THE NEWS WRAP: Federal Police bust biggest credit card data theft in Australian history

Police say that they have uncovered the largest credit card data theft in Australian history, perpetrated by an international gang of criminals.

More than 100 small retailers were targeted by hackers in Romania, according to the Australian Federal Police, buying goods worth more than $30 million.

Government mulls super tax shake-up

The Federal Government is looking at reviewing the superannuation tax breaks enjoyed by wealthy individuals, according to reports.

According to The Australian, Treasury secretary Martin Parkinson said: “The question remains, however, whether the current framework for our superannuation system will be sustainable into the future.”

“This scrutiny will be even more important to the extent that existing concessions are seen to favour some at the expense of the majority.”

Apple ‘fires’ map overlord

The Apple executive who oversaw its botched foray into mapping has reportedly been fired.

Rich Williamson has been shown the door by Apple, according to a report on technology site AllThingsD.

The sacking follows Apple’s widely-criticised decision to dump Google Maps from its operating system and replace it with its own maps service, which contained numerous glaring errors.

Overnight

The Dow Jones Industrial Average was up 0.83% to 12,985.03. The Australian dollar was down to US104.48 cents.