Morgan Stanley cuts Google on margin worries

 

file photo of google incs logo

 Morgan Stanley downgraded Google Inc a notch to "equal-weight," saying the search giant's margins will shrink as it undertakes aggressive hiring and ramps up advertising for new products.

"Given Google's aggressive hiring plans, rising compensation expense, and significant advertising spend on Chrome and other Google products, we expect EBITDA margin to decline in 2011 and 2012," Morgan Stanley analyst Scott Devitt said in a note.
 
Devitt also raised doubts over the ability of the company's newer businesses, such as DoubleClick, Android Market and YouTube, to add to its revenues.

"We see lots of promise from Google's display/mobile/apps businesses, but we believe the consensus incorrectly attributes upside to those businesses and therefore may be overestimating their contribution in future periods," said the analyst, who slashed his target price on the company's stock to $600 from $645.

Shares of the company were down 2.5 percent at $533.12 in morning trading on Nasdaq. They earlier touched a low of $531.24.

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Web giants promote new IP system

The biggest ever test of the internet's new address system is taking place. Google, Yahoo, Microsoft Bing and Facebook are among the companies switching-on IPv6 versions of their websites for the one day trial.  the technology is gradually being introduced because the world is running out of older IPv4 addresses as more devices come online. Companies and home users may need new networking equipment, however the transition is likely to take years. World IPv6 day is partly a technical exercise by internet companies to see how the technology works, and partly an awareness-raising initiative. For the small percentage of users already set up to access IPv6, they will be able to connect through the usual URLs - such as Google.com or Yahoo.com. Behind the scenes, their browsers will be pointed to the new, much longer IP address. New equipment Groups involved in IPv6 day say that everyone will have to make the change eventually, but users should not worry at this stage if they are not switched over. "This is not a year 2000 thing. Planes are not going to start falling out of the sky," said Philip Sheldrake, a board member at non-profit group 6UK, which is helping to promote the system. "The web will continue to work, but future growth would be stymied. It is just like when we used up the phone numbers in London." For users with an ordinary domestic internet connection, the changeover may involve upgrading their hardware. "A lot of routers at the moment are already capable of supporting IPv6. What they need is a firmware update," "ISPs should ship new routers or offer those updates. We are making sure all our fibre routers are ready for IPv6." Mr Fletcher said that the long term nature of the changeover meant that customers of most ISPs would receive compatible equipment through the natural cycle of upgrades. The business end Becoming IPv6 compatible is a slightly more complicated task for corporate internet users. Bringing their systems up to standard will typically involve investing in and installing new networking systems. As with home users, for many this will form part of the normal cycle of upgrading and replacing. However, the lack of any firm deadline, combined with the hefty price tag, means that some are dragging their heels. "Corporates are probably quite far behind," said Sebastien Lahtinen from Thinkbroadband.com. "They are trying to put off the expense and there are a lot of technologies that they can use to do that." However, Mr Lahtinen said that the leaders of those businesses should realise that this change was going to happen and that they needed to make the investment. Even though IPv4 will continue working for at least the next decade, there is value in changing early according to Philip Sheldrake. "You have to make the transition. It is better to do that sooner than later because it demonstrates that you are a modern, well organised company that is visible on the modern infrastructure of the internet." REALLY BIG NUMBERS IPv4 was conceived in the early 1980s as a way of identifying individual connections to a computer network. It is typically made up of 32 bits, written as 12 digits, e.g. 112.233.189.123. That gives a maximum of around 4.3bn addresses. However, the rapid growth in PCs, smartphones and other internet connected devices means those addresses are close to being used up, with an estimated 80 million still to be allocated. IPv6 is a 128bit system, written in hexadecimal (base 16 counting using numbers and letters), e.g. 21DA:00D3:0000:2F3B:02AA:00FF:FE28:9C5A. The system gives a maximum of 340 undecillion possible addresses (1 undecillion = 10 followed by 35 zeros in the British numbering system). The additional capacity, argue proponents of IPv6, will be needed to cater to the so-called "internet of things" where devices such as TVs, fridges and home heating systems are connected to the net. \

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Al Qaeda leader Ilyas Kashmiri planned new death squad to avenge bin Laden

Al-Qaeda's chief military commander was plotting a new terrorist group called Lashkar-e-Osama to launch a wave of revenge suicide attacks when he was reportedly killed in a drone strike last week, Pakistani officials have claimed.

Ilyas Kashmiri Photo: REUTERS

 

 

Ilyas Kashmiri had convened a meeting of militant leaders to discuss hitting foreign embassies and also trying to poison Nato food supplies en route to Afghanistan to avenge the death of Osama bin Laden.

The plans were disclosed as distrust between Washington and Islamabad still surrounded Kashmiri's reported death on June 3.

