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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Pace in talks to buy TV-box arm of MMI from Google in reverse takeover

Category : Business

British manufacturer Pace confirms it is in talks to buy set-top box division of Google’s Motorola Mobility in $2bn deal

The British manufacturer Pace has confirmed it is in talks to buy the set-top box division of Google’s Motorola Mobility (MMI) subsidiary in a reverse takeover that could be worth up to $2bn (£1.2bn).

The Bradford-based company is understood to be among the front-runners for the profitable part of the Motorola business, which sells set-top boxes and systems to cable TV firms in the US.

Other bidders are understood to include Arris Group, an internet access company based in Suwanee, Georgia, and Technicolor SA, a video technology business, as well as some private equity firms.

Google spent $12.5bn buying MMI in August, acquiring a loss-making mobile phone division and a profitable set-top box division. Google sought to sell the latter almost at once, while it has been cutting back extensively on staffing and locations for the mobile phone business.

For Pace, getting a firmer foothold and solid reach in the US would strengthen its business.

In a statement, Pace said: “Discussions with Google are currently at a preliminary stage and there is no certainty as to whether any agreement regarding any transaction will be reached.”

The “Home” division of MMI, which is up for sale, generated revenues of about $900m per quarter and profits of about $50m per quarter in the two years ahead of the Google acquisition, while the mobile phone division, which Google is keeping had revenues of about $2.4bn but consistently made losses of about $80m.

No deadline has been set for completing the acquisition, and Google may want to hold on to the patents owned by the set-top business in order to fend off lawsuits from other companies as it seeks to expand its own Google TV business.

There is also an ongoing lawsuit between MMI and TiVo, a set-top box maker that provides personalised TV recommendations.

Google’s prime reason for buying MMI was to gain access to its portfolio of thousands of mobile and wireless patents to protect its Android software from lawsuits – though none has yet proved decisive in any legal case.

Pace shares were suspended from trading because the acquisition would be a reverse takeover under UK rules.

Ericsson in Samsung patent claim

Category : Business, World News

Ericsson files a lawsuit in the US against South Korea’s Samsung Electronics for allegedly infringing its patents.

See the article here: Ericsson in Samsung patent claim

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New York sues Credit Suisse in latest mortgage lawsuit

Category : Stocks

New York Attorney General Eric Schneiderman filed a lawsuit Tuesday against Credit Suisse, alleging that the bank repeatedly defrauded investors in sales of mortgage-backed-securities.

Read more from the original source: New York sues Credit Suisse in latest mortgage lawsuit

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Lawsuit filed against New York ban on large sugary drinks

Category : Business

Lawsuit filed by soft drink makers and restaurant group says Board of Health overstepped authority when it passed regulation

Soft drink makers and a restaurant group filed a lawsuit on Friday seeking to block New York mayor Michael Bloomberg’s ban on large sugary drinks.

The mayor’s board of health overstepped its authority when it passed the regulation, the lawsuit said.

The plaintiffs include the American Beverage Association and the National Restaurant Association, along with a number of unions and pro-business groups.

The ban, the first of its kind in the United States, outlaws the sale of sugary drinks larger than 16 ounces everywhere in New York City except grocery and convenience stores. It is the latest step in Bloomberg’s quest to combat obesity. Previously, he has required chain restaurants to post calorie counts on their menus and banned trans fats.

The soft drink and restaurant industries claim the ban is an infringement of personal freedom and cite polls that show a majority of New Yorkers oppose the restriction. A legal fight has been expected ever since Bloomberg proposed the ban in May.

The lawsuit, filed in state court in Manhattan on Friday, asks the court to bar the law before it can take effect next March.

“This case is not about obesity in New York City or the motives of the board of health in adopting the rule being challenged,” the lawsuit said. “This case is about the board of health, appointed by the mayor, bypassing the proper legislative process for governing the city.”

The lawsuit claims the rule is “arbitrary and capricious”, because it applies only to some businesses and targets only certain types of beverages.

“Delis and hotdog stands are barred from selling a 20-ounce lemonade, but the 7-Eleven a few feet away remains free to sell Big Gulps,” the lawsuit said.

Several legal experts, however, have said they expect any court challenge to face an uphill battle, given the health department’s power to regulate eateries in the city.

Marc LaVorgna, Bloomberg’s chief spokesman, said the “predictable, yet baseless” lawsuit will put an even greater spotlight on an obesity epidemic that kills 6,000 New Yorkers a year.

City officials have cited public health statistics showing that 58% of the city’s adults and nearly 40% of public school students are obese or overweight.

The ban defines a sugary drink as a beverage that includes sugar or another caloric sweetener, has more than 25 calories per eight ounces, and does not contain more than 50% of milk by volume.

US bank settles Merrill lawsuit

Category : World News

Bank of America pays $2.43bn (£1.5bn) to settle a lawsuit over its acquisition of Merrill Lynch.

Read more from the original source: US bank settles Merrill lawsuit

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Google faces German mobile ban

Category : World News

Motorola may have to recall mobile devices in Germany after losing a lawsuit against Apple, while Samsung suffers a setback in its patent battle with Apple.

