Financial News 7/30/12 – Apple vs. Samsung, HSBC Scandal, Olympic Games 2012


Financial News 7/30/12 – Apple vs. Samsung, HSBC Scandal, Olympic Games 2012

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    Billions upon billions of dollars are at stake in the high profile patent trial of our century, as jury selection begins today, to decide whether indeed Apple’s product is cooler than Samsung’s. Apple is desperately trying to prove, that Samsung is violating all different kinds of its intellectual property, while Samsung’s counter argument, that that Apple is only trying to stop its competition from cutting a nice slice of the consumer electronics market pie, for itself. You see Apple wants the whole pie and eat it too. Stay tuned for more updates.

    We were waiting patiently in our seats to find out who in the banking industry will be next to confess its sins, and the lucky taker is HSBC! British bank HSBC, Europe’s biggest bank, was forced to apologize to its investors for its failure to meet compliance regulations, by wrongly selling loan insurance to individuals and interest rate hedging products to small businesses. But, most importantly it is also accused of engaging in money laundering for Mexican drug lords. – Ah who cares where the money is coming from as long as it’s coming! – HSBC is of course ashamed and embarrassed and swiftly set aside a total of 2bn dollars to cover the upcoming fines, although rumor has it that HSBC may have to dish out, way more than that. Oh and let’s not forget that they are also one of the banks under investigation for the LIBOR rigging activities.

    Following an absolutely stunning and eye watering Olympic Games 2012 Opening Ceremony, brought to you by the one and only Danny Boyle, the Olympic Stadium is suffering from empty seats syndrome, at some of the most popular games! It is mainly seats that are reserved by default for athletes families, officials, sports federations, journalists etc that often remained, without an occupant..sooooo.the issue is now being fixed by selling more tickets to the public! In other news from the Olympics: Team USA so far brings 3 Gold Medals home: Ryan Lochte for the 400 Individual Medley. Kim Rhode brings Gold for skeet shooting and Dana Vollmer for 100M butterfly. Well done USA.

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