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May 10

Daily news rundown

  • Australia’s Federal Budget was announcedSMH’s coverageGittins on the budget (video)
  • David Cameron is UK’s new PM – Lib Dems form coalition with Tories – Nick Clegg is Deputy PM – 5 Lib Dems get cabinet posts
  • JPMorgan, Citigroup and BOA join GS in recording trading quarters without any down days – in 61 trading days
  • Verizon rumored to be backing an Android-based tablet – combined with rumors that Verizon will stock a CDMA iPhone by the end of the year, and you have an interesting situation (what does Apple think?) Link
  • AT&T has been bringing forward iPhone upgrade eligibility dates to 6/21 – corroborates a June launch of the 4th gen iPhone. Link
  • MSFT’s Project Natal console probably launching in October – looks very cool. Link
  • CRM company Lithium acquires Scout Labs – rumored $20-25m in stock and cash
  • Mozilla CEO John Lilly leaving to join VC firm Greylock Partners – remains a director
  • Fenwick IP partner Michael Blum joins Quantcast as GC
  • KKR raising $500m in share sale
  • Mizuho planning to raise $8.7b – in common shares to meet increased capital requirements – Mizuho is Japan’s 2nd largest bank by assets
  • Gold futures hit record high of $1232.50/oz
  • Aussie banks in $400m class action lawsuit against them – relating to $5b in "exception" fees like late payment fees (I think the legal argument will be that the fees are penalties and therefore contractually unenforceable). Link
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