Despite Money Tap Dent, Ripple (XRP) Buy Wave is Strong

Image result for Despite Money Tap Dent, Ripple (XRP) Buy Wave is StrongResona Bank is pulling out of Money Tap initiatives, a project fronted by SBI Group. All the same, prices are stable above 32 cents, reversing from Apr-2 lows and with increasing momentum, may close above 34 cents as bulls shore prices.

Ripple Price Analysis

Fundamentals

At core, Ripple is a network that seeks to provide banks with an alternative messaging and settlement system that is fast, secure and beneficial for the end user. It may be less than a decade in operation, but the team behind the platform are putting forth powerful solutions that invert interest, prioritizing the consumer via incentives as speed and costs.

Although the native currency in XRP is bogged down by uncertainty, the SEC framework clarifying what an investment contract is from a utility would shed some light, allowing payment processors as well as banks to upgrade to xCurrent 4.0 which has a wriggling ground for banks to incorporate xRapid for their operations.

Latest news is that Resona Bank, one of the few financial institutions that had joined the Money Tapinitiative fronted by SBI Group, is the first to discontinue from this novel arrangement. Ahead of the Tokyo Olympics in 2020, the effort “is a safe, real-time and comfortable app that allows users to transfer money between individuals directly and can deposit money directly from a bank to a bank account 24 hours a day, 365 days a year.

Candlestick Arrangement

Ripple XRP

On to the charts and Ripple (XRP) is reacting from Apr 2 lows of around 32 cents. From an effort versus result point of view, this is bullish and to that end, we expect prices to inch higher as momentum builds up thanks mainly to the correction of undervaluation clear in the 1-HR chart.

Since we now have a long lower wick and prices finding support from Apr-2 trendsetting bull bar, every dip should be a buying opportunity.

Nonetheless and despite our optimism, conservative, risk-off traders must wait for a strong, high-volume press above Apr-5 highs of 38 cents or even 40 cents before loading up. As per our emphasis, our ideal target lies at 40 cents and later 60 cents.

Technical Indicator

Our anchor bar is Apr-2 with 79 million. As aforementioned, any bar breaking above Apr-5 highs signaling trend continuation must be with high volumes exceeding recent averages of 44 million or even 79 million.

[“source=newsbtc”]

Broadcom to Buy Network Gear Maker Brocade for $5.5 Billion

Broadcom to Buy Network Gear Maker Brocade for $5.5 Billion

HIGHLIGHTS

  • Broadcom known for its connectivity chips used in mobiles and servers
  • Broadcom said it planned to sell Brocade’s networking business
  • Company’s top customers include Cisco, Hewlett Packard and Intel

Chipmaker Broadcom Ltd said it would buy Brocade Communications Systems Inc for $5.5 billion (roughly rs. 36,672 crores), pushing deeper into the fast-growing market for network equipment used in data centers.

The deal, the latest in a consolidating chip sector, will allow Broadcom to corner a larger share of the data center products market by using Brocade’s fiber channel switches that speed up data transfer between servers and storage devices.

Singapore-based Broadcom, formerly Avago Technologies, is known for its connectivity chips used in products ranging from mobiles to servers, while California-based Brocade makes networking switches, software and storage products.

“We believe the deal is highly complementary to Broadcom’s existing enterprise storage offerings and boosts its exposure to the high-growth data center market,” CFRA Research Angelo Zino said.

The market for IT infrastructure products is expected to expand rapidly. Total spending on cloud infrastructure, including server, storage and ethernet switches, will increase by 15.5 percent to $37.1 billion in 2016, according to research firm IDC.

Broadcom said it planned to sell Brocade’s networking business, which makes controllers and access points that help businesses offer high-speed internet to their customers, to avoid competing with its top customers such as Cisco.The $12.75 per share offer represents a premium of 46.7 percent to Brocade’s close on Friday.

Brocade’s shares were up 9.5 percent at $12.31, while Broadcom’s stock rose 1.7 percent to $171.73.

Up to Tuesday’s close, Brocade’s shares had gained nearly 30 percent since Bloomberg reported on Monday that the company was in talks to sell itself.

The chip industry has been undergoing rapid consolidation as companies try to capture market share, much of it related to connected devices and cars, and Avago/Broadcom has been one of the sector’s most prolific acquirers.

Since taking over the top job at Avago a decade ago, Chief Executive Hock Tan has turned around a small chipmaker into a giant with a market capitalization of $67 billion.

In the biggest chip deal ever, smartphone chipmaker Qualcomm Inc agreed last week to buy NXP Semiconductors NV for about $38 billion, making it the leading supplier to the fast-growing automotive chips market.

The Qualcomm-NXP deal topped Avago’s $37 billion acquisition of Broadcom Corp last year that formed Broadcom Ltd.

Broadcom’s top customers include Cisco, Hewlett Packard Enterprise and Intel Corp.

A big part of Brocade’s networking business that Broadcom plans to divest was acquired as part of Brocade’s $1.5 billion acquisition of Ruckus Wireless earlier this year. The unit generated $209 million in product revenue in the third quarter.

“I don’t think there will be a lack in buyers for the IP business,” Drexel Hamilton analyst Cody Acree told Reuters, adding that companies such as Cisco, Hewlett Packard Enterprise and some Chinese firms are trying to make headway in the space.

Reuters reported on Tuesday that a Broadcom-Brocade deal was imminent.

