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Bank of America Corp (NYSE:BAC): A key interest rate for over $500 trillion of securities globally are to be replaced by a benchmark subject to greater government control, according to 45 percent of people responding to a quarterly Bloomberg Global Poll. They stated that the London interbank offered rate, known as Libor, is to be supplanted by a more regulated model within five years, according to Bloomberg.
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Nokia Corporation (NYSE:NOK) intends to launch its Lumia 920 on November 2nd for AT&T (NYSE:T), according to The Verge, citing various sources that are familiar with the company’s plans, it is working with AT&T and Microsoft (NASDAQ:MSFT) for the completion of a number of tests necessary to sign the device off in time.
Intel Corporation (NASDAQ:INTC) cut its Q3 revenue estimate more than expected on Friday because of a decline in demand for its chips as customers lower inventories and businesses buy fewer personal computers. Also, Intel stated that it was scaling back capital spending because of the business slowdown. Intel’s stock saw a 3.6 percent drop, and shares of ASML and other companies that make chip-manufacturing equipment also lost ground.
Sprint Nextel Corporation (NYSE:S): Later today, the FCC will propose a plan for the auctioning off of TV airwaves to wireless carriers, reports The Washington Post, citing an unnamed official familiar with the matter. The carriers are to use the new airwaves to develop faster and more reliable networks, the publication added.
Sirius XM Radio Inc (NASDAQ:SIRI): Last night, Liberty Media filed another document with the SEC listing purchase dates of September 4th and September 5th for additional Sirius XM stock. The filing states that Liberty will purchase another 5.5 million shares. Liberty CEO John Malone has been very open that Liberty wishes to take control of Sirius XM by purchasing enough stock to be the majority shareholder.
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