BUSINESS

Woolworths has decommissioned its in-house technology and shifted to Microsoft Azure as it prepared for Amazon's arrival.

Apple Inc.'s current market value costs US$699 billion (AU$909 billion), placing the company on top with a closing stock at US$133.29 (AU$173.46) per share.

Woolworths and Adore Beauty's partnership has ended after the make-up and hair products online retailer decided to be an independent company.

Iron ore prices witnessed a surprising upsurge as they crossed US$90 (AU$117.2) a tonne. This is the first time in more than two years the price has gone beyond the anticipated mark. The last time the same feat was achieved was in August 2014.

Bankwest has announced that it will no longer include the negative gearing benefits in assessing the loan eligibility of new borrowers.

Domino's Pizza has investigated the report from Fairfax Media about visa sponsorship scam.

If latest reports are to be believed, Tesla will start building pre-production versions of Model 3 in a few weeks. It will launch the US$35,000 (AU$46,000 approx) mass market sedan in late 2017 and begin attending to the 400,000 pre-orders through 2018. Some auto experts believe that Tesla is on track to launch the Model 3 ahead of schedule.

JB Hi-Fi has recorded a statutory net profit of $110.4 million in its six-month period report.

Woolworths has been taking a different direction than its competitor Coles through the number of self-service checkouts it produced.

Coles has decided to restrict the number of items at self-serve checkouts to 12 items only.

Financial services company AMP suffered its first full year loss since 2003. The loss comes as the company goes through crisis in its life insurance and wealth protection divisions.

Herringbone and Rhodes & Beckett are now following Marcs and David Lawrence to the list of fashion retailers placed into voluntary administration.

The Tesla Model 3 won’t have the 100kWh battery pack like the Model S and Model X. Fans, hoping to get an epic range out of the Model 3, may be disappointed by the news. The information was tweeted by CEO Elon Musk on Wednesday. Musk also revealed that he had no plans to increase the 100kWh battery pack for the Model S and X.

HashChing has revealed that borrowers from the suburbs of major capital cities were paying almost double than the capital cities' average.

The ASX 200 index slumped below the 5600 support level. The slip, which occurred for the first time this year, was largely attributed to the losses in Macquarie. It also comes ahead of RBA's first rates decision of 2017.

Allphones closed its 18 stores on Monday after it has gone into administration.

Alibaba founder Jack Ma said during the opening of the first Australian and New Zealand branch of his company on Saturday that Australia is a gold mine.

Retail sales for December witnessed a surprising decline, as noted by the data released by the Australian Bureau of Statistics. The decline for the sales in December accounted for 0.1 percent, which was in contradiction to the market expectations of a 0.3 percent rise.

National Australia Bank suffered a fall of 1 percent in its cash earnings, as reported in its first quarter unaudited cash profit. This comes on the heels of a decline in bad and doubtful debts associated with the commodities sector.

Tesla CEO Elon Musk has recently confirmed via a tweet that the Tesla Model 3 branding will have the numeric “3” and not three horizontal lines depicting the Model E, a name originally thought of for the Model 3.

Marcs and David Lawrence have been placed in voluntary administration according to administrators Geoffrey Reidy and Andrew Barnden.

Telecom giant Telstra has yet again achieved the top position in the list of Australia’s most valuable brands. The finding, which comes from an annual global survey, reveals Telstra stands at the top with an estimate brand value of US$14.3 billion (AU$18.8 billion).

Telstra along with partners Netgear, Qualcomm and Ericsson previewed the future of mobile connectivity in Australia on Monday.

Toyota Australia issued a statement on Monday confirming that it will close its Altona plant in Melbourne. This will result in 2,600 employees losing their jobs.

German supermarket chain Aldi is invested heavily in expanding its footprint in Western Australia and South Australia. It plans to open 70 new stores in WA and 50 new stores in SA with an investment of over $700 million.

Qantas has launched a safety video for 2017 featuring the best tourist spots in Australia.

US stocks sustained a heavy blow overnight on Monday as a result of Donald Trump’s controversial travel ban. The Australian market also received its share of downfall. As of 7AM, the share price futures index fell 12 points at 5,5591.

American ride-hailing service Uber’s ill-timed tweet resulted in a disaster for the company. The hashtag #DeleteUber trended on Twitter and customers moved to Lyft,who pledged US$1 million (AU$1.32 million) to American Civil Liberties Union in support of those affected by Trump travel ban.

An aged pensioner's pension has been cut from $316 to $99 a fortnight after helping his kids with a deposit to buy their first home.