Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
There are challenges with Iran, North Korea, the Afghan Taliban, Israel and the Palestinians — not to mention a number of trade pacts.Politicsread more
In perhaps Buffett's first televised profile, he explained a method of investing that prioritizes bargains and makes use of an occasional baseball analogy.Marketsread more
The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
A 58% majority of registered voters express unease about voting for Trump, but slightly more say the same about Joe Biden and Bernie Sanders, while Elizabeth Warren fares only...Politicsread more
A temporary airspace closure forced flights coming into Dubai from Australia, Singapore and India to be diverted to nearby airports.Airlinesread more
As the home to major companies such as Garmin, Sprint, H&R Block and Russell Stover Chocolates, plenty of business travelers find themselves in Kansas City for work. Here's...Travelread more
Investors are asking how the world's third-largest defense spender could have left itself so vulnerable and what that means for the future.Politicsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
Solar power is on the rise. You can see the evidence on rooftops and in the desert, where utility-scale solar plants are popping up. The picture is not all rosy, but if the...Technologyread more
(Adds quote from Qualcomm statement, updates stock price)
Aug 23 (Reuters) - Qualcomm Inc won a partial stay against the enforcement of a sweeping antitrust ruling in a lawsuit brought by the U.S. Federal Trade Commission (FTC), according to a court filing on Friday.
The company on May 21 lost in an antitrust lawsuit and has been fighting to have the ruling put on hold while it pursued an appeal.
The San Diego-based company argued that letting the ruling stand could upend its talks with phone makers over chips for 5G, the next generation of wireless data networks.
In the ruling issued on Friday, the 9th U.S. Circuit Court of Appeals put on hold the provisions of the earlier ruling that required Qualcomm to grant patent licenses to rival chip suppliers and end its practice of requiring its chip customers to sign a patent license before purchasing chips.
The earlier ruling would have required Qualcomm to renegotiate all of its existing chip and patent deals, as well as make new deals conform to the requirements. The stay granted Friday puts on hold the effect of parts of the ruling while the appeals process, which could take a year or more, plays out.
The Qualcomm antitrust case was unique in that different parts of the U.S. government weighed in with differing views. The Department of Justice - the other primary antitrust regulator in the United States - said during the initial trial that it disagreed with the FTC's legal theory. And after the trial judge handed down a decision, the Pentagon and the Department of Energy both made filings saying that enforcing the decision would harm national security.
"The government itself is divided about the propriety of the judgment and its impact on the public interest," the appeals court wrote in its ruling.
Shares rose briefly after the news but then dropped 3.7% to $74.29 in afternoon trading on the Nasdaq. Shares have been volatile this year, rising from the mid-$50 range to above $85 after Qualcomm settled a major lawsuit with Apple Inc, but then dropping to the mid-$60 range after its loss of the case brought by the FTC.
The company has not formally filed its appeal in the FTC lawsuit. After Qualcomm files its arguments, the appeal will take place in January.
In a statement, Qualcomm general counsel Don Rosenberg said the company believes "the district court decision will be overturned once the merits of our appeal have been considered. (Reporting by Sayanti Chakraborty in Bengaluru and Stephen Nellis in San Francisco; editing by Tom Brown and Chizu Nomiyama)