In The News:
The never-ending story of the US‘s road to recovery hit a bump Friday when the Non-Farm Payroll (NFP) report was released. Highlights from the report were:
- Employment numbers were up to 162,000; unfortunately they were well below the estimates of 184,000.
- Many of the jobs created were in low-wage industries such as retail and restaurants.
- The jobless rate fell to 7.4%, a four and half year low. Don’t let the decrease fool you; most likely this was a result of workers giving up finding a job and dropping out of the labor force.
- May and June’s job numbers were lowered for a combined total of 27,000 lower than originally stated.
The gloves are officially off! Time Warner Cable dropped CBS and its affiliates Friday at 5:00PM EST after the latest round of talks failed. The root of the issue stems from the fee amount Time Warner pays for the ‘privilege’ of carrying CBS programming. Time Warner has already reached out to the roughly three million subscribers affected by the blackout, and has filled the channels vacated by CBS.
Michael Dell and Dell’s board have agreed a buyout deal:
- $13.75 a share and a 13 cent special dividend
- The Special meeting vote will be held on September 12
- The officially “okay” will be defined by a majority of shares actually voting instead of the majority of the total number of shareholder.
What did Carl Icahn, the biggest critic of the deal, think? He tweeted, “we are pleased to have won another battle in the Dell war, but the war itself is far from over.” Icahn later stated that he will continue to vigorously pursue the lawsuit he filed Thursday and reaffirmed his opinion that the new Dell offer substantially undervalues the company.
Apple Legal News:
Apple eBook price fixing
On Friday, the Justice Department proposed guidelines for Apple eBook price-fixing. The governments proposed guidelines would be applicable for the next 10 years and Apple would be required to:
- Terminate the existing agreements with the 5 publishers named in the antitrust lawsuit
- Avoid entering into similar deals for music, movies, TV shows, or games
- Allow Amazon and Barns & Noble’s to insert links for their eBook apps so consumers can compare prices
Apple’s legal team was extremely unhappy with the proposal, and both legal teams are due in court next week to discuss the Justice Department’s recommendations.
Apple vs. Samsung
The patent battle continues! The International Trade Commission (ITC) has delayed its decision on whether or not Samsung infringed on Apple’s patents until August 9. The ruling was originally scheduled for August 2.
In The Markets:
Asian Markets were mixed Monday. China markets were on a roll after the countries official PMI climbed in July. The Nikkei on the other hand lost ground as a stronger Yen hurt exporter stocks.
On Friday, a round of good earnings reports help the European markets close in the green.
US markets eeked out gains on Friday, capping a sixth week of gains despite the worse than expected jobs numbers.
In Dinner or Drink:
Apple Cinnamon-Pumpkin Bar
1 box (15.3 oz) Betty Crocker® Fiber One™ apple cinnamon muffin mix
1/2 cup canned pumpkin (not pumpkin pie mix)
1/2 cup water
1 tablespoon vegetable oil