Friday, November 11, 2011
Archive for the ‘News’ Category
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Gold futures may add to their recent gains in the week ahead, with favorable technical indicators underpinning the rally. Autochartist identified a breakout on the 30-minute chart which carries an upward bias from the current price. The projection is consistent with the overall trend higher after overcoming short term resistance.
Last week’s rising price action propelled gold out of a well-defined Triangle chart pattern, generating an Autochartist forecast target which has not yet been achieved. The pattern scores high across all of the internal readings, with solid Clarity and Initial Trend readings giving it an overall Quality ranking of 7 bars. Lacking in the momentum department however, the follow-through of the initial move has been noticeably weak. The initial breach of the top of resistance was met with modest selling pressure that caused a minor retracement back below the breakout point.
A resurgence of buying interest this week would confirm the rally and imply a move to the projected price range of $1,754 to $1,764 per ounce. If reached, a new trading range may develop at those levels. Failure for the market to push higher from Friday’s settlement would place the price back inside the Triangle chart pattern. This could result in one more test of support near $1,740 per ounce as the pattern continues to develop in a broader range.
In either case, the support level drawn by Autochartist appears to be a major low on the chart, and should be watched closely as a potential springboard for the market. A failure of this level with a move below $1,735 would signal a technical failure of the uptrend and could result in a steep sell-off, making this a pivotal technical threshold in the near term.
Hypo Venture Capital Headlines : Commodities markets summary
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A summary of trading in key commodities markets overseas:
ENERGY
World oil prices fell Friday as investors took profits from bumper gains made during a week that saw the promise of a comprehensive plan to rescue the eurozone.
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New York’s main oil contract, light sweet crude for delivery in December, slipped 64 US cents to $US93.32 a barrel.
Brent North Sea crude for December lost $US2.17 to $US109.91.
The New York price was still well above the $US86.31 close of a week before, after encouraging news on growth in China and the United States, and Thursday’s EU pact, fed expectations of firm demand.
Brent though was only slightly higher than the previous Friday’s $US109.54 as the gap between the two benchmarks appeared to be narrowing.
Prices continued to benefit from the stronger euro, which rebounded sharply against the dollar this week with the news of the eurozone deal.
PRECIOUS METALS
Gold edged lower on profit taking a day after a deal to contain the euro zone debt crisis triggered a broad rise in equities and commodities, but gold posted its biggest weekly rise since January 2009.
Spot gold finished at $US1,743.10 per ounce, almost even with where it ended the previous session at $US1,743.95. It retreated from a one-month high of $US1,751.99 to spend most of the session modestly lower.
Tuesday, August 30, 2011
Hypo Venture Capital: Hypo Venture Capital Zurich Headlines:Obama sees C...
Hypo Venture Capital: Hypo Venture Capital Zurich Headlines:Obama sees C...: http://hypoventurecapital-research.com/2011/05/hypo-venture-capital-zurich-headlinesobama-sees-china-as-a-partner-in-mars-mission/ WASHING...
Hypo Venture Capital Zurich Headlines:Obama sees China as
http://hypoventurecapital-research.com/2011/05/hypo-venture-capital-zurich-headlinesobama-sees-china-as-a-partner-in-mars-mission/
WASHINGTON — U.S. President Barack Obama views China as a potential partner for an eventual human mission to Mars that would be difficult for any single nation to undertake, a senior White House official told lawmakers.Testifying May 4 before the House Appropriations subcommittee on commerce, justice and science, White House science adviser John Holdren said near-term engagement with China in civil space will help lay the groundwork for any such future endeavor. He prefaced his remarks with the assertion that human exploration of Mars is a long-term proposition and that any discussion of cooperating with Beijing on such an effort is speculative.
“(What) the president has deemed worth discussing with the Chinese and others is that when the time comes for humans to visit Mars, it’s going to be an extremely expensive proposition and the question is whether it will really make sense — at the time that we’re ready to do that — to do it as one nation rather than to do it in concert,” Holdren said in response to a question from Rep. Frank Wolf, R-Va., a staunch China critic who chairs the powerful subcommittee that oversees NASA spending.
