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Oct 21, 2011

ZNET: Steve Jobs: Android's a stolen product; Linux server be gone, I'm moving back to Windows | Tech Update Today



Today's Top Picks
Steve Jobs said he would go "thermonuclear" on Android, an operating system he saw as a "stolen product."
Related stories:


Recommended
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If you sign your small business up with Office 365, make sure you read the fine print carefully.
Both cloud and on-premises versions of its Office products were the star in Microsoft's first fiscal 2012 quarter results.
New motto: For all of us who have lives, there's Windows.
The patch, which provides a fix for the SSL Beast attack, comes at a time when anti-malware vendors are reporting an "unprecedented wave" of exploits against vulnerabilities in Java.
I've had Larry Dignan's 'deer in the headlights' post open all week. It troubles me. Not because I think Larry is wrong but what if Gartner is right?
Android device owners are clamoring for information about when they can expect Android 4.0 to arrive. They should be wondering what flavor they will get if it does.
Even if the idea of supporting employee-owned smartphones, tablets and notebooks is a pipedream, it will alter how your organization approaches mobile technology.
Hot Topic Spotlight
Is it making a mountain out of a molehill?

Featured Photo Gallery
The iPod's only been around a decade, but its iterations and variations are numerous. Check out the iPod's most memorable moments.
More photo galleries:
Ten great Android 4 features (screenshots)
Vogel's Ringo iPad car mount
Rennsport Reunion IV: A collection of vintage and racing Porsches

Featured Product Coverage
The iPhone 4S is calling, and now may be your last chance to trade-in your gently used AT&T iPhone 4 for maximum dollar from NextWorth.
More product coverage:
When will current Android devices get upgraded to Ice Cream Sandwich? Here are a few clues
Asus reveals next-gen quad core Transformer
5 reasons Siri frustrates me
Like gadgets? Sign up for ZDNet's Product Watch Newsletter

Kitco New York Market Close Report


New York Market Close Oct 21/11 05:21 PM EDT
Metals Bid Ask Change Low High
Gold
1642.00
1643.00
21.80
1.35%
1618.10
1649.50
Silver
31.40
31.50
0.82
2.68%
30.37
31.61
Platinum
1511.00
1516.00
20.00
1.34%
1484.00
1520.00
Palladium
612.00
619.00
28.00
4.79%
588.00
628.00

MarketWatch | weekly Roundup: Top Ten Stories Oct 17 - 21


MarketWatch

Weekly Roundup
OCTOBER 21, 2011

MarketWatch top 10 stories Oct. 17–21

By MarketWatch



Earnings season kicked into gear this week, but — the attention undeniably drawn to Apple, which suffered and paid dearly for a rare earnings miss, and such blue chips as McDonald's, AT&T, Bank of America, Microsoft, GE and Coca-Cola notwithstanding — global news by and large relegated corporate news to the shadows, with the death of Libyan tyrant Moammar Gadhafi the announcement that all U.S. troops in Iraq would be withdrawn by year-end foremost.

The market's show, of course, must go on. And there was a measure of drama on the stock-index front, as the Dow industrials (DJIA) rode a Friday rally to turn around the week's losses. The result: a 1.4% pickup from last Friday and the fourth straight weekly advance for the blue-chip gauge — its longest win streak since January. The S&P 500 (SPX) tacked on 1.1% on the week. The Nasdaq Composite (COMP) skidded lower by that same percentage.

 

Stay tuned to MarketWatch this weekend for all the latest breaking news and developing stories, including coverage of the much-anticipated euro-zone summit in Brussels. Plus our Weekend Investor column: Can banks tocks bail out your portfolio?

And, as you position for next week's market action, take a look at these weekly previews from MarketWatch Radio and our video crew:

 The Week Ahead: The EU summit, then Caterpillar earnings.

 Asia Week Ahead: China, Australia, chip makers.

 Europe Week Ahead: EU summit, BP, UBS earnings.

 Jim Awad: Investors have high hopes for weekend summit in Europe.

Greg Morcroft and Tim Rostan

Gadhafi's death puts Libya on front foot

Then killing of Col. Moammar Gadhafi represents a vital step forward for Libya, the country he ruled for 42 years. It will help the transitional government press on with political reforms. It will encourage foreign governments to unfreeze more of Libya's cash abroad. And improved security should help in the ramp-up of oil and gas production. Risks in the country are still high, of course, but Libya's post-conflict recovery is already on a faster track than many predicted. Read more about Libya after Gadhafi on MarketWatch.

