GOLDMAN AWARDS ITS CHIEF WITH A RAISE  | Goldman Sachs’s board decided to give Lloyd C. Blankfein, the banks chief executive, stock options worth $14.7 million as part of his 2013 pay package, eclipsing last year’s total.
Though the cash portion of Mr. Blankfein’s bonus has not yet been disclosed, he and other senior executives have typically been awarded a 70-30 split between stock and cash. If this holds true, it would mean Mr. Blankfein is set to receive around $6 million in cash. Including his base salary of about $2 million, his total compensation for 2013 stands to be around $23 million, leaving Jamie Dimon, the chief of JPMorgan Chase, in the dust.
LENOVO’S WEEKLONG SPENDING SPREE  | Think your week was hectic? Consider Lenovo’s. In just seven days, Lenovo, the Chinese technology behemoth, announced two deals totaling $5.2 billion. The first, announced Jan. 23, was a $2.3 billion acquisition of IBM’s low-end server business. The second, announced on Thursday, was the purchase of Motorola Mobility from Google for $2.9 billion. During those seven days, Lenovo’s chief financial officer had secret meetings and dealt with the impending Chinese Lunar New Year.
The flurry of deals highlights just how eager Lenovo is to continue its rise through the top echelons of technology companies. With the IBM server acquisition, Lenovo put itself in a position to take on Dell and Hewlett-Packard, and its Motorola purchase moved it into the No. 3 position in smartphones, behind Samsung and Apple. But Lenovo’s furious quest to take on the world’s technology giants also raises questions about whether the company is trying to do too much, too fast.
“Though there is some strategic logic, shareholders have little way of working out whether the deals stack up,†write Ethan Bilby and Peter Thal Larsen of Reuters Breakingviews.
LIBYAN INVESTMENT FUND SUES GOLDMAN  | The Libyan Investment Authority, the country’s sovereign investment fund, has filed a lawsuit against Goldman Sachs contending that the bank made a $350 million profit from more than $1 billion in derivatives trades that became worthless, Jenny Anderson reports in DealBook.
In a news release on Thursday, Abdul Magid Breish, the chairman of the Libyan Investment Authority, said: “While Goldman Sachs was orchestrating these unjustly exploitative transactions, it repeatedly told the L.I.A. that it sought a long-term relationship with the L.I.A. as a strategic partner. This was untrue.†A Goldman spokesman said the bank believes the claims are “without merit.â€
The investment authority contends that Goldman did not explain the investments, which were effectively long-term call options on six stocks, and that the Libyans did not understand the investments, Floyd Norris writes in DealBook. All of the investments cited in the lawsuit expired worthless, with an investment in Citigroup’s shares falling the furthest out of the money. Had the Libyan fund bought the shares instead of options, it would have lost money but not nearly all of its investment.
ON THE AGENDA Â |Â Farewell, Ben S. Bernanke, whose last day as chairman of the Federal Reserve is today. Personal income figures for December are out at 8:30 a.m. The Reuters/University of Michigan consumer sentiment index for January is out at 9:55 a.m. Richard W. Fisher, the president of the Dallas Fed, speaks on the economic outlook at 1:15 p.m. John C. Williams, president of the San Francisco Fed, is on Fox Business Network at 1 p.m. Robert Kraft, the owner of the New England Patriots, is on CNBC at 8 a.m. Buck French, the founder and chief executive of Fantex Holdings, is on CNBC at 12:30 p.m. The mascots for the Denver Broncos and the Seattle Seahawks are on CNBC at 5 p.m. Get your game face on for Super Bowl XLVIII. Kickoff is at 6:30 pm on Sunday.
INSIDER TRADING ON OBAMA’S MYRA?  | Almost one million shares of the sub-penny stock Myriad Entertainment & Resorts, (Nasdaq ticker: MYRA) were traded Jan. 17, more than a week before President Obama introduced the MyRA savings account in his State of the Union address, Bloomberg News reports.
