Verizon, AT & T and T-Mobile invests 100 million dollar

Verizon Wireless, AT & T and T-Mobile USA have invested more than $ 100 million in ISIS, a payment system, Google Wallet and promise in the battle.

100 million dollars could be just the tip of the iceberg, because it could invest more. The mobile payment market expected to reach 670 billion dollars by 2015, according to Juniper Research, is expected to milardi 240 dollars this year alone.

The launch of ISIS is scheduled for the beginning or middle of 2012, the project companies currently have partnerships with Visa, MasterCard, Discover and American Express Financial Services.

It will be interesting to see how ISIS thwart Google Wallet, which will be launched soon available on mobile especially with the most popular platform. The plans of the three companies will surely the idea of ​​producing phones with application presinstallata ISIS. We will see what will happen in the near future in the U.S. and if any of these payment systems will never share from our own.

Apple, Steve Jobs resigns as CEO

Steve Jobs resigned yesterday from his position as CEO of Apple and passed the leadership of the company to his right arm Tim Cook, saying he could no longer honor its commitments in an announcement that raised concerns for his health.

Jobs, who has fought and survived a rare form of pancreatic cancer, the last four years has revolutionized the world of technology with the iPhone and iPad. And 'considered the heart and soul of the company that just this month, has become the most highly capitalized companies in America.

"I always said that if it had arrived the day when I could no longer cope with my commitments as CEO of Apple, I would be the first to say so. Unfortunately, that day has arrived," he wrote in a brief Jobs, who becomes now president of the company.

The surprise announcement shakes the title, which has lost up to 7% in trading after the stock market.

Google and Motorola

Just a few days ago the news of Google's acquisition of Motorola's Mobility to "moderate" figure of 12.5 billion (40 per share, 63% more than the actual value of the shares according to market Motorola). In fact, the operation is not yet complete: it should be authorized by the U.S. and the European Union and will be completed by the end of 2011 or early 2012.

This acquisition, as stated in the same dad Larry Page of Google, will increase the portfolio of patents and allow the Mountain View giant to protect themselves from attack by Microsoft and Apple. However, this does not lead to a closure with respect to the nature of "open" Android system, as the operating system will be therefore available from Samsung, Sony Ericsson, HTC, LG and other manufacturers of smartphones and tablet. Motorola Google but will not become an image of its own: Google will leverage Motorola's expertise to produce smartphones, but there will be a competitor to 'iPhone, at least for now.

But Google is not new to the overpriced acquisitions: second to Motorola, the square is the acquisition by $ 3.1 billion for DoubleClick, which provides advertising displays.In third place is Youtube, video sharing site bought in 2006 for a value of 1, 65 billion dollars, the fourth position for AdMob, which specializes in advertising on mobile devices, purchased for $ 750 million, followed by 700 million spent to buy ITA Software, a software company founded in 1996 specializing in search algorithms to optimize the travel and airline flights. Then, with $ 625 million Postini, a company that provides security services and management of e-mail.

Following Admeld, optimization platform for advertising, the figure of 400 million dollars and then slide the social gaming company that developed software for sharing photos on social networks (182 million U.S. dollars). In ninth place WideVine Tech optimizer videos purchased for $ 150 million to develop GoogleTv and tenth place for On2 Technologies, an American company that develops video codes, bought for $ 133 million.

