IBM to invest $3 billion data use

IBM to invest $3 billion data use

IBM estimates that 90 per cent of all data generated by mobile and "smart" devices is never analysed. The Armonk, New York, company hopes to change this by teaming up with companies like Twitter and the Weather Co, the owner of the Weather Channel, and developing cloud-based data services and tools for app developers. IBM is training more than 2,000 consultants, researchers and developers to hel…

  • $A consolidates after strong data AAP - 10 hours ago

    The Australian dollar is lower despite a brief rally on positive Chinese manufacturing figures and local housing data. The Australian dollar peaked at 76.64 US cents after the data was released, but was unable to hold onto the gains. FXCM chief currency strategist John Kicklighter said the Aussie dollar's performance was still an improvement on falls recorded in recent days amid increased speculation of a Reserve Bank interest rate cut in April. "After its painful start to the week, the Australian dollar seems to be finally finding some footing," he said.

  • Local, China data gives $A a surge AAP - 10 hours ago

    The Australian dollar is lower despite a brief rally on very positive Chinese manufacturing figures and local housing data. At 1700 AEDT on Wednesday, the local unit was trading at 76.28 US cents, down ...

  • More will be happy with budget: Frydenberg AAP - 10 hours ago

    Assistant Treasurer Josh Frydenberg anticipates the May 12 budget will be more warmly received than the Abbott government's first effort last year. Mr Frydenberg, who attended a budget meeting on Wednesday, said inevitably there will be people who are disappointed, whoever brings down a budget. "(But) certainly this year's budget will be more warmly received in some quarters than last year's budget," he told ABC radio.

  • Ship builder Austal cuts 300 jobs in WA AAP - 10 hours ago
    Ship builder Austal cuts 300 jobs in WA

    West Australian ship builder Austal is shedding 300 jobs as it completes the building of Australian Customs and Border Protection boats and Navy vessels for Oman. Austal confirmed it has made 40 non-permanent employees redundant and will cut another 260 staff at its Henderson ship yard south of Perth by early 2016. The company is beginning to cut back positions as the federal government contract to build eight Cape Class Patrol Boats comes to an end, and it finishes building two High Speed Support Vessels for Oman later in 2015. Austal Australia president Graham Backhouse said the cuts were necessary as the Cape Class contract entered its final phase.

  • Aust bonds weaken after strong data AAP - 11 hours ago

    Australian bond futures prices have fallen as better economic data eases expectations of an April interest rate cut by the Reserve Bank. Figures from the CoreLogic RP Data housing report out on Wednesday ...

  • Boost expected for small businesses Newstalk ZB - 11 hours ago

    Small business growth is expected, if confidence remains at near record highs.

  • Market in the red on resources pain AAP - 11 hours ago

    The Australian share market has closed weaker, pulled back by resources stocks reeling from fresh falls in commodity prices. CommSec market analyst Tom Piotrowski said weakness in the local market was ...

  • NSW and Vic economies lead the nation AAP - 11 hours ago

    Low interest rates and booming property markets have lifted the economic strength of the country's two largest states. NSW and Victoria outperformed other states in 2014, as Western Australia and Queensland ...

  • FMG, BHP to flood market with more ore AAP - 11 hours ago
    FMG, BHP to flood market with more ore

    BHP Billiton and Fortescue Metals have applied for permits to add about 50 million iron ore tonnes to an already over-supplied global market as prices fell to new record lows. Iron ore giants including BHP and Rio Tinto are being accused of increasingly angering shareholders and deliberately foregoing earnings by flooding the market. Spot iron ore prices to the port of Tianjin in China fell to $US51 a tonne, which could be below Fortescue's breakeven price and is a record low since prices started being tracked in 2008. It also emerged that BHP and Rio had applied to Western Australia's Environmental Protection Authority to boost Pilbara output - by building a new mine in BHP's case and expanding Christmas Creek in the latter's.

  • Big retailers fear new market power check AAP - 11 hours ago

    Woolworths, Coles and a lobby group representing major retailers say the introduction of a so-called "effects test" to assess whether big businesses are abusing their market power could damage innovation and competition. The call for the test was among a raft of recommendations in the national competition policy review, released on Tuesday. If it goes ahead, major retailers would be banned from using their power in ways that are designed to or are likely to substantially lessen competition.

  • Early warning provider joins share market AAP - 11 hours ago

    Warnings of an impending storm or natural disaster, workplace accident or health issue delivered straight to your smartwatch - that's the vision of a growing new tech company. Aeeris, the owner of The Early Warning Network currently used by 100 businesses and governments, has listed on the Australian share market as it looks to develop new products and expand internationally. Chief executive Kerry Plowright said rapidly improving technology provides Aeeris with many opportunities. Health data could one day be added to the mix to monitor an individual's wellbeing, Mr Plowright said.

  • Commodity prices fall by 1.7 per cent AAP - 12 hours ago

    Commodity prices fell by 1.7 per cent in foreign currency terms in March, figures from the Reserve Bank of Australia show. The fall followed a 3.7 per cent drop in February and brought the annual rate of decline in Australia's export commodity prices to 19.7 per cent.

  • Stocks to watch at close on Wednesday AAP - 12 hours ago

    Stocks to watch on the Australian stock exchange at close on Wednesday: AER - AEERIS - down two cents, or eight per cent, at 22 cents Aeeris, the owner of The Early Warning Network currently used by 100 ...

  • Tech firm linked with Michael Jackson AAP - 12 hours ago

    An Australian technology investment company has bought a stake in a new American social media app linked with Michael Jackson's estate. Yonder and Beyond, which listed locally in February, is buying 10 per cent of PlayMeet, which will connect users who share similar musical tastes, whether it's Kylie Minogue, Elvis Presley or One Direction. "Tinder for music is the best way to explain it," chief executive Shashi Fernando told AAP, comparing it to a popular dating app. Renowned music producer John McClain, an executor of Michael Jackson's estate who has previously worked with Janet Jackson and Justin Timberlake, helped create PlayMeet.

  • Aust shares close lower AAP - 12 hours ago

    The Australian share market has closed lower, with the materials and energy sectors again reeling from commodity price falls. At the close on Wednesday, the benchmark S&P/ASX200 index was 30.7 points, ...

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