A POETIC INVESTMENT BANKER  | A former summer investment banking intern emailed The Financial Times this poem. Here is a snippet: “The ubiquitous klaxon / The blinding love of cash / Work past when the work is done / Contribute to the next crash.â€
MEN’S WEARHOUSE COULD PAY MORE FOR RIVAL  | The takeover battle involving Men’s Wearhouse and Jos. A. Bank continued on Thursday, with Men’s Wearhouse indicating in a letter that it may be willing to increase its bid for its rival, Rachel Abrams writes in DealBook. In the letter, Men’s Wearhouse remained confident in its offer of $57.50 a share, but added that “we are prepared to increase our offer price if you can demonstrate or we can discover additional value through discussions or limited due diligence.â€
The willingness of Men’s Wearhouse to raise its bid has left analysts wondering how much is too much.
While some contend that the company is fairly valued given its closing price on Wednesday, others say it is reasonable to assume that the performance of both companies will improve.
Google’s Sale of Motorola Unit Could Help Samsung  | Google’s sale of Motorola Mobility to the Chinese computer maker Lenovo could bolster Samsung Electronics while putting other makers of Android phones, like HTC, Sony and Huawei, in a tough spot, the Bits blog reports.
NEW YORK TIMES BITS
Zynga Buys Mobile Game Maker  | Zynga announced it was purchasing the mobile game developer NaturalMotion for $527 million, The Associated Press reports. The acquisition is Zynga’s largest to date.
ASSOCIATED PRESS
Deutsche Telekom Said to Consider Stake in OTE Â |Â Deutsche Telecom is said to be in talks to acquire a 10 percent stake in Hellenic Telecommunications Organization, known as OTE, Bloomberg News reports, citing unidentified people familiar with the situation. OTE has a market value of $7 billion.
BLOOMBERG NEWS
Telenav Buys Skobbler for $24 Million  | Telenav, a wireless location-based services company, has purchased the navigation app Skobbler for $23.8 million in cash and stock, ReCode reports.
RECODE
Investors to Receive Payout from BATS-Direct Edge Merger  | Investors in BATS Global Markets and Direct Edge, which include Morgan Stanley and Goldman Sachs, are expected to share a payout of $235 million of special dividends after the merger between the two companies is complete, The Financial Times reports.
FINANCIAL TIMES
Goldman Deal Threatens Danish Government  | When Denmark gave Goldman Sachs approval to buy a stake in its state utility, the Socialist People’s Party withdrew its ministers from the country’s governing coalition.
DealBook »
Bank of America Faces $2.1 Billion Penalty  | The United States government is seeking a $2.1 billion fine from Bank of America over faulty mortgages, an increase from the initial $860 million penalty the government had asked for, The Financial Times report. The high-profile case is known as the “hustle,†after the bank’s “high-speed swim lane†used to rush through loans.
FINANCIAL TIMES
Bank Profits Reach Post-Crisis Highs  | Profits for the six largest American banks totaled $77.5 billion in 2013, the highest total since the financial crisis, Quartz reports.
QUARTZ
Banks Easing Limits on Lending  | United States banks are beginning to increase their risk appetites, resulting in steady loan growth, The Wall Street Journal reports.
WALL STREET JOURNAL
For Blackstone, a Pot of Gold Remains Out of Reach  | The world’s biggest private equity fund, known as Blackstone Capital Partners V, represents a potentially lucrative source of profit for Blackstone â€" but one that remains locked up for the immediate future.
DealBook »
Blackstone Earnings More Than Doubled in Fourth Quarter  | The Blackstone Group’s results handily beat Wall Street forecasts as it reaped big gains on its investments in private equity and real estate.
DealBook »
K.K.R. Considering Tech Investing Platform  | The private equity firm Kohlberg Kravis Roberts may be forming a growth equity platform focused on technology, Fortune reports.
FORTUNE
One Kings Lane Raises $112 Million  | One Kings Lane, the popular home-decor online retailer, has raised $112 million in a new round of fund-raising, TechCrunch reported on Thursday.
DealBook »
TI Automotive Owners Tap Blackstone for Advice  | TI Automotive’s hedge fund owners are said to have hired the advisory arm of the Blackstone Group to assess the merits of various options for the company like taking it public or selling it to private equity, Reuters reports, citing unidentified people familiar with the situation.
