THE NEWS WRAP: Google unveils Google Wallet

A coalition of unions, investors and renewable energy groups have called upon the Government to create a new clean energy technology fund in conjunction with a carbon price.

The Australian Manufacturing Workers Union, alongside bodies including the Clean Energy Council, has called for $6 billion to be invested over the next six years to fund clean energy technology and energy efficiency schemes.

The union said that the fund was needed to partner with private investors, provide grants and issue loan guarantees to clean energy businesses.

Government set for pokies showdown

The Federal Government is set for a showdown meeting today with state and territory ministers over its proposals to introduce mandatory limits to poker machines.

Labor is pushing for strict betting limits for pokies in order to tackle problem gambling, under a deal struck with independent MP Andrew Wilkie. However, some states prefer a voluntary system.

If a deal can’t be reached, the Federal Government may look to override the states, potentially triggering a legal battle over the issue.

Google unveils Google Wallet

Google has unveiled its new mobile phone payment system that allows shoppers to purchase goods by waving their phones at the checkout counter.

Google Wallet is a partnership between Google, Mastercard, Citigroup, First Data and Sprint. It will be made available to people this year in New York and San Francisco ahead of a wider launch.

It’s expected that other companies, including Visa, will also enter the phone payment area.

Overnight

The Dow Jones industrial average rose by 15.51 points to 12,410.17. The Australian dollar was up to 106.38 US cents.