US officials said their working assumption was that he remained alive despite assurances from Pakistan.

His new squad had plans to target the American, Saudi and Emirati embassies in Pakistan, according to reports.

Kashmiri called Pakistani Taliban commanders, including Asmatullah Maavia, Amjad Farooqui and Badar Mansoor to the meeting in North Waziristan a few days before he was reportedly killed.

They discussed blowing up the American embassy, assassinating visiting Chinese dignitaries and targeting the country's biggest munitions factory in Wah.
Auto rickshaws laden with explosives were suggested as one means of carrying out the attacks.
Large quantities of poison would also be procured to contaminate Nato food supplies passing through Pakistan on their way to troops in Afghanistan, the 
Kashmiri had a $5 million (£3 million) bounty on his head and been leader of Harakat-ul-Jihad al-Islam (HUJI) before forming the feared 313 militant brigade.
He was thought to take his orders directly from bin Laden.
Rehman Malik, Pakistan's interior minister, said he could confirm "100 per cent", that Kashmiri had died when a Predator drone fired three missiles into a house in South Waziristan as he and associates drank tea in the garden.
However, US officials have been unable to confirm the death.
One said: "It wouldn't be the first time that reports of his death have been wrong. We're simply unable at this time to confirm reports of Kashmiri's demise. Our working assumption is that he's still walking around."

 

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Pakistan Leaders Must Make Choice After Clinton’s Warning: View

Illustration by Bloomberg View

By the Editors Jun 2, 2011 6:29 AM GMT+0600 0 Comments

• 
  

When U.S. Secretary of State Hillary Clinton visited Pakistan last week, she noted that U.S.- Pakistani relations were at a turning point after the killing of Osama bin Laden. It was up to the Pakistanis, she said, to decide “what kind of country they wish to live in.”
The brutalized body of investigative journalist Syed Saleem Shahzad, which turned up outside of Islamabad on May 31, may provide a clue to the answer.
Shahzad disappeared after publishing the first of two promised articles linking elements of the Pakistan navy to al- Qaeda following a deadly May 22 attack on a Karachi naval station. Last fall, after being questioned about a different story by Pakistan’s Directorate for Inter-Services Intelligence (ISI), Shahzad wrote that he was threatened by the spy agency.
Alternatively, it could be that foul play like Shahzad’s murder will become a thing of the past in Pakistan. While in Islamabad May 27, Clinton and Chairman of the Joint Chiefs of Staff Admiral Mike Mullen demanded authorities take “decisive steps” to crush the violent extremists the government has long supported, which would end the need to intimidate journalists who expose that support. Whichever way the Pakistan government goes, the May warnings by the U.S. ought to be the last.
The U.S. administration has continued to insist, as President Barack Obama did in a May 22 interview with the BBC, that the Pakistanis have “generally been significant and serious partners against the terrorist threat to the West.” This simply isn’t the case.

Victim, Sponsor

For much of the past decade, Pakistan has been both a victim and a sponsor of Islamic militants. Its soldiers are fighting bravely against homegrown terrorists seeking to install an Islamic government. In 20 attacks in May, these radicals killed some 150 people.
At the same time, the Pakistani army, led by General Ashfaq Parvez Kayani, is a longstanding patron of violent groups targeting Afghanistan and India. Guided by excessive fear bordering on paranoia about India, Pakistan’s military and intelligence services believe that nurturing those extremists is an effective way to frustrate India’s regional ambitions. The ISI largely created and continues to support the Taliban and the Haqqani Network, the principal groups battling U.S. forces in Afghanistan and the fledgling government in Kabul. It also backs Lashkar-e-Taiba, the group responsible for the 2008 attacks in Mumbai that killed more than 160 people.

Double-Dealing

President George W. Bush’s administration tried to end this double-dealing by giving Pakistan billions in economic and military assistance. Yet Bush didn’t make the aid contingent on a crackdown on extremists. The Pakistanis cooperated somewhat with U.S. efforts to dismantle al-Qaeda but refused to act against other groups, including the Afghan Taliban, which was given refuge inside Pakistan’s borders.
The Obama administration accelerated the failed Bush policy, substantially increasing military and economic assistance, again without imposing rigorous conditions. And Pakistan continued to ignore administration warnings about continued support for extremists.
In one incident reported by the Washington Post, Obama’s first national security adviser, James Jones, warned officials in Islamabad that there would be “consequences” if a terrorist attack directed at the U.S. was traced to Pakistan. Yet when a man who had trained at a terrorist camp in that country attempted to detonate a car bomb in Times Square in May 2010, the U.S. administration did nothing. Shortly thereafter, Obama watered down Jones’s words, telling Kayani that a “successful” attack would have consequences.