Holdren, who said NASA could also benefit from cooperating with China on detection and tracking of orbital debris, stressed that any U.S. collaboration with Beijing in manned spaceflight would depend on future Sino-U.S. relations.
“But many of us, including the president, including myself, including (NASA Administrator Charles) Bolden, believe that it’s not too soon to have preliminary conversations about what involving China in that sort of cooperation might entail,” Holdren said. “If China is going to be, by 2030, the biggest economy in the world … it could certainly be to our benefit to share the costs of such an expensive venture with them and with others.”
Wolf, who characterizes China’s government as “fundamentally evil,” said it is outrageous that the Obama administration would have close ties with Beijing’s space program, which is believed to be run primarily by the People’s Liberation Army, or PLA.
“When you say you want to work in concert, it’s almost like you’re talking about Norway or England or something like that,” an irate Wolf told Holdren, repeatedly pounding a hand against the table top in front of him. “As long as I have breath in me, we will talk about this, we will deal with this issue, whether it be a Republican administration or a Democrat administration, it is fundamentally immoral.”
Holdren said he admired Wolf’s leadership in calling attention to China’s human-rights record, but noted that even when then-U.S. President Ronald Reagan referred to the former Soviet Union as “the evil empire” in the late 1980s, he continued to cooperate with the communist bloc in science and technology if doing so was deemed in the U.S. national interest.
“The efforts we are undertaking to do things together with China in science and technology are very carefully crafted to be efforts that are in our own national interest,” Holdren said. “That does not mean that we admire the Chinese government; that does not mean we are blind to the human rights abuses.”
Holdren said that as White House science adviser, his capacity to influence the president’s diplomatic approach to Beijing is limited.
“I am not the person who’s going to be whispering in the president’s ear on what our stance toward China should be, government to government, except in the domain where I have the responsibility for helping the president judge whether particular activities in science and technology are in our national interest or not,” Holdren said.
Recently enacted legislation prohibits U.S. government collaboration with the Chinese in areas funded by Wolf’s subcommittee, whose jurisdiction also includes the U.S. Commerce and Justice departments, the National Science Foundation and the National Institute of Standards and Technology.
When asked how he interpreted the new law, part of a continuing resolution approved in April that funds federal agencies through Sept. 30, Holdren said the administration will live within the terms of the prohibition.
“I am instructed, after consultation with counsel, who in turn consulted with appropriate people in the Department of Justice, that that language should not be read as prohibiting actions that are part of the president’s constitutional authority to conduct negotiations,” Holdren said. “At the same time there are obviously a variety of aspects of that prohibition that very much apply and we’ll be looking at that on a case by case basis in (the White House Office of Science and Technology Policy) to be sure we are compliant.”
Rep. John Culberson, R-Texas, who joined Wolf last fall in opposing an official visit to Beijing by Bolden, accused Holdren and the White House of plotting to circumvent the law.
“It’s not ambiguous, it’s not confusing, but you just stated to the chairman of this committee that you and the administration have already embarked on a policy to evade and avoid this very specific and unambiguous requirement of law if in your opinion it is in furtherance of negotiation of a treaty,” Culberson said. “That’s exactly what you just said. I don’t want to hear about you not being a lawyer.”
Holdren said a variety of opinions and legal documents indicate the president has exclusive constitutional authority to determine the time, scope and objectives of international negotiations and discussions, as well as the authority to determine the preferred agents who will represent the United States in those exchanges.
Culberson reminded Holdren that the administration’s civil research and development funding flows through Wolf’s subcommittee, and that funding could be choked off if the White House fails to comply with the law.
“Your office cannot participate, nor can NASA, in any way, in any type of policy, program, order or contract of any kind with China or any Chinese-owned company,” Culberson said. “If you or anyone in your office, or anyone at NASA participates, collaborates or coordinates in any way with China or a Chinese-owned company … you’re in violation of this statute, and frankly you’re endangering your funding. You’ve got a huge problem on your hands. Huge.”
Hypo Venture Capital: Hypo Venture Capital Zurich Headlines: Apple, Noki...
