Morning Market Roundup: Yahoo’s Board Continues to Shuffle, Amazon’s Big Deal
- Posted on February 8, 2012 at 10:16am by
Becket Adams
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Here’s what’s important in the financial world this morning:
EU: The European Central Bank will make major concessions for Greece through an agreement to exchange its government bonds, previously purchased in the secondary market, at a price below face value as opposed to the full amount, according to The Wall Street Journal.
This may decrease Greece’s debt by up to €11 billion, even though EU central banks will not participate. Meanwhile, Greece’s private creditors will take large haircuts on their holdings.
Furthermore, Germany reported its December exports dove 4.3 percent after seeing a 2.6 percent increase in November. This was far worse than the -1 percent estimate. December’s decline is the greatest drop since January 2009. With the country’s recent declining industrial output numbers, it is a looking like a recession at the euro zone core.
Tech: Nokia will cut an additional 4,000 jobs at its Finland, Hungary and Mexico plants as it moves its smartphone assembly work to Asia. The company said the cuts will occur in phases throughout the year. Under Nokia Chief Executive Officer Stephen Elop, he has cut more than 30,000 jobs.
Amazon.com Inc. could announce a Web video deal with Viacom Inc this week, according to Reuters. This could serve as a independent subscription service that would compete with Netflix Inc. Neither company has commented on it but last week, Viacom’s Chief Executive Philippe Dauman hinted to analysts about the online video deal but declined to name the partner.
Boardroom changes continue at Yahoo! Inc. Chairman Roy Bostock and three other directors will step down as two new directors have been elected. The changes come after Yahoo’s board has faced criticisms for falling behind Google and Facebook and the naming of the company’s new CEO, Scott Thompson.
[Editor’s note: the above is a cross post that originally appeared on Wall St. Cheat Sheet.]
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lukerw
Posted on February 8, 2012 at 11:37amAnyone need… Greek Wall Paper?
Report Post »garyM
Posted on February 8, 2012 at 11:24amFrom last night’s Santorum big win, it is evident there is a strong anti-Romney population out there. How anyone thinks Romney has a snowballs chance to beat Obama is beyond me. I was pleased to see Santorum win his 4th state while Romney has bought 3 states so far with millions of dollars in negative advertising. I sure would like to see Beck cover his favorite candidate Santorum but I find only one story on the Blaze even saying Santorum won and it’s on the back page!
Report Post »UBETHECHANGE
Posted on February 8, 2012 at 11:00amI got this message when I try to open several stories here on the blaze: Not Found
The requested URL /stories/pictures-surface-of-a-sniper-nest-at-the-super-bowl-are-they-real/ was not found on this server.
VoxCAST Server at http://www.theblaze.com Port 80
Please fix blaze!
Report Post »Thevoice
Posted on February 8, 2012 at 10:56amReading the EU paragraph…. Haircut….Guess that counts as journalism today. I realize this was not written by the Blaze.. But again .The who. (Ben and Obama funneling money) What ( our sovereignty) where ( to corrupt Mafia run European banks) when ( starting months ago, and keep them afloat till now) why. (because “New age progressive communists will do what ever is necessary to prove state control works)…
Report Post »garyM
Posted on February 8, 2012 at 10:49amOff Topic. I was looking for the GO SANTORUM stories. I had to go back to older pages to find even one title saying Santorum won last night. What’s the deal Blaze. It is evident that a big part of the nation has rejected Romney as a candidate, much less a nominee!
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