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Saturday Papers: Jury awards $1bn patent victory to Apple

A US jury found Apple’s arch rival Samsung violated patents used in the iPhone.

Saturday Papers: Jury awards $1bn patent victory to Apple

Top stories

  • The Daily Telegraph: Apple scored a major legal victory last night after a US jury found arch rival Samsung violated patents used in the iPhone and ordered the South Korean company to pay $1.05 billion in damages.
  • The Guardian: US firm may now go after Motorola and HTC, while Android considered likely to continue to dominate smartphone market.
  • Financial Times: The Office for National Statistics reported that UK’s gross domestic product in the three months to June fell 0.5% quarter on quarter, in line with economists’ expectations.
  • The Daily Telegraph: German Chancellor Angela Merkel stressed on Friday that she wants Greece to remain in the euro, but made no mention of any concessions Europe was prepared to offer over its austerity targets.
  • The Independent: Shares in Aga Rangemaster dropped 9% yesterday as it scrapped its dividend in order to bolster its pension fund.
  • The Independent: New figures from the Office for National Statistics point to the biggest slump in business investment in UK in more than three years.
  • Financial Times: Santander has announced plans to raise the cost of mortgage repayments for hundreds of thousands of its borrowers.

Business and economics

  • The Daily Telegraph: HSBC is in talks to settle claims that it helped to launder money for countries under US sanctions, including Iran and Sudan.
  • The Daily Telegraph: South Africa's National Union of Mineworkers has said it will take up the cause of striking rock drillers, 34 of whom died after police opened fire at Lonmin's platinum mine.
  • The Guardian: Cost of phone calls, broadband and line rental to go up from January 2013 as BT charges more for popular products.
  • Financial Times: Morgan Stanley is raising more money from retail investors for a private fund that aims to buy distressed mortgage assets from shrinking financial institutions, including troubled European banks.
  • The Daily Telegraph: Crisis-hit services group Mouchel has gone into administration, enabling it to sell the business to its lenders and management in a deal which will leave shareholders with nothing.
  • Financial Times: Nearly two-thirds of more than 1,000 executives surveyed by the Institute of Directors said they thought there was a “low or zero” probability of the country shaking off the downturn in 2012 compared with 7% who thought it was very likely.
  • The Daily Telegraph: Cutting government spending in a crisis will condemn a country to an even deeper recession and inflict "permanent" damage on the economy, the IMF warns.
  • The Daily Telegraph: Citigroup Private Bank is set to withdraw $410 million from Paulson & Co amid heavy losses at the New York-based hedge fund group.
  • Financial Times: Platinum prices hit a four-month high this week as spreading unrest among mineworkers in South Africa prompted investors to cover bearish positions.
  • Financial Times: Elisabeth Murdoch, Rupert’s daughter, who chairs Shine, has ‘no ambition’ to be News Corp chief and said there had been no recent family discussions over succession.
  • Financial Times: Shares in United Carpets were suspended on Friday after the flooring retailer said it would not be able to publish its full-year results before a September deadline and announced a first round of store closures.
  • Financial Times: Net profits at Dutch bank ABN Amro fell 36% in the second quarter compared with the first quarter, as the stagnating Dutch economy and falling property market led to a near doubling in impairment charges.

Share tips, comment and bids

  • The Independent: Permira has agreed to buy Japan's largest sushi restaurant chain, Akindo Sushiro, for about $1 billion including debt, in the UK's second-biggest buyout deal this year.
  • The Guardian: Glencore's attempted takeover of Xstrata slipped further away as a deadline passed for the commodities trader to raise its £18bn offer, as demanded by Xstrata's second-biggest shareholder, Qatar Holdings.
  • The Daily Telegraph: Marks & Spencer shares jumped on Friday on a report that private equity firm CVC had considered a bid for the country's largest clothing chain.
  • The Independent: Aer Lingus yesterday urged its shareholders to reject the €700 million hostile takeover bid from its low-cost rival Ryanair.
  • Daily Express: Budget airline Ryanair looks to land key stake in Stanstead.
  • Financial Times: Argentina’s cash-strapped state oil company YPF said it was “advancing swiftly” towards a strategic partnership with Chevron, the US oil major.
  • The Daily Telegraph (Comment): There are few sorrier stockmarket tales than Mouchel, the support services group.
  • Financial Times (Lex): Fairfax and figures – dip in morale - a loss of A$2.7 billion for the year to June prompted Fairfax’s largest shareholder to try to sell half her stake.
  • Financial Times (Lex): South Africa’s mines – bad mood music - the cracks could yet spread beyond mining, which accounts for only 5% of economic output.

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Trump talk and oil's fall knocks FTSE from high

by Daniel Grote on May 23, 2018 at 10:45

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