BUSINESS

Since the launch of Apple's iPad Mini in 34 countries, combined sales of the device and the iPad fourth generation averaged 1 million units daily in the past three days.

While the role of Facebook and Twitter in helping elect and celebrate the Wednesday poll victory of U.S. President Barack Obama has once more been emphasised, the newbie social networking site Google+ appears quiet and out of the political equation.

The advantage enjoyed by online retailers based overseas over bricks and mortar stores insofar as Australian consumers are concerned may soon be removed. A plan by the federal government to collect the general sales tax (GST) for purchases abroad may just level the playing field for both kinds of retailers.

A stress test conducted by the Australia Prudential Regulation Authority (APRA) showed that all major banks in the country passed it. APRA Chairman John Laker, in a Thursday speech in Brisbane, declared that another global economic meltdown would not result in significant losses for Aussie lenders.

- Macquarie visits six Chinese cities- Finds a lack of stress- Canton Trade Fair figures down- Analysts see only modest 2013 export growthBy Greg PeelThe Chinese economy appears to have stabilised from its more rapid than expected slowdown over 2012, if iron ore prices and recent PMI data are anythi...

By Greg PeelThe Dow fell 121 points, or 0.9%, while the S&P lost 1.2% to 1377 and the Nasdaq dropped 1.

The Australian sharemarket fell for the first time in five sessions, with the All Ordinaries Index (XAO) slipping by 0.7 per cent or 32 pts to 4502.2. No sectors were spared from the selling; however local shares are coming off an impressive winning streak, with equities (shares) ending in the red for just two of the past nine sessions.

Abu Dhabi's flagship carrier Etihad Airways, which own 10 per cent of Virgin Australia, has entered into a codesharing agreement with KLM Royal Dutch Airlines to offer Australians greater accessibility and flexibility as they visit and tour Europe and its scenic spots.

These days, Chinese brand Lenovo is touted as the next big thing in the personal computer business, threatening the hold to precarious lead of familiar names like Hewlett-Packard (HP), Dell and Acer.

Now that focus will gear more towards the fast-approaching Christmas season, the Australian Taxi Industry Association (ATIA) has warned commuters and consumers to refrain from using taxis or private cars for hire that used rogue smartphone apps to promote their services.

This is the end of Suzuki's American dream. American Suzuki Motor Corp. informed that it would file for Chapter 11 bankruptcy protection.

Apple’s Chinese partner in production Foxxcon said that it is facing difficulties in keeping up with demand for iPhone 5.

Another legal setback for Apple as the tech giant was ordered Wednesday by a U.S. federal court in Texas to shell out more than $US368 million for patent infringement, stemming from the technology behind FaceTime, the video call feature that is a mainstay on Mac computers, iPhone and iPad.

It's a big week. The race that stops the nation will stop us from coming into our St Kilda headquarters tomorrow. We used to try working on Melbourne Cup day. But we gave up when we realised most people really do take the day off. But don't worry. We've queued up a special US election preview presentation for your enjoyment. Watch out for it.

The Lumia 920, according to Nokia, represents improvements from all the shortfalls found on previous Nokia handsets, potentially making the new Windows smartphone an inviting prospect for consumers planning to indulge on new tech toys come the holiday season.

You may of already had your fill of electoral madness so how about some central banking madness?

Larry Summers, bless his heart, is back on the Financial Times editorial page. He's arguing for more stimulus...more spending...more Barack Obama. We should send him a 'thank you'. He's been great for business.

Richard Koo knows what's going on. At least, to a point. He's a fool, but not an idiot. In Bastiat's terms, he sees the effects of a debt deflation. As for the unseen consequences of the government's efforts to fix it, he doesn't even bother to look.

Today, we Americans will enter voting booths all across the nation to pull the levers that will shape our destiny. Either we embrace the big, expensive promises of the Left or we embrace the big, expensive promises of the Right.

More than 500 personnel from the engineering department of Qantas Airways have been sacked as part of the company's restructuring operations.

Local stocks have followed global markets into the red, as investors bailed out of equities overnight. The Dow Jones Index recorded its worst trading session for 2012, with investors concerned about how the US government would tackle the so-called "fiscal cliff" and help avoid America heading back into recession. Uncertainty over the Greek parliament vote on austerity measures also contributed to a sell-down. Early this morning, the Greek government secured enough votes in parliament to ap...

Apple and Samsung have been battling across the market and in legal matters to prove which is winner, iOS or the Android OS. However, the real winner is determined by sales of its devices, including new releases.

By Greg PeelAs of today we have a Democrat in the White House, a Republican majority in the US House of Reps and a Democrat majority in the Senate, just as we had the day before.

Acting on the recommendations of industrialist Louis Gallois, France will grant businesses 20 billion euros ($25.7 billion) in annual tax credits as a way of boosting the country's economic competitiveness.

A fifth Australian bank will likely soon join the ranks of the Big 4, the monicker for Westpac, National Australia Bank, Commonwealth Bank of Australia and ANZ Bank.

Spanish Prime Minister Mariano Rajoy on Tuesday once again ruled out possibility of his government requesting a bailout from the ECB this year at least; and said that his country can return to economic growth by 2014 as long as it stuck to a policy of fiscal austerity.

Australians will likely be reading more juicy details of the Rinehart family court feud in 2013. On Wednesday, New South Wales Supreme Court Justice Paul Brereton adjourned the multimillion dollar lawsuit over the family trust to March 2013 for pre-trial directions.

By Greg PeelThe Dow fell 312 points, or 2.4% to 12,932, while the S&P dropped 2.4% to 1394 and the Nasdaq lost 2.

The Simpson Desert in Australia's southwest Queensland has claimed the life of a 25-year-old man after the four-wheel drive that carried him and his partner bogged down. His partner is still in recovery.