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| BlackBerry wins court order against TV host Ryan Seacrest's Typo Friday, Mar 28, 2014 08:13 PM PDT  (Reuters) - BlackBerry Ltd won a preliminary injunction on Friday to ban Ryan Seacrest's Typo Products LLC from selling a $99 iPhone case after a judge agreed that television host's company had likely infringed on BlackBerry's patents. U.S. District Judge William Orrick in San Francisco said that the Canadian mobile phone maker had established a "likelihood" of proving that Typo infringed its patents, while mentioning that Typo had not sufficiently challenged the patents in question. The preliminary injunction prohibits Typo from the sale of its keyboard, which is a part of the relief sought by Blackberry. "BlackBerry is pleased that its motion for a preliminary injunction against Typo Products LLC was granted. Full Story | Top |
| Fresh objects seen in new Malaysia jet search area Friday, Mar 28, 2014 06:54 PM PDT  Australian authorities coordinating the operation moved the air and sea search 1,100 km (685 miles) north on Friday after new analysis of radar and satellite data concluded Malaysia Airlines Flight MH370 travelled faster and for a shorter distance after vanishing from civilian radar screens on March 8. Five international aircraft spotted "multiple objects of various colors" in the new search area some 1,850 km (1,150 miles) west of Perth, the Australian Maritime Safety Authority said on Saturday. Malaysia says the Boeing 777, which vanished less than an hour into a flight from Kuala Lumpur to Beijing, was likely diverted deliberately but investigators have turned up no apparent motive or other red flags among the 227 passengers or the 12 crew. Full Story | Top |
| Isotope supplier Nordion to go private in $727 million deal Friday, Mar 28, 2014 06:33 PM PDT (Reuters) - Sterigenics, a sterilization services provider owned by private equity firm GTCR LLC, has reached a deal to buy Canadian medical isotopes supplier Nordion Inc for $727 million. The offer of $11.75 per share represents a 12 percent premium to Nordion's closing price on the New York Stock Exchange on Thursday, the companies said. "That's basically what our fair value was (for Nordion), so we think they're getting a fair price," Morningstar analyst David Krempa said. Nordion's U.S.-listed stock trades at 8.3 times forward earnings, a slight discount to the sector median of 11.4. Full Story | Top |
| U.S. judge OKs class action in e-book suit against Apple Friday, Mar 28, 2014 06:27 PM PDT  By Joseph Ax NEW YORK (Reuters) - A federal judge in New York granted class certification on Friday to a group of consumers who sued Apple Inc for conspiring with five major publishers to fix e-book prices in violation of antitrust law. U.S. District Judge Denise Cote said the plaintiffs had "more than met their burden" to allow them to sue as a group. She rejected Apple's contentions that the claims were too different from each other, or that some plaintiffs were not harmed because some e-book prices fell. An Apple spokeswoman declined to comment. Full Story | Top |
| Citigroup hurt by negligent auditing on failed stress test: Financial Times Friday, Mar 28, 2014 05:59 PM PDT  (Reuters) - Weaknesses in auditing led to Citigroup Inc failing the U.S. Federal Reserve capital assessments, fueling fears that there is negligence in controls at the U.S. bank, the Financial Times reported on Friday citing executives and others sources familiar with the matter. Executives at Citi are promising better auditing and anti-money laundering processes and will try to allay the concerns that led regulators to veto the bank's plan to return more cash to shareholders, the newspaper reported on its website. Citigroup's Chief Executive Officer Mike Corbat had shown himself to be "overconfident" that he had repaired the bank's rickety relationship with regulators and had "mistaken a 'not bad' relationship for a good relationship," the business daily reported citing a senior executive. Citigroup investors will likely have to wait until at least 2015 to receive an increase in dividends or stock buybacks after the Federal Reserve rejected its plan to return more capital to shareholders, the Wall Street Journal reported. Full Story | Top |
| U.S. judge rules banks must face lawsuit over alleged rate rigging Friday, Mar 28, 2014 05:51 PM PDT  By Dena Aubin NEW YORK (Reuters) - A federal judge in Manhattan has ruled that a group of international banks must face complaints that they violated the U.S. Commodity Exchange Act by manipulating yen-denominated interest rate benchmarks between 2006 and 2010. In a ruling on Friday, U.S. District Judge George Daniels also granted the banks' motion to dismiss related claims against them for antitrust violations and unjust enrichment. The banks, which included Mizuho Bank Ltd, JP Morgan Chase & Co, Barclays Bank AG, UBS AG and Citigroup Inc, were sued in 2012 for allegedly manipulating rates that reflect interest on short-term loans denominated in Japanese yen. The interest rate benchmarks, used for pricing a wide array of financial products, are set each day based on rates submitted by banks as the prevailing market rates or the rates at which they could borrow funds. Full Story | Top |
| Brazilian plane makes emergency landing with no front wheels Friday, Mar 28, 2014 05:30 PM PDT An Avianca Airlines passenger jet safely made an emergency landing in Brasilia on Friday after its front landing gear failed to deploy, authorities said. None of the 49 passengers and crew of five on the Fokker 100 jet were injured when the plane landed on its rear wheels before lowering the nose onto the runway, the Brazilian Air Force said. "The plane suffered a hydraulic problem and the front landing gear did not open, so the pilot did a belly landing," an Air Force spokesman said. Full Story | Top |
| Houston-area man arrested in undercover FBI terrorism sting Friday, Mar 28, 2014 05:21 PM PDT A Houston-area man suspected of leading an anti-government group appeared in federal court on Friday to face charges of trying to rob an armored car with explosives and plotting to blow up U.S. government buildings. Robert James Talbot Jr., 38, of Katy, Texas, was arrested by U.S. agents Thursday after an eight-month federal probe as he was about to rob an armored car with inert explosives provided to him by informants who had entered his group, according to a criminal complaint filed in a U.S. federal court in Houston. Full Story | Top |
