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A recent summary judgement in the Wisconsin chapter of Apple vs. Motorola could set a precedent for patent disputes across the country. On Friday, before Google announced its decision to cut 4,000 jobs at the phone maker, the judge in Wisconsin ruled in a summary judgement that Motorola cannot sue to stop the sale of Apple's patent-flouting devices. Rather, the technology in question ought to be licensable to folks like Apple and Microsoft under fair, reasonable and non-discriminatory, otherwise known as FRAND, terms. Holding Motorola to FRAND terms would also cut down the price that Apple has to pay to license those patents. As Foss Patent explains, this could have an impact on FRAND-related disputes in other places, including the California chapter of Apple vs. Samsung.
Klout Gets An Algorithm And Interface Overhaul
Klout, that score-keeper of online activity, has announced changes to the way it calculates and displays scores and rankings. For one, it will take into account 4 times as many signals, AllThingsD explains, picking up 400 cues like list memberships and Facebook subscriptions before assigning a person a score. Klout's controvertial assigned scores and areas of "influence" have sometimes baffled users in the past, but Klout hopes to make their workings a little more transparent in this update. For one, Klout will indicate in a user's timeline when their influenc-o-meter spikes.
Google+ Joins The Vanity URL Game
Google's revealed that its social network system Google+ is going to allow users to adopt vanity URLs. The move will start with verified people and pages that are mainly celebrities or brands, and then eventually roll out to more users. Currently Google+ user pages are identified by a long string of numbers as an identifier, which is practical but hardly memorable.
Google is following a trail blazed by its more established rivals Twitter and Facebook, which have already adopted a more text-based identifier--Facebook more recently. The use of a simpler user ID allows both brands and named users to stand out a little and may also facilitate discovery of new users and content.
Google's blog posting about the news notes that it will expand to include "many more" users, but doesn't conclusively say that all of the users of the service will be able to choose a short, memorable URL.
Standard Chartered reaches settlement with N.Y. state
The state of New York has agreed to a $340 million settlement of its case against Standard Chartered. The U.K.-based international bank had been accused of handling $250 billion in Iranian funds in violation of U.S. sanctions against Iran. The settlement will not end U.S. federal agencies' investigations of the bank's dealings with Iran.
India reports sub-7% inflation, but rate outlook is unclear
At 6.9% in July, India's inflation is the lowest it has been since late 2009. Some analysts, however, doubt the reliability of the government figure, noting core inflation was higher even as food prices were reported easing. Forecasts of whether the central bank is now likely to cut rates differed, with some seeing a half-point cut in the near future and others predicting no action.
Indian exports plunge in July
Indian exports were down nearly 15% in July for the sharpest falloff in three years. Commerce Secretary S.R. Rao cited the severe fiscal crisis in the eurozone and slackening demand from the U.S. as contributing factors. Rao said it now will be a "stiff challenge" to achieve the full-year export target of $350 billion.
Second-quarter shrinkage casts gloom over eurozone
The economy of the 17-nation eurozone shrank 0.2% in the second quarter, burdened by budget cuts and the intractable debt crisis. The main problem lies in the struggling economies of the so-called periphery, said Martin Van Vliet, an economist at ING Bank in Amsterdam. "Any recovery will likely remain sluggish and fragile. There are a lot of things that could go wrong on the crisis resolution that could derail the envisaged recovery," Van Vliet said.
Germany tops forecasts with 0.3% growth
Marking a significant departure from the eurozone contraction, Germany's economy grew at a 0.3% pace in the second quarter, topping analysts' estimates. "Positive contributions came from both consumer spending and from net foreign trade," commented Destatis, Germany's statistics office.
France barely avoids a 2nd-quarter contraction
With boosts from the private and public sectors, France's economy narrowly avoided contracting in the second quarter, with no growth. Economists had expected a 0.1% pullback, but the better result allows some room for the government to pare the country's budget deficit.
Struggling Spain posts 2nd month of rising inflation
Despite a deeply mired economy and soaring unemployment, Spain's core consumer inflation rate edged up for the second month in July, to 1.4%. Separately, European Economic and Monetary Affairs Commissioner Olli Rehn suggested that the Spanish government is open to the idea of requesting a sovereign bailout.