Groupon IPO aims for as much as $621 million

Groupon said Friday it will sell 30 million shares of Class A common stock at a price in a range of $16 to $18 each, aiming to raise between $480 million and $540 million. The share count indicates it's aiming to sell about a 5% stake to the public in this offering, implying, according to various calculations, an overall valuation of between $11 billion and $12 billion."One way to maintain a steep valuation in an IPO is to sell very little equity," said Josef Schuster of IPOX Schuster LLC, a Chicago-based firm specializing in financial products related to IPOs and spinoffs. Read MarketWatch's coverage of the latest news on the Groupon IPO.

Chanos: China's hard landing has already begun

China is heading into an economic storm, and the much-feared hard landing of the world's second-largest economy has already started, warned celebrated hedge-fund manager and China bear Jim Chanos of Kynikos Associates. "The numbers are falling faster than we thought," said Chanos during an exclusive interview with MarketWatch. Read MarketWatch's Chanos interview

Bank of America profit up on one-time gains

Bank of America (BAC) said its third-quarter profit increased on the back of several large, one-time gains from accounting methods and a big gain from its sale of China Construction Bank shares. The bank posted a profit of $6.2 billion, or 56 cents a share, compared to a year-ago loss of $7.3 billion, or 77 cents a share. Said Evercore Partners analyst Andrew Marquardt: "Overall, [it is a] very mixed bag of results with significant core miss and barely positive on the quarter, but capital levels improved thanks to one-time gains and a shrinking balance sheet." Read MarketWatch coverage of Bank of America earnings

Apple earnings jump but miss expectations

Apple (AAPL) earnings missed estimates despite a 54% jump in net income, as sales of the iPhone fell off from the preceding quarter ahead of the launch of the 4S model. The company said it sold just more than 17 million units of the iPhone — down 16% from the June quarter. Analysts had been expecting flat sales of the device, as many customers were believed to have postponed purchases while waiting for the launch of a new iPhone model, which hit stores last Friday. Read MarketWatch coverage of Apple earnings

ReutersRussian Prime Minister Vladimir Putin gestures at a September meeting with activists of the All-Russian People's Front.
A sobering look inside Putin's Russia

Top opposition politicians painted a grim picture of a corrupt Russia groaning under the weight of a tyranny only slightly less cruel than in Soviet times. Grigory Yavlinsky whose party, Yabloko, will participate in December's parliamentary elections, said Russia has neither rule of law nor property rights. "The judiciary," he said at an event in Prague, "is controlled by the ruling elite and money." Boris Nemtsov a leader of the People's Freedom Party, said that by orchestrating a return to the presidency, Vladimir Putin "has decided to be president for life." He accused the Russian leader "of keeping totalitarianism to protect corruption." Putin's friends, he continued, are the "crony capitalists" who have plundered state assets and safely deposited that ill-gotten wealth outside Russia. Read MarketWatch's Outside the Box column on Russia under Putin.

McDonald's profit rises as same-store sales grow

McDonald's (MCD) third-quarter earnings rose 8.6% as the fast-food giant benefited from same-stores-sales growth, particularly in the U.S. and Europe. The news sent the firm's stock to an all-time high. McDonald's has consistently outperformed its competitors during and since the recent economic downturn. An increasingly diverse menu — ranging from value offerings to higher-margin products like blended-ice drinks — has contributed to its strong performance and helped the company battle rising commodity costs. Read full MarketMatch coverage of McDonald's earnings

Large U.S. firms outpace tepid U.S. growth

The extensive exposure large U.S. corporations have to overseas markets is protecting them from sluggish domestic demand, leaving the broader economy to falter in tandem with the fortunes of small businesses, the provider of most jobs in the country. Three years after Lehman Brothers' collapse, the financial strength of S&P 500 companies stands in stark contrast with a U.S. economy that is barely growing and continues to be dogged by high unemployment. Thanks to their strong overseas sales as well as low wages and interest rates in the U.S., S&P companies are now in a much stronger position than they were at the time of the crisis, with profits near record levels and a mountain of cash idling on their books. Read more about big companies' overseas advantages.

