Nokia Corporation (NYSE:NOK) is a member of an international research team that will introduce a quantum chip at the British Science Festival beginning Tuesday, that will facilitate mobile phones which are far more secure and also ultra-fast computers. This revolutionary new component is produced from silicon, and works via light to such a degree that theoretically 100 photons could solve trillions of equations simultaneously. Accompanying Nokia in the team are Toshiba and several university scientists.
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The Royal Bank of Scotland’s (NYSE:RBS) Direct Line Insurance division expects to eliminate an unreported number of jobs as part of its plan to save £100 million per year by the end of 2014. The bank intends to float Direct Line later in 2012. In the meantime, RBS’ first half operating profit increased by 7 percent to £224.2 million.
HSBC Holdings (NYSE:HBC) and Deutsche Bank AG (NYSE:DB) are joining with a group of Royal Bank of Scotland shareholders, who are ready to bring a £3.3 billion lawsuit against the latter, its ex-Chief Executive Fred Goodwin, along with other former executives, according to The Times. The group alleges that the firm misled investors in regards to its frailty at the time of a £12 billion rights issue in 2008, which ignited a long decrease in share value. Some 91 institutional investors, in addition to the two other firms are in the group, but between £12 million and £15 million needs to be secured in case of its defeat in court.
ARM Holdings (NASDAQ:ARMH) Chief Executive Warren East is warning that a slump in sales might occur in the second half, because several of its customers are “indicating that they are not expecting an uplift, and mathematically that will hit us.” Even though East is issuing the warning, the firm is going ahead with its anticipated introduction of a new iPhone and Samsung Galaxy Note tablet. However, because of the firm’s worries about sales, it is currently shrinking its recruitment plans.
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