With successful debt sale, Greece ensures no August default
Greece ensured it will have enough money next week to repay bonds held by the European Central Bank with a successful debt sale, its largest in two years. About €3.1 billion out of the more than €4 billion raised will repay ECB-held bonds that mature Aug. 20, thus helping Greece avoid default.
U.S. retail sales jump 0.8% in July
Reversing three months of decline, U.S. retail sales jumped 0.8% in July, pointing to a stronger third quarter and indicating that a slowdown in the second quarter may have been temporary. However, signals were mixed in two other indicators, with business inventories rising in June as companies anticipated higher consumer demand but with business sales dropping for the third month in a row.
Market Activities
INTERNATIONAL MARKETS OVERVIEW
INTERNATIONAL MARKETS OVERVIEW
Stronger-than-expected German growth figures and a surprising jump in U.S. retail sales helped lift European stocks Tuesday, with the Stoxx Europe 600 index adding 0.7%. The same data also provided an early impetus for U.S. shares, but the market eased later in the day and the S&P 500 ended a fraction of a point lower in light trading. Here is a continuously updated list of global stock indexes.
Economic Trends & Outlook
Fears grow that Japanese recovery may be sidetracked
Although the Japanese government is predicting continued recovery over the second half of the year, new concerns are being raised that the imperiled European economy and, domestically, the end of subsidies for eco-friendly vehicles will contribute to further slowing in the current quarter. In addition, poor economic conditions could work to delay implementation of a tax increase just passed into law.
China's 2012 growth is now pegged at 8.0% by Morgan Stanley
An absence of economic stimulus and faltering external demand were cited by Morgan Stanley as it cut its growth forecast for China to 8.0% this year and 8.6% in 2013. Morgan does see an easing policy in the next one to two months, as well as a quarter-point interest-rate cut before the end of the year.
China may be preparing sharper clampdown on property market
With inspection teams back in Beijing and preparing their reports on how well provincial governments have acted to restrain their property markets, expectations are growing that further curbs will be introduced. Some governments have already been warned that they haven't done enough to implement past measures.
South Korea posts 6th month of trade surplus
South Korea's trade surplus in July was down a sharp 40% from the previous month but remained strongly positive at $2.76 billion, according to the Korea Customs Service. July's was the sixth consecutive month of surplus, although exports and imports both declined. Separately, Nomura predicts lower inflation in South Korea for the second half.
National Australia Bank predicts a rate boost in 2013
An increase in interest rates may be in store for the coming year in Australia, according to National Australia Bank, which changed its forecast to become the first major bank predicting a boost. If the central bank does raise its rate, it will mark the first increase since November 2010.
Indonesia consumer confidence, outlook hard to beat
Indonesia's consumer confidence as measured by KADIN-Roy Morgan at 150.5 points in July topped by a wide margin comparable measures in every other Group of 20 country. "While global gloom is taking its toll on China and India, Indonesia continues to swim against the tide," said KADIN Chairman Suryo Sulisto. The survey also found that 79% of Indonesians are optimistic about the country's economy over the next 12 months.
Capital Markets & Financial Products
EU calls for more Indian "stability" to pull in investment
Noting that EU investment to date in China, Russia and other countries far surpasses investment in India, a visiting EU delegation called for more "stability and predictability" in the Indian market. "Though economic relations between India and EU have been multi-dimensional and have expanded over time, they are far below the potential," commented delegate Joao Cravinho. The EU and India are negotiating a trade accord that would lower duties and spur investment.
China's yuan funds for foreign exchange decline amid global slowdown
Reduced trade and foreign direct investment contributed to a decline in China's yuan funds outstanding for foreign exchange in July. The total of 25.66 trillion yuan was down nearly 3.82 billion yuan from the previous month, the central bank said. The drop also suggests a strong outflow of foreign capital amid the global debt crisis and slowing economy.
