Financial News 7/3/12 – Bob Diamond resigns, Microsoft loses Bing, Adele, Katie Holmes


Financial News 7/3/12 – Bob Diamond resigns, Microsoft loses Bing, Adele, Katie Holmes

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    Another head rolled at Barclay’s over the interest rate rigging scandal, Chief Executive Bob Diamond, resigned today succumbing to the pressure put on him by politicians. The resignation did come as a bit of a surprise, with Bob Diamond having previously stated that he is the only one capable of leading Barclay’s out of this mess. A parliamentary inquiry has been launched, and Bob will be appearing in front of a parliamentary committee to explains his bank’s doings. Rumor has it that some people at the bank got confused and thought that they actually had permission, to manipulate the Libor submissions. Wow – can’t wait to hear how that panned out! May justice prevail and those responsible be punished.
    You know that search engine called Bing? Yes that same one which bombarded us with ads of how amazing it is, and we still never used? Yeah so Microsoft officially admitted, that we never used it, and is now booking a 6.2 billion dollar charge, for its unprofitable internet division, of which Bing was a major driving force. Microsoft was desperately trying to compete with Google, but we humans really are animals of habit aren’t we. Not surprisingly Microsoft did not manage to bring in enough online ad revenue as Google does/. According to Wall Street predictions, this would put a dent in Microsoft’s profit for its fiscal fourth quarter results.
    So a New York judge, did in the end order Twitter to reveal and hand over tweets and the account information of an Occupy Wall Street protester, who was arrested during a march on the Brooklyn bridge last fall. Judge Matthew Sciarrino ruled, that Twitter would not be violating protester Malcom Harris’ privacy, by handing over his tweets. In the judge’s opinion tweeting equals to the same as screaming out of your window, and that you should not be expecting any privacy when doing so. According to Twitter spokesperson Carolyn Penner, the company is disappointed with this decision and has long maintained, that Tweeple (i.e. people who use Twitter) own their content, and are protected under privacy laws. Be careful what you tweet tweeple!
    Huge and wonderful news from the world of entertainment! Our beautiful and extremely talented Adele is expecting a child, from her boyfriend, and it is also rumored, that he is expected to pop the question shortly. Adele we can’t wait to hear he wedding bells ring for you! Oh and also rumor has it, that Katie Holmes has finally come to her senses…I am pretty sure a lot of us have long been waiting for this. Apparently Tom and the Church have filed for full custody of Suri. Once again may justice and common sense prevail. Even Rupert Murdoch, seems to be confused by Scientology – to say it mildly! And you know that means a lot.

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