Broadcom said it would take on about $400 million of Brocade’s debt and fund the deal with available cash and debt.

Evercore was Brocade’s financial adviser.

© Thomson Reuters 2016

Tags: Braodcom, Brocade, Acquisition, Internet, PC, Laptops, Mobiles, Tablets, Telecom, Home Entertainment
[“Source-Gadgets”]

You can buy a house jointly with someone who is not a relative

iStockPhoto

iStockPhoto

Can I buy a house jointly with my friend?

—Krish Pillai

Yes, you can buy a house with a friend. There is no legal requirement for a person to buy a house only with family members and you can buy it jointly with any other person. You can purchase the property either as ‘joint tenants’ or as ‘tenants in common’.

In the case of a joint tenancy, upon the death of one of you, the interest of the deceased joint-owner in the house will automatically pass to the surviving joint-owner, whereas in the case of ‘tenants in common’, the interest of the deceased tenant will pass to his or her heirs (as per the Will or as per the laws of succession applicable to the deceased at the time of his or her death) and not the surviving tenant in common.

It is, therefore, advisable to clarify the nature of your interest in the property in the sale deed at the time of purchasing the property. In case the house forms part of a co-operative housing society, you should ensure that the bye-laws of the housing society allow you and your friend to purchase the house as tenants in common or joint tenants. You should also consult your tax advisers on the tax implications of such joint purchase and holding, in case any income will be earned by you on the jointly held property.

I am a divorcee and have an eight-year-old son. The house that we lived in is in my ex-husband’s name. Will my son inherit this house?

—Sakshi Khanna

I am assuming for the purpose of answering this query that the consideration for the house in question has been paid fully by your ex-husband and that the house is his self-acquired property and does not form part of a Hindu Undivided Family. Further, I am also assuming that your husband is not governed by Mohammedan personal law and that the house will continue to remain his sole and absolute property at the time of his death.

If your ex-husband dies intestate (i.e., without making a Will), then his estate (including the house in question), will devolve upon his legal heirs, which would include your son.

The share of each of the legal heirs would depend upon the personal law governing your husband at the time of his death, the number of legal heirs and the relationship of the legal heirs with your husband. For example, if your husband was governed by Hindu law, your husband’s mother and if he had remarried, his wife and children from such subsequent marriage would also be entitled to a share in his property. If there are other heirs at the time of your husband’s death, your son’s share in the house would accordingly reduce, depending upon the number of legal heirs and their respective shares.

However, if your husband dies testate, i.e., having made a valid Will, the house would devolve exclusively upon the person(s) mentioned in the Will as the beneficiary of such house, to the exclusion of the other heirs.

[“Source-Livemint”]

When Yahoo Refused to Buy Google for $1 Million

When Yahoo Refused to Buy Google for $1 Million

HIGHLIGHTS

  • Sergey Brin and Larry Page approached Yahoo in 1998
  • They were looking to sell their PageRank system for $1 million
  • In 2002, Google again looked to Yahoo to raise $3 billion in funds

After several futile attempts to revive the company’s old appeal, Yahoo has now announced that it is selling most of its core services to US telecommunications giant Verizon. This marks as the end of an era for a company that once defined the Internet. Yahoo was at its most successful in the 90s, but its failure to keep up with the emerging trends contributed to its downfall. The other major factor that caused this fate was a series of missed opportunities by its executives. In 1998, Google’s Larry Page and Sergey Brin had approached Yahoo, with an opportunity to buy its PageRank system for as little as $1 million. The duo wanted to focus on their studies at Stanford, but Yahoo showed no interest as it wanted users to spend more time on its own platform.

(Also see: 12 Things You Didn’t Know About Yahoo, a Giant That Once Ruled the Internet)

PageRank is an algorithm designed by Brin and Page that ranked websites for the order they are displayed in Google search results. It is named after Larry Page, and is a way of measuring the importance of websites. While PageRank helped in showing up search results of relevant third-party sites based on keywords, Yahoo did not want users to leave their platform at all. It had directories that were designed to answer questions, view email, shop and even play games on its platform – something that seemed to work well for them at that time.

ADVERTISEMENT

(Also see: Verizon Could Boost Yahoo Ad Targeting, but Challenges Ahead)

However, as time progressed the online world soon began to realize the importance of third-party online advertising revenue. Google built its own pay-per click service called AdWords back then, and is now the key reason for Google’s rags to riches story. In 2002, Brin and Page went to Yahoo once again, this time to raise funds worth $3 billion. However, then Yahoo Chief Terry Semel refused the offer as it looked to again build its own search engine to compete with Google. Yahoo acquired search engine Inktomi and ad revenue maker Overture in its mission to build the search engine that would topple Google.

However, Yahoo failed miserably in execution, and fell to its own demise. While Yahoo’s absorption into Verizon’s AOL Internet business is now the new reality, Semel and his board of directors must surely lament all the wrong and over-ambitious decisions they made in the past. If Yahoo had agreed on the deal with Google co-owners in its nascent days, Yahoo’s fate would possibly hold a different story.

Google aka Alphabet is now one of the world’s most valuable companies, with its worth nearing $500 billion. In comparison, the latest deal reveals that Yahoo’s core business was worth just $4.83 billion.

Tags: Business, Google, PageRank, Sergey Brin, Terry Semel, Verizon, Verizon Buys Yahoo, Yahoo, Yahoo Acquisition

 

[“Source-Gadgets”]