BUSINESS

It has been a busy week for Apple Inc. (NASDAQ: AAPL), the world's most valuable tech company. On Wednesday, it unveiled its next generation iPad, which features a higher-resolution display, a new processor, and support for high-speed 4G LTE data networks.

Glencore, bent on securing enough support from Xstrata shareholders, has taken an offensive stance on its quest to push through with the highly touted 'merger of equals' worth $US36 billion amidst spirited opposition from investors of the target firm.

Some 600 jobs will be lost in the insurance industry over the next three years as Insurance Australia Group (IAG) revealed on Friday plans to reduce its workforce to counter the high costs that hit the firm last year.

Australian users hooked on social media activities breached the six billion mark in 2011, according to a marketing report recently released by Internet research company Experian Hitwise.

ANZ Bank announced on Friday that it would raise it fixed home loan interest rate by 20 basis points to 6.34 per cent. It is the first among the big four to adjust interest rates after the Reserve Bank of Australia (RBA) retained this week the current overnight cash rate at 4.25 per cent.

Local stocks are tracking higher on the final day of the trading week on growing optimism Greece will receive enough support for its debt swap deal. Private sector creditors are expected to sign off on the agreement by 5pm AEDT. At lunchtime in the East, the All Ordinaries Index (XAO) is up 18.4pts or 0.4pct to 4280.6.

Embattled Australian flag carrier, Qantas, is back to square one after it stopped talks with Malaysia Airlines for a premium carrier in Kuala Lumpur. Qantas Chief Executive Alan Joyce explained the bog down of talks to failure of both airlines "to reach mutually agreeable commercial terms."

Economists warned on Friday that the country's unemployment rate would continue to rise in the coming months. They explained their outlook to jobs generation moving at a slower pace compared to the growth in labor force.

Residential prices in Oman are significantly down from their 2008 peak, especially within Integrated Tourism Complexes (ITCs).

Rudi Filapek-Vandyck, Editor FNArenaI joined Twitter. Not because I am curious what this celebrity has to say about her kids, or to read that another one is waiting for a connecting flight, impatiently.

Hybrid, clean diesel, electric and natural gas models have been named Green Car of the Year since the award began in 2006.

Yesterday's labour force data from the Australian Bureau of Statistics won't make the current state of the economy's health any clearer. They were confusing.

After a solid January when the market grew around 5% in January, but since then it had slowed. In February it barely grew, rising 0.8%.

U.S. stocks coasted higher Thursday as optimism increased that Greece will complete a debt-swap deal.

New claims for unemployment insurance in the US rose by 8,000 to 362,000 in the latest week, ahead of forecasts near 351,000.

By Greg PeelThe Dow closed up 70 points or 0.6% while the S&P gained 1.0% to 1365 and the Nasdaq added 1.

By Rudi Filapek-Vandyck, Editor FNArenaYour Editor had the pleasure to host this week's Friday Afternoon Round Table and thus the formalities on screen were a little bit different than usual.

There were already countless number of news reports and rumors circulating the Internet even before the official release of Apple's 3rd generation iPad. This news frenzy generated a bigger hype regarding the release of the new iPad but was the hype worth it?

The new iPad which was finally revealed last March 7, 2012 during an official Apple event changed the whole tablet war once again because of the specifications in the new iPad. Instead of calling it "iPad 3", Apple decided to just call name it as the "new iPad" and its improved specifications and features mean that Android tablets have to step up their game in order to compete with the new iPad.

Apple recently released the new iPad last March 7, 2012 during Apple’s official event in San Francisco. Many people all over the world were anticipating the official information for this new iPad and Australia was no exception regarding this matter.

The Commonwealth Bank of Australia (CBA) and Optus were fined for their misleading advertisements. It is the second violation for CBA with the Australian Securities and Investments Commission (ASIC) in two months.

Virgin Australia could soon open its doors for foreign investors to come in, with reports that the Richard Branson-controlled airline is nearing completion on efforts to remove ownership caps.

The Spanish bank Santander, which is also the largest lender in Europe, announced on Thursday that it opened its first branch in Sydney. The opening of its first Australian unit is seen as the bank's way of boosting its presence in the Asia-Pacific region.

Expect tougher competition in the Australian skies as two airline companies initiate changes in a bid to capture a larger cut of the country's travel market.

Both the Chevrolet Volt and its cousin, the Opel Ampera, have been named the 2012 European Car of the Year.

Australia's unemployment rate returned to 5.2 per cent in February, the Australian Statistics Bureau (ABS) reported on Thursday. The rise was expected by analysts as banks, manufacturing companies, construction firms and other Australian companies announced axing of jobs by the hundreds last month.

By Greg PeelOh God, when will it ever end!?That has perhaps been the catch-cry of global investors over the past two years.

Despite an initial dip when the February jobs numbers were released, the local share market is trading higher at lunchtime in the East, following positive offshore leads. The All Ordinaries Index (XAO) is firmer by 21.3pts or 0.5pct to 4255.7.

Tech giant Apple, Inc. (NASDAQ: AAPL) unveiled its latest generation of iPad yesterday, which is the first tablet that is able to connect to 4G network. However, this feature will not work yet in Australia.