Bank of America (NYSE:BAC): According to a survey from Ernst & Young (ERNY.UL), about 83% of private equity firms plan to increase investments in Asia over the next year as they look to tap into potential growth.
Apple Inc. (NASDAQ:AAPL): Apple Inc. has lost its appeal against a United Kingdom ruling that Samsung had not infringed on their design rights. A judge at the High Court in London had originally ruled in July that the look of Samsung’s Galaxy Tab computers was not too similar to designs that were registered in connection with the iPad. He said that Samsung’s devices were not as “cool” because they lacked Apple’s “extreme simplicity.” Apple still needs to run ads saying that Samsung has not infringed on their rights.
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Facebook, Inc. (NASDAQ:FB): The world’s largest social network, Facebook, Inc., announced that they have over sixty five million active users in India, an eight-fold increase over the last two years. Kirthiga Reddy, Director of Online Operations for Facebook India, told reporters that these were all active monthly users. Describing India as an important market for Facebook, Reddy pointed out that they had just eight million users in India when they opened their Indian office in 2010.
AT&T, Inc. (NYSE:T): Before the Clearwire deal was even formally announced, AT&T, Inc. began sounding alarms that a foreign company could soon control large chunks of the nation’s airwaves. “Softbank’s acquisition of Sprint and the control they will gain over Clearwire will give one of Japan’s largest wireless companies control of significantly more United States wireless spectrum than any other company,” Brad Burns, an AT&T Vice President, said in a statement released late Wednesday. “We expect that fact and others will be fully explored in the regulatory review process. This is one more example of a very dynamic and competitive U.S. wireless marketplace which is an important fact for U.S. regulators to recognize.”
Nokia Corporation (NYSE:NOK): Nokia Corporation expects their non-International Financial Reporting Standards Devices & Services operating margin in the third quarter to be approximately negative 6%, plus or minus four percentage points. Nokia said the outlook is based on expectations regarding a number of factors including competitive industry dynamics to continue to negatively affect the Smart Devices and Mobile Phones business units. They view the fourth quarter as being a ramp up quarter for their new Lumia products, which are expected to start selling in select markets. Nokia said that they expect their fourth quarter to be a challenging for Smart Devices with a lower-than-normal benefit from seasonality in volumes.
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