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Weekly Round Up: This Week in Australian Business

Apple investigates possible nude photo leaks. Private images of celebrities reported to include Kim Kardashian, Rihanna and Selena Gomez have been leaked online. The photos were obtained via a suspected flaw in Apple’s ‘Find My Phone’ software where hackers could use software to guess the required password.

PayPal and Amazon looking at lending to Australian SMEs. PayPal Working Capital has recently announced plans for international expansion to Australia to loan to SME’s. The move will see PayPal resembling a bank but with faster processing times.

The Reserve Bank of Australia leaves rates on hold. The RBA will leave the cash rate at 2.5% for the month of September. Industry analysts predict the rate will stay at this level for the coming months. releases data on Australian wages. The average Aussie worker earns $79,767 per year. The mining and construction industry provides the highest average salaries taking home $120,793.

PM looks at strengthening ties with India. Tony Abbott is considering a free trade agreement with India but only after finalising an agreement with China. This comes after announcing 30 scholarships for Australian students to study in India as part of the New Colombo Plan.

Australia Post – profits down and letter prices set to rise. Australia Post has announced profits are down 35% on last year. Despite the parcel division posting growth the Federal Government-owned agency cited rising costs for letter deliveries. 97% of letters delivered in Australia are either business or government related.