| Apple, Google lose bid to avoid trial on tech worker lawsuit Friday, Mar 28, 2014 05:17 PM PDT  By Dan Levine SAN FRANCISCO (Reuters) - A U.S. judge on Friday rejected a request from Apple, Google and two other tech companies to avoid a trial in a class action lawsuit alleging a scheme to drive down wages. Trial is scheduled to begin in May. Apple, Google, Intel and Adobe asked for a judgment in their favor without a trial, arguing that any no-hire agreements between the companies were reached independently, and were not part of an overarching conspiracy. U.S. District Judge Lucy Koh in San Jose, Calif., however, rejected that argument. An Intel spokesman said the company is studying the ruling, and representatives for Google and Apple declined to comment. Full Story | Top |
| Healthy job growth could calm stocks' nerves Friday, Mar 28, 2014 05:15 PM PDT  By Caroline Valetkevitch NEW YORK (Reuters) - If hiring picked up in March at a healthy pace, that could convince U.S. stock investors next week that the economy's recent setbacks caused by the weather were only temporary. Friday's monthly jobs report, the most widely watched U.S. economic indicator, is expected to show that nonfarm payrolls added 200,000 jobs in March, according to a Reuters poll of economists. Employers added 175,000 jobs to nonfarm payrolls in February after creating 129,000 new positions in January. The Institute for Supply Management will release its national surveys for March on the manufacturing and services sectors, which are expected to show improvement from the previous month as well. Full Story | Top |
| GM expands ignition switch recall to 2.6 million cars Friday, Mar 28, 2014 05:13 PM PDT  By Paul Lienert DETROIT (Reuters) - General Motors Co expanded its global recall of cars with defective ignition switches to 2.6 million on Friday, adding 971,000 later-model vehicles due to concerns over faulty replacement parts. About 95,000 faulty switches were sold to dealers and parts wholesalers, of which about 5,000 remain on shelves. Full Story | Top |
| Candy Crush brings IPO market back to earth Friday, Mar 28, 2014 04:59 PM PDT  By Nicola Leske NEW YORK (Reuters) - In the weeks leading up to the IPO of King Digital Entertainment, the company's bankers scrambled to persuade investors that the maker of popular online game "Candy Crush Saga" was more than a one-trick pony, according to a source familiar with the situation. On Tuesday, Facebook Inc said it would pay $2 billion for Oculus VR, a two-year-old virtual reality startup that has yet to put a product on the market. Facebook CEO Mark Zuckerberg described the deal as the social media giant's desire to bet on "the platforms of tomorrow." But for some investors, the deal brought back memories of the Internet boom and bust in 1998-2001, where profitability and other financial fundamentals of companies took the back seat to a raging fad about anything with a dotcom identity, according to the source. Bankers underwriting King Digital's offering had to call in favors with investors who had received large allocations in previous successful IPOs, the source said. Full Story | Top |
| Geopolitical games handicap Malaysia jet hunt Friday, Mar 28, 2014 04:43 PM PDT The search for flight MH370, the Malaysian jetliner that vanished over the South China Sea on March 8, has involved more than two dozen countries and 60 aircraft and ships but been bedeviled by regional rivalries. While Malaysia has been accused of a muddled response and poor communications, China has showcased its growing military clout and reach, while some involved in the operation say other countries have dragged their feet on disclosing details that might give away sensitive defense data. That has highlighted growing tensions in a region where the rise of China is fuelling an arms race, and where several countries including China, Malaysia, Indonesia and the Philippines are engaged in territorial disputes, with the control of shipping lanes, fishing and potential hydrocarbon reserves at stake. The Malaysian Airline jet, which disappeared en route from Kuala Lumpur to Beijing, was last officially detected hundreds of miles off course on the wrong side of the Malaysian peninsula. Full Story | Top |
| Interpol rejects suggestion its passport database is slow Friday, Mar 28, 2014 04:43 PM PDT The international police agency Interpol on Friday rejected a Malaysian suggestion that Interpol's database for checking passport were too cumbersome. Interpol said that although several other countries used the database millions of times each year, the Malaysian immigration department had not checked plane passengers' passports against its database at all this year prior to the disappearance of Malaysia Airlines Flight MH370 on March 8. The agency's statement followed comments made by Malaysia's Interior Minister Zahid Hamidi to parliament on Wednesday that the burdensome nature of the Interpol database slowed down immigration checks. Full Story | Top |
| At edge of Malaysia Airlines search, questions of security and diplomacy Friday, Mar 28, 2014 04:43 PM PDT By Matt Siegel and Jane Wardell PERTH/SYDNEY, Australia (Reuters) - The pot-bellied silhouette of a Chinese Il-76 military transport plane appeared in the sky over Perth International Airport just as the U.S. naval officer was explaining how he guards his cutting-edge surveillance plane. Lieutenant Commander Adam Schantz was ticking off the measures, including a round-the-clock guard and armed rapid response team, as he caught sight of the Chinese aircraft coming in to land a few meters from the U.S. P8 Poseidon for which he is responsible. The search for missing Malaysia Airlines flight MH370 is producing strange bedfellows. At least six countries - the United States, China, South Korea, Japan, New Zealand and Australia - are participating in the search and rescue operation for the flight, which disappeared almost three weeks ago and is believed to have crashed in the southern Indian Ocean off Australia's west coast. Full Story | Top |
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