02072016Sun
Last update: Sun, 07 Feb 2016 01pm

Industries & Sectors

Business & Finance - Industries & Sectors

Patent case jury orders Apple to pay more than $625mn SAN FRANCISCO: A Texas jury on Wednesday said that Apple should pay $625.6 million for violating patents held by a US company devoted to patent litigation.Jurors in a federal court agreed that Apple had infringed on VirnetX Holding Corporation patents in its iMessage and FaceTime services as well as in its VPN on Demand, according to VirnetX attorneys."We are surprised and disappointed by the verdict and we're going to appeal," Apple said in an email response to an AFP inquiry."Our employees independently designed this technology over many years, and we received patents to protect this intellectual property."The four VirnetX patents at issue in the case have been found invalid by the patent office, according to Apple."Cases like this simply reinforce the desperate need for patent reform," the California-based company contended.VirnetX Holding Corporation makes the bulk of its money through patent litigation.Company's that hold patents to make money from lawsuits instead ...

Business & Finance - Industries & Sectors

Miner South32 flags $1.7bn writedown, South Africa job cuts SYDNEY: Mining giant BHP Billiton's South32 spin-off Thursday announced $1.7 billion in asset writedowns and said it would axe hundreds of jobs at a South African facility and slash costs and production as commodity prices dive.Miners across the world have seen their bottom lines sag as prices for key metals tumble, with even the bigger players slashing costs to maintain profit levels.""We are... not immune to external influences and the significant change in the outlook ...

Business & Finance - Industries & Sectors

Yahoo strategy falls flat on Wall Street SAN FRANCISCO: Yahoo shares tumbled Wednesday in a sign that investors were skeptical about the faded Internet star's latest plan to return to glory.The shares dropped as much as nine percent early in the Wall Street session but pared losses to end the official Nasdaq trading day down 4.75 percent to $27.68.Yahoo on Tuesday said it was cutting 15 percent of its workforce and narrowing its focus as it explores "strategic alternatives" for the future ...

Business & Finance - Industries & Sectors

Honda expands Takata air bag recall again in North America DETROIT/WASHINGTON: Honda Motor Co is expanding its recall in North America of late-model vehicles equipped with potentially defective Takata air bags, in a move that could affect around 2.3 million vehicles.The Japanese automaker sent dealers in the United States a letter on Jan. 30, informing them of its intent to recall about 2 million Honda and Acura vehicles over air bag problems, a Honda dealer said on Wednesday. Automotive News had reported the upcoming recall ...

Business & Finance - Industries & Sectors

Yahoo strategy fails to win over Wall Street SAN FRANCISCO: Yahoo shares tumbled Wednesday in a sign that investors were skeptical about the faded Internet star's latest plan to return to glory.The shares dropped as much as nine percent early in the Wall Street session but pared losses to trade down 4.4 percent to $27.78 about 2000 GMT.Yahoo on Tuesday said it is cutting 15 percent of its workforce and narrowing its focus as it explores "strategic alternatives" for the future of the ...

Business & Finance - Industries & Sectors

Toyota gives up on millennial/hipster brand Scion DETROIT: Toyota said Wednesday it will drop its Scion brand, the often-quirky line of cars it launched in the United States 13 years ago targeted at American millennials and hipsters.The world's largest automaker said it will stop selling cars under the Scion name by summer, and instead merge them back into its main fleet for the US market.Jim Lentz, chief executive of Toyota Motor North America, said the Japanese automaker's decision to eliminate the Scion ...

Business & Finance - Industries & Sectors

Google expands self-driving car testing to Washington State WASHINGTON: Alphabet Inc said Wednesday its self-driving car project will expand testing to Kirkland, Washington later this month, the third city where it is testing autonomous vehicles.The company's Google unit has conducted autonomous vehicle testing for six years in Mountain View, California, where it is based, and it expanded testing to Austin, Texas last summer.Google said in a statement that one reason for the new site in the northwest United States is to gain experience ...