Facebook updates its privacy policy

Social networking site Facebook released the updated version of its privacy policy and asked its users to provide feedback.

Elliot Schrage, chief of communications at Facebook, wrote in a company's blog that users could send their comments by November 5.

Canada had been pressurizing Facebook to make changes in its privacy policy. Earlier, privacy czar Canada had conducted an inquiry into handling of personal information by Facebook.

Macquarie pockets $479mn profit in six months to September

Macquarie Group Ltd, Australia's leading investment bank, said it pocketed a profit of $479 million during the six months to September, 21 per cent down from the same period last year.

Macquarie has forecast a similar result for the second half of the year, for full year growth of around 10 per cent.

Macquarie's full year profit stood at $871 million during the fiscal 2009.

The group is optimistic on the prospects for the business but wants to remain cautious.

Apple raises objection against Woolworths’ logo; says it ‘closely resembles’ apple symbol

The corporate logo of the Australian supermarket chain Woolworths, filed with Federal Government agency IP Australia in August, has met legal challenge from the tech biggie Apple, which has raised the objection that the logo 'closely resembles' its infamous apple symbol.

Apple has already taken on The Beatles, and GreenNYC environmental campaign, and is presently fighting Foxtel's adult entertainment channel 'Adults Only,' over the use of the iconic apple logo.

Reserve Bank of Australia lifts interest rates

The Reserve Bank of Australia on Tuesday announced an increase of a quarter of a percentage point in its key interest rate to 3.25 per cent.

Australia has become the first advanced country to raise interest rates since recent global financial slump.

Reserve Bank’s governor Glenn Stevens said the move was sensible as the economic statistics indicated that the worst of the recession had passed away.