Feb 2010_Preptalk new.cdr - Student Resources Centre

APPLE SEEKS TO BAN NOKIA PHONES IN U.S.Apple retaliated against Nokia's trade ban request by filingits own complaint with the U.S.International Trade Commission (ITC).Apple wants to block import of Nokia'sphones to the U.S. under theclaim that they infringeApple patents. Nokia insistsit will "defend itselfvigorously" against thecomplaint and reiterated itsopinion that Apple is trying to benefit from Nokia-developedwireless technology, including aspects of 3G.As of now, several companies already have licenses fromNokia, but few have challenged the validity of the patents behindthe techniques. "This does not alter the fact that Apple has failedto agree appropriate terms for using Nokia technology and hasbeen seeking a free ride on Nokia's innovation since it shippedthe first iPhone in 2007," a spokesman said.Nokia's ITC complaint in December 2009 would, if won,entirely ban sales of most if not all iPhones, iPods and Macs inthe U.S. Nokia's call for a trade ban in turn was a response toApple countersuing Nokia; the response accused Nokia of suingonly because it couldn't fairly compete in the smartphone spaceand that it was trying to profiteer from another's success.Critics have noted that purchasing trends have partlysupported Apple's view, as Nokia has been steadily losing marketshare since the iPhone became available internationally,especially in its usual stronghold of Europe.JKJKJKGOVT ALLOWS DUTY FREE SUGAR IMPORTS TILLDEC ENDThe government allowed import of refined sugar at zero dutyup to 31st December this year in the wake of sweetener pricesnearing Rs 50 a kg in the retail market.The Cabinet Committee on Prices (CCP) also decided topermit UP mills to process imported raw sugar outside the statedue to restrictions there.Two-three million tonnes of wheat would be released in theopen market in the next two months to check prices, AgricultureMinister Sharad Pawar told reporters after the meeting.Import of white sugar was allowed till 31st March this yearearlier.Food inflation has reached near 20 percent while sugar isinching near Rs 50 a kg in the retail market.The Prime Minister would also review the implementationof the Essential Commodities Act for reining in the food prices,Pawar said.The Mayawati government does not allow the mills toprocess the imported raw sugar in Uttar Pradesh despiterepeated requests from the Centre.JKJKJKDON'T TAKE ACTION AGAINST SATYAM: INDIA TO U.S.Indian authorities asked U.S. officials not to take any actionagainst the scam-hit Satyam, as it wouldamount to punishing shareholders of theIT Company for a second time. SatyamComputer Services, now MahindraSatyam, can face punitive action in theU.S. as the company's shares were listedand traded on American bourses.The scam-hit company is also contesting about a dozen classaction suits in U.S. courts, which could entail a heavy penalty onthe company. Also, the company can face action by the U.S.Securities Exchange Commission (SEC). Commenting onwhether the government has taken up the issue of Satyam withthe U.S. authorities, Corporate Affairs Minister SalmanKhurshid told, "SEBI has marshalled a request (to U.S.Securities Exchange Commission) and we are monitoringthem. On the political level such signals can be sent and we havealready sent them."The American administration would understand the issue,the minister hoped. Khurshid said, "The case has been laid outquite well. And the case being that nothing should actuallypunish the shareholders a second time over, because any fineimposed on the company will inevitably hurt the shareholders.But I am keeping my fingers crossed," he said.Satyam Founder B Ramalinga Raju's disclosure ofaccounting fraud on January 7, 2008, is reported to have resultedin a loss of around Rs. 14,000 crore to the shareholders. The daywhen Raju disclosed the fraud to Indian market regulatorSecurities and Exchange Board of India, the New York StockExchange (NYSE)halted trading in Satyam after the stockplunged by over 90 percent to $0.85 in pre-market trade.In the U.S., the securities laws have empowered defraudedinvestors to get compensation from the errant parties. SEC canalso enforce action and get damages /compensation for investors.46 PT’s PrepTalk – February 2010