Meaning Business

So when U.S. authorities learned that Osama bin Laden might be housed in a villa in a Pakistani garrison town, they dispatched Navy Seals to capture or kill him without so much as notifying the Pakistanis in advance. The raid provoked great outrage from officials in Pakistan. Since then, emotions have cooled. Clinton and Mullen have delivered their warnings, public and private. And this time, the Americans may mean business.
Will the Pakistanis respond?
Shahzad’s murder is a bad sign. On the other hand, reports from Pakistani tribal leaders suggest that the Pakistani army may be preparing a serious campaign in North Waziristan, where the leaders of the Haqqani Network and other extremist groups live.
It will soon be clear whether Clinton’s latest message got through. If not, the administration must consider new ways to persuade Pakistan to change course, recognizing that the country is behaving more like an adversary than a partner

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Col Gaddafi 'emphatic' he will not leave Libya

Colonel Gaddafi is 'emphatic' he will not leave Libya, despite Nato airstrikes and concern about his 'personal safety', South Africa's President Jacob Zuma said after returning from a peace mission to the country.

Nato gave special permission to Jacob Zuma to fly into Tripoli Photo: EPA/Ntswe Mokoena

By Richard Spencer, Tripoli and Aislinn Laing

6:21PM BST 31 May 2011

Despite claims that Mr Zuma might seek to negotiate an exit strategy, his statement focused on a demand for agreed ceasefire throughout Nato.

"(Col Gaddafi) expressed his anger at the Nato bombings, which have claimed the lives of his son and grandchildren and continue to cause a destruction of property and disruption of life," the statement said.

"He emphasised that he was not prepared to leave his country, despite the difficulties."

Libyan government spokesman Moussa Ibrahim said on that the meeting did not discuss 'exit strategies'.

Mr Zuma "never discussed any exit strategies as they have been described in the media," said Moussa Ibrahim, government spokeman at a news conference on Tuesday night.

Mr Zuma became the first outsider to see Col Gaddafi in person since May 11, meeting him in his home and seeing the bombed building where the regime says his son Saif al-Arab and three grandchildren were killed in April.
In state television pictures, Col Gaddafi seemed well and, contrary to some rumours, uninjured by the bombing raids.
Nato gave special permission to Mr Zuma to fly into Tripoli, along with a heavily armed support group, to present an African Union "road map" for peace. But his efforts were immediately dismissed by the rebels, who have demanded that Col Gaddafi step down before any negotiations take place.
Despite denials that South Africa was working on an exit strategy for Col Gaddafi, it was reported that senior Libyan officials had engaged the services of a local law firm to defend him should he be brought before the International Criminal Court at The Hague.
Langa Attorneys is alleged to have negotiated a "mandate agreement" to protect the Libyan leader's interests three weeks ago.
Meanwhile, residents of an east Tripoli suburb confirmed yesterday that Monday had seen the largest anti-regime protest in the capital since the beginning of March.
One resident of the suburb, Souq al-Juma'a, said that 1,000 people had gathered at the funeral of two men killed in a shoot-out with police at a check-point the day before. Footage posted to Youtube showed a crowd chanting anti-Gaddafi slogans.
He said there were regular shootings in the night. "Everyone in Souq al-Juma'a is against Gaddafi," he said. "People paint slogans on the walls but they get painted over."

   

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Gayle and Vettori sink Mumbai Indians

The Hindu Daniel Vettori and Virat Kohli of Royal Challengers Bangalore celebrate the wicket of K.Pollard of Mumbai Indians at the M.A.Chidambaram Stadium in Chennai. Photo: K. Pichumani

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IPL 2011
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First, the explosive Chris Gayle delivered the big hits. Then, the crafty Daniel Vettori operated with control and guile to provide Royal Challengers Bangalore an emphatic 43-run win over Mumbai Indians in the second qualifier of the Indian Premier League IV at the M.A. Chidambaram Stadium here on Friday night.

Sachin Tendulkar's decision to field boomeranged. There was greater spin for the bowlers in the second half of the contest.

Pursuing a daunting 186, Mumbai Indians finished at a tame 142 for eight. The chasing side was outplayed.

RCB will meet holder Chennai Super Kings in the summit clash on Saturday. The face-off has immense possibilities.

Predatory

Vettori's men were predatory on the field against the side from Mumbai. RCB combined as a mean pack, created the pressure and seized the opportunities.

And the side struck early when aggressive left-hander Aiden Blizzard was held at long-on off efficient left-arm paceman S. Aravind. Pinch-hitter Harbhajan Singh too was prised out by Aravind soon after.

Sachin Tendulkar, though, was stroking with grace and timing. The gaps were found with precision.

