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Best of the Blogs: Developers Abandoning RIM Over BlackBerry 10 Delay


Plus, Android commands over 50% of operating system market share in the US.

This column highlights the most interesting and useful business and financial commentary from around the Web each day. Use our comments section to post your own suggestions for blog content that you've read or written.

Link: RIM Is Bleeding Developers

"Research In Motion's (RIMM) sad decline is having all manner of ill effects on the company's long-suffering developer community.

"Disillusioned with repeated delays to RIM's next-generation BlackBerry 10 operating system and the company's ebbing smartphone market share in the US, some are throwing up their hands and turning away from the platform.

"To wit, a new survey of developers by Baird Equity Research which finds dev sentiment toward BlackBerry 10 and BlackBerry 7 in general at a new low. Baird surveyed 200 developers culled from a sample set of 4,300 and found that their collective outlook for BlackBerry 10 - charted on a 10-point scale from poor to excellent - had fallen to 3.8 from 4.6 in the previous quarter. Meanwhile, their outlook for the BlackBerry 7 declined to 2.8 from 3.8."

Link: Android Hits 51.8% Market Share In the U.S. [STUDY]

"Android (GOOG) has a bigger US market share than all other mobile operating systems combined, according to a new report by Nielsen.

"Nielsen's research shows that 51.8% of smartphone owners in the US use an Android handset. Apple's iOS (AAPL) has a 34.3% market share, and the rest is divided between RIM's BlackBerry (8.1%) and Microsoft's Windows Mobile (MSFT) and Windows Phone 7 platforms (4.3%).

"Symbian and Palm OS both have less than one percent market share: 0.9% and 0.6%, respectively.

"This is in line with a recent report from comScore, which claimed Android topped 50% market share in February 2012."

Link: JPM Admits CIO Group Consistently Mismarked Hundreds Of Billions In CDS In Effort To Artificially Boost Profits

"Back on May 30 we wrote 'The Second Act Of The JPMorgan (JPM) CIO Fiasco Has Arrived - Mismarking Hundreds Of Billions In Credit Default Swaps' in which we made it abundantly clear that due to the Over The Counter nature of CDS one can easily make up whatever marks one wants in order to boost the P&L impact of a given position, this is precisely what JPMorgan was doing in order to boost its P&L? As of moments ago this too has been proven to be the case.

"[...]As a result of this, regulators who now are only three years behind the curve, are most likely snooping to inquire not only how JPMorgan did it [...], but who else has been doing this? Hint: everyone."

The New York Times: DealBook
Link: Wells Fargo Posts $4.6 Billion Profit, Up 17%

"Wells Fargo (WFC) reported its 10th consecutive quarter of earnings growth as a result of a booming business originating and refinancing mortgages.

"The bank's second-quarter profit was a record $4.6 billion, a 17% rise from the $3.9 billion profit it reported a year earlier. The San Francisco-based company earned $.82 a share, which was more than the $.81 expected by the analysts polled by SNL Financial.

"Wells, with a relatively small presence on Wall Street, has largely skirted the controversies that have engulfed many of its large competitors and helped it pass JPMorgan Chase to become the largest American bank by stock market capitalization."

The Wall Street Journal: Deal Journal
Link: Goldman Sachs Appoints Steven Barg Southeast Asia IBD Co-Head

"Goldman Sachs (GS) has appointed Steven Barg as its co-head of investment banking for Southeast Asia based in Singapore, according to a memo seen by The Wall Street Journal.

"Mr. Barg will relocate from Hong Kong, where he is currently co-head of the equity capital markets group for Asia excluding Japan. He will lead the Southeast Asia investment-banking team with Hsin Yue Yong."

Financial Times: BeyondBRICS
Link: Emerging market pharma spending to nearly double by 2016

"Emerging markets will nearly double their spending on medicine over the next five years from $194bn in 2011 to $345-375bn in 2016, say healthcare analysts at IMS Health in a report on Thursday.

"The Global use of Medicines: Outlook through 2016, says the expected rise comes from a combination of increasing income levels, the increased affordability of medicines and the roll-out of government health care programs for poorer patients.

"Even so, despite having two thirds of the world's population, emerging markets will consume only around a third of the worlds' medicine. So, for pharma groups, there will still be plenty of growth to come."

Twitter: @ChrisWitrak
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