Day: March 31, 2017

GLOBESCAN

1 Comment

IN NEGATIVE ZONE: Britain’s inflation rate unex­pectedly fell below zero for the first time in more than half a century, as the drop in the food and energy prices depressed the cost of living. Consumer prices de­clined 0.1 per cent in April from a year earlier, the Office for National Statistics said. Economists had forecast the rate to be zero, according to the median of 35 estimates in a news survey. Core inflation slowed to 0.8 per cent, the lowest since 2001. With inflation so far below the Bank o: England’s 2 per cent target, policy makers are under pres­sure to raise the key interest rate from a record-low of 0.5 per cent for now. Governor Mark Carney said any period falling prices will be temporary and an expected pickup i: inflation at the end of the year means the next move in bo: rowing costs is likely to be an increase.

Britain in the event
of‘Brexit’

I LEGAL TROUBLE: Alibaba has

been sued by Kering, a luxury brands group that includes Gucci and Yves Saint Laurent, over counterfeits on its popular e-commerce platforms. The lawsuit, filed in New York, alleges that Alibaba and its related companies “know­ingly encourage, assist, and profit from the sale of counterfeits on their online platforms…(and) make it possible for an army of counterfeiters to sell their illegal wares throughout the world”. Counterfeits have long been a headache for Alibaba, which operates China’s most popular e- commerce shopping platforms Taobao and Tmall. Co-founder Jack Ma has even called fakes a “cancer” to the company.

 

vodafone
SMART BATTLE: Apple was handed a mixed === ruling by a US appeals court in the latest twist in a blockbuster intellectual property battle with Samsung Electronics, as a prior patent infringement verdict was upheld but a trademark finding that the iPhone’s appearance could be protected was thrown out. That means up to 40 per cent of a $930-mil- lion verdict, which had been won by Apple, must be reconsidered. In the ruling stemming from the global smartphone wars, the Federal Circuit in Washington upheld patent infringement violations including one which protects the shape and colour of its iPhone as well as the damages awarded for those violations.
QUID PRO QUO: Greece is

near a cash-for-reforms deal with its euro zone partners and the International Monetary Fund that would help it meet debt repayments next month, the country’s finance minister said, as worries persist over a possible bankruptcy. Athens has been defending its “red lines” in talks with lenders, refusing to yield on further pension cuts and more labour maket liberalisation to clinch a deal that would release remaining bailout aid, despite a pressing cash crunch. “I think, we are very close (to a deal)… let’s say in a week,” Greece finance minister Yanis Varoufakis said. “Another currency is not on our radar, not in our thoughts.”

TOTAL RECALL :Takata is nearly doubling the size of its massive recall for faulty airbags, making it the largest auto recall in history. It recalled airbags used in about 18 million vehicles. This move will bring that number up to 34 million autos. That is nearly one out of every seven cars on US roads.

The recall is one of the largest consumer product recalls ever.

At least five deaths have been tied to the faulty airbags. But Takata has previously resisted demands by regulators to get all the affected airbags off the road. The airbags have been known to explode and send shrapnel into the face and body of both the driver and front seat passenger.