Tech deals and Bitcoin have been very big news stories this week. Facebook's purchase of WhatsApp means that $50bn has been spent on tech deals this year as Facebook and Google compete to dominate digital growth, although this spending has sparked fears of another bubble. Mobile Phone companies however are nervous by this takeover as they see it as a threat to SMS messaging which is already in decline. Bitcoin, a virtual currency, has also been big news this week. Despite turmoil and great financial loss on Mt Gox, Bitcoin remains strong. This editorial is a fascinating look at the strengths, weaknesses and opportunities posed by Bitcoin.
In technology news, Samsung has used its own operating system to launch a 'smartwatch' rather than the Android OS. Samsung has also unveiled a new Galaxy Smartphone. It has a larger screen, better camera and extended battery life. Their biggest rival, Apple, have had a less good week as security flaws on the i-Phone were exposed. This is a fascinating book review about how Lego turned their financial situation around. Oil was also important this week, as England and Scotland wrangle over who will control the North Sea Reserves in the event of Scotland voting for independence, although these reserves may already be declining. Norway's Oil fund is increasing the number of specialists it employs to manage and grow its equity holdings.
To finish on a lighthearted note, the FT this week looked ta Business Schools that had used Second Life to teach in a virtual environment and why this has so drastically declined in popularity.
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