Google Glass May Soon Look More Like Ray-Bans

Morning Money Memo…

Geeky-looking Google Glass may soon be much more stylish. Luxottica Group, the Italian firm that makes Ray-Ban and Oakley sun glasses, has signed a partnership with Google to design frames for Internet-connected eyewear. The announcement comes just days after news that Fossil will have a hand in a forthcoming wristwatch set to run on Google’s revamped Android mobile operating system. Shares in Luxottica soared nearly 5% today in Rome. CEO Andrea Guerra told the Italian newspaper La Repubblica that the push to market will be in 2015 and that the Google partnership should help guarantee the eyewear maker annual growth of 5 to 10%. Google Glass is a computing device that includes a thumbnail-sized screen above the wearer’s right eye to view Internet content.

Many low-income Americans who take out payday loans end up paying more in fees than the original amount they borrow. The finding comes from a report by the Consumer Financial Protection Bureau, which also shows that four of five payday loans are extended, or “rolled over,” within 14 days. Additional fees are charged when loans are rolled over. Payday loans, also known as cash advances or check loans, are short-term loans at high interest rates, usually for $500 or less. They often are made to borrowers with weak credit or low incomes.

A change of direction for the stock market? Some of the year’s hottest stocks tripped up the latest round of trading. Netflix plunged 7% yesterday, Facebook fell 5%, and Google and Amazon.com each fell more than 2%. Biotech firms also took it on the chin. Over the past 12 months, the high-technology Nasdaq gained more 30%.

Five former employees of imprisoned financier Bernard Madoff have been convicted at the end of a six-month trial. Prosecutors argued that the defendants had spun an elaborate web of lies to hide a fraud that enriched them and cheated investors out of billions of dollars. The trial was one of the longest in the history of Manhattan federal court.

The U.S. Coast Guard is hoping it will be able to open the Houston Ship Channel three days after a barge collision dumped as many as 170,000 gallons of heavy oil into the water. Crews have been working to clean up the oil, scouring the sand for quarter-sized tar balls that have washed ashore and using cannon booms to scare away birds. The channel is one of the nation’s busiest seaports. Officials believe most of the oil that spilled Saturday is drifting out of the channel into the Gulf of Mexico. That should limit the impact on bird habitats around Galveston Bay as well as beaches and fisheries important to tourists.

BCE Inc. (BCE) Now Offering Samsung Galaxy Gear for Less than $100

BCE Inc. (USA) (NYSE:BCE) (TSE:BCE), the largest communications company in Canada is now selling the Samsung Galaxy Gear smartwatch for only $99.97, down from $349.99 through Bell Canada,  its core business composed of Bell Wireline, Bell Wireless and Bell Media segments.

This is the best opportunity for Canadian consumers who owns a Galaxy Note 3, Galaxy S4, Galaxy Note 2 and Galaxy S3, or Galaxy Note 10.1 2014 Edition to pair their devices with a Galaxy Gear at a very affordable price. Take note that Bell Canada is offering a $150 discount.

Samsung Electronics Co. Ltd (LON:BC94) (KRX:005935) introduced the Samsung Galaxy Gear together with the Samsung Galaxy Note 3 and Galaxy Note 10.1 2014 Edition during the 2013 IFA in Berlin.

The Samsung Galaxy Gear is powered by the Android operating system with a 1.6-inch OLED screen, integrated with a camera, microphone and it has a battery life of 10 hours. It supports more than 70 apps and comes with pedometer and fitness apps such as RunKeeper that tracks running and other workout activities and MyFitnessPal, a calorie counter and activity tracker.

Samsung sold substantial units of Galaxy Gear

Although the sales performance of the Samsung Galaxy Gear smartwatch cannot be considered a blockbuster, Samsung Electronics Co. Ltd (LON:BC94) (KRX:005935) sold a significant number—800,000 units in November last, two months after its availability in the market. It is reasonable to assume that the company sold additional units during the following months, which inspired the company to develop new versions of the device.

New Tizen-based Gear smartwatches

Samsung Electronics Co. Ltd (LON:BC94) (KRX:005935) officially unveiled its Gear 2 Neo and Gear 2 smartwatches powered by the Tizen operating system Mobile World Congress at Barcelona, Spain last February 22. The devices will be available in the market next month.

The Gear 2 and Gear 2 Neo smartwatcges sports a 1.63”Super Amoled display, integrated with 1GHz dual-core process, 512 MB RAM, Bluetooth, accelerometer, gyroscope, and heart rate sensors. Both devices comes with 4GB internal memory, Li-ion 300mAh battery lasts within 2 to 3 days on a typical usage and up to 6 days on low usage, and IP67 certified dust and water resistant and noise cancellation.

Bell Canada is probably offering a great discount on the Galaxy Gear smartwatch to sell all remaining inventory in time for the arrival of the Tizen-based Gear 2 Neo and Gear 2 smartwatches.

Apple brings iPhone trade-in program to Canada

TORONTO – Starting this week, iPhone users in Canada will be able to trade in old phones under Apple’s in-store recycling program.

As of Monday, Canadian consumers can trade in old handsets at an Apple store and receive a gift card up to $275 (depending on the condition of the old iPhone) toward a new model.

Old phones that aren’t working or can’t be refurbished will be recycled.

The in-store trade-in program expands on Apple’s online recycling program which has been operating for the past three years.

Apple first launched its iPhone Reuse and Recycling Program in the United States last August with the goal of reducing consumer electronic waste. It has since expanded to include the United Kingdom and France.

According to the company, recycled Apple devices are taken apart and components that can be used again are removed. Materials like glass, metal and plastic are reprocessed for use in new products.

Canadian smartphone maker BlackBerry also offers a trade-in program where consumers can mail back used devices and receive a credit toward the purchase of a new BlackBerry phone.

The Waterloo-based company said that mobile devices still in good condition are then refurbished and any devices not suitable for resale are recycled.

BlackBerry users suffer email and messaging service outage

Some BlackBerry users across Canada and the Asia Pacific region have been unable to use their email and messaging services since Tuesday morning.

BlackBerry confirmed shortly after noon ET —  about three hours after the problems began — that the service issue was affecting users in those two regions.

"Our technical team has identified the potential cause of the issue and has reduced its impact on customers’ service," Lisette Kwong, senior manager of corporate communications, write in an email to CBC News.

"The team will continue to work towards a full resolution as quickly as possible.  We apologize to any customers who may be affected by this issue."

According to the website Canadianoutages.com, where smartphone users can report problems, the issues began around 9 a.m. ET today. The outage appears not to be affecting users of BlackBerry 10.

Customers of different carriers in several provinces, including Ontario, Quebec, Manitoba, B.C. and Nova Scotia have reported the problems.

One user, Sameer Hasham, said he had reached BlackBerry tech support, which confirmed that the outage was affecting all BB Services except for BlackBerry 10.

A BlackBerry 10 user confirmed that he was not having problems.