Social network LinkedIn plays down lawsuit brought in the wake of online password leak June 20, 2012 THE SOCIAL networking site LinkedIn has talked down a $5m (£3.18m) lawsuit after Russian hackers leaked members’ passwords. Earlier this month, 6.5m passwords for the website were hacked, and the lawsuit claims LinkedIn cut corners on security measures. The network is the largest professional one of its kind and holds the private information of over [...]
Retail bonds considered for compensation January 23, 2013 PROVIDERS of a new high-profile investment product are actively lobbying to be included in a government-run compensation programme, City A.M. has learned. Oliver Cardigan, a director at Numis Securities, said his company has had discussions with “top people in government” in the hope of extending consumer protection to retail bonds. Numis want the FSA-controlled Financial Services [...]
German bank’s £500m blunder over F1 shares February 11, 2013 ONE of Germany’s most bailed-out banks turned down the chance to make hundreds of millions of pounds in profits by buying a 10 per cent stake in Formula One at a bargain price of £63.3m ($100m), according to recently released legal filings. The purchase would have yielded a profit of more than £500m for German [...]
Ericsson seeks US ban on Samsung December 3, 2012 Swedish telecoms gear maker Ericsson has filed a request with the US International Trade Commission to ban US imports of products made by South Korean group Samsung. The request from Ericsson, which said yesterday the products infringe on its patents, came after it sued Samsung for patent infringement in a US court last week. Samsung [...]
Apple and HTC make peace in global smartphone patent war November 11, 2012 APPLE and Taiwanese rival HTC have settled a patent battle over mobile phone technology and announced a 10-year licensing agreement, putting an end to a global dispute that has dragged on for two years. The firms announced the deal in a surprise joint statement yesterday. They did not reveal details, except to say that the [...]
Ericsson and Samsung in patent wars as licensing talks collapse November 27, 2012 ERICSSON, the world’s biggest telecom network equipment maker, said it was suing Samsung Electronics for patent infringement after two years of talks failed to yield a licence agreement. Sweden’s Ericsson, which reckons more than 40 per cent of the world’s mobile traffic passes through its networks, filed a lawsuit in the United States saying Samsung [...]
Libor needed reform – but state control of market information is dangerous February 6, 2013 A£390M Libor fine for RBS and a $5bn (£3.2bn) US government lawsuit against Standard & Poor’s. In both the ongoing Libor and credit rating agency sagas, previously free and private information services are being pulled under regulatory control. The unwritten rule is that markets depend on information, that information should be competitively-provided, and that information [...]
What the other papers say this morning January 23, 2013 FINANCIAL TIMES GMG ends talks to sell Trader stake Guardian Media Group has called off talks with interested buyers over the sale of its half stake in the car classifieds company Trader Media Group following a failure to agree a price. Apax, its joint venture partner in Trader Media, was interested in buying out the [...]
JP Morgan hit by two investor lawsuits over $2bn trading loss May 16, 2012 JP MORGAN has been hit by two separate lawsuits from shareholders accusing it of excessive risk-taking following last week’s revelation of a $2bn trading loss due to a “failed hedge strategy”. Jamie Dimon, JP Morgan’s chairman and chief executive, and Douglas Braunstein, the bank’s finance director, are accused of breaching fiduciary duty to investors and [...]
Ivy agrees Madoff scheme payout November 14, 2012 New York investment adviser Ivy Asset Management has agreed to pay $210m (£132m) to settle lawsuits for advising clients to invest in Ponzi schemer Bernard Madoff, the city’s attorney general Eric Schneiderman said yesterday. Ivy, a subsidiary of Bank of New York Mellon, withheld damaging information about Madoff to make millions of dollars in fees, [...]