Google wins key piracy case in Spain September 23, 2010 GOOGLE yesterday won a landmark ruling when a Spanish judge threw out a claim it should be responsible for pirated content on its YouTube service. Broadcaster Telecinco said it had suffered as a result of hit shows appearing on the video-sharing website before they are broadcast in Spain. But a judge said the anti-piracy measures [...]
Foreclosures dominate bank earnings season October 18, 2010 JUST before third-quarter earnings season kicked off in the US, JP Morgan released a research note on the US banking sector calling banking stocks “attractively valued”. Pointing to improved credit conditions this year, the note was cautiously upbeat, revising near-term estimates upwards. But there was one word missing from the note: foreclosures. In the past [...]
US expects to sue BP over spill September 14, 2010 OIL giant BP learned last night it could be hit by a civil lawsuit from the US Justice Department, as outgoing chief executive Tony Hayward prepares to face MPs over the Deepwater Horizon disaster today. The department said in a court filing on Monday that the US government “expects that it may file a civil [...]
BP delays results in wake of oil spill crisis September 10, 2010 BP said it would delay the release of its third quarter results by a week because of added complexities in its accounts due to costs associated with the Gulf of Mexico oil spill. BP said in a statement that its third quarter results, normally reported on the last Tuesday of the month after the end [...]
Judge rules in favour of eBay over Craigslist rights plan September 9, 2010 A JUDGE yesterday rescinded a protective measure adopted by the board of popular classifieds site Craigslist to block a potential hostile takeover by e-commerce site eBay. eBay had complained that the measure diluted its stake in its smaller rival from 28.4 per cent to 24.85 per cent. In a split ruling, the decision in Delaware’s [...]
Banks drag FTSE down as concerns over US recovery harms sentiment September 22, 2010 BRITAIN’S top shares fell yesterday, led by banks as worries over the economic recovery in the US and lack of action taken by the Federal Reserve hit sentiment, offsetting gains in miners. The FTSE 100 ended down 24.28 points or 0.4 per cent at 5,551.91, after falling 0.5 per cent on Tuesday. The US central [...]
AstraZeneca pays $198m to drug victims August 9, 2010 AstraZeneca yesterday agreed to pay $198m (£124m) to settle 17,500 cases brought by patients claiming side effects from its anti-psychotic drug Seroquel. The Anglo-Swedish drugs giant faces ongoing litigation over claims its best-selling drug, which is used to treat schizophrenia and bi-polar disorder, also carries an increased risk of passing on diabetes. Seroquel, which last [...]
BP cases to be heard near Gulf August 10, 2010 Lawsuits against BP following the Gulf of Mexico oil leak will be heard in New Orleans, a judicial panel said yesterday. BP had argued for the cases to be heard in Texas, a state traditionally more sympathetic to the interests of oil firms. The news comes as the oil giant suspended work on a relief [...]
BEST OF THE BROKERS September 2, 2010 PERNOD RICARD Standard & Poor’s rates the drinks firm a “buy” with a target price of €72, adding the company’s recent results proved its theory of an improving trend in underlying sales. The broker has raised its earnings per share forecast for 2010 to reflect currency benefits, and said sales in emerging markets are performing [...]
Focus on EMI trial November 4, 2010 JUDGE JED RAKOFF Jed Rakoff provoked the ire of Wall Street when he rejected Bank of America’s $33m attempt to settle a dishonesty probe last year, describing such offers as “half-baked justice at best”. He redeemed himself in the eyes of one American bank yesterday, though his merciless courtroom treatment of long-winded witnesses gained him [...]