THE NEWS WRAP: Cooler than expected Chinese economy a worry for Australian business

The Chinese economy appears to be slowing beyond expectations, according to new data, raising concerns for the many Australian businesses that rely on the regional powerhouse.

Chinese imports fell by 2.6% in August, well down on the 3.5% growth forecast by economists. Meanwhile, exports grew by 2.7% – the lowest rate in three years.

Google Shopping fees raise retailer ire

Retailers have protested Google’s decision to charge businesses for space on its online shopping page, claiming that the move is yet another hurdle to be faced by bricks-and-mortar stores.

According to The Australian Financial Review, Google has said that retailers must pay for its Google Shopping service, a move that Russell Zimmerman, executive director of the Australian Retailers Association, said was an “impediment” to traditional shop owners.

Cloud computing shunned by SMEs: Report

The vast majority of small businesses do not utilise cloud computing, although the ones that do benefit from the technology, according to new research.

A poll of more than 1,000 SMEs by MYOB found that 79% do not use cloud technology, although the ones that did were more likely to have seen a revenue rise in the past year.

Overnight

The Dow Jones Industrial Average was down 52.35 points, or 0.39 %, to 13,254.29. The Australian dollar was down to US103.36 cents.