Receiving Wide Coverage ...
Making Eyes At Google’s Acquisition: The Post covered Google's deal to acquire Motorola Mobility and raised the issue that the "The Federal Trade Commission is already looking at broad worries about how Google leverages its dominance." There are “enormous risks” to the deal, according to the Journal, as the software company will now “have to run manufacturing plants, manage inventory and nurture relations with carriers and retailers.” The Times said “Google said that Android, which the company gives away to cellphone manufacturers, would continue to remain an open system, but that Google would also become a competitor to those partners, like Samsung and HTC.”
Banks and 13F Filings: Stocks in Bank of America, Citigroup and other financial-services companies have been a leading factor in the dreadful performance of one of Paulson & Co.’s hedge funds, the Times reported. The Journal also looked at 13F filings, which showed that big investment funds were mixed on their feelings about bank stocks, with some buying and others selling their shares in individual banks.
Wall Street Journal
The paper followed up on the Toronto-Dominion Bank’s purchase of Bank of America’s Canadian credit card business, detailing how TD is expanding its role in the U.S., calling the move “risky,” given the economic situation.
Wells Fargo will hire 25 investment bankers who work for Chicago hedge fund Citadel LLC, along with the deals they were involved with, reportedly in exchange for a percentage the fees from those deals.
The Federal Reserve’s senior loan officers’ survey found lending standards eased, demand was up for some types of loans, especially business loans, while demand remained weak for residential mortgages.
New York Times
Reports of much-slower growth could lead to inflation, giving the European Central Bank leeway to keep interest rates low and intervene in the bond markets. Germany’s gross domestic product fell to 0.1% in the second quarter, down from a 1.3% growth rate in the first quarter.