THE NEWS WRAP: Nokia boss defends Windows Phone 8
Nokia chief executive Stephen Elop has defended his company’s controversial decision to adopt Windows Phone 8 over Android or an internally developed alternative.
''The basic decision we made is that it was not the [operating system] that we would differentiate, and that is not where we will win or lose,'' Elop says.
''Where we will win or lose are on 'differentiators' that customers could see; that they could experience [something] that really set our devices apart from everybody else.''
ACCC investigates Visa over limiting currency conversion services
Consumer watchdog the ACCC is investigating whether Visa engaged in anti-competitive practices by misusing its market power in Australia to limit the availability of its dynamic currency conversion service.
Dynamic conversion gives foreign credit card holders the option of converting a purchase into their home currency before paying, a service Visa did not roll-out to Australian ATMs.
''The Australian Competition and Consumer Commission is concerned that Visa sought to stop the growth of competing dynamic currency conversion services and, as a result, limit the choices available to consumers,'' ACCC chairman Rod Sims says.
The Dow Jones Industrial Average was down 0.73% to 13907.54. The Aussie dollar was steady at US104.32 cents.