Hypo Venture Capital: Hypo Venture Capital Zurich Headlines: Apple, Noki...: http://hypoventurecapital-research.com/ Following Google’s purchase of Motorola, a new report claims that Apple is still interested in ac...
Hypo Venture Capital: Hypo Venture Capital Zurich Headlines: Raising Cap...
Hypo Venture Capital: Hypo Venture Capital Zurich Headlines: Raising Cap...: http://hypoventurecapital-research.com/2011/07/hypo-venture-capital-zurich-headlines-hacker-pleads-guilty-to-att-ipad-breach/ I’ve been h...
Hypo Venture Capital Zurich Headlines: Apple, Nokia show continued interest in InterDigital patents
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Following Google’s purchase of Motorola, a new report claims that Apple is still interested in acquiring InterDigital, as are Nokia, Qualcomm and others in the wireless industry.
Citing sources familiar with the situation, Reuters reported Wednesday that “several companies” are “pondering bids” for wireless telecom specialist InterDigital Inc. The forthcoming auction of the company will be postponed from next week until sometime after Labor Day.
More time is necessary because potential bidders have reportedly asked for more times to analyze the company’s patents. Companies in the wireless industry are interested in securing those inventions as patent infringement lawsuits involving all of the major industry players continue to mount.
Sources also reportedly said it’s unknown whether Google will remain in pursuit of the InterDigital patents. The search giant was previously named as a potential bidder, but the announcement that it will buy Motorola for $12.5 billion may have changed those plans.
Apple was first named as a likely bidder on InterDigital in July. The company has 1,300 patents related to wireless device technologies that would be of prime interest to any smartphone maker.
The industry-wide desire for patents was predicted to drive up the price of InterDigital by as much as 50 percent. But shares of the company dropped on Monday following the news that Google will buy Motorola, as investors are now less certain that Google will make a play for the InterDigital portfolio.
Hypo Venture Capital Zurich Headlines: Raising Capital? 3 Tips for Entrepreneurs
http://hypoventurecapital-research.com/2011/07/hypo-venture-capital-zurich-headlines-hacker-pleads-guilty-to-att-ipad-breach/
I’ve been helping entrepreneurs raise capital as a securities lawyer for more than 17 years, and there are certain fundamental mistakes that I’ve seen entrepreneurs make over and over again. Accordingly, I thought it would be helpful to share three basic tips for entrepreneurs in connection with raising capital.
Tip #1: Only Offer and/or Sell Securities to “Accredited Investors”. As a general rule, a company may not offer or sell its securities unless (i) the securities have been registered with the Securities and Exchange Commission (SEC) and registered/qualified with applicable state commissions; or (ii) there is an applicable exemption from registration. The most common exemption for startups is the so-called “private placement” exemption under section 4(2) of the Securities Act of 1933 and/or Regulation D, the safe harbor promulgated thereunder.
The rule of thumb in connection with private placements is only to offer and sell securities to “accredited investors” under SEC Rule 506. There are two significant reasons for this: First, Rule 506 preempts state-law registration requirements — which means, in general, that the company merely must file a Form D notice with the applicable state commissioners (together with the SEC) and pay a filing fee; and second, there is no prescribed written disclosure requirement under Rule 506.
There are eight categories of investors under the current definition of “accredited investor” — the most significant of which is an individual who has (i) a net worth (or joint net worth with his/her spouse) that exceeds $1 million at the time of the purchase (not including the value of their primary residence) or (ii) income exceeding $200,000 in each of the two most recent years (or joint income with a spouse exceeding $300,000 for those years) and a reasonable expectation of such income level in the current year. (Note that this definition is currently under review by the SEC and must be reviewed by the SEC every four years pursuant to the Dodd-Frank Act.)
If a company offers or sells securities to non-accredited investors, it opens a Pandora’s box of compliance and disclosure issues, under both federal and state securities law. Yes, there are ways for entrepreneurs to sell securities to non-accredited investors under SEC Rules 504 and 505 (and perhaps other exemptions), but it often requires that specific disclosure requirements be met and registration/qualification under applicable state law, both of which are very time consuming and costly.