Get ready for a long — and better — retirement

The more things change, the less they will be the same. That's not a mistake. That's a fact. Over the next decade, new products, technology and adviser practices will make retirement look quite different than it does today. When things will change is perhaps open to debate. But three of the nation's leading experts who appeared as part of a live panel discussion in New York recently said the changes will be radical. According to the experts, Americans will likely live longer than their forebears. That's the good news. The bad news is that they will likely live their lives with some sort of chronic illness, such as Type 2 diabetes or hypertension. Read Robert Powell's Retirement Adviser column on the changing tone of our golden years.

Why it can pay to try a short sale of your home

Foreclosure was looming for Richard Bernstein after a divorce and the loss of a job made it impossible for him to make his monthly mortgage payments. So Bernstein decided to try selling his Deerfield, Ill., home as a short sale. It worked, and the home recently sold for $210,000. It had appraised for more than $500,000 at the height of the market, he said. The icing on the cake: His lender, Chase (JPM), cut him a $20,000 check after the deal was finalized, an incentive the bank offered if he sold via a short sale as opposed to letting the home go into foreclosure. Read more about the potential advantages of a short home sale in Amy Hoak's Home Economics column .

MarketWatch | Personal Finance Daily : Where home values will rise in year ahead: report


MarketWatch

Personal Finance Daily
OCTOBER 21, 2011

Falling satellites: There's insurance for that

By MarketWatch



Don't miss these top stories:

Are you worried about Rosat, the German space satellite that's slated to hit Earth at some point this weekend? It's extremely unlikely that you'll be hurt by a falling satellite, but we do tend to worry about the least likely events, don't we? The good news is that if pieces of falling space machinery do hit you or your property, your insurance likely will cover the damage, according to a release on Friday from the Insurance Information Institute, an industry trade group.

Falling objects are covered under standard homeowners and business policies, the III said. If you have comprehensive coverage on your car, that would cover damage from a satellite, the III said. And, "in the tragic event that satellite debris were to strike a person [his] injuries would be covered under health insurance and, in the event of a death, existing life insurance policies would kick in." Read more on the III site.

In other news: If you're planning to travel this holiday season, don't miss Jennifer Waters's column today. Airfares are expected to be quite a bit higher this season compared to last year, but there are ways to save on costs.

Read her story, plus don't miss Lew Sichelman's Realty Q&A for more details on a government program aimed at addressing the concerns of homeowners who feel they didn't get a fair deal from their mortgage lender during a foreclosure proceeding.

Andrea Coombes , Personal Finance editor

TRAVEL

Brace yourself for holiday airfare hikes

Airline experts predict 6% to 10% price increases for airfares in November and December. Here are five tips to get the best deal.
Read more: Brace yourself for holiday airfare hikes.


CAREERS

Jobless in America? Find work in Asia

When Don Phan was looking for a job last April, he thought he'd stay in New York. But when he was offered a position in Thailand, he decided he just couldn't pass up the opportunity to witness rapid economic growth firsthand and capitalize on the country's emerging private equity industry.
Read more: Jobless in America? Find work in Asia


REAL ESTATE

Foreclosure reviews on the way

People who think they are the victims of errors, misrepresentations or other deficiencies in the foreclosure process will soon be eligible for case reviews.
Read more: Foreclosure reviews on the way.


Where home values will rise in year ahead: report

Housing markets in the Great Plains are showing the greatest strength these days but, while not many markets are fully rebounding, a good number of them won't see values fall at quite as rapid a pace as in recent years, according to a new report. Read that story and more in Real Estate Weekly.
Read more: Where home values will rise in year ahead.


Stay-at-home 20-year-olds: key to housing rebound

The key to getting the housing market to rebound from depressed levels could well lie in an unlikely source, Putnam analysts say: people in their 20s who live with their parents or with roommates.
Read more: Stay-at-home 20-year-olds: key to housing rebound.


ECONOMY & POLITICS

Charting the top 0.89%, inflation and housing data

The week's releases show the breakdown of wage earners, the inflation spike that will bring more cash to seniors, and the mixed messages sent by the nation's housing market.
See charts: Charting the top 0.89%, inflation and housing data.


