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Goldman Sachs European telecommunications equipment analyst Tim Boddy this morning chopped estimates across the board, asserting that “recent financial turbulence greatly increased the chances of a U-shaped recession in developed markets lasting through 2010,” rather than a V-shaped recovery in 2009. In response, he cut EPS estimates on Euro telecom equipment stocks by an average 15% for this year, 18% for next year, and 16% for 2010.

Boddy says the stocks he follows are likely to continue to fall, pressured by estimate downgrades and leverage risk, with the exception of those already tradin

The ‘Mahassal’, an advanced version of tax management system (TMS), would be launched by different reformed units, including Large Taxpayer Unit (LTU), Islamabad; Regional Tax Office (RTO), Rawalpindi. and RTO, Faisalabad, from next week to carry out all income tax-related functions, electronically.

Sources told Business Recorder on Tuesday that the Federal Board of Revenue (FBR) has successfully tested the system in LTU, Lahore, which would be replicated in two phases across the country from October 1, 2008. The ‘Mahassal’ team, headed by Project Director Ranna Ahmed, has finalised all arra

A few weeks ago Paul van Eeden (PVE) posted an extremely bearish outlook on bonds that he justified, in large part, by the rapid expansion of M3 money supply. We

• Electronic Arts Inc. (NASDAQ: ERTS) received a second request for information from the FTC regarding its proposed acquisition of Take-Two Interactive Software, Inc. (NASDAQ: TTWO).Take-Two has resisted EA's overtures.
• Affiliated Computer Services, Inc. (NYSE: ACS) announce an agreement to acquire Orbital Sciences Corporation's (NYSE: ORB) Transportation Management Systems (TMS) business for $42.5 million.TMS is the nation's leading provider of Global Positioning System (GPS)-based fleet management systems, with trailing twelve mon