The San Jose Mercury News reports 35-year-old Kariem McFarlin, of Alameda, has been arrested and charged with residential burglary and selling stolen property. He remains jailed with bail set at $500,000 pending an Aug. 20 court hearing.
Santa Clara County prosecutor Tom Flattery won't say if the items taken from the Palo Alto home on July 17 belonged to Jobs or another family member. The house was surrounded by a temporary construction barrier in July.
Kariem McFarlin, of Alameda, has been arrested and charged with residential burglary.
The co-founder of Apple died last year at the age of 56.
Flattery refused to discuss details about the case.
The prosecutor says McFarlin was likely unaware of the home's significance. But does it really matter? Because if we see the History, it is not the first time for Steve Jobs to get cheated.
( AP )
Confirming the news, R Madhusudan, vice president digital of Sa Re Ga Ma, says, “She is a celebrity and has a lot of images and videos. We have bought the licenses for these. The huge demand for celebrity imagery prompted us to do this.”
The content comprises Leone’s pictures, photos, videos and trivia, which will be available on the Internet and mobile apps.
Ask how he plans to promote the product, and he says, “We ran a contest and a lot of people have participated. We will pick a couple of lucky winners who will have the opportunity to meet Sunny,” says Madhusudan.
He is clear that the content won’t include her films or any of the work that she did for other channels. “This is not content from any film that she has acted in. We haven’t purchased the rights to all her films; she herself doesn’t have rights to those. Apart from acting in films, she has also shot a few videos,” says Madhusudan, adding, “The contract is for a certain period of time. There are some contractual compulsions under which I won’t be able to reveal the actual duration,” he says.
( Hindustan Times )
Today the Huffington Post launched a new video system that combines live broadcast programming alongside an interface that promotes discussion about the live content in real time. The company is going to stream 12 hours of content a day, five days a week and is an attempt at making the most social video experience possible, according to founding editor of the publication Roy Sekoff. Programs can be watched after they've been shown live.
Social media discussion of live video content is a hot topic, with the London Olympics serving as a giant example of how social media is being used in real time during the broadcast of events. An early awareness of the potential of driving up audience engagement using social media was demonstrated when Fox attempted a live tweet stream during a re-run of sci-fi show Fringe, which unfortunately flopped.
Google Acquires Frommer's
Google is acquiring print travel brand Frommer's for an undisclosed sum. Google Local might be in for some big changes.
Google is purchasing the venerable Frommer's travel guide brand from publishers John Wiley & Sons. Under the terms of the deal, which are undisclosed, Google will also get the travel database. It is not known whether Google will continue to publish Frommer's guidebooks in print.
The decision to acquire Frommer's brings Google their second print brand--regardless of whether they continue to publish. Zagat, also a travel property, was purchased by Google in 2011. “Our commitment is to keep things as they are today and once we combine operations, we'll know better what the future looks like,” Zagat's Bernardo Hernandez told The Wall Street Journal's Jeffrey Trachtenberg.
One of Google's major priorities has been the transformation of Google Maps and the Zagat-powered Google+ Local into a Yelp and Facebook killer. Frommer's databases are also used by Kayak to help fuel hotel searches. Although the last few years have been rough for print travel guides as the Internet ate away at their past dominance, Frommer's has extensive brand recognition and a large network of contacts throughout the travel and hospitality industries.
IBM Plans Research Lab In Kenya
Nairobi will play host to a new IBM research lab, one of 12 sprinkled worldwide. The lab will focus on tech innovations focused on solving local problems, while keeping costs low, IBM's senior VP of research, John Kelley, told the New York Times. IBM plans to have 50 members working at the facility in five years.
Google Faces U.K. Heat For Possible Tax Avoidance Issues
Google revealed, in its last financial release, that it paid just £6 million in tax to the U.K. authorities despite the fact the web giant's British operation turned over £395 million in 2011. Now the company is facing heat from the government, with a Labor MP of the Treasury Select Committee (an inner group in government responsible for some fiscal policy) condemning Google's low tax rate as "entirely immoral." Google's executives are likely be pulled before the Committee to explain their actions.
