Apple Appeals Beijing’s Patent Ruling, Still Selling iPhone 6, iPhone 6 Plus in China

Apple- iPhone 6- iPhone 6 Plus

Apple (NASDAQ:AAPL) is facing another problem in China after an intellectual property regulator in Beijing ruled that the tech giant violated the design patents of a local device manufacturer. The Beijing Intellectual Property Office (BJIPO) ordered Apple to stop selling the iPhone 6 and iPhone 6 Plus in the capital of China following its findings that the devices have similarities with the 100C phone of Shenzhen Baili. According to the regulator, the iPhone maker infringed the patent rights of the Chinese device maker. According to Bloomberg, the decision of the…

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Pres. Obama, Sen. Warren Endorse Hillary Clinton for President

President Barack Obama released an online video formally endorsing Hillary Clinton to become the next president of the United States. Senator Elizabeth Warren also endorsed the presumptive Democratic presidential nominee. The endorsements came after the former First Lady, former New York Senator, and former Secretary of State obtained the required number of delegates to clinch the Democratic nomination on Tuesday. She made history for becoming the country’s first female presidential nominee from a major political party. Clinton garnered total of 2,740 delegates including 2,681 pledged and 572 super delegates after…

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Donald Trump’s Racist Comment on Judge “Out of the Field” Says Paul Ryan

Trump

House Speaker Paul Ryan rebuked Donald Trump due to his racial attacks on the federal judge presiding over the class action lawsuit against Trump University, which was accused of defrauding students. The Republican presumptive nominee repeatedly stated in interviews with the Wall Street Journal and CNN that U.S. District Court Judge Gonzalo Curiel had an “absolute conflict” in the litigation because of his “Mexican heritage.” Judge Curiel was born in the United States to Mexican-American immigrants. Ryan said Trump’s attack on Judge Curiel was “out of the left field” and…

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Alibaba Expected to Suffer Huge Decline; Takeover Target

Alibaba

Alibaba Group Holding (NYSE:BABA) is expected to suffer a huge decline and will eventually become a takeover target, according to one of the short-sellers raising questions about the accounting practices of the company. Some of the well-known short-sellers who have a bearish conviction on Alibaba include Jim Chanos, the founder and president of Kynikos Associates and John Hempton, the chief investment officer of Bronte Capital. The recent disclosure of the Chinese e-commerce giant that the Securities and Exchanges Commission (SEC) has been investigating its accounting practices strengthened short-seller’s position of betting…

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Google Defeats Oracle in Java Copyright Lawsuit

Google defeated Oracle Corporation (NASDAQ:ORCL) after a jury upheld the ruling of a district judge in California that the search engine’s giant’s use of the Java software to build the Android operating system is allowed by the copyright law. The decision of the jury ended the long-running and closely watched legal battle between Google and Oracle, which was centered on the Java application programming interfaces (APIs). “Today’s verdict that Android makes fair use of Java APIs represents a win for the Android ecosystem, for the Java programming community, and for…

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Valeant Pharmaceuticals’ Accounting Practice Questioned by SEC

Valeant

The Securities and Exchange Commission (SEC) questioned the accounting practice Valeant Pharmaceuticals International (NYSE:VRX) particularly its use of the non-GAAP financial measures, according to the Wall Street Journal. Based on the recently public comment letters from the securities regulator, it was concerned that Valeant’s financial disclosure was “potentially misleading” at one point. SEC believes Valeant needs to revise its future earnings disclosures The comment letters sent by the SEC to the Canadian pharmaceutical company starting in December showed that the regulator questioned Valeant’s practice of removing its acquisition-related costs from…

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Monsanto Rejects Bayer’s Acquisition Offer “Financially Inadequate”

Monsanto

The Board of Directors of Monsanto Company (NYSE: MON) rejected the acquisition offer of Bayer AG (ETR:BAYN) citing the reason that it was “incomplete and financially inadequate.” Despite its rejection, Monsanto’s Board stated that it will willing to continue to have constructive conversations with Bayer to assess whether it can achieve a deal for the best interest of its shareholders. In a statement, High Grant, the Chairman and CEO of Monsanto said, “We believe in the substantial benefits an integrated strategy could provide to growers and broader society, and we…

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Comcast Agrees to Acquire DreamWorks Animation for $3.8 Billion

ComCast Agress to Buy DreamWorks

Comcast Corporation (NASDAQ:CMCSA), the owner of NBCUniversal, signed an agreement to acquire DreamWorks Animation (NASDAQ:DWA) for $3.8 billion to strengthen its growth and competitiveness particularly in offering family-friendly entertainment. Under the terms of the agreement, the DreamWorks shareholders will receive $41 in cash for every common stock they own. The acquisition price represents around 27% premium to the closing price of the company’s stock on Wednesday. The stock price of DreamWorks increased more than 24% to $39.97 per share around 2:11 in the afternoon today. According to ComCast, DreamWorks will…

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Alaska Air Inks Deal to Buy Virgin America for $2.6 Billion

Alaska Air Buys Virgin America

Alaska Air Group (NYSE:ALK), the parent company of Alaska Airlines, agreed to acquire Virgin America (NASDAQ:VA) for $57 per share or $2.6 billion in total equity value. The total value of the deal was approximately $4 billion including Virgin America’s existing debt and capitalized aircraft leases. The stock price of Virgin America surged 42% to $55.26 per share around 11:47 in the morning in New York on Monday. The stock value of Alaska Air dropped 5.2% to $77.77 per share. Merger creates the 5th largest airline in the U.S. Alaska…

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