Business Today: Microsoft swallows Nokia's phone business for $7.2 billion

	Click to View in Browser 09/3/2013 Microsoft swallows Nokia's phone business for $7.2 billion HELSINKI/SEATTLE (Reuters) - Microsoft Corp will buy Nokia's phone business and license its patents for 5.44 billion euros ($7.2 billion), a bold foray into mobile devices that also brings potential chief executive contender Stephen Elop back into the fold. Job growth numbers may rise, cementing Fed tapering WASHINGTON (Reuters) - U.S. employers likely stepped up hiring in August, potentially paving the way for the Federal Reserve to start cutting back its gigantic bond purchases program later this month. Wall St. up but rally fizzles on support for Syria strike NEW YORK (Reuters) - Stocks rose on Tuesday but were far off session highs after top Republicans voiced support for U.S. President Barack Obama's call for military strikes against Syria. Nokia's grip on patents offers revenue potential after Microsoft deal SAN FRANCISCO (Reuters) - Nokia may have sold its handset business to Microsoft but by hanging on to its valuable patent portfolio, the Finnish company can try to boost royalties by sueing Android phone makers, or unload the patents in a future deal. New iPhone expected as Apple asks media to September 10 event SAN FRANCISCO (Reuters) - Apple Inc on Tuesday sent official invitations to a September 10 event at which it is expected to unveil the latest version of the iPhone, possibly in colors other than its trademark black and white. S&P calls U.S. lawsuit retaliation for stripping 'AAA' rating (Reuters) - Standard & Poor's on Tuesday blasted a $5 billion fraud lawsuit by the U.S. government as retaliation for its 2011 decision to strip the country of its "AAA" credit rating. Wells Fargo hires advisers from UBS, Morgan Stanley (Reuters) - Wells Fargo & Co's U.S. brokerage has expanded its private client group with veteran advisers from rival firms Morgan Stanley Wealth Management and UBS Wealth Management Americas. Morgan Stanley must pay ex-trader $8 million in flap over firing: panel (Reuters) - Two Morgan Stanley units must pay $8 million to a former energy trader, who said the firms improperly terminated him for cause, after he declined to meet with New York law enforcement authorities during an investigation, arbitrators ruled. Timing of bullish Nokia options trades raises questions (Reuters) - A flurry of bullish bets on Nokia just before markets closed on Friday are in line to pay off handsomely as a result of Microsoft's move to buy the Finnish company's handset business, and has once again raised questions about suspicious timing of such trades. Bumper Vodafone sale to help UK stocks LONDON (Reuters) - Shares in other telecoms companies, stocks with high dividends and firms eyeing share sales may all get a boost when UK-focused fund managers redeploy cash from Vodafone's sale of Verizon Wireless. Related Video Breakingviews: Microsoft's mobile chains Microsoft firms up hardware strategy Economic News Job growth numbers may rise, cementing Fed tapering U.S. manufacturing, construction data suggest growth pickup A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today   The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today   » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2010 Thomson Reuters Ensure delivery of Reuters Newsmails, add mail@nl.reuters.com to your address book. Details Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook Forward to a friend