Google's British wing is run as a subsidiary of its Irish section, making the most of Ireland's low tax rates which are designed to spur high tech innovators to choose to base themselves in the nation (resulting in Dublin earning, to some, the status of Europe's silicon valley). Google has defended its tax payments as being within U.K. law.
Google rival Apple faced deep criticisms recently for pulling a so-called "double-Irish, with a Dutch sandwich" tax maneuver that also results in the company paying reduced tax in the U.S.
Olympic Athletes Win Big On Social Media
The results are in. The 2012 London Olympics were the most actively followed on social media so far. Twitter has swelled, and Facebook has grown to 900 million active compared to 400 million during the 2010 Winter Olympics and 100 million during the 2008 summer games in Beijing.
New figures from Wildfire, the social ad firm that Google recently acquired, found that star athletes--Usain Bolt from Jamaica, Roger Federer from Switzerland and Russia's Maria Sharapova--powered their home nations to the top three spots for countries with the most global reach. U.S. gymnast Gabby Douglas picked up a record number of Facebook followers--more than 550,000 in the month since mid-July, Wildfire says, leaping from 14,000 followers to 582,912 by August 12. Marcel Nguyen and Camille Muffat came in second and third place, each crossing 194,000 and 124,000 Facebook followers by the time the games closed.
Twitter says that the Olympics fueled 150 million tweets in total, spiking at 80,000 tweets per minute during Usain Bolt's closely watched 200 meters race. Bolt, followed by Michael Phelps and Tom Daley took the top spots on the Most Tweeted About list. A report from Starcount says Phelps added 1 million Twitter followers putting his total fan count at 1.2 million. Douglas, at last count, has a little over 650,000 followers on Twitter.
Facebook and Twitter, social media organizers like Shazam, and news organizations like the BBC and NBC News have been bending over backwards to collaborate at this summers' games, to tap into this accelerated engagement.
Bluefin Labs, the TV social media analytics firm has jumped in with numbers on how they performed. Bluefin says it recorded 36 million tweets and comments related to NBCU coverage of the games. In total, anywhere, Bluefin counted 86 million Olympics-related tweets and Facebook comments fly between July 27 and August 12.
FTC Finds Facebook's "Verified Apps" Scheme Unverifiable
An FTC investigation into Facebook's security and privacy activities has thrown up some red flags. For six months in 2009 Facebook charged developers to enroll their apps in a verification program. An FTC report suggests that Facebook pocketed the cash but did not carry out the suggested extra checks. (Facebook ended the program after the six-month period.) The first details about the Verified Apps program came to light when the FTC first published its report in November 2011, which led Facebook and the FTC to a settlement. Among the terms of that settlement, Facebook agreed to be audited every 20 years. The settlement was finalized on Friday.
Developers paid an extra $375 (or $175 if the developer was a student or belonged to a nonprofit organization) and would receive a Verified App badge and green check mark at the end. Facebook earned $95,000 through the scheme, the Guardian reports.
"In many instances Facebook has permitted a Platform Application to display its Verified Apps badge when its review of the application’s security has not exceeded its review of other Platform Applications," the FTC explains in its report. In doing so, the FTC suggests that Facebook deceived developers as well as Facebook users.
Motorola Mobility To Cut Staff By A Fifth, Close One Third Of Offices
Motorola Mobility announced on Sunday that it is going to slash around 20% of its global workforce and will also shut down a third of its offices. This equates to about 4,000 staff, one third of which will be in the U.S., along with reduced focus on its Chicago and Sunnyvale R&D efforts. There's also a simultaneous restructuring of the company's executives.
The cost-cutting and restructuring are part of efforts to reshape Motorola Mobility, the part of Motorola that is essentially its handset business, in order to align with the needs of its new owner Google. Google bought the ailing business for $12.5 billion, possibly more for its patents than its other assets, and the company has continued to deliver losses in the weeks since the deal finally closed.
Greece is squeezed more as GDP plunges, Germany threatens
The economic free fall in Greece continued in the second quarter, with an annualized 6.2% contraction in gross domestic product that renders it more difficult for the government to meet fiscal obligations. In Germany, meanwhile, a key parliamentary ally of Chancellor Angela Merkel said that any failure by Greece to meet its targets would bring a swift veto from Berlin for any additional assistance.
