+------------------------------------------------------------------------------+
Microsoft Said to Agree to Buy Nokia Phone Business, BGR Reports
2011-06-01 15:13:13.868 GMT
By Colin Keatinge
June 1 (Bloomberg) -- Microsoft Corp. has agreed a deal to
buy Nokia Oyj's mobile-phone business for $19 billion,
BoyGeniusReport said on its website, citing Eldar Murtazin.
Nokia spokesman Mark Durrant today declined to comment on
the report when contacted by Bloomberg News.
The Finnish company said on May 16 that speculation by
Murtazin it may sell its mobile-phones unit to Microsoft was
inaccurate.
With assistance from Diana Ben-Aaron in Helsinki and Simon Thiel
in London. Editor: Peter Branton
Story Link:NSN LM49CL6VOT1C<GO>
Link to Company News:MSFT US <Equity> CN <GO>
Link to Company News:NOK1V FH <Equity> CN <GO>
For Related News and Information:
Top Stories:TOP<GO>
To contact the editor responsible for this story:
Colin Keatinge at +44-20-7673-2494 or
ckeatinge@bloomberg.net
Wednesday, June 1, 2011
(WPT) Dollar Slides as Weak Jobs Report Bolsters Slowdown
+------------------------------------------------------------------------------+
Dollar Slides as Weak Jobs Report Bolsters Slowdown Worry; Investors Wait for Greek Aid Deal
2011-06-01 14:28:30.505 GMT
Dollar Slides as Weak Jobs Report Bolsters Slowdown Worry;
Investors Wait for Greek Aid Deal
By Associated Press
June 1 (Washington Post) -- NEW YORK — The dollar is falling
against the euro and yen after a weak U.S. jobs report increased
worries about a slowdown in economic growth.
A private-sector U.S. jobs report shows businesses adding
far fewer jobs in May than economists had expected.
Analysts say hopes of a Greek aid deal coming soon that
would stave off default are also bolstering the euro. Credit
Suisse currency strategists are recommending that investors buy
euros again. The euro had fallen to a two-month low below $1.40
last week because of fears about a Greek debt default.
In morning trading Wednesday in New York, the euro rose to
$1.4413 from $1.4378 late Tuesday, while the dollar fell to 80.71
Japanese yen from 81.50 yen. The British pound slipped to $1.6393
from $1.6448, however.
Copyright 2011 The Associated Press. All rights reserved.
This material may not be published, broadcast, rewritten or
redistributed.
-0- Jun/01/2011 14:28 GMT
Dollar Slides as Weak Jobs Report Bolsters Slowdown Worry; Investors Wait for Greek Aid Deal
2011-06-01 14:28:30.505 GMT
Dollar Slides as Weak Jobs Report Bolsters Slowdown Worry;
Investors Wait for Greek Aid Deal
By Associated Press
June 1 (Washington Post) -- NEW YORK — The dollar is falling
against the euro and yen after a weak U.S. jobs report increased
worries about a slowdown in economic growth.
A private-sector U.S. jobs report shows businesses adding
far fewer jobs in May than economists had expected.
Analysts say hopes of a Greek aid deal coming soon that
would stave off default are also bolstering the euro. Credit
Suisse currency strategists are recommending that investors buy
euros again. The euro had fallen to a two-month low below $1.40
last week because of fears about a Greek debt default.
In morning trading Wednesday in New York, the euro rose to
$1.4413 from $1.4378 late Tuesday, while the dollar fell to 80.71
Japanese yen from 81.50 yen. The British pound slipped to $1.6393
from $1.6448, however.
Copyright 2011 The Associated Press. All rights reserved.
This material may not be published, broadcast, rewritten or
redistributed.
-0- Jun/01/2011 14:28 GMT
(BLG) Boy Genius: Microsoft strikes deal to acquire Nokia’s phone business, insider claims
+------------------------------------------------------------------------------+
Boy Genius: Microsoft strikes deal to acquire Nokia's phone business, insider claims
2011-06-01 14:53:09.392 GMT
http://www.bgr.com/2011/06/01/microsoft-strikes-deal-to-acquire-nokias-phone-business-insider-claims/
PageExcerpt:
According to industry insider Eldar Murtazin, Microsoft has struck a deal to purchase Nokia’s mobile phone business for $19 billion. Just two weeks ago, Murtazin — who has a proven track record — suggested that Microsoft and Nokia were ...
