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THE NEWS WRAP: Abbott promises free trade with China within 12 months
Prime Minister Tony Abbott has vowed to emulate New Zealand by signing a free trade agreement with China within 12 months, following a meeting with Chinese President Xi Jinping at the APEC summit in Bali.
“Our intention is to move as quickly as we can. I would be disappointed if we couldn't conclude a significant free-trade agreement with China in 12 months,” Abbott says.
“Let’s face it, the Kiwis, have had a series of agreements, including one with China, which have been very good for their economy.
"They've managed to go from start to finish much more quickly than we've been able to manage over the last few years under the former government and I think we can do a lot better than that now.”
Google urges political leaders to focus on NBN benefits
Google Australia and New Zealand managing director Maile Carnegie has urged Australian political leaders to focus on the disruptive economic benefits the national broadband network is set to provide, rather than the costs of setting it up.
“I look at the energy around the NBN. At the moment, it's focused around cost. I'd love to talk about the benefits and how we can change the rhetoric, from cost to disruption,” Carnegie says.
“It feels like we could be on the cusp of renewal but I'm frustrated that we're not recognising the benefits.”
Telstra reveals strong demand for 4G services
Telstra has released new figures showing it has added 3.4 million devices to its 4G network since it launched two years ago.
The figures show a 23% increase in demand month to month, with around one-fifth of its 15 million devices now on 4G.
It is important to note that figure is the total number of devices, meaning a single customer with both a 4G tablet and a 4G smartphone would be counted as having two devices.
“Since launch, we have activated more than 3.2 million 4G devices on our 4G network. This includes more than 360,000 4G smartphones since June 30 this year, or more than 25,000 per week,” says Telstra Mobile and Wireless group executive director Warwick Bray.
The Dow Jones Industrial Average is down 0.9% to 14936.24. The Aussie dollar is flat at US 94.32 cents.