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Philips ordered to pay $467mn in Masimo patent trial NEW YORK: A US jury on Wednesday ordered Dutch electronics giant Philips to pay $466.8 million to the American corporation Masimo for violating two medical device patents.The eight members of the Delaware jury gave their verdict after a two-week trial, which came after California-based Masimo had filed a complaint in February 2009.Jurors also found that Masimo had not infringed a Philips patent, as the Dutch firm had claimed."We are very disappointed in the verdict and will appeal this decision of the jury," Philips spokesman Steve Klink said in a statement."We remain convinced that Philips has not infringed any valid, enforceable patent claims of the two asserted Masimo patents."AFP could not immediately reach a Masimo spokesperson for comment. The case involved patents related to pulse oximetry, a non-invasive technique of determining oxygen levels in blood.Masimo shares closed 12.88 percent higher in New York, at $24.02.Copyright AFP (Agence France-Presse), 2014

Yields fall as global growth outlook falters NEW YORK: US Treasuries rallied on Wednesday as Germany sold new bonds at record low yields, after weak factory data in Europe and Asia increased concerns about slowing global growth.Short covering by investors betting on yield increases heading into Friday's highly anticipated US jobs report for September was seen adding to the Treasuries rally. Concerns after the first diagnosis of a patient in the United States with Ebola may have also added a safety bid.Treasuries ...

BoE to wait until early 2015 to hike rates, sterling steady BANGALORE: British interest rates will rise from record lows early next year as the UK economic recovery outpaces Europe's and inflation picks up, a Reuters poll of economists forecasts on Wednesday.Although Bank of England Governor Mark Carney recently said a hike is getting nearer, only six of 60 economists polled this week expect it to happen this year, 48 forecast it in the first quarter of next year. Six see it coming later.Recent strength in ...

British regulators launch probe into Tesco profit error LONDON: Britain's financial watchdog on Wednesday launched a full probe into Tesco after the troubled supermarket massively overestimated its half-year profits forecast by £250 million ($409 million, 318 million euros)."The Financial Conduct Authority has notified Tesco that it has commenced a full investigation following the overstatement of expected profit for the half year," the FCA said in a statement.Copyright AFP (Agence France-Presse), 2014

Three Japan lenders, Bangkok Bank receive limited Myanmar bank licences TOKYO: Three major Japanese banks are among foreign banks that have been granted limited operating licences in Myanmar, a move that Myanmar's government hopes will spur foreign investment in an economy emerging from decades of military rule.Bank of Tokyo Mitsubishi UFJ, the core banking unit of Mitsubishi UFJ Financial Group has won one of the licences, a spokesman for the lender said on Wednesday.Banking sources also said that the core banking units of Sumitomo Mitsui ...

New privacy battle looms after moves by Apple, Google WASHINGTON: A new battle is brewing over privacy for mobile devices, after moves by Google and Apple to toughen the encryption of their mobile devices sparked complaints from law enforcement.The issue is part of a long-running debate over whether tech gadgets should have privacy-protecting encryption which makes it difficult for law enforcement to access in time-sensitive investigations.FBI director James Comey reignited the issue last week, criticizing Apple and Google for new measures that keep smartphones ...

Samsung rejects claims of Galaxy Note defect SEOUL: Samsung on Wednesday rejected claims that its new oversized smartphone had a defect, after some customers posted pictures of a gap between the frame and display panel.The South Korean electronics giant, which had poked fun at rival Apple over reports that its new iPhone model was susceptible to bending, said the "Gapgate" complaints concerning the Galaxy Note 4 were groundless.After the "phablet" went on sale in China and South Korea on Friday, a number ...


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Foreign Debt $61.805bn
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