Mobile Tyre Shop has secured $5m from China’s Sailun Group as it accelerates its e-commerce offering and pounces on demand from cheap Chinese electric vehicles rolling into Australia.

A Sydney-based tech start-up that’s turning rubbish into resources, including an alternative for coking coal, says it’s profitable as it searches for investors to expand its operations after a capital raising fell through.

Xero hopes to crack the US market by striking its biggest ever deal in acquiring New York-based accounting platform Melio Payments for $US2.5bn ($3.9bn) in a move chief executive Sukhinder Singh Cassidy labelled a “step change” for the New Zealand firm.