Newspaper wrap-up: Google's plans for cellphone delayed
Posted Jun 23rd 2008 8:47AM by Laurie Pasternack
Filed under: Newspapers, Magazines, Google (GOOG), Citigroup Inc. (C), Goldman Sachs Group (GS)
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MAJOR PAPERS:
- Last November, Google Inc (NASDAQ: GOOG) and 30 partners were said be developing a new type of handset using Android that was expected to revolutionize the industry. The first new phones were expected to be available in this year's second half but are now slated for the fourth quarter the Wall Street Journal reported.
- According to people familiar with the situation, the Wall Street Journal reported that Citigroup Incorporated (NYSE: C) will make sharp cuts in its investment banking division this week.
- The Wall Street Journal reported that Live Nation Inc's (NYSE: LYV) Chairman, Michael Cohl, stepped down down as a director and executive to end the strategy feud with CEO Michael Rapino. over how to pursue the "360 deals" with music superstars.
- The Financial Times reported that there are worries that investment banks will accelerate the pace of their layoffs this summer, after it became known that The Goldman Sachs Group Inc (NYSE: GS) gave pink slips to workers in its investment banking division last week. Goldman is now expected to lay off up to 10% of the workers at the division.
OTHER PAPERS:
- New Jersey put its $150M center for stem cell research on hold, the Star Ledger reported, eight months after ground was broken on the project.
Tags: Android, C, Citigroup, citigroup inc., citigroup inc. c, CitigroupInc., CitigroupInc.C, Goldman Sachs, GoldmanSachs, GOOG, Google, Google phone, GooglePhone, GS, layoffs, Live Nation, LiveNation, LYV, Michael Cohl, Michael Rapino, MichaelCohl, MichaelRapino, stem cell, stem cell research, stem cells, StemCell, StemCellResearch, StemCells
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