Gina's Feed
Nov 3, 2009

California jury finds SMIC stole trade secrets

LOS ANGELES (Reuters) – A California jury ruled on Tuesday that Semiconductor Manufacturing International Corp stole and used trade secrets from rival Taiwan Semiconductor Manufacturing Co, possibly putting SMIC on the hook for more than $1 billion in damages for TSMC, a lawyer for TSMC said on Tuesday.

The jury also found that SMIC breached the terms of a 2005 settlement over similar claims, for which it had agreed to pay $175 million and to surrender all TSMC documents and stop using TSMC technology and processes, lawyers for the companies said.

Nov 3, 2009

Disney to give $7 million to reforestation projects

LOS ANGELES (Reuters) – The Walt Disney Co said on Tuesday it will invest $7 million in forest conservation projects in the Amazon, Congo and United States as part of its effort to reduce emissions, waste and energy use as a corporation.

Disney pledged earlier this year to cut its carbon emissions from fuels by half by 2012, and ultimately to achieve net zero direct greenhouse gas emissions at its office and retail complexes, theme parks and cruise lines.

Oct 29, 2009

McKinsey, Akamai open probes in Galleon scandal

LOS ANGELES (Reuters) – McKinsey & Co and Akamai Technologies Inc launched investigations on Wednesday into accusations by the U.S. government that some of their employees were linked to the Galleon Group insider-trading scandal.

McKinsey said it was conducting an internal probe to see if senior executive Anil Kumar, who has been charged in the case, had leaked confidential information about clients to Galleon.

Oct 28, 2009

Shanghai may greet Obama with Disney park deal

SHANGHAI/LOS ANGELES (Reuters) – With President Barack Obama due to visit China next month, speculation is swirling Walt Disney Co <DIS.N> may finally be about to announce a long-awaited deal to build a theme park in Shanghai.

Disney and the Shanghai government have been waiting since January for Beijing’s approval to move forward with what would be the country’s second Disneyland, after a Hong Kong park opened in 2005 to a string of operational problems and lackluster attendance.

Oct 28, 2009

Questions surround ex-AMD CEO’s alleged Galleon link

LOS ANGELES/SAN FRANCISCO (Reuters) – The linking of Advanced Micro Device’s former top executive to the largest U.S. insider trading scheme in decades may raise questions about its business practices — and that of the chipmaking venture, Globalfoundries, that it spun off.

AMD and Globalfoundries — launched in 2008 and considered an unlikely contender to heavyweight rivals TSMC and UMC of Taiwan — can ill afford a major legal and corporate distraction as the contract chipmaker tries to secure a foothold in a fiercely competitive sector.

Oct 23, 2009

Stock options trial starts for Broadcom ex-CFO

SANTA ANA, California (Reuters) – A former Broadcom Corp executive cheated the chip company’s investors out of billions by hiding compensation expenses and lining his pockets with the proceeds of backdated stock options, federal prosecutors said on Friday at the trial of William Ruehle.

But lawyers for Broadcom’s former chief financial officer, who went on trial in Santa Ana, California, said the government has recast innocent “accounting mistakes” made by hundreds of top U.S. tech firms as “lying, stealing and cheating” by the 67-year-old former executive and others.

Oct 21, 2009

Madoff investors sue KPMG and major banks

NEW YORK/LOS ANGELES (Reuters) – Some investors defrauded by epic swindler Bernard Madoff on Tuesday added accounting firm KPMG <KPMG.UL>, JPMorgan Chase <JPM.N> and Bank of New York Mellon <BK.N> to a civil lawsuit in a New York court, lawyer Joseph Cotchett said.

The lawyer, who also named Oppenheimer Acquisition Corp, Massachusetts Mutual Life Insurance <MMLIC.UL>, Tremont funds founder Sandra Manzke and former Tremont Chief Executive Robert Schulman in the amended lawsuit, said the complaint was based on his law firm’s prison interview with Madoff in July, months of investigation and interviews with former employees.

Oct 8, 2009

Q&A-Yahoo mobile chief says ads, apps growing

SAN DIEGO, Oct 8 (Reuters) – The numbers are starting to
look respectable at Yahoo <YHOO.O> Mobile, even if they measure
growing interest in mobile applications and advertising rather
than dollars, Yahoo Mobile chief David Ko told Reuters.

Yahoo Mobile announced an upgrade this week to its mobile
homepage, that, along with a $100 million national branding
campaign, is aimed at drawing in both users and advertisers, Ko
said on Wednesday.

Oct 8, 2009

Mobile data services pushed to limits: Qualcomm

SAN DIEGO (Reuters) – Speed increases in mobile data services will require more densely built networks, executives from wireless chip and technology supplier Qualcomm Inc said on Thursday.

The wireless industry has already pushed the limits of technology designed to increase mobile Web speeds from wireless airwaves, they said.

Oct 7, 2009

FCC chief lauds wireless companies, to focus on spectrum

SAN DIEGO (Reuters) – The top U.S. communications regulator praised recent moves by big wireless companies to open their networks and said he would work to overcome a looming shortage of airwaves used by the industry.

U.S. Federal Communications Commission Chairman Julius Genachowski said on Wednesday that consumers would benefit from the latest move by AT&T Inc to open its network to Internet voice services and a partnership between Verizon Wireless and Google Inc.