The Star Online: Business |
- Samsung seeks US sales ban on some Ericsson products
- Tradewinds shares hit 5-month high after US$490mil buyout offer
- RUBBER-Tokyo futures hit 7-1/2 month high on weak yen
Samsung seeks US sales ban on some Ericsson products Posted: 25 Dec 2012 05:21 PM PST SEOUL: Samsung Electronics said on Wednesday it had filed a complaint against Ericsson with the U.S. International Trade Commission (ITC), requesting a U.S. import ban and sales ban on some of the Swedish telecoms equipment maker's products. The action taken on Friday by the world's top smartphone maker, which accused Ericsson of breaching seven of its patents, came after Ericsson requested an ITC U.S. import ban on Samsung products and sued the South Korean firm for patent infringement. "We have sought to negotiate with Ericsson in good faith. However, Ericsson has proven unwilling to continue such negotiations by making unreasonable claims, which it is now trying to enforce in court," Samsung Electronics said in a statement. "The accused Ericsson products include telecommunications networking equipment, such as base stations," Samsung said. With Ericsson suffering a big drop in sales at its network unit, down 17 percent in the third quarter, it is turning to the courts to maintain its patent income, part of a wider trend where big technology names are fiercely protecting intellectual property as global sales of tablets and smartphones boom. Ericsson is facing a growing challenge from Samsung Electronics, a smaller player in the network equipment market. "I'm sure that at this point, no one in the industry would underestimate Samsung's ability to become a significant player, if not the leader, in a new segment of the overall market for telecommunications hardware," Florian Mueller, a patent expert, said in a blog posting on Monday. "This certainly adds a more strategic dimension to the Ericsson-Samsung dispute." Samsung Electronics and its arch smartphone rival Apple Inc The European Commission on Friday charged Samsung Electronics with abusing its dominant position in seeking to bar rival Apple from using a patent deemed essential to mobile phone use. Samsung Electronics shares were trading up 1.3 percent, outperforming the wider market's 0.7 percent gain as of 0037 GMT. Reuters
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Tradewinds shares hit 5-month high after US$490mil buyout offer Posted: 25 Dec 2012 05:18 PM PST Published: Wednesday December 26, 2012 MYT 9:19:00 AMKUALA LUMPUR: Shares in Malaysian commodity firm Tradewinds (M) Bhd jumped to an five-month high on Wednesday following a 1.5 billion ringgit (US$489.40 million) buyout offer by Malaysia's seventh richest man Syed Mokhtar Al-Bukhary. Tradewinds surged nearly 15 percent to 8.90 ringgit on Wednesday, just a whisker from the offer price of 9.30 ringgit made by the reclusive tycoon. The deal would result in the Syed Mokhtar leading a mandatory general offer for two units under Tradewinds, Tradewinds Plantations Bhd and national rice distributor Padiberas Nasional Bhd, for 4.03 ringgit and 3.25 ringgit per share respectively. Shares of Tradewinds fell 3.07 percent to 4.10 ringgit on Wednesday, while Padiberas lost 0.6 percent to 3.29 ringgit. The offer for Tradewinds comes after Syed Mokhtar's autos-to-property conglomerate DRB-Hicom Bhd took the country's largest automaker Proton Holdings Bhd private for $412 million in January. - Reuters
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RUBBER-Tokyo futures hit 7-1/2 month high on weak yen Posted: 25 Dec 2012 04:48 PM PST TOKYO: Key TOCOM rubber futures extended gains for a third day on Wednesday to their highest level in more than seven-and-a-half months, jolted by a weaker yen on growing hopes for further monetary easing in Japan. FUNDAMENTALS * The key Tokyo Commodity Exchange rubber contract for June delivery was changing hands 2.4 yen, or 0.8 percent, higher at 294.5 yen as of 0034 GMT. The benchmark contract rose as high as 295.6 yen, the highest since 302.2 hit on May 9. Tokyo rubber has been driven higher in recent days as the yen fell to around 20-month lows against the dollar, pressured by expectations that the incoming Japanese prime minister, Shinzo Abe, would push the Bank of Japan into more forceful monetary easing. * Crude rubber inventories at Japanese ports had climbed to a two-week high of 6,352 tonnes by Dec. 10, after rising 149 tonnes in the previous 10 days, data from the Rubber Trade Association of Japan showed on Wednesday. * The London Metal Exchange is still closed on Wednesday for the Christmas holiday. * For the top stories in rubber market and other news, click , or MARKET NEWS * U.S. markets were closed on Tuesday for Christmas Day holiday. * U.S. crude prices rose by 50 cents to above $89 a barrel on Wednesday. * Japan's Nikkei share average edged higher on Wednesday as the yen slipped to a 20-month low, on expectations of an aggressive monetary easing stance by the new government. DATA EVENTS * The following data is expected on Wednesday: (Time in GMT) - 1355 U.S. Redbook retail sales - 1245 U.S. ICSC chain stores yy Weekly - 1400 U.S. CaseShiller home price index Oct - 1500 U.S. Richmond Fed Manufacturing, Services index/Dec - European Market Holiday - Reuters
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