Most U.K. companies plan layoffs if economy remains sour
If the U.K. economy doesn't turn around in the next year, nearly two-thirds of British companies say they plan to reduce their workforces, a survey finds. U.K. employment is somewhat better than the European average, but the survey revealed that nearly a third of British companies say they're currently keeping on more staff than they need; many of them are doing so to maintain their skill base in the event of an upturn.
Japan's recovery looks frayed as growth rate declines
Although exports were up 4.8% in the latest quarter, Japan's growth in gross domestic product was down sharply at an annual 1.4%, dropping from a rate of 5.5% in the previous period. The global economic crisis figured strongly in the new figures, but so did a pullback in previously robust domestic demand. The government says the nation's recovery remains on track, but analysts say there are growing signs of fading optimism among both businesses and consumers.
Taiwan nears accord with China on renminbi clearance
Taiwan is expected to join Hong Kong and Macao as the only global venues with offshore renminbi clearance banks when China and Taiwan sign a memorandum of understanding for cross-strait currency clearance. The signing could come as early as this week, pending reviews by the two central banks.
Market Activities
INTERNATIONAL MARKETS OVERVIEW
European shares fell as worries over the eurozone and the global economic slowdown once again took hold in the absence of previously hoped-for central bank action. In the U.S., shares were down as well for much the same reason, with a particular focus on whether the market should expect any help from the Federal Reserve. The Euro Stoxx 50 index was down 0.3% for the day, and the S&P 500 ended 0.13% lower. Here is a continuously updated list of global stock indexes.
Economic Trends & Outlook
As economic numbers fade, Beijing may remain cautious
Analysts now expect China will fall short of its goal of 10% trade growth this year. Nonetheless, expert opinion is divided over whether Beijing will move more aggressively to stimulate the economy or wait to see whether previous measures bear fruit. Certainly, caution appears to be the order of the day in China's housing market, where Beijing is planning for higher property taxes.
India central bank chief highlights inflation, blames government
Pointing a finger at the Indian government, the central bank's governor, Duvvuri Subbarao, said inflation remains a pressing concern and called on New Delhi "to generate supply so that we produce more, and that will bring down inflationary pressures." Subbarao also cited the problem of deficit spending that is "going into government expenditure, which is consumption expenditure that's going into people's hands," increasing demand and raising prices.
With global gloom deepening, Hong Kong cuts growth forecast
Hong Kong has scaled back its growth forecast for the year to 1% to 2% after posting 1.1% annual growth for the second quarter. The export-heavy economy has been hit hard by the worldwide economic slowdown, especially in Europe. "With the crisis in the eurozone set to intensify, we expect global weakness to continue to depress Hong Kong's export sector, making a strong rebound in the economy unlikely," said Gareth Leather, an economist with Capital Economics Asia.
Having matured in their own markets, SE Asian companies reach out
Following a pattern set by powerhouse companies elsewhere in Asia, prosperous Southeast Asian firms are now looking for room to grow and expand outside their crowded home markets. The search is adding to asset prices across a range of industries and stepping up global competition. "There's a lot of economic power sitting in Southeast Asia, and this is being reflected in the companies," said Rajiv Biswas, Singapore-based chief Asia economist for IHS Global Insight.
Capital Markets & Financial Products
Australia plans sharper watch over automated trading
Australia plans sharper watch over automated trading
Taking a cue from market mishaps elsewhere, Australia is planning tighter controls over automated share trading, including regular tests to ensure systems operate properly.
Bank of Communications wins clearance for share sales
In a development described as freighted with "great significance" for China's financial sector, China's securities regulator has cleared Bank of Communications to sell as much as 56.6 billion yuan of publicly traded shares to private investors. The bank, which intends to replenish capital with the sale, has selected a number of investors, including the Ministry of Finance, the pension fund and large institutions such as HSBC.
