THE NEWS WRAP: Apple set to begin producing iPhone 6 screens next month

Apple is set to begin mass production on screens next month for its next flagship smartphone, the iPhone 6, according to reports.

According to Reuters, the new device will come in two screen sizes (4.7 inches and 5.5 inches), with the larger screens set to come into production later due to manufacturing issues.

The new devices are also set to include in-cell touch panel technology, where the touch panel is built into the screen, allowing for thinner screens than existing models.

Possible BHP Billiton demerger raises questions about the original merger

Mining giant BHP Billiton is reportedly looking at spinning off its non-core assets, acquired by BHP through its 2001 merger with Billiton, with the news raising questions about the original merger deal.

“We believe that a portfolio focused on our major iron ore, copper, coal and petroleum assets would retain the benefits of diversification, generate stronger growth in free cash flow and a superior return on investment.”

“It would rightfully call into question the validity of it, and some of the kudos people got for it at the time,” Pengana Capital resources fund manager Tim Schroeders told Fairfax.

“It would also put a big spotlight on the terms that were struck at the time, which in hindsight would appear to have clearly disadvantaged BHP shareholders.”

Federal government set to introduce bankruptcy fee

The federal government is set to introduce a new fee for people wanting to file for bankruptcy.

In a move set to net the government $25 million over the next four years, it will cost $120 to file for bankruptcy protection, while travelling overseas while bankrupt will incur a $150 charge.

The move has been criticised by consumer law groups.

Overnight

The Dow Jones Industrial Average is up to 16532.6. The Aussie dollar is down to US92.49 cents.