THE NEWS WRAP: Samsung debuts Galaxy S5

Samsung has unveiled its latest flagship smartphone, the Galaxy S5, at the Mobile World Congress in Barcelona, with key upgrades to the camera and processor, as well as the inclusion of a fingerprint sensor.

The new device includes a 5.1-megapixel 1080p display, a 16-megapixel camera, 2800 mAh removable battery and is powered by a 2.5Ghz Qualcomm Snapdragon 800 processor.

The new smartphone is also dust-proof and waterproof, running the latest version of Google’s Android operating system, 4.4.2 KitKat.

WhatsApp adds voice calls

WhatsApp, the mobile text messaging service purchased by Facebook last week for $US16 billion, has announced it will add voice-calling capabilities during the second quarter of this year.

“We are driven by the mission that people should be able to stay in touch anywhere and affordably,” WhatsApp chief executive Jan Koum says.

Koum says the move is part of a bid to increase the service’s popularity from 450 million to 1 billion users.

BCA calls for spending cuts and tax reform

The Business Council of Australia has called for budget cuts, a strengthening of the tax base and industrial relations reforms in its submission on the federal budget.

BCA chief executive Jennifer Westacott told the ABC the government had to put in place a budget framework that allowed for tough decisions to be made beyond just one budget cycle.

“It has to set out the structural reform that will involve some tough choices that government has to go down so that we can get our fiscal position under control.

“We ought to be willing to have a conversation about the eligibility age for the age pension, we need to look at the whole issue of welfare and say can we sustain welfare being diluted across many people and many income brackets versus targeting to those in most need.”

Overnight

The Dow Jones Industrial Average is up to 16236.6. The US dollar is up to US90.36 cents.