In a room full of avowed capitalists, policies that sound to some like socialism are bound not to go over well.Delivering Alpharead more
At least in terms of monetary policy, Pence says should be taking after other regions who keep their benchmark interest rates near zero.Delivering Alpharead more
AT&T isn't focused on selling or divesting DirecTV, despite pressure from stakeholder Elliott Management, sources tell CNBC.Technologyread more
Amazon's purchase comes as part of its plan to convert its delivery fleet to 100% renewable energy by 2030. The e-commerce retailer already runs 40% of its fleet on renewable...Autosread more
As part of the plan, Amazon has agreed to purchase 100,000 electric delivery vans from vehicle manufacturer Rivian.Technologyread more
Apple's iOS 13.1 will be released on Sept. 24, six days earlier than previously announced.Technologyread more
The plan will allow Medicare to negotiate lower prices on as many as 250 drugs and apply those discounts to private health plans.Health and Scienceread more
Hedge fund titan Leon Cooperman said he's concerned about a shift to the left in the political landscape, which could harm the economy and the stock market.Delivering Alpharead more
The move could bring a welcome salve to farmers caught in the crosshairs of the trade war if it results in a reopening of the market.Politicsread more
The pilot program will deliver food and beverage, over-the-counter medications and other items within minutes, the company said. Prescription deliveries will not be available.Health and Scienceread more
Check out the companies making headlines in midday trading:Market Insiderread more
ruling on hold@ (Rewrites with LG Electronics filing)
June 11 (Reuters) - Smartphone maker LG Electronics Inc on Tuesday opposed chip supplier Qualcomm Inc's efforts to put a sweeping U.S. antitrust decision against it on hold as it pursues an appeal.
The Korean company said that it is negotiating chip supply and patent license agreements with Qualcomm and could be forced into signing another unfair deal unless a federal judge's protections remain in place.
The filing in federal court in San Jose, California, came shortly after the U.S. Federal Trade Commission also opposed Qualcomm's efforts, saying that it was in the public interest to let the antitrust ruling stand because an appeal could take years.
Both filings stem from a May 21 decision by U.S. District Judge Lucy Koh that would drastically alter the business model of Qualcomm, which supplies modem chips to connect phones to mobile data networks but makes most of its profits through licensing patents.
Among other things, Koh's decision would require Qualcomm to license its patents to rival chip makers instead of phone makers, which could potentially slice its patent royalties from several dollars per phone to pennies.
Qualcomm on May 28 asked Koh to set aside her decision while it pursues an appeal. The company said that Koh's decision would entail "radically restructuring its business relationships" in ways that would be impossible to reverse if it wins an appeal.
It also argued that Koh's ruling raised "serious legal questions" because, among other things, Koh blocked market evidence showing that Apple Inc dropped Qualcomm in favor of rival chip supplier Intel Corp.
In a court filing on Tuesday, JongSang Lee, LG Electronics' general counsel, said that the phone maker relies on Qualcomm for modem chips and is in the midst of negotiating a new agreement, including over 5G chips for the newest generation of mobile networks in Korea.
Lee wrote that Qualcomm has continued to pressure LG Electronics to sign a patent license in order to keep its access to Qualcomm chips, which it relies on for its phones. LG Electronics' agreement with Qualcomm runs out on June 30, and the phone maker may have "no option but to conclude license and chipset supply agreements once again on Qualcomms terms, since LGE must rely on Qualcomms modem chips," Lee wrote.
Koh's decision "prohibits Qualcomm's long-standing 'no license no chip' position, which Qualcomm has continuously raised during its license negotiations with LGE," Lee wrote. "Without this order, LGE will continue to face Qualcomms anticompetitive stance during currently ongoing negotiations."
The FTC similarly argued that Koh's ruling should stay in place while Qualcomm appeals, saying that a prompt enforcement of the Court's order is in the public interest.
"The appellate process could easily extend through the initial rollout of 5G technology ... and a stay would allow Qualcomm time to use anticompetitive practices to entrench its monopoly power in modem-chip markets during this critical period," the FTC wrote in its filing.
Qualcomm has signaled its intention to file an appeal but has not yet filed one or fully revealed its legal arguments. Tuesday's filing by the FTC only concerns whether the ruling's provisions will be put on hold temporarily as any appeal plays out. (Reporting by Stephen Nellis in San Francisco Additional reporting by Ishita Palli in Bengaluru Editing by Bill Rigby)