Motorola suit tossed
The US International Trade Commission (ITC) on Monday tossed out a Motorola Mobility patent claim that threatened to block the import of some Apple iPhone models into the US. The commission dismissed a complaint by Google-owned Motorola Mobility accusing Apple of infringing on patented technology that makes touch screens ignore fingers when people are holding smartphones to their ears for calls. The ITC reasoned that the technology at issue in the patents was not original enough to support the accusation.
Virgin takeover backed
The Australian Competition and Consumer Commission yesterday approved the takeover by Virgin Australia of budget rival Tiger Airways Australia. The commission said it would not oppose the transaction because it is unlikely to substantially reduce competition in the nation’s aviation market. The proposed acquisition of a 60 percent stake in Tiger for A$35 million (US$36 million) still requires approval from the Foreign Investment Review Board.
CP All buys Siam Makro
CP All Pcl, the owner of 7-Eleven stores in Thailand, agreed to pay about US$6.6 billion to acquire Siam Makro Pcl, putting control of the discount retailer back in the hands of billionaire Dhanin Chearavanont. CP All, controlled by Dhanin’s Charoen Pokphand Group, will pay 787 baht a share for the 64 percent of Siam Makro owned by SHV Holdings NV, the company said yesterday. It will also make a tender offer to other shareholders at the same price, a 15 percent premium to Siam Makro’s share price of 682 baht before it was suspended from trading on Monday.
Netflix gaining customers
Netflix’s decision to feature original programming on its Internet video service appears to be pulling in more customers. Numbers released on Monday showed Netflix Inc added 2 million US subscribers to its video streaming service during the first three months of the year. Through last month, Netflix had 29.2 million US streaming subscribers. The subscriber growth helped Netflix eke out a profit of US$3 million, or US$0.05 per share, in the quarter. That contrasted with a loss of nearly US$5 million, or US$0.08 per share last year.
S&P case dismissal sought
The parent company of Standard & Poor’s (S&P) wants a federal judge to dismiss a US government lawsuit that claims the ratings agency gave falsely high ratings to mortgage investments that helped trigger the financial crisis. Attorneys for McGraw-Hill Cos Inc delivered their arguments in documents filed on Monday in US District Court in California. The motion asserts that the US government’s complaint against S&P is a stretch, noting that other agencies issued ratings identical to S&P.
Eurobank needs help
Eurobank says it will not be able to privately raise money to complete its 5.84 billion euro (US$7.61 billion) recapitalization, and would rely on a national rescue fund instead. The bank’s governing board on Monday said it would make the recommendation at investor meeting to draw all the money from the Hellenic Financial Stability Fund — a move that could mean handing over management of the bank to the state.
Softbank Group Corp plans to keep a stake in the chip designer Arm Ltd, even if it sells a partial interest to Nvidia Corp, the Nikkei reported. The companies are negotiating terms, the newspaper reported, citing sources. Softbank might take a stake in Nvidia after it buys Arm, the report said. Nvidia and Arm might also merge through a share swap, and Softbank would become a major shareholder in the combined company, it said. The two parties aim to reach a deal in the next few weeks, the sources said, asking not to be identified because the information is private. Nvidia is the
‘ONE-STOCK SHOW’: Turnover hit an all-time high as TSMC continued to determine the local market’s direction and surpassed Visa in market capitalization The TAIEX early yesterday hit an all-time intraday high on the back of soaring Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) shares, before tumbling back to the previous day’s close as the contract chipmaker could not single-handedly prop up the index. The TAIEX rose more than 400 points in the first 20 minutes of trading to hit a record 13,031.7 points, but later pared its gains to close down 0.01 percent at 12,586.73. Turnover was NT$343.252 billion (US$11.63 billion), the highest in the Taiwan Stock Exchange’s history. TSMC continued to dictate the market’s direction, as its early surge by the daily
Gold surged to a fresh record on Friday, fueled by US dollar weakness and low interest rates, while silver headed for its best month since 1979. Spot bullion is up more than 10 percent this month, as US real yields lingered near record lows. While the ferocity of rallies in gold and silver cooled in the middle of the week, most market watchers predict there might be more gains ahead. Both metals have added about 30 percent this year, with gold and silver exchange-traded funds boosting holdings to a record, as concern about the fallout from the COVID-19 pandemic fuels demand for
MOVING FROM CHINA? The article did not name the company, but Foxconn, Wistron and Pegatron were among firms chosen for a production-linked incentive plan in India An Apple Inc vendor is looking at shifting six production lines to India from China, which could result in US$5 billion of iPhone exports from the South Asian nation, the Times of India reported, citing people familiar with the matter who it did not identify. The establishment of the facility would create about 55,000 jobs over about a year, the newspaper reported, not naming the Apple vendor. It would also cater to the domestic market and expand operations to include tablets and laptops, the newspaper reported. Samsung Electronics Co and Apple’s assembly partners are among 22 companies that have pledged 110 billion