THE NEWS WRAP: Uber in $10 billion funding round talks

Uber is reportedly in talks to raise a new funding round which could be worth $10 billion.

That would almost triple the company’s value from $3.5 billion last year.

If Uber was to raise more than $10 billion it would join an exclusive group of companies with valuations of $10 billion or more including Airbnb and Dropbox.

US set for internet fast lane

The US Federal Communications Commission voted in favour of a preliminary proposal that would create internet ‘fast lanes’.

The proposal has been criticised by those concerned that rich companies paying for access to this fast lane will disadvantage startups with limited financial resources.

The FCC is calling for the public’s opinion as to whether or not the commission should change the proposal before enacting the final rules at the end of the year.

Apple allowing promo codes for in-app purchases?

Promo codes for apps have long been available, but were previously limited to initial app downloads.

Now Apple appears to be flirting with the idea of allowing promo codes for in-app purchases, a change that would make it easier for developers to give early app testers, reviewers and other users access to the full content within premium apps.

Overnight

The Dow Jones Industrial Average is down 167.16 to 16,446.81. The Australian dollar is currently trading at US94 cents.