Warren Buffett and taxes

New York-Where did the "shared sacrifice" mentioned by the President of the United States Barack Obama's speech on economic recovery? is what is asked Warren Buffett, the third richest man in the world, in an editorial in The New York Times in which Washington alleges is not enough to tax the American billionaires. "While the poor and middle class fighting for us in Afghanistan and many Americans are struggling to get to the end of the month, we continue to have extraordinary multimillion-dollar tax cuts," says the investor.
"Our leaders have asked us to share the sacrifice", but the elite of the richest in the country "has been spared. Washington feels compelled to protect us as if we were a protected species. It 'nice to have important friends", writes Nebraska billionaire, a number of Berkshire Hathaway.
While the medium-income Americans pay about 33 percent of taxes on their earnings, Buffett paid last year only 17 percent, almost $ 7 million, "which may seem like a very high figure, but the relationship is less than what they paid the rest of the 20 employees "working in his office. But the employer does not want to pull back, and as he says, even his friends billionaires: "Many of them are decent people, who love America and I am grateful for the opportunity that has given him. Some have also adhered to Giving Pledge "campaign launched by Bill Gates calls on the richest Americans to devote half of their wealth to philanthropic causes," and would not be a problem to be taxed more, especially when our countrymen are suffering really " , says Buffett. "I suggest raising taxes. Me and my friends we were already quite spoiled by the Congress that has a soft spot for billionaires. And 'now that our government becomes serious about joint sacrifice," says the investor.

HSBC will cut 30,000 jobs worldwide

British banking group HSBC said Monday it will cut 30,000 jobs worldwide by 2013 and sell almost half its retail bank branches in the U.S., part of a new strategy to focus on fast-growing emerging markets.
HSBC currently employs around 296,000 people worldwide.

As part of its restructuring, HSBC will sell 195 retail banking branches in the United States to First Niagara Bank for around $1 billion. Four more are in northern Westchester County, and two in Putnam County.
The acquisition made HSBC the biggest subprime lender in the United States at the time, which resulted in billions of losses to HSBC leading up to the financial crisis of 2008.

News of the bank's overhaul and its profit — earnings per share rose to 51 cents in the first half from 38 cents a year earlier, allowing for a 12.5 percent dividend increase to 18 cents — boosted the company's share price.

By midday in London, shares in HSBC Holdings PLC were up 4.4 percent at 619.40 pence (10.17).
Seymour Pierce analyst Bruce Packard said the pretax profit figures were about 6 per cent higher than forecast.

"These results look better than expected, underlining the attractions of HSBC's conservative balance sheet and developing markets business," he said.

Gulliver said in a statement that he expects financial markets worldwide to remain volatile this year and in 2012.

Express Scripts and Medco: the largest PBM.

Express Scripts Inc.'s agreement to buy Medco Health Solutions Inc. for $29.1 billion in cash and stock links together two of the nation's largest pharmacy-benefit managers at a time one of them faces losing its biggest customer. 

By joining forces, Express Scripts and Medco will become the largest PBM, with nearly a third of the market. They aim to leverage their newfound heft to lower the cost of prescription drugs—indicating more pressure on pharmaceutical companies at a time they're already facing the loss of patent protection for top products.
"The cost and quality of health care is a great concern to all Americans; this is the right deal at the right time for the right reasons," said Express Scripts Chief Executive George Paz, 55 years old, who will lead the combined company. PBMs help employers and health-insurance companies administer prescription-drug benefits, process claims and control drug costs by securing discounts from drug makers. 

Medco—larger than Express Scripts by revenue but smaller by market capitalization—also confirmed that its deal with managed-care giant UnitedHealth Group Inc. won't be renewed when the current contract expires after next year. UnitedHealth, which represents 17% of Medco's sales, is expected to run that business itself.
Medco holders will receive $28.80 in cash and 0.81 Express Scripts shares for each share, valuing Medco at $71.36, a 28% premium to Wednesday's close. In late morning trading Thursday on the New York Stock Exchange, Medco continued to trade below the offer price. The deal—based on Express Scripts trading at $56.25, up 7%—values Medco at $74.36 a share. Medco shares were trading at $63.04, up 13%.
After the deal closes, Express Scripts shareholders are expected to own about 59% of the combined company, and Medco shareholders will have the remainder. The combined company will be headquartered in St. Louis, where Express Scripts is now. 

