Technology Report: In Facebook IPO, bankers seek prestige over fees

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	01/27/2012
Good afternoon Bit Apple has never turned "a blind eye" to the problems in its supply chain and any suggestion it does not care about the plight of workers is "patently false," Apple Chief Executive Tim Cook said in an email to employees. Cook was responding to a report in The New York Times about working conditions at Apple's main contract manufacturer, Foxconn, in China, an issue that for years has been a thorn in the company's side. Facebook plans to file documents as early as Wednesday for a highly anticipated IPO that will value the world's largest social network at between $75 billion and $100 billion, the Wall Street Journal cited unidentified sources as saying on Friday. Jon Rubinstein, who was instrumental in crafting Apple's iPod music player, has left Hewlett Packard after two years on the job there. Rubinstein was CEO of smartphone maker Palm when that company was acquired by HP in 2010. He last held a product-innovation role within HP's Personal Systems Group headed by Todd Bradley. Samsung Electronics posted a record $4.7 billion quarterly operating profit, driven by booming smartphone sales, and will spend $22 billion this year to boost production of chips and flat screens to pull further ahead of smaller rivals. LATEST NEWS In Facebook IPO, bankers seek prestige over fees January 27, 2012 03:42 PM ET (Reuters) - Facebook's initial public offering is likely to set a new standard for how low investment banks are willing to go on advisory fees to win big business. | Full Article America Movil to get control of Brazil's Net January 27, 2012 04:52 PM ET MEXICO CITY (Reuters) - Cell phone company America Movil, owned by Mexican tycoon Carlos Slim, said on Friday it had approval from Brazil's telecom watchdog Anatel to take control of cable television company Net Servicos de Comunicacao. | Full Article German court rules against Samsung in suit with Apple January 27, 2012 10:20 AM ET SEOUL (Reuters) - Samsung Electronics Co Ltd said on Friday that a German court has ruled against it in a patent suit with Apple Inc over mobile technology, the latest verdict in an intensifying global legal battle between the two technology giants. | Full Article Ex-Palm chief leaves HP after WebOS move January 27, 2012 01:17 PM ET (Reuters) - Jon Rubinstein, who was instrumental in crafting Apple Inc's iPod music player, has left Hewlett Packard Co after two years on the job there. | Full Article Wall Street cuts losses on late buying January 27, 2012 04:39 PM ET NEW YORK (Reuters) - Stocks trimmed losses to end little changed on Friday, as investors saw dips in the market as an opportunity to buy into what has been a strong first month of 2012. | Full Article BUSINESS NEWS Exclusive: Greek PM Papademos expects debt swap deal in days January 27, 2012 03:27 PM ET ATHENS (Reuters) - Greece expects to conclude difficult debt talks with private creditors within days and negotiations with the EU and the IMF on a new bailout deal by the middle of next week, Prime Minister Lucas Papademos told Reuters on Friday. | Full Article Fitch cuts Italy, Spain, other euro zone ratings January 27, 2012 04:05 PM ET NEW YORK (Reuters) - Fitch downgraded the sovereign credit ratings of Belgium, Cyprus, Italy, Slovenia and Spain on Friday, indicating there was a 1-in-2 chance of further cuts in the next two years. | Full Article Analysis: Banks expect to spend less on bad mortgages January 27, 2012 03:22 PM ET (Reuters) - Even as President Barack Obama is calling for more assistance for struggling mortgage borrowers, major banks are looking forward to spending less to handle problem home loans. | Full Article Exclusive: Germany wants Greece to relinquish budget controls January 27, 2012 03:30 PM ET BERLIN (Reuters) - Germany is pushing for Greece to relinquish control over its budget policy to European institutions as part of discussions over a second rescue package, a European source told Reuters on Friday. | Full Article Growth quickens, but speed bumps ahead January 27, 2012 04:48 PM ET WASHINGTON (Reuters) - The economy grew at its fastest pace in 1-1/2 years in the fourth quarter, but a rebuilding of stocks by businesses and slower business spending warned of weaker growth in early 2012. | Full Article U.S. TOP NEWS Syria violence kills 37, U.N. 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