Three HUGE news stories on a Thursday night!
Google has just sold its Motorola handset unit to Lenovo for $2.9 billion, making it Lenovo’s second deal in a week (first one being IBM’s server unit for $2.3 billion). Also, the Federal Reserve announced that it will further cut down bond purchases by $10 billion, making it $65 billion. In the midst of this, Argentina’s peso, South Africa’s rand and Turkey’s lira have been tumbling dramatically although recently there was a short-lived surge in Asian stock markets.
Finally as Malaysian Airlines (MAS) glorifies cabin crew standards despite suspension of its flights to Los Angeles to stem losses, the airline company sees healthy revenue as a codeshare agreement involving Japan Airlines (JAL) was just signed.
*A codeshare agreement is an arrangement where two airlines can use different codes for the same flight. One may sell the tickets, the other may operate the flights.