Kiwi start-up Glassjar launches payments app in the US

Glassjar, the kiwi software start-up whose app provides people an easy way of sharing bills, has launched in the United States. The former Christchurch company is now based in Silicon Valley in the US start-up accelerator Y Combinator, which provides US$120,000 in seed funding to every start-up it invests in. It's the first kiwi company to have been accepted into the accelerator which has helped…

  • ABC boss warns against local quotas AAP - 22 minutes ago

    ABC boss Mark Scott says plans to make the broadcaster produce more local content would force cuts elsewhere. Independent Senator Nick Xenophon has proposed an amendment to the ABC charter which would enforce local content production quotas across the country. The ABC has axed a number of local programs and will cut 400 staff after the government reduced its budget by $254 million over the next five years. Mr Scott says there is a need to produce more programs externally because the broadcaster can't access funding grants for in-house productions.

  • Q&A on Samsung's new mobile pay AAP - 32 minutes ago

    Last northern autumn, Apple launched Apple Pay, bringing mobile-payment technology to the iPhone. Samsung now wants to get that on Android phones - at least the ones it makes. Samsung's payment service won't come until this northern summer, and will launch only in the US and South Korea at first. Here's what's known about Samsung Pay and how it compares with Apple Pay and Google's own efforts for Android.

  • $A below 78 US cents as greenback rises AAP - 57 minutes ago

    The Australian dollar is below 78 US cents after the European Central Bank's economic stimulus measures boosted the greenback. At 1200 AEDT on Friday, the local currency was trading at 77.84 US cents, down from 78.16 cents on Thursday. The ECB's confirmation that it would begin buying eurozone government bonds from Monday, as part of a one trillion euro stimulus package, strengthened the US dollar, Commonwealth Bank currency strategist Joseph Capurso said.

  • Shares fall as iron ore price tumbles AAP - 1 hour 7 minutes ago

    Another fall in the price of Australia's largest export is pulling the share market lower. The price of iron ore in China has dropped below $US60 a tonne, which has delivered a blow to shares in in local miners, CommSec market analyst Tom Piotrowski said. The weaker price only compounds a downward revision of China's economic growth forecasts earlier this week, Mr Piotrowski said. "They're aiming to address pollution levels (in China) as well, so they're shutting down some mills that aren't terribly efficient," he said.

  • Stocks to watch at noon on Friday AAP - 1 hour 22 minutes ago

    Stocks to watch on the Australian stock exchange at noon on Friday: AGO - ATLAS IRON - down 1.5 cents, or 8.6 per cent, at 16 cents ARI - ARRIUM - down 0.5 cents, or 2.4 per cent, at 20 cents BCI - BC ...

  • Fliway Group seeks up to $44.5 million in first IPO … BusinessDesk - 1 hour 30 minutes ago

    Fliway Group, the independent transport and logistics provider, is seeking to raise between $27.3million and $44.5 million through the first initial public offering on the NZX this year. The 18-year-old company is owned by Duncan Hawkesby, the son of former broadcaster John Hawkesby, and his wife Gretchen, who is the daughter of New Zealand's richest man, Graeme Hart. The pair will retain between 30 to 50 percent of the company following the IPO.

  • Old economy sectors are now tech, too AAP - 1 hour 32 minutes ago

    New technologies ranging from cloud computing to data analytics are transforming virtually all industries, including old economy sectors like manufacturing, the report by the National Academy of Engineering says. Manufacturing can no longer be considered separate from the system of technological innovation used in new economy sectors, said the report by the NAE, part of the National Academy of Sciences, a research organisation created by Congress.

  • Warehouse boosts online sales Newstalk ZB - 2 hours 8 minutes ago

    The Warehouse Group's profit is down - but online sales are up.

  • New Zealand keeps top credit rating Newstalk ZB - 2 hours 17 minutes ago

    International credit rating agency Moody's has reaffirmed New Zealand's AAA credit rating, with a stable outlook.

  • Rules tweaked to fix staff shortages Newstalk ZB - 2 hours 17 minutes ago

    Immigration rules are being tweaked to deal with staff and skill shortages in Queenstown.

  • Shares flat as banks up, materials down AAP - 2 hours 27 minutes ago

    The share market has opened flat as strength in high-yield bank stocks is balanced out by weak energy and mining sectors. IG market strategist Evan Lucas says the market is repositioning itself into high-yield stocks in expectation of an upcoming rate cut from the Reserve Bank, with the big banks enjoying a rise. Commonwealth Bank was up 31 cents to $91.43, Westpac had gained 11 cents to $37.94, ANZ was 7 cents higher at $35.57, while National Bank was down seven cents to $38.03. On Tuesday, the Reserve Bank left the official interest rate at 2.25 per cent, but observers believe the RBA has a couple more cuts in mind for 2015.

  • Killing cancer from the inside AAP - 2 hours 36 minutes ago

    Australian biotech Phylogica is focusing on killing cancer "from the inside", which it says is a more effective way of fighting the disease. The Perth-based company's key objective is to get therapeutic drugs inside cells, where most drug targets are found. "We're about trying to take this new generation of smart drugs that they (big pharmaceutical firms) have been developing and deliver them much more efficiently inside the cells so they can access their targets," Phylogica chief executive Richard Hopkins says. For example, Phylogica is targeting MYC, a protein that turns on genes that cause cancer and which is present in more than 50 per cent of all cancers.

  • Hockey seeks discussion on tax, super AAP - 2 hours 57 minutes ago
    Hockey seeks discussion on tax, super

    Treasurer Joe Hockey says tax, superannuation and workplace changes are more important than immigration when it comes to turning the budget and economy around. Mr Hockey, who is in Brisbane on Friday, is engaged in a media blitz a day after releasing the intergenerational report. The treasurer says there needs to be a conversation about laws, including superannuation, to help keep older people in work. "Should superannuation laws be changed so they can accommodate our needs as we go in and out of the workforce, and change careers?" Mr Hockey told the Seven Network.

  • MIDDAY UPDATE: Warehouse shares fall after trimming … BusinessDesk - 3 hours ago

    Shares of Warehouse Group dropped 4.8 percent in morning trading after the country’s biggest listed retailer cut its forecast annual profit and return to shareholders.

  • Aust shares open flat AAP - 3 hours ago

    The Australian share market has opened flat. At 1010 AEDT on Friday, the benchmark S&P/ASX200 index was down 5.2 points, or 0.09 per cent, at 5,899, while the broader All Ordinaries index was down 4.4 ...

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