This week Reuters reported S&P 500 held near a four-year high and the “fear index” at a five year low as “hopeful signs appeared in the latest batch of economic reports“. Today’s weekend WSJ said “Americans are gaining confidence in the nation’s economy, a new report Friday said, but remain wary that threats could wipe out recent modest progress after three years of fitful recovery.”
Tech gossip and news for the week…
- NY Times reported Google laid off 4000 employees from its recently purchased Motorola Mobility unit. They will also close over 90 offices world-wide and significantly reduce the product line. Now that they own the patents, Google now has an unprofitable company they must deal with.
- Bloomberg reported IBM expressed interest in buying RIM.
- Cisco reported a 56% rise in net income in the fiscal fourth quarter.
- NIST is set to release a draft of a new encryption standard.