The Nexus One runs on Android operating system that Google introduced in 2007. This makes Nexus easier to connect to Google’s services and other Web sites away from home or the office.

Nexus touch-screen was designed in partnership with HTC Corp., which made the first Android-powered phone and will manufacture this one, too. Google will handle all sales online and has no plans to let consumers check out the Nexus One in retail stores…mmmmhh is this a good idea? I wonder.

Nexus One’s  is a bit pricey, at $529 aaaaouchhhhhhh, this definitely lessens its appeal in a still-shaky economy.

The move does escalate the budding rivalry between Google and Apple Inc. Apple has sold more than 30 million iPhones in the past 2 1/2 years.

To counter Google, Apple announced a deal Tuesday to buy mobile advertising service Quattro Wireless for $750 million.

Most of the more than $20 billion in ads that Google sells annually are tied to Internet searches, a market that it dominates. But a proliferation of programs that create more direct routes to mobile applications may lessen the need to conduct searches on wireless phones. In designing and selling its own phone, Google gets yet another way to ensure its services remain within easy reach of people on the go.

Google is billing the Nexus One as the first “super” phone in an effort to position the device as a cut above the iPhone  forget Research In Motion Ltd.’s  BlackBerry for a moment.

Nexus appears to be sleeker than other phones, as thin as a pencil at 11.5 millimeters and as light as a keychain-sized Swiss army knife at just 130 grams.

Among other things, the Nexus One  offers more ways to customize the phone’s home page and use voice recognition technology to perform more tasks, including composing e-mails and navigating Google’s mobile mapping products.

“This phone, from a performance perspective, looks a little like your laptop did four or five years ago,” said Andy Rubin, a Google executive who oversees Android.

But most of the features on the Nexus One are already on other Android-powered phones, and it probably will be a long time before it can offer as many different tools as the iPhone, which boasts more than 100,000 applications compared with Android’s 18,000.

Google is asking consumers to pay more so they can select their own wireless carriers. That’s a departure from the usual sales model in the United States.

For the first few months at least, the Nexus One will only work on GSM networks — a limitation that means buyers in the U.S. will have to use T-Mobile USA if they want the handset for high-speed Web surfing. Consumers willing to enter into a two-year data plan with T-Mobile will be able to buy the Nexus One for $179, $20 less than the top-of-the-line iPhone with an AT&T subsidy.

The technological barrier also precludes the initial version of Nexus One from working on the U.S. wireless networks of Verizon Wireless and Sprint, though Google plans a version that will work on those carriers’ CDMA technology this spring and Verizon Wireless plans to subsidize that. For AT&T, the phone’s compatible only with its slower wireless network instead of the 3G one used by the iPhone.

The Nexus One should work with many carriers abroad, as GSM is the predominant technology used. Vodafone’s wireless service in Europe also will begin to subsidize the Nexus One in the spring.

http://www.google.com/phone

STOCKS:

GOOG

AAPL

HTC

The French government vowed to defend the second largest bank Societe Generale against any hostile take over bids.

Christine Lagarde, French minister added pressure on the bank chairman Daniel Bouton over the handling of the $7.15 billion dollar loss.

The government also said that they are very attentive to any risk of destabilization of Societe Generale.

France’s top two banks BNP Paribas and Credit Agricole are said to be eyeing on Societe Generale, France’s third biggest bank by market capitalization. If any of these two banks don’t take the bank over, expect Barclays’ bank to make a move, the question of whether they will succeed remains to be seen.

Kerviel was placed under formal investigation on Monday for breach of trust, using false documents and breaching computer laws. Kerviel was released on bail, but the prosecution is appealing.

Turning the spot light to the Bank’s chairman Bouton for a moment, Bouton should be held accountable for the biggest losses in the history of investment banking. “You cannot escape your responsibilities,” Sarkozy said late Monday pointing to Societe Generale Chairman Bouton—that I agree with. Just imagine how much this guy makes….

Boutons fate lies in the mercy of Societe Generale’s board, per the French finance minister.

Keriviel, if found guilty of breach of trust would face a maximum sentence of three years in prison and a fine of $186,000.00

New data today to give clues into the state of the housing market and corporate spending levels

Sears Holdings Corp. reported that its CEO, Aylwin Lewis, will resign from the department store chain on February 2^nd.

Countrywide Financial Corp Chairman and chief executive Angelo Mozilo is to forfeit $37.5 million in pay and benefits.

Stocks to watch:
GLW 

MCD

HAL 

SHLD

Societe Generale Fraud Saga:
Jerome Kerviel to be charged of forgery, breach of trust and fraud; accusations to be filed against Jerome by Societe Generale bank of causing what could turn out to be history’s largest trading fraud by a single person

In Naivasha, at least nine people were killed and other 40 have been killed in and around Nakuru since fighting broke out there on Thursday.

Local media report that ethnic fighters in the rift valley area are attacking each other with bows, arrows and machetes (Panga)

According to Mr. Odinga and his supporters, President Kibaki stole the December elections. Kenya since, for about half a month has been on blood shed, much of it involving Mr.Odinga’s Luo tribe and Kikuyu—president Kibaki’s tribe.

Mr Annan is attempting to get a deal going that will resolve the political dispute and end the violence—that remains to be seen.

At least 1000 people have been killed and a quarter of a million other’s displaced.

Funny, how Mr. Annan brought president Kibaki and Odinga together for the first face to face discussions since the elections and later, both sides accused each other of seeking to undermine the talks—typical African men style.

Kenya’s economy will continue to suffer until this issue is resolved, hopefully the two men can mature and strike a deal for the sake of the country and it’s people.