20120809-075350.jpgGood morning

The headlines:

  1. Standard Chartered probe “requires” $700 million?

    Link: oh – they mean the fine. But THIS article says $5.5 billion.

    Here’s a picture of the last few days of StanChart’s share price:

    I almost want to give yesterday a round of applause.

    A settlement of $700 million would be around the same amount that HSBC has set aside for its money-laundering crisis.

    The $5.5 billion that everyone is talking about is coming from a London analyst: who’s talking about gross impact (a $1.5 billion fine; a $3 billion loss of market value when all the CEOs, CFOs and COOs quit à la Barclays; and the loss of $1 billion when they are forced to suspend their Iranian operations).

    That figure is a bit confusing though – from what I understand, Standard Chartered has already pulled out of Iran altogether?

  2. Greece gets another negative credit rating outlook.

    Link: this is no longer news.

    If you’re at CCC, the only place to go down from there is D. Being Default. So the market, as read by S&P, is feeling a bit like Greece is not going to get the next round of financing.

  3. Facebook finally reveals a mobile-ad service.

    Link: but it looks like we’re only talking about mobile apps?

    Something about a mobile app tool that allows software developers to encourage users to install their apps?

    My question: are facebook trying to sell advertising or apps? Because, well, if my phone can use apps – then I’m going to buy them off the Apple App Store if I have an iPhone, or download it free if I use Android.

    Here’s another look at Facebook embarassing itself:

  4. Telkom gets an antitrust fine.

    Link: $55 million for five years of monopoly – sounds like a good deal.

    The amount is about a seventh of what the Competition Commission was look for.

    On the brave assumption that the Competition Commission had actually worked out the super-normal profit that Telkom had made by exercising its monopolistic whims, this means that Telkom has actually won.

    An antitrust fine is only a fine if you end up losing money. Anything less than that is just a cost of doing business.

That’s all for now.

Have a good day.