Read the original here: Google faces German mobile ban

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Gevo ([[GEVO]] -0.75%) plans to today file a preliminary injunction seeking to halt Butamax Advanced Biofuels and duPont ([[DD]] +0.6%) from "infringing" upon a Gevo patent covering the low-cost production of isobutanol. The chemical is…

Category : Stocks, World News

Gevo (GEVO -0.75%) plans to today file a preliminary injunction seeking to halt Butamax Advanced Biofuels and duPont (DD +0.6%) from “infringing” upon a Gevo patent covering the low-cost production of isobutanol. The chemical is used in the manufacture of a variety of products, including gasoline blendstock and soft-drink bottles. Gevo’s request will follow a lawsuit it filed in March. (PR) Post your comment!

See the article here: Gevo ([[GEVO]] -0.75%) plans to today file a preliminary injunction seeking to halt Butamax Advanced Biofuels and duPont ([[DD]] +0.6%) from "infringing" upon a Gevo patent covering the low-cost production of isobutanol. The chemical is…

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Las Vegas Personal Injury Lawyer at Bernstein & Poisson Wins Trial Against a Doctor Arising From a Breast Augmentation Surgery

Category : Stocks, World News

The Attorneys at Bernstein & Poisson Hereby Announce That the Injury Lawyers at the Firm Have Obtained a Jury Verdict on Behalf of Their Client; A Las Vegas Jury Awarded $420,696.89 in Damages in This Nevada Lawsuit

Continued here: Las Vegas Personal Injury Lawyer at Bernstein & Poisson Wins Trial Against a Doctor Arising From a Breast Augmentation Surgery

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The Entrepreneur Who Pushed Back on Swipe Fees

Category : World News

Mitch Goldstone, the business owner who filed a lawsuit against Visa, MasterCard, and others for price-fixing, details what he’d like to see happen once the settlement is approved

Go here to read the rest: The Entrepreneur Who Pushed Back on Swipe Fees

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Research in Motion loses $147m patent case

Category : Business

Mformation Technologies may now seek royalty on future uses of its technology and might go after other firms such as Apple

A federal jury in San Francisco has found Research In Motion liable for $147m (£95m) in damages for infringing on patents held by a US software company.

Further costs could lie ahead if Mformation Technologies seeks a royalty on future uses of the technology, which covers wireless management of devices so corporate customers can remotely upgrade software, change passwords or wipe data from stolen phones. RIM said it may appeal.

The BlackBerry maker has been relying on its corporate client base to keep up revenues as it tries to regroup and recover from two quarters of losses and a dwindling market share among US consumers. Analysts wonder whether it will run out of cash before it can complete a turnaround.

Todd DeLaughter, Mformation’s chief executive, declined to say whether his company would go after other companies that incorporate similar technologies in their devices, notably Apple, whose iPhone and iPad have a similar remote access and wipe facility.

Mformation was awarded $8 for each user of BlackBerry Enterprise Server (BES) version 4 since the lawsuit was filed in October 2008. It covers 18.4m corporate BlackBerrys connected to BES, which also encrypts content between server and device. Mformation had demanded $12 per two years’ use.

The company may now sue in Europe, where it holds a patent for the same technology. Asked whether he was worried the verdict could hasten RIM’s demise, DeLaughter said: “When BES 4 started shipping, RIM was a healthy company. This suit should never have gone to court. It should have been settled three years ago.”

RIM’s share price briefly dipped below $7 on Monday before recovering to $7.07, after closing on Friday at $7.22. Its stock has lost nearly 95% of its value compared with its $144 peak in June 2008.

The company said: “RIM is disappointed by the outcome and is evaluating all legal options. Additionally, the trial judge has yet to decide certain legal issues that might impact the verdict. RIM will await those rulings before deciding whether to pursue an appeal.

“RIM has worked hard for many years to independently develop its leading-edge BlackBerry technology and industry-leading intellectual property portfolio, and RIM does not believe that the Mformation patent in question is valid.”

DeLaughter said he agreed with commentators who argue that software patents are an obstacle to business in the US, but added: “In our case we are a software company, it’s core to the lifeblood of our business. To let that technology’s use go uncompensated would be damaging.

“The notion of all the lawsuits going on between handset makers is concerning,” he said. “But if the courts and the system doesn’t allow entrepreneurs and innovators to protect their ideas, then there won’t be innovation.” DeLaughter said Mformation had suffered material loss through not being able to close sales because of RIM’s use of similar technology.

It is the second big patent loss in RIM’s history. In March 2006 it settled a five-year dispute with NTP for $612.5m.

RIM’s US market share of smartphone shipments dropped from 41% in 2007, the year the first iPhone came out, to below 4% in the first three months of this year, according to the research firm IDC.

There have been repeated delays to its BlackBerry 10 operating software, which is intended to help it catch up to rivals such as the iPhone and smartphones running Google’s Android software. Devices with the new software miss the Christmas shopping season and will face even more competition when they do go on sale, including a new iPhone expected this autumn.