International Business Machines Corporation’s (NYSE:IBM) India division issued salary increases that were higher than anticipated this year, when compared to the single digit rises at Indian information tech firms, according to the Economic Times. Several workers at IBM reported that the increases were between 10 and 25 percent, depending on seniority levels and the business division involved.
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JPMorgan Chase & Company’s (NYSE:JPM) hedge fund has decreased bets on a commodity rally for the first time in nine weeks, as signs of domestic growth and also speculation that central banks will do more to stimulate economies pushed prices to a three-month high, according to Bloomberg.
Merck & Co. Inc. (NYSE:MRK), through its subsidiary Inspire Pharmaceuticals, will modify the payment terms of the existing AzaSite 1 percent license agreement, says InSite Vision Inc. (INSV). From quarter to quarter, Merck will pay InSite the higher of the pro-rated yearly minimum royalty, or the earned royalty for the current year and 2013. Additionally, in the current month, Merck will pay InSite a catch-up payment for the difference between the earned royalty it has already paid for the fourth quarter of last year and the first and second quarters of this year, and the pro-rata annual minimum royalties for those quarters. Through the terms of the AzaSite license arrangement, the minimum royalties due to InSite this year amount to $17 million. Merck will also pay InSite a catch-up payment of approximately $7.2 million prior to August 15, 2012.
Microsoft Corporation (NASDAQ:MSFT): Nokia (NYSE:NOK) and HTC have stepped up the development of the Windows Phone 8 prior to its anticipated intro in September, say industry sources to DigiTimes. Nokia and HTC hope that the acceleration will stop their declining market shares before a new iPhone from Apple (NASDAQ:AAPL) debuts, along with another model from Samsung (SSNLF).
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