Google’s Motorola Auction Deadline, Facebook Under Tax Scrutiny in Italy: Tech Business Roundup

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

According to inside sources, Google (NASDAQ:GOOG) has set Friday the 7th as the deadline for the final round of bids in the auction for Motorola’s set-top box division as the company continues downsize the hardware unit. However, the same sources said that the deadline could be extended. Expected bidders include the cable-equipment maker Arris Group (NASDAQ:ARRS) along with private-equity firms.

Catalysts are critical to discovering winning stocks. Check out our newest CHEAT SHEET stock picks now.

Facebook (NASDAQ:FB) is under scrutiny in Italy as to whether it has regularly declared its income there, according to the firm on Friday. Italian police have been conducting checks at the the company’s Milano offices and Italian officials have accelerated  their endeavors to collect taxes in recent months. An investigative source said that tax officials first went to the offices almost a month ago to collect documents. For its part, the company said in an emailed statement that, “Facebook pays taxes in Italy as part of its business activity in the country and strictly complies with Italy’s fiscal rules.”

China Unicom Limited (NYSE:CHU) has recorded in excess of 200,000 reservations for the iPhone 5 (NASDAQ:AAPL), reaching that level in only two days and doubling the 100,000 posted on the first day. Additionally, Unicom says that it will offer a full subsidy for the handset, but only with a minimum deposit of around $947 US for a 16-gigabyte model. That money will be refunded monthly, with the exact credit depending upon the length of the contract. Also available are 32 and 64-gigabyte models, but with higher deposits.

Don’t Miss: China is Making Apple’s Bad Week Worse.


More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business