THE NEWS WRAP: Twitter sues US Government

Twitter is suing the US government, alleging that the Justice Department’s restrictions on what the company can say about government national security requests for data violate the company’s First Amendment rights, The Washington Post reports.

Earlier this year five other technology companies, including Google and Microsoft, reached a settlement with the government on the permissible scope of disclosure.

Twitter vice president Ben Lee says it is the company’s belief that it is entitled under the First Amendment to respond to its users’ concerns and to the statements of US government officials by providing information about the scope of government surveillance.

“We should be free to do this in a meaningful way, rather than in broad inexact ranges,” he says.

Blockchain raises $30.5 million

Bitcoin wallet provider and software developer Blockchain is expected to announce it has closed a $US30.5 million ($AU34.6 million) fund-raising round, led by Lightspeed Venture Partners and Wicklow Capital, The New York Times reports.

The investment, raised from Blockchain’s first round of outside financing, is one of the biggest in the digital currency industry to date.

Microsoft to hold cloud media event

On October 20, Microsoft will be holding a “What’s ahead for Microsoft’s Cloud” event in San Francisco.

Microsoft chief executive Satya Nadella and executive vice president of Microsoft’s Cloud and Enterprise group Scott Guthrie will be both presiding during the one-hour event for press and analysts.

Overnight

The Dow Jones Industrial Average is down 272.52 to 16,719.39. The Australian Dollar is currently trading at US88 cents.