The regulatory review "may be challenging," Sanford Bernstein analyst Helene Wolk said, but the industry's competitive intensity, plus the emergence of UnitedHealth's business, "improve the likelihood of approval." CVS CaremarkMedco has faced intense speculation for the past couple months that UnitedHealth could end its relationship with Medco in favor of its own internal pharmacy-benefit manager, known as OptumRx. While the catalyst for the Express Scripts-Medco deal is "ultimately offensive," it's "initially defensive," Barclays analyst Larry Marsh said. He noted Medco's UnitedHealth loss plus Express Scripts "weaker-than-expected scripts" for the second quarter. 

There has already been consolidation in the pharmacy-benefit-management industry. In 2009, it acquired the prescription unit of WellPoint Inc., a health insurer, in a $4.7 billion deal. 

In 2007, Express Scripts lost out on acquiring rival Caremark Rx to drug store giant CVS, which acquired Caremark for about $26 billion. At that time, Medco was seen as a possible next target for Express Scripts. Express Scripts, which employs about 13,000 people, also distributes injectible biopharmaceutical products to patients or doctors, and provides cost-management and patient-care services.
Medco, spun out of drug giant Merck & Co. in 2003, provides clinical research and pharmacy services aimed at improving care while reducing health-care costs for private and public employers, union and government agencies. The company took in $66 billion in 2010 net revenue. 

Express Scripts reported Thursday that its second-quarter earnings climbed 15% to $334.2 million, or 66 cents a share. Excluding items, per-share earnings were 71 cents. Meanwhile, Medco reported its earnings fell 4% to $342.8 million, or 85 cents a share. Excluding write-downs, per-share earnings rose to 96 cents from 87 cents. Revenue rose 4.1% to $17.07 billion. 

The advisers for Express Scripts are Credit Suisse Group AG, Citigroup Inc. and law firm Skadden, Arps, Slate, Meagher & Flom, LLP. Medco is advised by J.P. Morgan Chase & Co., Lazard Ltd., and law firms Sullivan & Cromwell LLP and Dechert LLP.

Barack Obama: Talk for U.S. Debt Crisis Continues

President Barack Obama faced with tough decisions related to the country's debt crisis.

United States President Barack Obama continued discussions with congressional leaders about the country's debt crisis problem.
Obama's spokesman, Dan Pfeiffer, said the president was discussing several options in a closed discussion with congressional leaders.
The U.S. government should increase their current budget deficit of U.S. $ 14.3 trillion, or about Rp122.000 trillion as of August 2 and pay the debt.
However, so far talks between the political parties have not reached an agreement even though Obama for U.S. warns time is running out.
Republicans have so far rejected Obama's proposal to raise taxes for rich Americans to increase the budget.
Republican politicians argued the plan will only turn off the investment and job growth.
In addition, the Republicans who control the House insisted it will not increase the budget deficit limit unless the Democrats agree to a massive budget cuts.


Budget cuts
Meanwhile, in his weekly, President Obama appealed to the American people had a role in addressing this economic crisis.
"All of us together to face this problem," Obama said.
"In fact, we can not overcome the economic deficit in the absence of budget cuts," Obama added.
However, Obama continued, the economic deficit would not be resolved without a tax increase for rich Americans.
"Moreover, the deficit could not be completed without closing loopholes that give corporations huge profits that can not be obtained the common people," Obama added.
Obama said it was considering cutting the budget but he wanted the Republicans also consider the matter of increased taxes.
Previously, the ratings agency Standard & Poor's lowered the credit standards of the U.S. due to further improve the chances of failure to pay the U.S. government.
Other agencies, Moody's warned it would cut its first triple-A credit standards for Washington.

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source:  articlecity.com

EBA: there are 16 other banks that fall into the danger zone

European Banking Authority, the European Banking Authority (EBA), which conducted medical tests are also said there are 16 other banks that fall into the danger zone.
EBA requested that the national financial regulators can ensure the bank's capital.
The eight banks that fail that test is five from Spain, two in Greece and one Austrian bank.
   