INVESTING

Can bank stocks bail out your portfolio?

For a bargain-hunting investor, buying bank stocks after a 26% rout this year may sound too good to pass up. But uncertainty about European debt and U.S. monetary policy raises the risk that these cheap stocks could fall further.
Read more: Can bank stocks bail out your portfolio?


What 2012 election means for stocks

The 12 months leading up to presidential elections are typically very good for the stock market, right?
Read more: What 2012 election means for stocks.


Fake Bernie Madoff still keeping it real

Jay Berkman pretends to be someone he's not. Since 2008, he's been blogging and tweeting as Bernie Madoff.
Read more: Fake Bernie Madoff still keeping it real.


INTERNATIONAL

Thai rate cuts possible in wake of flood disaster

Thailand's floods have already forced a pause in the central bank's tightening campaign, but further rounds of easing could be constrained by rising inflation — especially food prices — as the nation tallies crop damages from the worst flooding in 50 years.
Read more: Thai rate cuts possible in wake of flood disaster.



NYT: Afternoon Business News: Funds Approved for Greece but Leaders Remain Divided



BUSINESS

Funds Approved for Greece but Leaders Remain Divided

By STEPHEN CASTLE, JACK EWING AND LIZ ALDERMAN
European finance ministers agreed to release an €8 billion loan package at the start of six days of what is likely to be contentious negotiations.
Common Sense

Volcker Rule Grows From Simple to Complex

By JAMES B. STEWART
Many people across the political spectrum do not support the Volcker Rule as it is now written - including Paul Volcker.

G.E. Profit Up Despite 'Volatile' Economy

By CHRISTINE HAUSER
Net earnings rose 57 percent compared to 2010 although sales were flat.

BP Plan for Gulf Drilling Is Approved

By CLIFFORD KRAUSS
The Obama administration approved the first oil drilling plan for the company in the Gulf of Mexico since an explosion sank the Deepwater Horizon rig more than a year ago.

China Warns of Bad Effects if U.S. Turns Protectionist

By KEITH BRADSHER
The Chinese government told the United States that giving in to request by the American solar panel industry for steep tariffs would hurt the global economy.

CBS NEWS | Political Hotsheet Top Stories: Protest prompts Cantor to cancel speech

The CBS News Political Hotsheet newsletter


CBS POLITICAL HOTSHEET TOP STORIES    



   
House Majority Leader Eric Cantor cancels speech on income inequality at University of Pennsylvania because protesters planned to make presence felt
Read full story
Protest prompts Cantor to cancel speech

Under fire, Herman Cain tweaks 9-9-9 plan Republican presidential candidate exempts those below poverty level from income tax and includes exemptions for business investment

What was Herman Cain like as CEO? Herman Cain's former employees at Godfather's Pizza recall him as an energetic and dynamic leader

Iraq: By the numbers As Obama announces the end of the Iraq War by year's end, here's a look at some key numbers surrounding the nearly nine-year war

Obama: U.S. troops in Iraq coming home President said all U.S. troops in Iraq will be "home for the holidays"

Stocks & Markets in The News: U.S. Stock Market At Close: Stock rally extends weekly wins for Dow, S&P 500 | MarketWatch - Market - Pulse

By Laura Mandaro

SAN FRANCISCO (MarketWatch) -- U.S. stocks surged into the close of trading Friday as optimism over an upcoming Europe leaders meeting and a break through a technical level on the S&P 500 SPX +1.88% lured in buyers. The Dow Jones Industrial Average DJIA +2.31% ended up 267.01 points, or 2.3%, at 11,808.79. Friday's gains erased a weekly loss. The blue-chip index rose 1.4% for the week, its fourth week of gains, which is the longest weekly winning streak since January. The S&P 500 SPX +1.88% added 22.86 points, or 1.9%, to 1,238.25. It gained 1.1% for the week, its third weekly advance, the longest stretch since February. The Nasdaq Composite COMP +1.49% added 38.84 points, or 1.5%, to 2,637.47. It fell 1.1% this week.

