The Closer | FT Alphaville

The Closer


- Advice for Larry Summers if becomes Fed chair: shift.

- More on the new seductiveness of capital controls.

- Chart of the day, Microsoft-Nokia edition.

- Outflows in gold ETFs surge as traders bolt.

- Who will prosper in the new world?


Investors cast doubt on Microsoft deal: “Microsoft ran into a wall of scepticism on Tuesday over its belated jump to compete against Apple and Samsung in the smartphone business with a €5.4bn deal to buy Nokia’s handset operations and license the Finnish company’s patents. The deal also seals the eclipse of one of Europe’s leading technology champions, ending Nokia’s three decade-long attempt to build a consumer brand that saw it become the world’s biggest manufacturer of mobile handsets, but which also brought it to the edge of financial ruin. ” (Financial Times)

Vodafone deal concerns weigh on Verizon share price: “Senior executives at Verizon Communications have dismissed suggestions that the company’s stock could be depressed in the wake of the US group’s $130bn deal to buy Vodafone’s 45 per cent stake in Verizon Wireless. Shares in Verizon, which did not trade on Monday because of the Labor day holiday, were trading 2.9 per cent lower in early afternoon trading on Tuesday – in part, analysts said, because of overhang risks on the stock. Vodafone shares fell 5 per cent at 202.5p.” (Financial Times)