I have the ultimate hot tip if you’re obsessing over what to do with your portfolio in 2013: Ignore all the “How to Invest in 2013” nonsense that you see in magazines, blogs, and on business television this time of year.

NORTEL Networks Corp, North America’s largest maker of telephone equipment, fired chief executive Frank Dunn because of accounting mistakes and said it may have to reduce last year’s earnings 50%.

France Telecom unit Orange declined to comment on a report in Le Figaro today that claims it awarded Nortel Networks Corp a contract for the supply of UMTS equipment worth between €800m and €1bn.