DealB%K Afternoon Edition: Murdoch Faces Off With Shareholders


TOP STORY
Rupert Murdoch is sure to face shareholders' questions in a phone-hacking scandal.
Murdoch Faces Off With Shareholders DealBook live-blogged News Corp.'s first shareholders meeting following a phone-hacking scandal.
  • DEALBOOK »
  •  
  • DEALBOOK HIGHLIGHTS
    Deal Professor: Corporate Governance Issues Grow More Complex The Deal Professor examines the unintended consequences of changes in corporate governance and the prospects for the future.
    London Protesters Asked to Leave St. Paul's Cathedral On Friday, religious leaders at St Paul's Cathedral, a 300-year church whose grounds the Occupy London Stock Exchange campaign had used as its headquarters, called on the protesters to decamp.
    What Is a Banker Worth? Here Is One Answer Are you worth $85,000 on the job market? $500,000? A new Web site -- "What Is My Value?" -- allows finance workers to find their personal price tag.
    Bridgewater's Dalio: 'I Think I Did Everything Right' Ray Dalio, the founder of Bridgewater Associates, told Charlie Rose that the economy was in a deleveraging process, and that he did not deserve the ire of Occupy Wall Street protesters.
    Live From New York, It's Steve Schwarzman The Blackstone Group's co-founder delivered more than a few zingers at a top Catholic charity dinner on Thursday, picking on politics, Bank of America -- and himself.
    Macarthur Coal Shareholder Backs Peabody Bid China's Citic Resources, which owns 25 percent of Macarthur Coal, said it had agreed to a $16-per-share offer from Peabody Energy, the American coal company.
    Bain to Buy Japanese Restaurant Chain from Nomura
    Bain to Buy Japanese Restaurant Chain from Nomura The private equity giant Bain Capital agreed to buy Skylark, a Japanese restaurant chain, from Nomura Holdings and other investors for $2.1 billion on Friday, in one of the country's largest private equity deals since the financial crisis.
    A New Video Role for Groupon's C.E.O. No "monkey for a week" silliness. In this video, the C.E.O., Andrew Mason, makes a serious case for his company's initial public offering.
    Frederick A. Goodwin
    For British Ex-Bankers, Life Beyond the Bailouts Three years after Britain rescued Royal Bank of Scotland, the Lloyds Banking Group and Northern Rock, DealBook tracked down some former top executives.
    Santander to Sell Stake in U.S. Auto Financing Group
    Santander to Sell Stake in U.S. Auto Financing Group As it looks to shore up its books, Spain's Grupo Santander announced a deal to sell a 35 percent stake in its American automotive financing unit to a group of private equity firms.
    Groupon's chief executive, Andrew Mason.
    Groupon Narrows Losses and Seeks $16 to $18 a Share As it prepares to pitch potential investors during its roadshow, Groupon reported nearly breaking even and disclosed an expected I.P.O. price range that would value the company at as much as $11.4 billion.
    BUZZ TRACKER
    Movie Review: 'Margin Call' The New York Times's A.O. Scott writes that J. C. Chandor's film "is a tale of greed, vanity, myopia and expediency that is all the more damning for its refusal to moralize."
    LOOKING AHEAD
    Corporate Earnings Companies reporting results on Monday include Amgen, Caterpillar, Kimberly-Clark, Lorillard and Netflix.

The Economist | New Selected articles: Newsbook / Charlemagne / Americas View and ... More

The Economist  New on The Economist online

A selection of new stories from The Economist
» Newsbook: The end of ETA?
» Charlemagne: Death of a summit
» Americas view: As clear as MUD
» Babbage: Difference Engine
» Babbage: printf("goodbye, Dennis");
» Daily chart: Women in Egypt
» Online debate: Israel and Palestine
»  Get more access to The Economist with a print or digital subscription.
Already a print subscriber? Activate your online account
Newsbook: The end of ETA?
The end of ETA?
read more »
Charlemagne: Death of a summit
France and Germany still disagree over how to resolve the debt crisis
read more »
Americas view: As clear as MUD
An opposition presidential candidate remains barred from taking office
read more »
Babbage: Difference Engine
The UltraViolet coalition wants to manage all the videos you watch
read more »
Babbage: printf("goodbye, Dennis");
Saluting Dennis Ritchie, a father of modern computing
read more »
Daily chart: Women in Egypt
A videographic explores whether the lot of Egypt's women will improve after the country's revolution
read more »
Online debate: Israel and Palestine
Is the peace process broken?
read more »