Good morning! Here's the news:

• Nokia just announced plans to lay off 10,000 people, or about one-fifth of its global employees, by the end of next year. The company is also getting rid of its luxury handset business Vertu.

• Amid all of that, Nokia revealed plans to double down on the Lumia phone by acquiring assets from a Swedish imaging technology company.

• Business Insider's Owen Thomas has learned that Microsoft is planning to buy up Yammer, a workplace productivity tool. Bloomberg reports the deal may be for more than $1 billion.

• In other Microsoft news, the company is about to make an epic, greedy mistake with its tablets by pricing the Windows RT software way too high.

• Facebook announced a new real-time bidding system for buying ads on the social network. Here's how the company says it will work.

• Kleiner Perkins has filed a seven page response to Ellen Pao's lawsuit, denying "each and every material allegation" she made.

• If you're just tuning into the case now, take a minute to meet all the players in the Kleiner sex scandal that's rocking Silicon Valley.

• Zappos CEO Tony Hsieh revealed his radical plans this week to change Las Vegas.

• Here's who owns how much of Square. Hint: Jack Dorsey doesn't own as much as you might think.

• In case you missed it: Here are the executives that Larry Page loves and hates the most, courtesy of one inside source at Google.

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