Tip #2: Do Not Use an Unregistered Finder to Sell Securities. Entrepreneurs often make the mistake of retaining unregistered finders (commonly referred to as consultants, financial advisors or investment bankers) to raise capital for their companies. The problem is that finders must be registered with the SEC if they are operating as a “broker-dealer,” which is broadly defined under the Securities Exchange Act of 1934 to mean “any person engaged in the business of effecting transactions in securities for the account of others.”
If the finder is receiving some form of commission or transaction-based compensation (which is usually the case) the finder will generally be deemed a broker-dealer and thus will be required to be registered with the SEC and applicable state commissions. If the finder is not registered as required and sells securities on behalf of a company, the private placement will be invalid (i.e., it will not be exempt from registration) and the company will have violated applicable securities laws — and thus could be subject to serious adverse consequences, as discussed below.
(Note that the Form D filed with the SEC and applicable state commissions requires disclosure of the identities of all finders engaged in the offering of securities of the company.)
Tip #3: Diligence the Investors. The most common mistake I have seen entrepreneurs make in any dealmaking context, including fundraising, is the failure to investigate the guys (or gals) on the other side of the table. Indeed, this is more a business tip than a legal one; but it is critical.
Remember: if you’re going out and raising funds, you will, in effect, be married to your investors for a number of years. Accordingly, at a minimum, the entrepreneur should get references and speak with other entrepreneurs and CEOs who have raised funds from the investors in order to make an informed judgment as to whether the particular investor is an appropriate individual with whom the entrepreneur should be partnering.
Issues to consider include: Has the investor done investments like this before? If so, how many and what role did he play? Can the investor be counted on and trusted? Will the investor add significant value (e.g., through his contacts, technical expertise, etc.)? What is the investor’s motivation to invest? Is the investor a good guy or a jerk? Sadly, there are a lot of bad apples out there, and entrepreneurs need to be very careful whom they allow to invest in their companies.
Conclusion. Non-compliance with applicable securities laws could result in serious adverse consequences, including a right of rescission for the security holders (i.e., the right to get their money back) injunctive relief, fines and penalties and possible criminal prosecution. That being said, no matter how many times I advise otherwise, there are always a handful of entrepreneurs who decide they don’t want to pay legal fees to comply with securities laws and they handle the issuance themselves. In a word: imprudent.
Monday, August 22, 2011
Hypo Venture Capital: Hypo Venture Capital Headlines: Fake collar bomb m...
Hypo Venture Capital: Hypo Venture Capital Headlines: Fake collar bomb m...: http://hypoventurecapital-headlines.com/ The two-page hand-written note, which contained no demands for money but instructions for 18-yea...
Hypo Venture Capital: Hypo Venture Capital Zurich Headlines: Economic su...
Hypo Venture Capital: Hypo Venture Capital Zurich Headlines: Economic su...: http://hypoventurecapital-headlines.com/category/financial/ The FINANCIAL — Zurich, July 21, 2011 According to the latest Credit Suisse Z...
Hypo Venture Capital Headlines: Fake collar bomb mystery deepens as Australian police focus on note
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The two-page hand-written note, which contained no demands for money but instructions for 18-year-old Madeleine Pulver to contact the perpetrator via the internet, was signed Dirk Struan.
Police said the note was the most crucial piece of evidence being used by investigators to track down the culprit. They were also examining a USB stick left inside the fake bomb.
Struan is the lead character in James Clavell’s book about a wealthy and violent businessman who is bent on destroying his rivals.
He is described as a “pirate, an opium smuggler, a master manipulator of men, a ruthless intriguer and a mighty lover.”
In the book, which police hope will shed light on the identity of the man behind the bizarre attack on Miss Pulver, Struan and his business rival Tyler Brock use extortion, threats and violence in an attempt to get the better of each other.
In one chapter, an extortion threat is made against Straun and a price is put on the heads of his wife and daughter.
Struan’s character, while ruthless, is portrayed as tough and resourceful.
Throughout the book Straun fights to protect his family and his trading company, Noble House. He eventually dies in a typhoon before he can fulfil his mission to destroy Block.
The book was made into a film in 1986 starring Australian actor Bryan Brown.
