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Market Roundup (MSFT, QTEL, BAC, TM, FNM, FRE, HUM)

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Microsoft (NASDAQ: MSFT) and Qatar Telecom (NASDAQ: QTEL) have signed a strategic alliance to bring together integrated cloud-based services, software applications, mobile services and devices over QTEL’s converged network for work and entertainment purposes. MSFT and QTEL plan to launch their first products by mid-2010.

According to the SEC, Bank of America (NYSE: BAC) has fired its former general counsel to create an opening for another employee and not to stop him from disclosing big losses at Merrill Lynch. The account contradicts the lawsuit from New York Attorney General Cuomo.

Toyota Motor (NYSE: TM) has decided to install a brake override system in all new cars across the world. President Toyoda has denied that the firm had withheld information from US regulators and mentioned that he wouldn't attend a congressional hearing next week.

Proposed regulations would prevent Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) from relying on subprime mortgages to meet affordable-housing targets. The regulations would also forbid them from counting second-lien loans toward the goals.

Humana (NYSE: HUM) plans to cut its workforce by 5% this year as it faces a decline in Medicare benefits. HUM is also suffering as a result of shrinking private-sector enrollments. The insurer had generated 61% sales growth last year from Medicare.

Read more from Benzinga's Markets.

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