REUTERS
Bridgwater’s Dalio Discusses World View  | Ray Dalio, the founder of the hedge fund Bridgewater Associates, spoke to CBS News about his understanding of the world.
CBS NEWS
Hedge Fund Billionaire Backs Social Impact Bond  | The hedge fund billionaire John Arnold, along with Goldman Sachs and other philanthropic partners, have backed a $27 million social impact bond to prevent young men in Massachusetts from going back to prison or jail, CNBC reports.
CNBC
Telecom Firm Altice Raises $1.8 Billion in I.P.O.  | The pricing gives the company, which has operations in several European countries and the Caribbean, a market value of €5.7 billion and fuel for potential acquisitions.
DealBook »
An Alibaba Rival Plans Its Own I.P.O. This Year  | JD.com, one of China’s biggest e-commerce companies, said in a regulatory filing that it planned to raise $1.5 billion this year in an initial public offering in the United States.
DealBook »
Box, an Online Storage Start-Up, Is Said to File for an I.P.O.  | The online storage and document-sharing provider, founded seven years ago, has become one of Silicon Valley’s darlings.
DEALBOOK
New Home Company Said to Raise $86 Million in I.P.O. Â |Â The homebuilder New Home Company priced its shares at $11 in its initial public offering and is said to have raised $86 million, Reuters reports.
REUTERS
Former Chief of Akamai Joins General Catalyst as Partner  | Paul Sagan, who ran Akamai Technologies for eight years, will act as a hands-on adviser to young companies in which the venture capital firm is invested.
DealBook »
CrunchFund Raising Second Fund  | CrunchFund, the early-stage venture capital firm led by Michael Arrington, the founder of the TechCrunch news site, is raising its second fund with a target of about $30 million, Fortune writes.
FORTUNE
Fashion Start-Up Raises $1.2 Million  | The New York-based fashion start-up Bow & Drape, which has begun experimenting with 3-D printing to make some of its accessories, has raised $1.2 million, The Wall Street Journal reports.
WALL STREET JOURNAL
Same-Day Hotel App Expands  | HotelTonight, a mobile phone app start-up for booking same-day hotels at a discount, has signed on 10 hotel brands and received an investment from a real estate owner, The Wall Street Journal reports. The app has already raised $80 million, largely from the hedge fund Coatue Management and venture capital firms.
WALL STREET JOURNAL
Venture Investments in Florida Companies Double  | Venture capital-backed companies in Florida raised $618 million in 2013, twice the total in 2012, The Wall Street Journal reports. While Florida is not known for attracting venture capital investments, its health care companies are drawing considerable interest from investors.
WALL STREET JOURNAL
Former Chief of S.E.C. to Shift Consulting Job  | Mary L. Schapiro said her time would be spent on an array of university lectures, speaking engagements and corporate board work.
DealBook »
A Real-Life ‘Wolf of Wall Street’ Reunion, Minus the Wolf  | The movie left out some of the intriguing details of Jordan Belfort’s crimes, a group of men who had front-row seats to the real thing said at a law school event in Manhattan on Wednesday.
DealBook »
Banks Could Still Face Tougher Capital Requirements to Prevent Crises  | Although central bankers and national regulators agreed to support a low leverage ratio for banks, the chairman of the Basel Committee on Bank Supervision suggested that the panel could still recommend stiffer requirements.
DealBook »
European Commission Proposes More Oversight of Repo Market  | The European Commission has put forth a proposal that would tighten oversight of the repo and securities financing market, which is meant to curb risky trading by banks, The Financial Times writes.
FINANCIAL TIMES
Portugal to Sell Bailed-Out Bank’s Miró Art  | The Portuguese government is looking to raise $50 million by selling some artwork by Joan Miró, which was owned by Banco Portugues de Negocios when it was seized by the state in 2008, Bloomberg News reports.
BLOOMBERG NEWS
Activists Solicit Shareholders to Replace Board at CommonWealth REIT Â |Â Corvex Management and Related Fund Management are frustrated with the Portnoy family, which controls CommonWealth REIT, and the firms have begun a consent solicitation process aimed at replacing the CommonWealth board.
DealBook »