Earlier on Wednesday, Helaba German banks have withdrawn from the pressure test, so it can be deemed included in the banks that failed in the test pressure. Announcement of eight banks
EBA in the announcement of the eight banks are clearly named and the owner of the bank failing to pressure test.
In Austria, Volksbank Oestereichische declared a failure, while in Greece, two state-owned banks - ATEbank and EFG Eurobank - also declared a failure.
While banks are failing is in Spain, Caixa Catalunya, Father, Unnim, Caja3 and CAM. Seven others are still done the pressure test.
Although many banks in Spain that have failed the test, but the central Bank of Spain Governor Miguel Angel Fernandez Ordonez said no need to inject funds into banks is because they are middle restructured.
EBA stated there are 16 other banks must strengthen capital if it wants to survive.
After the announcement of this EBA, Bank of Portugal's central bank said two countries will immediately strengthen their finances.
Banco Comercial Portugues, Portugal's biggest banks and Espirito Santo Financial Group, will strengthen the capital within three months.
Banks in Portugal are also experiencing a crisis that must be injected liquidity assistance amounting to 78 billion euros.
The announcement of the test pressure on banks in Europe also came out just a day after the Italian parliament approved the package of savings amounting to 70 billion euros.  
Italian banking itself passed the pressure test with a''considerable''margin.

CPI Aerostructures and Sovereign Bank

Police are asking the public to help identify the suspect in an armed robbery at the Sovereign Bank at 578 Windsor Ave. Monday morning.
No one was injured during the robbery.
The suspect is described as dark-skinned with a thin build and a possible mustache. He is about 6-foot-2.
He wore a black leather jacket over a hoody, dark saggy pants, knit gloves and a baseball bap with the Florida Marlins logo.
He walked into the bank around 9:29 a.m., implied he had a weapon and handed the teller a note, police said. He fled with an undetermined amount of cash.
The robber was last seen walking from the bank into the Windsor Shopping Center parking lot.
Anyone with information is asked to call Windsor police with information 860-688-5273, Ext. 512

SEC Charges FDA Chemist With Insider Trading

Now is the time to face a reality that most Pharma brands have never really admitted to themselves … that guidelines are unlikely to come anytime soon simply because it is not urgent for the FDA to focus on. In the meantime, the FDA will continue to prioritize the more important activities they are responsible for - and any significant guidance is unlikely to come in the near future until something forces the FDA to treat this as a more urgent request.


 

  marketwatch.com :

WASHINGTON (MarketWatch) -- The U.S. Securities and Exchange Commission on Tuesday charged a U.S. Food and Drug Administration chemist with insider trading on confidential information about announcements of FDA drug approval decisions. The chemist, Cheng Yi Liang, traded in advance of at least 27 public announcements about FDA drug approval decisions involving 19 publicly traded companies, the SEC alleges. The trades generated more than $3.6 million in illicit profits and avoided losses, the SEC said.

This lack of guidance has meant that pharma brands are forced to operate in the dark when it comes to social media. The lack of guidance has led to many misunderstandings and angst over warning letters sent for digital marketing efforts, and as a result many valuable patient education efforts have been stalled in the hopes that guidelines would be coming soon.
Most thought leaders working in social media for pharma brands will share that there is already a way to use social networks and tools to offer value to patient communities, support HCP communications and otherwise make a positive impact in communications. The lesson any pharma brand should take from this latest delay is that waiting for some guidelines is no longer a viable alternative to moving ahead with the strategic use of social media.

