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Microsoft sues Samsung over patent licensing agreementExternal Link

SAN FRANCISCO (MarketWatch) - Microsoft Corp. has filed a suit against Samsung accusing the electronics manufacturer of breaching a patent licensing agreement, the software giant said Friday. The two companies had signed a cross-licensing agreement in 2011 covering Samsung's use of Google Inc.'s Android operating system, which Microsoft says uses some of its technology. However, Microsoft Deputy General Counsel David Howard said in a blog post that, "After becoming the leading player in the worldwide smartphone market, Samsung decided late last year to stop complying with its agreement with Microsoft." He also argued that Samsung used Microsoft's acquisition of Nokia as "an excuse to breach its contract." The Microsoft suit was filed before a federal court in New York.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 01 Aug 2014 22:20:30 GMT
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Berkshire Hathaway Q2 profit rose 10.5%External Link

NEW YORK (MarketWatch) -- Warren Buffett's Berkshire Hathaway Inc. saw operating profit increase by 10.5% in the second-quarter. Berkshire reported a profit of $6.4 billion, or $3,889 per Class A share, compared to $4.54 billion, or $2,763 a share, a year earlier. Operating profit, which excludes some investment results, was up to $2,634 a share from $2,384 in the year-ago period. Analysts were expecting operating earnings of $2,485.21 per Class A share, and operating earnings of $1.66 per Class B share on revenue of $48.86 million. Revenue rose to $49.76 billion from $44.69 billion. Berkshire's shareholders' equity increased $12.1 billion and the total book value per Class A equivalent share has increased by 5.6% to $142,483 as of July 30. Berkshire, which owns large insurance operations, a railroad, power plants, and apparel makers, also had investment and derivative gains of $1.44 billion. Berkshire shares were up 1% in post-market trading.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 01 Aug 2014 21:34:46 GMT
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Obama mystified by House Republican opposition to Ex-Im bankExternal Link

WASHINGTON (MarketWatch) - President Barack Obama on Friday said he was mystified by House Republican opposition to the Export-Import Bank. "We will lose business and we will lose jobs" if Congress does not reauthorize the federal agency, Obama said at his afternoon press conference. The Ex-Im bank charter expires at the end of the fiscal year on September 30. He noted that Republicans had historically backed the Ex-Im Bank. The institution allows major U.S. companies like Boeing Co. and General Electric to compete with foreign rivals for overseas sales, he said. "When did that become something that Republicans opposed?" Obama asked.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 01 Aug 2014 20:13:51 GMT
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Obama mystified by House Republican opposition to Ex-IM bankExternal Link

WASHINGTON (MarketWatch) - President Barack Obama on Friday said he was mystified by House Republican opposition to the Export-Import Bank. "We will lose business and we will lose jobs" if Congress does not reauthorize the federal agency, Obama said at his afternoon press conference. The Ex-Im bank charter expires at the end of the fiscal year on September 30. He noted that Republicans had historically backed the Ex-Im Bank. The institution allows major U.S. companies like Boeing Co. and General Electric to compete with foreign rivals for overseas sales, he said. "When did that become something that Republicans opposed?" Obama asked.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 01 Aug 2014 20:13:45 GMT
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Valeant calls Allergan lawsuit 'frivolous'External Link

LOS ANGELES (MarketWatch) -- Valeant Pharmaceuticals International Inc. on Friday called Allergan Inc.'s filing of a federal lawsuit "frivolous" and said it was an effort to interfere with the calling of a special shareholder vote on Valeant's $53 billion for Allergan. The company was responding to Allergan's allegations earlier in the day that Valeant and activist investor William Ackman engaged in insider trading prior to Valeant's April 22 offer. Ackman called Allergan's lawsuit a "shameless attempt" to delay the vote and said it was "baseless."

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Fri, 01 Aug 2014 19:18:01 GMT
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