THE NEWS WRAP: LG announces its new G3 smartphone

LG has announced its new G3 smartphone at launch events in London, New York, San Francisco, Seoul, Singapore and Istanbul.

It runs Android 4.4 and has a Snapdragon 801 processor, features a 5.5 inch display, and is available as either a 32GB version with 3GB of ram or a 16GB version with 2GB of ram.

The phone will be available for sale in South Korea on May 28 and begin rolling out worldwide, with details announced locally at the time of availability.

Intuit purchases mobile pay firm Check

Financial services company Intuit is paying $360 million to strengthen its mobile bill pay offerings with the purchase of Check.

Intuit says the purchase boosts its consumer payment capabilities and its ability to offer bill pay across its small business and personal finance products.

The acquisition follows Intuit’s purchase of Sydney-based bookkeeping tool startup Invitco earlier this month.

Twitter agrees $230 million mobile ad deal

Omnicom media group has announced a mobile-focused deal with Twitter worth $230 million over the next two years.

Omnicom’s programmatic ad buying unit Accuen will integrate with Twitter’s ad exchange MoPub.

The deal will lock in ad rates and inventory access for Omnicom agencies and give the company a first look at new ad units and opportunities being developed by the social network.

Overnight

The Dow Jones Industrial Average is up 69.23 to 16,675.50. The Australian Dollar is currently trading at US93 cents.