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Libyan rebels reclaim 2 oil centers in sweep west

Yahoo news-RAS LANOUF, Libya – Libyan rebels have seized back a second key oil complex and are pushing west toward Tripoli, after international airstrikes that tipped the balance away from Moammar Gadhafi's military.
The rebels seized back the oil refinery of Ras Lanouf on Sunday after taking control of Brega, another oil complex on eastern Libya's coast.
Ras Lanouf and Brega were responsible for a large chunk of Libya's 1.5 million barrels of daily exports, which have all but stopped since the uprising that began Feb. 15 and was inspired by the toppling of governments in Tunisia and Egypt.
On the eastern approach of Ras Lanouf, airstrikes apparently hit three empty tank transporters and left two buildings that appeared to be sleeping quarters pockmarked with shrapnel.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
AL-EGILA, Libya (AP) — Libyan rebels took back a key oil town and pushed westward Sunday toward the capital, seizing momentum from the international airstrikes that tipped the balance away from Moammar Gadhafi's military.
Brega, a main oil export terminal in eastern Libya, fell after a skirmish late Saturday and rebel forces moved swiftly west, seizing the tiny desert town of Al-Egila — a collection of houses and a gas station — on their way to the massive oil refining complex of Ras Lanouf.
"There was no resistance. Gadhafi's forces just melted away," said Suleiman Ibrahim, a 31-year-old volunteer, sitting in the back of a pickup truck. "This couldn't have happened without NATO. They gave us big support." He said that rebels had already reached Ras Lanouf.
Ras Lanouf and Brega combined would be responsible for a large chunk of Libya's 1.5 million barrels of daily exports, which have all but stopped since the uprising that began Feb. 15 and was inspired by the toppling of governments in Tunisia and Egypt.
"As they move round the coast, of course, the rebels will increasingly control the exit points of Libya's oil," British Defense Secretary Liam Fox told the BBC. "That will produce a very dynamic and a very different equilibrium inside Libya. How that will play out in terms of public opinion and the Gadhafi regime remains to be seen."
U.S. Defense Secretary Robert Gates said the international action appeared to be a success.
"The key here was establishing a military mission that was achievable, was achievable in a limited period of time and could be sustained," he told CBS' "Face the Nation" on Sunday.
The Gadhafi regime on Saturday acknowledged the airstrikes had forced its troops to retreat and accused international forces of choosing sides.
"This is the objective of the coalition now, it is not to protect civilians because now they are directly fighting against the armed forces," Khaled Kaim, the deputy foreign minister, said in the capital, Tripoli. "They are trying to push the country to the brink of a civil war."
The U.N. Security Council authorized the operation to protect Libyan civilians after Gadhafi launched attacks against anti-government protesters who demanded that he step down after 42 years in power. The airstrikes have crippled Gadhafi's forces, allowing rebels to advance less than two weeks after they had seemed at the brink of defeat.
The rebel turnaround is a boost for President Barack Obama, who has faced complaints from lawmakers from both parties that he has not sought their input about the U.S. role in the conflict or explained with enough clarity about the American goals and exit strategy.
Obama was expected to give a speech to the nation Monday, and U.S. Secretary of State Hillary Rodham Clinton on Sunday defended the administration's decision.
Libya, she told CBS, "had a leader who used military force against the protesters from one end of his country to the other, who publicly said things like "we'll show no mercy," "we'll go house to house," and the international community moved with great speed in part because there's a history here."
Pentagon officials are looking at plans to expand the firepower and airborne surveillance systems in the military campaign, including using the Air Force's AC-130 gunship armed with cannons that shoot from the side doors, as well as helicopters and drones.
Fox, the British foreign minister, ruled out supplying arms to the rebels. "We are not arming the rebels, we are not planning to arm the rebels," he said.
NATO's top decision-making body meets Sunday to expand its enforcement of the no-fly zone to include airstrikes against Libyan ground targets. Washington has been eager to hand off responsibility to NATO, which is expected to take command Sunday of the no-fly zone mission.
Pope Benedict XVI urged a suspension of fighting as soon as possible, telling pilgrims in St. Peter's Square he was praying for harmony in Libya and North Africa, but was making "a heartfelt appeal . . . to immediately start a dialogue to suspend the use of arms."