Boy Genius: Microsoft strikes deal to acquire Nokia's phone business, insider claims
2011-06-01 14:53:09.392 GMT
http://www.bgr.com/2011/06/01/microsoft-strikes-deal-to-acquire-nokias-phone-business-insider-claims/
PageExcerpt:
According to industry insider Eldar Murtazin, Microsoft has struck a deal to purchase Nokia’s mobile phone business for $19 billion. Just two weeks ago, Murtazin — who has a proven track record — suggested that Microsoft and Nokia were ...
(BN) Goldman Sachs ‘Too Big’ to Face Criminal Prosecution, Hintz Says
+------------------------------------------------------------------------------+
Goldman Sachs 'Too Big' to Face Criminal Prosecution, Hintz Says
2011-06-01 14:34:21.217 GMT
By Christine Harper
June 1 (Bloomberg) -- Goldman Sachs Group Inc. won't face
criminal prosecution related to sales of mortgage-linked
securities because such a move could threaten the U.S. financial
system, according to Brad Hintz, an analyst at Sanford C.
Bernstein & Co.
The U.S. Department of Justice, which is reviewing a Senate
subcommittee report that alleged Goldman Sachs misled clients
before the financial crisis, will avoid jeopardizing the fifth-
largest U.S. bank by assets because it's viewed as "too big to
fail," Hintz wrote in note to clients today.
"If an alleged violation is identified during a Goldman
investigation, we expect a reasoned response from the Justice
Department," Hintz wrote. "In a worst case environment, we
would expect a 'too big to fail' bank such as Goldman to be
offered a deferred-prosecution agreement, pay a significant fine
and submit to a federal monitor in lieu of a criminal charge."
Stephen Cohen, a spokesman for New York-based Goldman
Sachs, declined to comment on Hintz's note. Laura Sweeney, a
spokeswoman for the Justice Department in Washington, didn't
immediately reply to requests for comment.
Under a deferred-prosecution agreement, the U.S. files
charges against a company and agrees to dismiss them after a
certain period, typically if the company pays a fine or penalty
and improves its governance or other practices. In October, the
Justice Department dismissed a conspiracy case against UBS AG,
Switzerland's biggest bank, after the expiration of an 18-month
deferred prosecution agreement with the Zurich-based bank.
Litigation Risk 'Manageable'
Hintz, ranked the No. 1 analyst covering brokerage firms in
a survey by Institutional Investor last year, said that the
Justice Department's approach to criminal charges against
companies has changed since accounting firm Arthur Andersen
LLP's business collapsed following a felony charge.
A 2003 Justice Department policy document "stated that
prosecutors can reward cooperation by offering a negotiated
settlement to a targeted company that can range from immunity
from criminal indictment to a deferred prosecution agreement,"
Hintz wrote. "Ultimately, the targeted company is treated not
as a hardened criminal but as the equivalent of a juvenile
offender that can be reformed."
Goldman Sachs's potential civil litigation risk related to
sales of mortgage-backed securities and collateralized debt
obligations "is manageable," Hintz wrote, because the statute
of limitations for many of the claims has already passed.
Franchise Will 'Suffer'
Goldman Sachs's most senior employees, known as partners,
have every incentive to put the firm's legal and political
problems behind them, Hintz said.
He kept his "outperform" rating on Goldman Sachs. The
stock fell $2.32, or 1.6 percent, to $138.41 at 9:55 a.m. in New
York Stock Exchange composite trading. Goldman Sachs has
declined 16 percent this year through yesterday.
"As politicians continue to criticize the firm and the
public scrutiny persists, we believe that Goldman's clients will
begin to rethink their relationship with the firm and the
franchise will ultimately suffer," he wrote. "With
approximately 17 percent of the ownership in the hands of
current and former partners, this control group has ample
motivation to make amends with politicians and the public in
order to reduce the threat to its franchise."
In July, Goldman Sachs agreed to pay $550 million to settle
a civil fraud suit by the U.S. Securities and Exchange
Commission that alleged the firm misled clients about a
mortgage-linked investment. The settlement, in which the company
also admitted to making a "mistake," was agreed to three
months after the firm's statement that the allegations "are
completely unfounded in law and fact and we will vigorously
contest them and defend the firm and its reputation."
