Bank of America Corp. (NYSE:BAC): Bloomberg reports that as central banks rebuild foreign-exchange reserves at its most rapid pace since 2004, they crowd out private investors who seek U.S. dollars, thus boosting demand while the Fed considers printing more currency. According to the most recent IMF figures, the dollar’s share of global reserves rose 1.6% to 62.1% during December. Investment-flow data by Morgan Stanley suggests that the private sector has been left with $2T less than necessary.
Microsoft Corporation (NASDAQ:MSFT): Early this morning, Samsung (SSNLF) announced the introduction of SAFE, Samsung Approved for Enterprise, as well as the Galaxy S III, which is the first SAFE-branded smartphone released in the U.S. By July, the Galaxy S III will be available at AT&T (NYSE:T), Sprint (NYSE:S), T-Mobile (DTEGY), Verizon Wireless (NYSE:VZ) and US Cellular (NYSE:USM). Samsung claims that the smartphone supports a full suite of features ready for enterprise and is capable of supporting 338 IT Policies.2. Samsung reports that on-device AES-256 bit encryption, enhanced support for Microsoft Exchange ActiveSync, and support for industry-leading Virtual Private Network and Mobile Device Management solutions are included.
Sirius XM Radio Inc. (NASDAQ:SIRI): Sirius XM has filed a lawsuit against SoundExchange and A2IM accusing the non-profits of plans to prevent Sirius XM from securing direct deals with record labels that would leave SoundExchange in the dust and a non-beneficiary. Sirius XM testified their case last week before the Copyright Royalty Board, and Sound Exchange is presenting their case this week.
Facebook, Inc. (NASDAQ:FB) has acquired Face.com, according to Face.com’s blog. Facebook is probably most interested in the website’s Photo Tagger facial recognition app, which could be applied to billions of photos uploaded by Facebook users, as well as its domain name. Rumors in May suggested that the acquisition would total $80-$100M. Yandex (NASDAQ:YNDX), owner of Face.com stake, seems to rally on the news.
Ford Motor Co. (NYSE:F): In order to protest a proposal regarding lowered pay rates and pension cuts for new employees, Ford’s salaried workers in England planned a 24-hour strike on Monday. The strike began Monday morning by white-collar members of Britain Unite union, which is the United Kingdom’s largest union representing nearly 1,200 white-collar Ford employees. The company had voted in May to authorize a strike if it was unable to reach an agreement with Ford.
Don’t Miss: Facebook is ADDICTED to Buying.
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