In The News:
Samsung is close to launching their latest gadget; several reports suggest that it could be a wristwatch, wrist band, or wrist bangle. This week the company submitted applications for both US and South Korean trademarks. In the US filing, Samsung described the new gadget as a wearable digital electronic device with the following features:
- It will have internet access.
- It can send and receive phone calls, emails, and messages.
- It will store and manage personal information.
If you were unable to make purchases from Apple’s istores between 9AM and 11AM PST on Wednesday you are not alone. Apple reported that they had a disruption of service that affected the iPhone App store, iTunes, Mac App Stores, and iBookstore; the issue has since been resolved but if you saw individuals breathing from paper bags during this time they might have been going through Apple product withdrawal.
After a two year legal battle Chesapeake Energy called it quits in their fight with New YorkState. The origins of the battle stem from Chesapeake wanting to retain and extend their natural gas drilling leases under the original terms which were signed before the fracking boom. Since the leases were originally signed numerous states, including New York, have enacted laws to be advocates for the land owners when being contacted by fracking firms. Chesapeake was hoping that by extending the current leases they could get around the new rules in place to help the common man and increase their bottom line. Kudos to New YorkState for digging in and fighting for the underdog.
Yahoo’s logo is getting a makeover! To commemorate the occasion Yahoo will display a variations of the new logo, one per day, as a lead up event to the unveiling ceremony on September 4th 9PM PST.
Wells Fargo and American Express announced Wednesday that they are teaming up to create a new credit card loyalty program for Wells Fargo customers. Beta testers will start using the cards and loyalty program in the third quarter; if all goes well the program and cards will officially launch sometime during the first half of 2014 and will be accepted in the American Express global merchant network.
In June, consumer borrowing levels rose $13.8 billion dollars; setting a new record at $2.85 trillion. The largest increases were for automobile purchases and student loans. .
In The Markets:
Asian markets were mixed on Wednesday as investors juggled better export/import numbers out of China and jitters over inflation number released tomorrow.
Europe continued its losing streak on Wednesday after the BOE (Bank of England) pledged to keep its benchmark interest rates and bond purchase program unchanged until the countries jobless rate falls to 7%. Investors were disappointed in the stance because the target date for 7% unemployment is 2016.
Another day of the same chatter from the Fed spooked investors causing the string of down days for the US markets to hit three. DJIA: -48.07 15470.67 S&P: -6.46 1690.91 NASDAQ: -11.76 3654.01
In Dinner or Drink:
3 oz Stoli® Ohranj vodka
1 1/2 ozfreshly squeezed orange juice
1 1/2 oz soda water
Serve on ice in a highball glass.
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