Fabrice P. Tourre, the only Goldman Sachs employee who was
also sued by the SEC in that case, hasn't settled that suit.
For Related News and Information:
On Goldman Sachs and the law: GS US <Equity> TCNI LAW <GO>
On Goldman Sachs earnings: GS US <Equity> TCNI ERN <GO>
Top finance news: FTOP <GO>
For stories on Goldman Sachs: GS <Equity> CN BN <GO>
--Editors: William Ahearn, David Scheer
To contact the reporter on this story:
Christine Harper in New York at +1-212-617-5983 or
charper@bloomberg.net
To contact the editor responsible for this story:
David Scheer at +1-212-617-2358 or
dscheer@bloomberg.net.
Goldman Sachs 'Too Big' to Face Criminal Prosecution, Hintz Says
2011-06-01 14:34:21.217 GMT
By Christine Harper
June 1 (Bloomberg) -- Goldman Sachs Group Inc. won't face
criminal prosecution related to sales of mortgage-linked
securities because such a move could threaten the U.S. financial
system, according to Brad Hintz, an analyst at Sanford C.
Bernstein & Co.
The U.S. Department of Justice, which is reviewing a Senate
subcommittee report that alleged Goldman Sachs misled clients
before the financial crisis, will avoid jeopardizing the fifth-
largest U.S. bank by assets because it's viewed as "too big to
fail," Hintz wrote in note to clients today.
"If an alleged violation is identified during a Goldman
investigation, we expect a reasoned response from the Justice
Department," Hintz wrote. "In a worst case environment, we
would expect a 'too big to fail' bank such as Goldman to be
offered a deferred-prosecution agreement, pay a significant fine
and submit to a federal monitor in lieu of a criminal charge."
Stephen Cohen, a spokesman for New York-based Goldman
Sachs, declined to comment on Hintz's note. Laura Sweeney, a
spokeswoman for the Justice Department in Washington, didn't
immediately reply to requests for comment.
Under a deferred-prosecution agreement, the U.S. files
charges against a company and agrees to dismiss them after a
certain period, typically if the company pays a fine or penalty
and improves its governance or other practices. In October, the
Justice Department dismissed a conspiracy case against UBS AG,
Switzerland's biggest bank, after the expiration of an 18-month
deferred prosecution agreement with the Zurich-based bank.
Litigation Risk 'Manageable'
Hintz, ranked the No. 1 analyst covering brokerage firms in
a survey by Institutional Investor last year, said that the
Justice Department's approach to criminal charges against
companies has changed since accounting firm Arthur Andersen
LLP's business collapsed following a felony charge.
A 2003 Justice Department policy document "stated that
prosecutors can reward cooperation by offering a negotiated
settlement to a targeted company that can range from immunity
from criminal indictment to a deferred prosecution agreement,"
Hintz wrote. "Ultimately, the targeted company is treated not
as a hardened criminal but as the equivalent of a juvenile
offender that can be reformed."
Goldman Sachs's potential civil litigation risk related to
sales of mortgage-backed securities and collateralized debt
obligations "is manageable," Hintz wrote, because the statute
of limitations for many of the claims has already passed.
Franchise Will 'Suffer'
Goldman Sachs's most senior employees, known as partners,
have every incentive to put the firm's legal and political
problems behind them, Hintz said.
He kept his "outperform" rating on Goldman Sachs. The
stock fell $2.32, or 1.6 percent, to $138.41 at 9:55 a.m. in New
York Stock Exchange composite trading. Goldman Sachs has
declined 16 percent this year through yesterday.
"As politicians continue to criticize the firm and the
public scrutiny persists, we believe that Goldman's clients will
begin to rethink their relationship with the firm and the
franchise will ultimately suffer," he wrote. "With
approximately 17 percent of the ownership in the hands of
current and former partners, this control group has ample
motivation to make amends with politicians and the public in
order to reduce the threat to its franchise."
In July, Goldman Sachs agreed to pay $550 million to settle
a civil fraud suit by the U.S. Securities and Exchange
Commission that alleged the firm misled clients about a
mortgage-linked investment. The settlement, in which the company
also admitted to making a "mistake," was agreed to three
months after the firm's statement that the allegations "are
completely unfounded in law and fact and we will vigorously
contest them and defend the firm and its reputation."
Fabrice P. Tourre, the only Goldman Sachs employee who was
also sued by the SEC in that case, hasn't settled that suit.
