Financial News 7/19/12 – Syria, Bulgaria Terrorist Attack, Morgan Stanley, Samsung Win


Financial News 7/19/12 – Syria, Bulgaria Terrorist Attack, Morgan Stanley, Samsung Win

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    Following the bomb attack, that killed President Bashar al Assad’s brother in law, Asef Shawkat, Syria’s defense minister – Gen Daoud Rajiha, and Assistant to the vice-president and head of crisis management office – Gen Hassan Turkomani. Syrian troops have now been mobilized to drive the rebels out of their activity zones in the Damascus. The international community is putting more pressure on President Bashar al-Assad to step down from his post as president. Russian however maintains that some countries fueled the opposition rather than calming things down. It is currently unknown where President Bashar Al Assad is located, nor has he made any statements concerning the bomb attack and his apparent loss of control.

    Sad news came yesterday from Bulgaria, where 6 Israeli tourists, were killed yesterday, in a suicide bomb attack. The Israeli tourists had just arrived at the airport and boarded the bus, to take them to their hotel at the Bulgarian Black Sea resort city of Burgas, when the suicide bomber boarded a bus and detonated himself. The suspect was carrying fake US papers. Images of the suspect have been caught on security cameras and have been released by Bulgarian authorities, who are now trying to establish the man’s identity. Israel is accusing Iran and Hezbollah for the attack, which both parties are denying. Our thoughts are with the families who lost their loved ones in yet another senseless, brainwashing, propaganda fueled attack. In fact today our thoughts are with everyone who suffered at the hand of any extremist world views.
    In the financial world all eyes are on Morgan Stanley’s CEO James Gorman, as the company’s profit falls by 50% on revenue declines across multiple sectors based on declining client activity. Moody’s two point down grade from A2 to Baa1, is not helping matters either. The consequence of this downgrade could manifest in a $6.3 billion collateral requirement for the compant, and as a result of missed analysts’ predictions, the company’s shares fell 4.8% in premarket trade.
    In recent news from Apple versus Samsung, Apple has been ordered by a court ruling, to publish a statement on its UK website and British Newspapers, saying, that Samsung did not copy the design of Apple’s iPad. Apple is to keep that statement on its website for 6 months, and publish it in newspapers and magazines to correct any impression that Smasung may be copying its product. Judge Colin Birss ruled, that it would be difficult to confuse Samsung tablet with the Apple iPad, because Samsung tablets are simply not “as cool” – and those were his exact words apparently. I don’t think Samsung should be too offended by the judge’s opinion, though, especially now, that they are getting a free ad of its tablet, right there on Apple’s website! Well played Samsung. Well played!

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