In a game and format where one can expect the unexpected, unsung left-arm spinner Syed Mohammad got a quicker delivery to turn sharply past Tendulkar and ‘keeper Abraham de Villiers whipped off the bails. The maestro had been stumped.

Mumbai Indians lost ground rapidly with RCB skipper Vettori operating in a manner that was classical. The accomplished left-arm spinner deceived and consumed Rohit Sharma with his flight and loop. In the same over, Vettori got one to fatally drift into Ambatti Rayudu.

And when the big-hitting Kieron Pollard was spectacularly held by Abhimanyu Mithun at long-off — the fielder did extremely well to retain balance so close to the ropes — off Vettori, the game was going to end only one way.

RCB closed out the match in clinical fashion.

High-octane

Earlier, Man-of-the-Match Gayle was high on octane and low on sympathy for the bowlers. The left-hander is making all the right moves these days.

The ease with which he wades into the bowling is stunning. He picks the length early, creates room with subtle footwork and simply strikes through the line.

Gayle imparts so much power that even in the event of the ball not being timed to his liking, it still soars over the fence for the maximum.

Importantly, Gayle's batting is bereft of exaggerated movements. The feature of his rousing 47-ball 89 (9x4, 5x6) was the manner in which he essayed booming inside-out strokes on the off-side.

His easy, natural back-swing too is a thing of beauty and Gayle's sixes over the sight-screen took one's breath away. While he sought to get on to the front-foot, the manner in which he shifted his weight to the back-leg for those destructive pull shots reflected his flexibility.

Lasith Malinga fired in a yorker and Gayle swatted him to the fence. In the face-off between two game-changers, the West Indian found the right answers.

Mayank Agarwal (41 off 31 balls) played his role well in an imposing 113-run opening partnership in 10.4 overs.

Gayle and Agarwal also combined cleverly as a pair. It was Agarwal who took strike during much of Harbhajan's first two overs with the new ball —the Mumbai Indians wanted the off-spinner to operate more to the left-handed Gayle.

Agarwal whipped out a few vibrant strokes himself; none more than a straight six off Harbhajan after he danced down the track to convert the length.

Ordinary

The Mumbai Indians' catching was ordinary and Agarwal was put down twice; the first miss by Malinga at deep square-leg when the batsman was on 19 proved costly. Harbhajan was the bowler to suffer.

Gayle eventually fell to Munaf Patel —he was picked up at long on. But by then, the West Indian had inflicted considerable damage.

The side from Mumbai fought back. The young Abu Nechim — the paceman went for 27 runs in the opening over of the match — took out Virat Kohli on the pull.

But then, the nimble-footed Abraham de Villiers conjured a cameo in the end overs and Mumbai Indians had a mountain to climb.

And the side slipped.

Scorecard

Royal Challengers Bangalore: M. Agarwal c Rohit b Pollard 41 (31b, 4x4, 2x6), C. Gayle c Franklin b Patel 89 (47b, 9x4, 5x6), V. Kohli b Nechim 8 (12b), A.B. de Villiers (not out) 21, (15b, 1x6), L. Pomersbach c Malinga b Patel 4 (4b), S. Tiwary (not out) 8 (12b), Extras (w-13, nb-1): 14; Total (for four wkts. In 20 overs): 185.

Fall of wickets: 1-113, 2-148, 3-151, 4-157.

Mumbai Indians bowling: Abu Nechim 4-0-56-1, Harbhajan 4-0-40-0, Malinga 4-0-24-0, Munaf 4-0-27-2, Rohit 1-0-14-0, Pollard 3-0-24-1.

Mumbai Indians: A. Blizzard c Agarwal b Aravind 10 (11b, 2x4), S. Tendulkar st. de Villiers b Syed Mohammed 40 (24b, 7x4), Harbhajan Singh c Pomersbach b Aravind 13 (7b, 1x4, 1x6), Rohit Sharma c Pomersbach b Vettori 13 (15b, 1x4), J. Franklin b Khan 16 (17b, 1x6), A. Rayudu lbw b Vettori 0 (1b), K. Pollard c Mithun b Vettori 3 (6b), R. Sathish (not out) 18 (21b, 1x4), L. Malinga c Pomersbach b Syed Mohammed 7 (5b, 1x6), Abu Nechim (not out) 18 (13b, 1x4, 1x6), Extras (lb-2, w-2): 4; Total (for eight wkts. in 20 overs): 142.

Fall of wickets: 1-23, 2-41, 3-68, 4-82, 5-83, 6-89, 7-99, 8-110.

Royal Challengers Bangalore bowling: Khan 4-0-32-1, Aravind 3-0-27-2, Gayle 3-0-11-0, Mithun 2-0-26-0, Vettori 4-0-19-3, Syed Mohammed 4-0-25-2.

Man-of-the-match: Chris Gayle

Keywords: IPL 2011

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