Monthly Archives: April 2014

Apple versus Samsung case goes to California jury

Apple attorneys Harold McElhinny, foreground, and William Lee walk to a federal courthouse in San Jose, Calif., Tuesday, April 29, 2014. The Silicon Valley court battle between Apple and Samsung is entering its final phase. Lawyers for both companies are expected to deliver closing arguments Tuesday before jurors are sent behind closed doors to determine a verdict in a closely watched trial over the ownership of smartphone technology. (AP Photo/Jeff Chiu)SAN JOSE, California (AP) — After listening to a month's worth of testimony from expert witnesses hired by Apple and Samsung as well as executives from each company, a Silicon Valley jury of four men and four women will resume deliberations Wednesday to sort out the latest legal dispute over technology between the world's two largest smartphone makers.

U.S. Senate report shows seniors targeted in metals investment scams

By Diane Bartz WASHINGTON (Reuters) – Scam artists who use promises of riches if retirees invest in precious metals have defrauded an estimated 10,000 Americans of some $300 million since 2001, according to a report produced for a U.S. Senate Committee. Among those slated to testify are a convicted felon who worked as a telemarketer, law enforcement officials, and a victim of fraud. The hearing will focus “on a particularly appalling scam — the so-called ‘sale’ of precious metals to seniors, who are eager to avoid the dangers of the stock market and are trying to find a safe haven for their live savings,” said Senator Susan Collins of Maine, the panel’s top Republican.

Concept smartwatch uses the whole screen as a joystick

Concept smartwatch uses the whole screen as a joystickIt ain't easy using a smartwatch, especially if you have gigantic fingers. So, a team from Carnegie Mellon University developed a concept smartwatch that turns the whole screen into one relatively big input mechanism. By that, we mean you can pan, twist, zoom, tilt and click the screen by physically moving the watchface — the whole thing (sans the bracelet) is essentially a joystick.

Pimco’s Gross says future neutral policy rate critical: letter

Bill Gross looks on while playing golf at Pebble Golf Links in Pebble BeachBill Gross, manager of the world's largest bond fund at Pimco, said Wednesday that the future "neutral" policy rate would be critical for finding value in all assets, and that his firm believed it was about 2 percent. "At PIMCO, we believe that this focus on the future 'neutral' policy rate is the critical key to unlocking value in all asset markets," Gross said in his monthly letter to investors. Gross, whose flagship Pimco Total Return Fund has $232 billion in assets, said that while current Federal Reserve participants believe the neutral rate is 4 percent, Pimco believes 2 percent is "closer to the mark." Gross added that if the neutral rate is 2 percent, asset markets are "not bubbly, just low returning." Pacific Investment Management Co, a unit of European financial services company Allianz SE, had $1.94 trillion in assets as of March 31, according to the firm's website.

Here’s everything new in Sony’s big PS4 update, which is available now

Here’s everything new in Sony’s big PS4 update, which is available nowMicrosoft has been kicking out updates left and right for its new Xbox One video game console, and now Sony has followed suit with its latest update for the PS4. The PlayStation 4 v1.70 system update is a big one, and it includes tons of new features, improvements and fixes. As such, Sony posted a note on its PlayStation blog that covers all of the big points gamers will want to be aware of when the update hits their PS4 consoles beginning Wednesday. Here are all of the new key features, from Sony’s blog post: SHAREfactory: After you update your PS4 to v1.70, an icon to download our free SHAREfactory app will appear on your PS4 system’s home screen once it’s

Poor lung drug sales hit GSK in first-quarter, CEO wary on M&A

A British Airways airplane flies past a signage for pharmaceutical giant GlaxoSmithKlein in LondonBy Ben Hirschler LONDON (Reuters) – GlaxoSmithKline posted a 10 percent fall in quarterly sales on Wednesday, highlighting some of the industry pressures behind last week's decision to trade more than $20 billion of assets with Swiss rival Novartis . Amid a frenzy of M&A in the healthcare sector – including a potential $100 billion bid by Pfizer for AstraZeneca – GSK Chief Executive Andrew Witty said he much preferred targeted deals like the tie-up with Novartis. Asked if GSK could consider a "white knight" counterbid for AstraZeneca, he declined to comment specifically but he told reporters in a conference call that such broad-based deals were "distracting". The company's performance in the three months ended March was hit by disappointing sales of its top-selling lung drug Advair in the United States, where sales fell 20 percent following reduced reimbursement coverage.

Nuclear power producer Exelon to buy Pepco for $6.83 billion

A general view of the exterior of the Pepco Holdings Inc corporate headquarters in Washington(Reuters) – Exelon Corp, the largest U.S. nuclear power producer, said it would buy Pepco Holdings Inc for $6.83 billion to create the biggest electric and gas utility in the U.S. Mid-Atlantic region. The deal will allow Exelon to sell more power at stable rates set by regulators at a time when an abundance of cheap natural gas is dragging down power prices on the open market. "We view this transaction in a positive light as it further reduces Exelon's consolidated exposure to the vagaries of the wholesale power market," BMO Capital Markets analyst Michael Worms wrote in a note. Exelon's $27.25 per share cash offer represents a near 20 percent premium to Pepco's Tuesday close of $22.79 on the New York Stock Exchange.