THE NEWS WRAP: Unions push for super-charged wage rises

Unions are set to defy Workplace Relations and Superannuation Minister Bill Shorten today by refusing to give up wage increases in return for higher superannuation payments.

The national executive of the Australian Council of Trade Unions will recommit to opposing trade-offs for an increase in super contributions from 9% to 12% over a decade.

The Gillard government introduced the policy as part of the Minerals Resource Rent Tax and regards it as one of its top priorities.

ACCC takes on Apple

The competition watchdog is planning to take Apple to court for allegedly making misleading statements about the wireless internet capability of the third generation iPad.

The Australian Competition and Consumer Commission has accused Apple of breaking the consumer law by promoting the new iPad as being able to connect to high-speed 4G mobile networks using a sim card.

The ACCC says the new iPad does not work on any Australian 4G network. It is seeking an urgent court order to force Apple to correct its advertising and make refunds to customers.

Shops to open on Boxing Day

Retailers have welcomed the NSW Government’s decision to lift trading restrictions on the retail industry.

The government has announced changes to retail trading laws so shops previously unable to open their doors on Boxing Day can share in the economic benefits of the renowned shopping day.

The Australian National Retailers Association says the changes will allow retailers to meet the needs of local shoppers.

Overnight

The Australian dollar is more than half a US cent lower after the Chinese industrial sector suffered its first drop in profits in three years.

At 7am, the Australian dollar was trading at 104.69 US cents, down from 105.30 cents yesterday afternoon.