Clavell reportedly based the character on 19th Century Scottish doctor and merchant William Jardine who co-founded a Hong Kong conglomerate.
Jardine was considered one of the most powerful men in Britain at the time.
The use of Straun’s name by the intruder who chained the fake bomb to Miss Pulver was revealed as it emerged that neighbours may have spotted the man making his getaway.
A driver working for champion racehorse owner Gai Waterhouse, who lives on the exclusive Mosman street where the incident took place, reportedly saw a man running from the Pulver house moments before police swarmed the property.
The Sydney Daily Telegraph said a source close to the Waterhouse family spoke to officers saying Waterhouse and her driver saw a woman “driving up and down the street looking nervous”.
The driver later saw a man run from the vicinity of the Pulver house and jump into the car before it drove off “at significant speed.”
Hypo Venture Capital Zurich Headlines: Economic survey by Credit Suisse in cooperation with the Centre for European Economic Research (ZEW)
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The FINANCIAL — Zurich, July 21, 2011 According to the latest Credit Suisse ZEW Indicator, economic expectations for Switzerland have diminished significantly.The indicator plunged by 34.6 points to the -58.9-point mark in July, thus reaching its lowest level since the beginning of 2009. The indicator for the assessment of the current economic situation also recorded a sharp drop, falling by 17.4 points to the 52.9-point threshold. The respective balances for inflation as well as interest rate expectations also registered much lower readings in July. The indicator for the inflation outlook decreased by 27.0 points, with merely 23.5% of the financial market experts surveyed predicting that inflation rates will advance in the coming six months. The balance for expectations regarding the short-term interest rate environment lost ground by 30.5 points to the 18.2-point level. At the same time, however, a greater share (55.9%, up 15.4 percentage points) of analysts in this month’s survey anticipate that the Swiss franc will lose terrain versus the euro in the coming half-year.
The Credit Suisse ZEW Indicator of economic expectations recorded the most pronounced decline in July since September 2009. The indicator plummeted by 34.6 points to reach the -58.9 point mark – the lowest level in two-and-a-half years. Merely a tiny minority of 2.9% of the financial market experts surveyed anticipate that economic momentum will improve in the coming six months. In contrast, a clear majority of 61.8% of respondents (+29.4 percentage points) now foresee a deterioration of the economic situation. A share of 35.3% (-24.2 percentage points) of the analysts expect the economy to exhibit a stable trend at the present levels.
The diminishing economic expectations already seen in recent months have been tempered, up to now, by a very upbeat assessment of the current economic situation. In July, however, the prevailing evaluation has deteriorated as well. The relevant balance has declined by 17.4 points, and only around half (52.9%) of the survey participants still view the economic picture in a “good” light. A proportion of 47.1% (+17.4 percentage points) of the experts regard the economic environment as “normal,” while none of the respondents believes that the economy is in a “bad” state of health at the present time.
The inflation outlook diminished more noticeably in July than in the previous months. The share of analysts who predict that inflation rates will climb on a six-month horizon amounts to just 23.5% (compared with 40.5% in June). On the other hand, 23.5% of the participants (+10.0 percentage points) forecast that inflation will retreat in the next half-year. Slightly more than half of the respondents (53.0%) assume that the inflation rate will continue to hover at the current low levels.
The indicator for the short-term interest rate expectations fell sharply by 30.5 points to the 18.2-point mark in July. The share of respondents who expect interest rates to advance in the coming six months dropped by 24.1 percentage points to 27.3%. Meanwhile, 63.6% (+17.7 percentage points) of the experts think that the short-term interest rate environment will remain unchanged within this timeframe.
Following an improvement of 14.8 points in the previous month, the balance of expectations for the trend of the Swiss stock market (SMI) has now lost ground by more than double the amount of points (down 31.1 points) to the 38.3 level.
On the heels of the strong appreciation of the Swiss franc exhibited in July, the financial market experts surveyed anticipate that the currency will rather trend on towards the weaker side again. In particular, the indicator for the Swiss franc exchange rate versus the euro dipped by 7.1 points to -20.6 points this month.
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