Apple loses UK court battle on claims Samsung copied iPad October 18, 2012 APPLE failed yesterday to overturn a UK court judgement ruling that Samsung’s Galaxy Tab had not copied the iPad and ordering the Californian firm to run newspaper adverts saying so. The Court of Appeal upheld the High Court’s July verdict that Samsung did not infringe on Apple’s intellectual property, in part because Samsung’s device was [...]
Vedanta says India zinc and iron operation slowed in quarter two October 9, 2012 MINER Vedanta posted a nine per cent drop in metal mined from its Indian zinc operations in its second quarter, and said that saleable iron ore output plunged 86 per cent, hit by mining bans and monsoon travel restrictions. Its zinc India business accounted for over a quarter of Vedanta’s earnings in its last financial [...]
Essar wins delay on tax bill September 13, 2012 ■ Essar Energy’s shares leapt 6.1 per cent yesterday after it got longer than expected to pay a tax bill for its oil subsidiary in India. Essar Oil will now pay back $939m (£583m) over two years from January, after India’s supreme court overturned a demand for payment within six months. Essar has also won [...]
BAA to sell Stansted Airport after dropping legal appeal August 20, 2012 Airport operator BAA today said it would proceed with the sale of London’s Stansted airport after deciding not to challenge a Competition Commission (CC) ruling forcing it to sell the airport. BAA’s challenge to the CC ruling was rejected by the Court of Appeal last month and it was expected to take the case to [...]
Behind bars October 24, 2012 PROSECUTORS yesterday claimed two high-profile scalps in their crackdown on financial services crime, as two former bankers were sent to jail and issued with substantial fines. Rajat Gupta, the former Goldman Sachs director and ex- McKinsey boss whose fall from grace has captivated Wall Street, was sentenced to two years in prison and a $5m [...]
The economic outcomes of a close call election November 5, 2012 FX360 AS AMERICANS go to the polls to decide their President for the next four years, the race is at deadlock, with both candidates still in pursuit of every possible vote. Once the ballots have been counted in the early hours of tomorrow morning, it is hard to imagine that there won’t be some degree [...]
The economic outcomes of a close call election November 5, 2012 FX360 AS AMERICANS go to the polls to decide their President for the next four years, the race is at deadlock, with both candidates still in pursuit of every possible vote. Once the ballots have been counted in the early hours of tomorrow morning, it is hard to imagine that there won’t be some degree [...]
Vodafone shares dip on fears of Indian government tax charge September 17, 2012 SHARES in Vodafone were hit yesterday on renewed speculation that the group will have to set aside $2.2bn (£1.4bn) to cover a tax bill in India over the telecoms firm’s 2007 purchase of China’s Hutchison Whampoa. Vodafone is considering making a provision for the charge in its next round of company accounts in November, chief [...]
Obama’s healthcare victory could prove a poisoned chalice in November July 4, 2012 FOLLOWING the ratification of the US Constitution, Benjamin Franklin quipped that “in this world, nothing can be said to be certain, except death and taxes.” Due to the creative jurisprudence of Chief Justice of the Supreme Court John Roberts, President Barack Obama can be thankful that the death of his health care reforms has been [...]
BAA loses another appeal in its fight to keep Stansted Airport July 26, 2012 BAA has pledged to fight on in its attempts to keep Stansted Airport, despite losing a Court of Appeal hearing yesterday. Judges yesterday upheld the Competition Commission’s 2009 ruling that BAA exerted a dominant hold on airports in Scotland and south east England. BAA, which also owns Heathrow, sold off Edinburgh Airport in April but [...]