THE NEWS WRAP: Google Glass goes back to the drawing board

Google is ending sales of its Google Glass eyewear, according to the BBC.

The tech giant says it’s still committed to launching Google Glass as a consumer product, but will stop producing it in its present form.

It’s now focusing on “future versions of Glass” with work carried out by a different division of the company. In addition, the team working on Glass will move out of the Google X research division and become a separate undertaking under its manager, Ivy Ross.

Drone startup Raises $3 million

Skydio, a US startup working on technology that is working to help drones be aware of their surroundings, has raised $3 million in funding from venture capital firms Andreessen Horowitz and Accel Partners, The Verge reports.

The startup has set out to create a system to power self-navigating drones using only the commodity chips and sensors you would find in your average smartphone.

Most drones stabilize themselves using GPS but are helpless if they lose that. Skydio is hoping to give drones a robust sense-and-avoid ability, using only ordinary cameras, rather than lasers, sonar, and depth of field cameras.

MySpace still getting significant traffic

Fifty million people still visit MySpace per month, The Wall Street Journal reports.

Its users generated over 300 million video views in the month of November, putting it in 16^th place on comScore’s Video Metrix ranking.

Overnight

The Dow Jones Industrial Average is down 106.38 to 17,320.71. The Australian dollar is currently trading at US82 cents.

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