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21Aug

Progress in UAE BlackBerry Talks

Posted by admin as Business

Hopes are rising that the United Arab Emirates will reach agreement with Research in Motion to allow services to continue on BlackBerry phones in the Gulf state.
The UAE says that it will block access to BlackBerry messenger, e-mail and browser services from October 11 unless the authorities are given the ability to intercept communications made through the handsets.
Officials have been holding talks with Canadian company, and the UAE’s ambassador to the US said that the negotiations were making good progress.

The chief executive of Potash-Corp stands to make at least 370m if BHP Billiton succeeds in taking over the company for $130 a share and possibly more if market expectations of a rising offer price prove accurate.
Chief executive—Bill Doyle, has ammased ordinary shares and options that are worth $372 million at BHP Billiton’s opening bid. Company policy states that in the event of change of control all outstanding non-exercisable options granted to the executive become exercisable, implying that he would receive a lump sum immediately. Besides, Mr Doyle stands to receive three years of salary and the average of the past three years’ bonuses.
Without a change in ownership, Mr Dole’s stock options are exercisable in allotments that run from movember to may 2017.

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19Aug

Fed Shift Aims to Avert Rate Rise

Posted by admin as Market

A fundamental problem was undoubtedly gnawing at Federal Reserve officials as they gathered on Tuesday for a highly consequential policy meeting.
Before the big shift announced at the end of that meetin, the US central bank’s stance was that mortgage-backed securities held on its balance sheet would be simply allowed to mature, implying a small amount of monetary tightening over the next few years.
However, members of the federal open market committee were growing ever more concerned tht this policy was not in line with their own economic outlook.