For Related News and Information:
On Goldman Sachs and the law: GS US <Equity> TCNI LAW <GO>
On Goldman Sachs earnings: GS US <Equity> TCNI ERN <GO>
Top finance news: FTOP <GO>
For stories on Goldman Sachs: GS <Equity> CN BN <GO>
--Editors: William Ahearn, David Scheer
To contact the reporter on this story:
Christine Harper in New York at +1-212-617-5983 or
charper@bloomberg.net
To contact the editor responsible for this story:
David Scheer at +1-212-617-2358 or
dscheer@bloomberg.net.
Wednesday, April 13, 2011
Belal K. Faruki is Now Inducted Into Princeton Global Network
http://princetonglobalpages.com/pr/belal-k-faruki-now-inducted-princeton-global-network
Blogged by Belal K. Faruki CEO, Neotick, Inc
Blogged by Belal K. Faruki CEO, Neotick, Inc
Strange news: Exploding UFOs And Alien Landings' in Secret FBI Files
Secret FBI files have been released detailing how US officials saw a UFO explode over Utah – and aliens land near Roswell in New Mexico.
A declassified document from 1949 tells how three men, on patrols miles apart, each reported seeing a UFO break up over mountains north of Salt Lake City.
Their extraordinary accounts were sent to Edgar Hoover, the director of the FBI, in a memo titled "Flying Discs".
The file said that a policeman, a highway patrolman and an army guard all "saw a silver coloured object high up approaching the mountains at Sardine Canyon" that "appeared to explode in a rash of fire."
"Several residents [reported] seeing what appeared to be two aerial explosions, followed by falling object," it said.
The file is one of thousands of previously unreleased files that the FBI has made public in a new online resource called The Vault.
Among them is a 1950 statement from special agent Guy Hottel, which seems to provide evidence for the theory that aliens landed at Roswell, New Mexico.
In the memo, Agent Hottel said that "three so-called flying saucers had been recovered in New Mexico".
He wrote that the flying saucers were "described as being circular in shape with raised centers, approximately 50 feet in diameter."
In a statement that is reminiscent of the hit 1990s TV programme The X-Files, he went on to describe the alien life forms inside the UFOs.
"Each one was occupied by three bodies of human shape but only 3 feet tall," he wrote.
The bodies were "dressed in a metallic cloth of a very fine texture. Each body was bandaged in a manner similar to the blackout suits used by speed flyers and test pilots."
Agent Hottel suggested that the UFOs had crashed in New Mexico because high-powered government radar had interfered with their operating systems.
The release of the files are likely to intensify the claims of conspiracy theorists who believe the US government covered up alien landings.
Roswell became infamous after reports that a flying saucer had crashed in the desert nearby in 1947.
The bodies of aliens were said to have been recovered by the military.
Blogged by Belal K. Faruki CEO, Neotick, Inc
A declassified document from 1949 tells how three men, on patrols miles apart, each reported seeing a UFO break up over mountains north of Salt Lake City.
Their extraordinary accounts were sent to Edgar Hoover, the director of the FBI, in a memo titled "Flying Discs".
The file said that a policeman, a highway patrolman and an army guard all "saw a silver coloured object high up approaching the mountains at Sardine Canyon" that "appeared to explode in a rash of fire."
"Several residents [reported] seeing what appeared to be two aerial explosions, followed by falling object," it said.
The file is one of thousands of previously unreleased files that the FBI has made public in a new online resource called The Vault.
Among them is a 1950 statement from special agent Guy Hottel, which seems to provide evidence for the theory that aliens landed at Roswell, New Mexico.
In the memo, Agent Hottel said that "three so-called flying saucers had been recovered in New Mexico".
He wrote that the flying saucers were "described as being circular in shape with raised centers, approximately 50 feet in diameter."
In a statement that is reminiscent of the hit 1990s TV programme The X-Files, he went on to describe the alien life forms inside the UFOs.
"Each one was occupied by three bodies of human shape but only 3 feet tall," he wrote.
The bodies were "dressed in a metallic cloth of a very fine texture. Each body was bandaged in a manner similar to the blackout suits used by speed flyers and test pilots."
Agent Hottel suggested that the UFOs had crashed in New Mexico because high-powered government radar had interfered with their operating systems.
