Technology Report: Wall Street leaps as traders eye "Santa" rally

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	12/20/2011
Good afternoon Bit Deutsche Telekom may be forced into a tie-up of its sub-scale U.S. wireless unit with Sprint Nextel after a $39 billion deal with AT&T collapsed. AT&T said on Monday it had dropped its bid for T-Mobile USA, bowing to fierce regulatory opposition and leaving both companies scrambling for alternatives. The collapse of AT&T's deal to buy D.Telekom's U.S. wireless unit may be welcome news for network equipment makers, as money earmarked for the merger will be freed up for investments. Research In Motion's woes continued as sales in the United States fell for a fifth straight quarter in Q3 even as the BlackBerry maker's overall revenue jumped by $1 billion from a year earlier, a regulatory filing released on Tuesday showed. Financial advisers in the U.S. are seeing fewer benefits from their use of social media, a survey by Aite Group showed on Tuesday. "Social media has been over-hyped and the benefits just aren't there for a lot of advisers," said Aite senior analyst Ron Shevlin in an interview. Electronic Arts invested more money and firepower into "Star Wars: The Old Republic" than it has on any game in its 30-year history. Starting today, the company will find out if the bet pays off. If it succeeds, the game, which features the Star Wars movies' familiar Jedis, Wookies, and Siths, could bring EA riches for years to come. If it fails, EA's earning will be hurt in future quarters. Erik Sherman of MoneyWatch takes a look at the many legal battles Apple is waging to protect the iPhone from it's competitors. Finally, Bloomberg's Dan Levy has a behind the scenes look at Facebook's new Silicon Valley headquarters and how other internet firms are designing office space for workers who are increasingly spending more time at the office. LATEST NEWS Wall Street leaps as traders eye "Santa" rally December 20, 2011 03:00 PM ET NEW YORK (REUTERS) - Stocks surged on Tuesday on signs of easing stress in Europe's bond markets as well as some positive economic data at home and abroad and as traders eyed a seasonal "Santa" rally into year end. | Full Article Jump in housing starts points to recovery December 20, 2011 02:56 PM ET WASHINGTON (Reuters) - Housing starts and building permits jumped to a 1-1/2 year high in November as demand for rental apartments rose, suggesting the housing market was entering a tentative recovery. | Full Article Exclusive: An inside look at David Einhorn's "big short" December 20, 2011 01:05 PM ET (Reuters) - Hedge fund manager David Einhorn is taking an even harder line against Green Mountain Coffee Roasters , his big short trade, claiming a recent audit committee review of the accounting issues he flagged is nothing more than a "whitewash." | Full Article Fed releases bank capital, liquidity proposals December 20, 2011 02:08 PM ET WASHINGTON (Reuters) - The Federal Reserve proposed on Tuesday new capital and liquidity rules for the largest banks that would roll out in two phases and not likely go further than international standards. | Full Article Greece close to bond swap deal: finance minister December 20, 2011 12:26 PM ET ATHENS (Reuters) - Greek finance minister Evangelos Venizelos was hopeful on Tuesday of at last reaching the deal with private sector bondholders that is key to a new bailout package for the country. | Full Article BUSINESS NEWS Payroll tax cut trapped in partisan battle December 20, 2011 02:55 PM ET WASHINGTON (Reuters) - A stand-off in Congress over extending payroll tax cuts deepened on Tuesday, raising the risk that 160 million U.S. workers could see a hit to their income next month. | Full Article In mourning, hermit kingdom North Korea seals itself off December 20, 2011 02:57 PM ET DANDONG, China/WASHINGTON (Reuters) - North Korea was in seclusion on Tuesday, a day after it announced the death of its leader Kim Jong-il, as concern mounted over what would happen next in the deeply secretive nation that is trying to build a nuclear arsenal. | Full Article Spain borrowing costs dive December 20, 2011 02:14 PM ET MADRID (Reuters) - Short-term financing costs for euro zone struggler Spain more than halved on Tuesday as banks lapped up debt at an auction, with much of the purchasing power said to come from cut-rate money to be lent by the European Central Bank. | Full Article U.S. general returns from Iraq with Baghdad flag December 20, 2011 02:34 PM ET WASHINGTON (Reuters) - The last commander of U.S. forces in Iraq returns to the United States on Tuesday carrying the command flag that flew over Baghdad. | Full Article Iraqi Sunni leaders denounce PM Maliki December 20, 2011 01:37 PM ET BAGHDAD (Reuters) - The Iraqi vice president accused of running death squads hit back at the prime minister on Tuesday in a sectarian feud that risks wrecking Iraq's fragile balance of power, just days after U.S. troops finally withdrew. | Full Article U.S. TOP NEWS California sperm donor at odds with federal regulators Disgraced duke's figure moved in Madrid wax museum British sprinter raises 2012 sponsorship on eBay RELATED VIDEO Saudi prince buys Twitter stake New video surveillance system tags, tracks and follows Diving deep - New sub on sale for scientists and the super-rich A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. 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