further intensify in September amid reports that Taiwanese tech firm HTC will launch the One Max on the last month of the third quarter of 2013. The rumour came from Mobile Geeks, a German mobile site.

Local shares managed to rise modestly after economic news in China failed to surprise. The All Ordinaries Index (XAO) edged higher by just 0.2 per cent, while the miners and consumer staples were two of the only losing sectors. Equities improved for the fifth consecutive day, making it the longest winning streak for the Australian market in two months.

Asiana Airlines is thinking of suing a San Francisco-based television network over irresponsible racist report

Asus and Google team proved to be successful with the Nexus 7. The market is anticipating their next collaboration as Google is set to release the second Nexus 7. Reports say, it will be called Nexus 7.2.

Banks in Australia have the highest concentration of residential mortgages than any other type of institution in the world, making them vulnerable to a possible house price correction according to the analysis of a leading credit market economist. Since houses in Australia are overvalued, many Australians consider housing affordability an issue. This is true especially for voters as housing ranks ahead of border security, broadband and education among the issues government must focus on.

Not much in the markets to draw our attention. Other than another pronouncement by the Fed that it will remain 'highly accommodative' for the so-called 'foreseeable future'.

Samsung seems intent on crushing every competitor out there. Apart from the company’s ongoing rivalry with Apple, it also now appears to be going out to challenge ASUS. Recent sighting of Samsung’s patent reveal the company is working on something similar to Asus Padfone.

The Australian market was subdued from morning to mid-day at the start of this week as investors become cautious while awaiting key data regarding China's economy. Some investors took profits after recent market gains, contributing to the fall.

That's the word from SRT president and CEO Ralph Gilles, who took to social media on the weekend to deny rumours that the 99-year-old car maker's days are numbered.

After a slim gain on US markets on Friday the Aussie market has started off slightly stronger. Then by 11.50am the All Ordinaries Index (XAO) only off 6pts.

Razer Blade has been leading the pack for gaming computers. Their range of laptops has gained an excellent part of the market. The release of the latest 2013 Razer Blade signals another venture for the company. Their latest draws comparison to Apple’s Macbook Pro with Retina display. With the features almost similar to one another, will Razer Blade give Apple a run for its money?

Apple announced last month at the 2013 Worldwide Developers Conference its plans on releasing another Macbook Air. The popular thin and light notebook will be running on Intel Haswell offering people the promise that the latest Macbook Air will have a great internal upgrade.

By Michael Lombardi, MBA for Profit ConfidentialDid the Federal Reserve just tell us it wants much higher inflation?In the most recent meeting minutes from the Federal Open Market Committee (FOMC), it said:"Most [members], however, now anticipated that the Committee would not sell agency mortgage-ba...

Apple fans would have to wait for sometime before the Retina Display arrives on the iPad Mini 2. Several reports indicated the Retina would likely have a full launch by 2014, at the earliest.

Despite weak sales, Canadian phone maker BlackBerry is determined to regain its number one position in the mobile phone market by planning the release of a new flagship device by the second half of 2013. The A10, featuring a 5-inch Super AMOLED display, dual-core processor and a separate graphic processor, will roll out by fall.

iQuant predicts limited upside for the week ending 19th July 2013. Short term indicators suggest the 4957 level will hold.