20120701-181900.jpgGood morning

The headlines:

  1. The Democrats are ready to cruise over the cliff.

    Link: well that sounds more like it.

    The Democrats say they’re ready. If the Republicans won’t budge on the higher taxes on higher earners, then the Democrats say “let’s roll”.

    Obama has said that he’ll veto any bill to extend the tax cuts for rich Americans*.

    The Republicans, on the other side, seem willing to let them take the stand.

    So either it’s all political bluffing, or everyone will cruise past January 1 and over the edge.

    Economic chicken – they’re playing it.

    *He FINALLY takes a stand.

  2. Blackberry 10 to roll out in January.

    Link: too late?

    That’s the plan. They’re not sure when in January, or where in January, or how long it will take to get to all the continents/countries**, because the CEO doesn’t “know the specifics”.

    Luckily though, CEO Thorsten Heins is “working around the clock” to sort a euphemistic “transition”.

    That’s almost more of a clich√© than the blackberry white screen.

    Anyway – after days of “the share price fell by a further 5% today”, the share price fell by a further 5%.

    Fade to black.

  3. Diamond accused of lying.

    Link: how egregious.

    Now that Barclays Chairman Marcus Agius and Bank of England Deputy Governor Paul Tucker have done the honourable thing and testified before Parliament about the Libor story, we’re beginning to note some, um, discrepancies in Mr Diamond’s three hour speech last week.

    Last week, Diamond said that the regulators were happy with Barclays. This week, Agius said that relations with the regulators were “strained” and presented a letter to prove it.

    Now Diamond is all “this is ruining my reputation”.

    You’re right, Mr Diamond – it’s this disputed fact and not the whole Libor-fixing lark that’s ruining your reputation.

    I can’t wait for him to be hauled back to re-testify. Another three hours of quips and humour-attempts falling on even sterner ears.

  4. Galaxy Nexus back on sale.

    Link: that didn’t take long.

    Samsung has convinced a judge to lift the ban.

    Must be after a UK judge ruled that Samsung couldn’t have infringed the iPad patent with the Galaxy Tab because the iPad is so much cooler.

    I kid you not.

  5. Nigeria’s new oil refineries.

    Link: Vulcan to the rescue.

    A $4.5 billion deal has been signed for the construction of six oil refineries.

    It’s desperately needed – I am still amazed by the fact that Nigeria, with all its oil production, doesn’t have enough refinery capacity to meet its domestic requirements.

    This will hopefully change that.

That’s all for now.

Have a good day.