Julius Baer moves strongly into Asian markets with acquisition
Greatly expanding its presence in Asian growth markets, Julius Baer is acquiring Bank of America Merrill Lynch's overseas wealth-management business. The $882 million purchase means that half of the Swiss bank's business will be in emerging markets, mainly in Asia.
Global ills weigh heavily on results at South Korean securities firms
A sharp decline in stock trading value due to the eurozone crisis and global slowdown has proved costly for South Korean securities firms, whose net profits are down 72.7% in the latest quarter from a year before. And out of 62 brokerages, 21 reported losses for the period.
PE funds help Chinese companies struggling in U.S. market
With many Chinese stocks struggling in the U.S. market, the state-owned China Development Bank is helping those seeking to go private by providing funds for private-equity groups. "If you can distinguish between a good company and a company that has issues, you can do very well investing in China," observed Kevin Pollack of Paragon Capital in New York.
Yuan-against-dollar market bets reflect confidence in China
Securities that bet against the dollar and in favor of the yuan are selling well as volatility in the yuan-dollar exchange rate hovers near a 10-year low. The popularity indicates underlying confidence in the yuan and the Chinese economy despite recent signs of slowing.
Analyst sees China slowdown, bets on Europe
China's economy is in for a rough spell, and European stocks at the moment are worth buying, says Marc Faber, publisher of the Gloom Boom & Doom report. Faber says the time to consider Chinese shares is after waiting to see whether stimulus measures work. Meanwhile, "for the first time in my life, I've started to buy some European stocks, and I will buy more over time," Faber said.
Industry & Regulatory Update
CITIC Securities shares drop amid reports of arrest, overseas loss
CITIC Securities shares drop amid reports of arrest, overseas loss
CITIC Securities dismissed as unfounded rumor a report that its chairman, Wang Dongming, has been seized by police for investigation. A report also surfaced of a large loss on an overseas investment as the company's stock plunged more than 9%.
Settlement talks under way with Standard Chartered
With New York state regulators and Standard Chartered said to be eager to reach agreement, the bank is seeking a settlement over allegations of illegal dealings with Iran.
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Soha Ali Khan's highly uncomfortable molestation scenes
In her upcoming film based on child trafficking, she plays an NRI, who gets molested by a group of goons. Our source says, “Soha was emotionally drained while shooting the sequence. In this particular scene, the goons drag her down to the floor and rip off her shirt and manhandle her.”
Producer Vibha Dutta Khosla adds that being a thorough professional, Soha understood that the scene was essential to the storyline and immediately agreed to shoot for it. Assistant director Ramzan who was present during the shoot says, “While doing the scene, Soha was badly bruised and even had to take medical aid.”
( Mid-Day.com)
Poonam Pandey Bathing Pics #BathLikePoonamPandey
"Love it when the bath is that hot it steams the whole bathroom" she tweeted, also she compared herself with Pamela Anderson in Baywatch "Pamela was in Baywatch, and I am here in Soapwatch". She is trying to please Rain God with this, What can be said about her? She is really making her presence known, across the globe. ( Page is updated regularly )
Being super famous after stripping and posing nude for KKR victory in IPL 2012, Indian model Poonam Pandey posted her Bikini Photo Shoot pics.
"Love it when the bath is that hot it steams the whole bathroom" she tweeted, also she compared herself with Pamela Anderson in Baywatch "Pamela was in Baywatch, and I am here in Soapwatch". She is trying to please Rain God with this, What can be said about her? She is really making her presence known, across the globe. ( Page is updated regularly )
Being super famous after stripping and posing nude for KKR victory in IPL 2012, Indian model Poonam Pandey posted her Bikini Photo Shoot pics.
In a recent photo shoot in bikini, Poonam Pandey once again drew a lot of attention over the web after she has posted a Bikini Photo Shoot Pics and twitted "Shooting my first bikini shoot this Afternoon..so weather is like you to sky rocket to 30 degrees in 30 mins" Also some more tweets include “For men, staring at a woman's breasts can increase heart health."
Check out the latest Bikini Photo Shoot Pics from Poonam Pandey
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| (Images : Twitter.com, Twitpic.com) |