The release of the files are likely to intensify the claims of conspiracy theorists who believe the US government covered up alien landings.
Roswell became infamous after reports that a flying saucer had crashed in the desert nearby in 1947.
The bodies of aliens were said to have been recovered by the military.
Blogged by Belal K. Faruki CEO, Neotick, Inc
Facebook Wins Court Decision Enforcing Winklevoss Settlement
Facebook Inc. won a court decision enforcing the settlement of a lawsuit claiming company founder Mark Zuckerberg stole the idea for what became the world’s largest social-networking website.
A three-judge panel of the U.S. Court of Appeals in San Francisco today ruled unanimously that the agreement was “valid and enforceable,” noting that the settlement released Facebook from all claims.
The court rejected claims of Zuckerberg’s former Harvard University classmates, twins Cameron and Tyler Winklevoss, who argued the 2008 agreement should be voided because closely held Facebook didn’t disclose an accurate valuation of its shares before they agreed to settle for $65 million in stock and cash.
That year, a lower court ruled the accord was binding.
“With the help of a team of lawyers and a financial adviser, they made a deal that appears quite favorable in light of recent market activity,” the court said, noting that Palo Alto, California-based Facebook is now valued at $50 billion, three times what the Vinklevosses thought at mediation.
“For whatever reason they now want to back out,”
according to the court ruling today. “Like the district court, we see no basis for allowing them to do so. At some point, litigation must come to an end. That point has now been reached.”
Jerome Falk, an attorney for the Winklevoss brothers, who founded ConnectU Inc., didn’t immediately return a phone message seeking comment.
Jonathan Thaw, a Facebook spokesman, didn’t immediately return a voice-mail message seeking comment.
The case is The Facebook Inc. v. ConnectU Inc., 08-16745, 9th U.S. Circuit Court of Appeals (San Francisco).
Blogged by Belal K. Faruki CEO, Neotick, Inc
A three-judge panel of the U.S. Court of Appeals in San Francisco today ruled unanimously that the agreement was “valid and enforceable,” noting that the settlement released Facebook from all claims.
The court rejected claims of Zuckerberg’s former Harvard University classmates, twins Cameron and Tyler Winklevoss, who argued the 2008 agreement should be voided because closely held Facebook didn’t disclose an accurate valuation of its shares before they agreed to settle for $65 million in stock and cash.
That year, a lower court ruled the accord was binding.
“With the help of a team of lawyers and a financial adviser, they made a deal that appears quite favorable in light of recent market activity,” the court said, noting that Palo Alto, California-based Facebook is now valued at $50 billion, three times what the Vinklevosses thought at mediation.
“For whatever reason they now want to back out,”
according to the court ruling today. “Like the district court, we see no basis for allowing them to do so. At some point, litigation must come to an end. That point has now been reached.”
Jerome Falk, an attorney for the Winklevoss brothers, who founded ConnectU Inc., didn’t immediately return a phone message seeking comment.
Jonathan Thaw, a Facebook spokesman, didn’t immediately return a voice-mail message seeking comment.
The case is The Facebook Inc. v. ConnectU Inc., 08-16745, 9th U.S. Circuit Court of Appeals (San Francisco).
Blogged by Belal K. Faruki CEO, Neotick, Inc
Welcome to my blog
So I finally decided to start a blog. After almost 18 years in the business of financial services I find myself overwhelmed with ideas and information, Blogging my thoughts seems like the natural next step.
Over the years I have founded, managed and consulted to almost every kind of organization you can imagine in this space. From brokerage houses to clearing houses and prime brokers, exchanges, hedge funds, market makers, proprietary trading firms, financial software development houses and other types of related businesses.
I've always been a huge fan of applied technologies in this space. Low-latency! That's the keyword that drives my passion for this business.
I hope you enjoy reading my posts. I welcome your feedback.
Thanks,
Belal K. Faruki
CEO, Neotick, Inc
Over the years I have founded, managed and consulted to almost every kind of organization you can imagine in this space. From brokerage houses to clearing houses and prime brokers, exchanges, hedge funds, market makers, proprietary trading firms, financial software development houses and other types of related businesses.
I've always been a huge fan of applied technologies in this space. Low-latency! That's the keyword that drives my passion for this business.
I hope you enjoy reading my posts. I welcome your feedback.
Thanks,
Belal K. Faruki
CEO, Neotick, Inc
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