Qualcomm seeks Chinese court's help against defiant phone maker
Qualcomm is seeking the help of a Chinese court to get a local smartphone maker, Meizu, to agree to licensing terms for patents that the company broadly agreed to with the Chinese government last year.The chip company said Friday it has asked the Beijing Intellectual Property Court for a ruling that the terms of a patent license it offered Meizu comply with China's Anti-Monopoly Law, and the U.S. company’s “fair, reasonable and non-discriminatory licensing obligations.”Qualcomm alleges that..>> view originalHouse Republicans roll out new blueprint for tax reform
House Republicans on Friday are unveiling a blueprint for reforming the tax code, providing the final plank of an election-year platform spearheaded by Speaker Paul RyanPaul RyanHouse Republicans roll out new blueprint for tax reform Britain votes to leave European Union Dem rep mocks Ryan’s sit-in response MORE (R-Wis.).The proposal calls for lowering rates, moving the United States toward a consumption-based tax system and revamping the IRS. GOP lawmakers designed it to foster economic growt..>> view originalBiggest U.S. Banks Seen Weathering Severe Stress in Fed Test
The Federal Reserve’s stress tests of big banks found all 33 have enough capital to withstand a severe economic shock, though Morgan Stanley trailed the rest of Wall Street in a key measure of leverage.QuickTake Stress TestsThe results mark the second straight year all firms passed the annual exams’ first phase. The biggest cleared the most severe scenario handily, with one exception. Morgan Stanley’s projected 4.9 percent leverage ratio tied for last place alongside a Canadian bank’s U.S. unit..>> view originalWith a British adieu to EU, it's farewell to a Fed rate hike for now
SAN FRANCISCO The U.S. Federal Reserve, already undecided on when next to raise interest rates, now has one more reason to wait: Britain's vote on Thursday to leave the European Union. Not that the Fed needed another reason. Weaker-than-expected growth in U.S. jobs in recent months had already forced U.S. central bankers to put off a rate hike at their meeting last week.But while data due early next month on June U.S. payrolls growth could help clear up doubts about the strength of the labor m..>> view originalStocks plummet on Brexit vote; DAX slides 10%, pound plummets
British citizens voted on Thursday on the country's future membership of the EU with polls prior to the referendum showing the remain camp ahead. But as results came through in the early hours of the morning, the leave camp was ahead, stealing a win for the Brexit campaign. The news sent sterling into freefall and its lowest level against the dollar since 1985 in the early hours of Friday morning at around $1.3407. Sentiment on the currency was dampened further when HSBC forecast that ste..>> view originalCurrency expert warns the British pound faces a 'grave danger' in the weeks ahead
In the wake of the surprise UK EU referendum vote, currency markets went haywire. After initially surging, the British pound crashed to a 30-year low against major currencies as the tally of votes reflected a country desiring to 'leave' the European Union (EU). This was not expected by most experts. Kit Juckes, a currency strategist for Societe Generale, warns that the decline in the currency may not be over. “The UK economy enters a period of huge uncertainty – and weakness as a result - ..>> view originalUber to replace surge pricing with a more 'upfront' system
Uber drivers love it. Riders certainly do not. We’re talking about surge pricing, and it seems the company is making moves to change the way it presents those higher prices to riders using its popular UberX service. Surge pricing kicks in when demand for Uber rides increases, for example during New Year’s Eve, rush hour, or when events put similar transportation services out of action, and can push fares to as much as six times their regular amount. It’s designed to get more Uber drivers to hit..>> view originalBOE Will 'Take All Necessary Steps' Following 'Brexit' Vote
LONDON—The Bank of England said it is working with other central banks to preserve the stability of the financial system as markets swooned following the U.K.’s decision to exit the European Union. In a terse statement Friday, the U.K. central bank said it is monitoring developments closely and stands ready “to take all necessary steps” to meet...>> view original'Brexit' bombshell torpedoes global markets
A pedestrian reacts in front of a monitor displaying the Tokyo stock index in Tokyo, Japan, 24 June 2016. The benchmark Nikkei 225 Stock Average lost 495.95 points, or 3.05 percent, to end the morning session at 15742.40 after Britain closed the polls to vote on whether to remain in or leave the European Union (EU), commonly referred to as 'Brexit' (British exit).(Photo: KIYOSHI OTA, EPA)Investors stunned by British voters' unexpected move to support "Brexit" sent global stocks plunging.Futures ..>> view originalCostco, Citi Flooded With Complaints in Rocky Card Rollout
Costco Wholesale Corp. customers have deluged the retailer’s Facebook page with hundreds of complaints about a new credit card from Citigroup Inc., saying they endured lengthy wait times and had trouble activating accounts.Costco, the world’s largest wholesale club, told customers that the bank is working to deal with a spate of calls about the new Costco Anywhere Visa cards. The cards were available for use starting on Monday.“Due to high levels of interest in the Costco Anywhere Card and high..>> view original
Friday, June 24, 2016
Qualcomm seeks Chinese court's help against defiant phone maker and other top stories.
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