THE NEWS WRAP: Record iPhone sales help propel Apple to a 95% leap in second quarter profit

Record iPhone sales helped propel Apple to a 95% leap in second quarter profit, with shares rising 2.8% to $US351.80 following the announcement.

The tech giant said that its second-quarter profit of $US6 billion was aided by the increasing popularity of the iPhone, which sold 18.7 million units during the period – double the amount than the corresponding quarter last year. Mac computers and iPads also sold strongly.

Qantas strikes likely

Strike action by Qantas staff appears increasingly likely following meetings between company executives and union leaders, according to reports.

Qantas CEO Alan Joyce reportedly called for the unions to accept wage restraint and flexible employment conditions, while the Transport Workers Union called on the ACCC to investigate the airline for alleged price gouging of consumers.

Google in clean energy drive

Google has announced plans to invest in electric vehicle technology, in the search giant’s latest foray into clean energy technology.

The company said that it will work with the Energy Department to help drivers find charging stations for electric cars around the country. The move follows a $100 million investment by Google into the world’s largest wind farm.

Overnight

The Australian dollar hit a fresh post-floatation record last night, hitting a top of 107.17 US cents. Meanwhile, the Dow Industrial Average hit a three-year high, jumping 186.79 points cent to 12,453.54.