Monthly Archives: December 2011

Google faces legal suit over its Android OS from British Telecom

British Telecom or BT has filed a charge against Google claiming huge indemnity for patent violation stating that its Android mobile OS has allegedly done. The lawsuit has been filed at Delaware State in the United States and alleges that Android products including Android Market, Google Music and Google Maps have violated six key patents owed by British Telecom.

If, British Telecom gets a favorable verdict, it would result in Google having to pay huge royalties to the telecom company for all its Android handsets sold till date, and also for the ones that they are going to produce in the future. This could turn out to be a huge amount considering the fact that Android is the most dominating smartphone platform across the world. Android devices have a greater than 40% market share in the Smartphone category, and 40 million such handsets are produced in a quarter.

British Telecom may file similar legal claims in European courts also. This action means that the Android OS from Google has been subject to lawsuits from six large corporations; the others being Oracle, Apple, Microsoft, Gemalto and eBay.

A British Telecom spokesperson has confirmed to the Guardian that that the company has indeed commenced legal actions against Google over alleged patent infringement. The spokesman added that the pertinent patents were based on technologies relating to guidance and navigation information, individual access to content and services as well as location-based features. He also added that BT believed in continuously investing in innovation and this had resulted in the company having a large patent portfolio.

Google has however refuted the claims of British Telecom stating that they lacked in merit, and that the company is going to vigorously defend itself against the same. This latest lawsuit is being viewed as an attempt by British Telecom to legalize its huge patent portfolio.

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Last week, Volume of Mortgage applications declined by 2.6%

Home Loan Mortgage

A statistical review by Mortgage-Bankers-Association (MBA) claimed that the count of the mortgage applications in the previous week, dropped by 2.6% to that of the former week. The result has been announced this Wednesday and the survey is based in U.S. It also states that the interest rates shot to its lowest mark for the present banking year in that same week.

As per MBA’s weekly assessment, the refinance activity in U.S. also skidded by 1.6 %, which in turn covers 75% of the merchandising residential-mortgage solicitations. Procuring dropped by a 4.9% seasonal adjustments, during the week-end session on Friday.

The creditors continue charging interests at a historical low rate, but have encountered challenges, tantalizing the new debtors in the present year. It happened because of the increased unemployment, thus leading to constricted lending requisitions, which continued to pressure newer applications.

The Vice-president of MBA stated that the unusual low rates aren’t enough, since various homeowners holdback, owing to the dearth of equity in their assets, a feeble job arcade plus low credit margins.

On an average, fixed-rate mortgages for a span of 15 years alleviated to 3.39% from its previous mark of 3.44%. An average decrement from 2.93% to 2.9% occurred in case of 5/1 ARM.

The moving average for four weeks that counted every mortgage application sums up to around 0.26 per cent. The count of refinancing application for a prevailing mortgage was 79.7% in the last week, which shot up to 80.7% in the present one; this caused a hike for the year. The adjustable-rate loans (mortgages) covered up 5.1% of doings in the previous week, which is 5.6% less than that of the earlier ones.

A regular down-shot from 4.12% to 4.08% occurred in case of the mortgages on fixed-rate for a span 30 years with conformable loan-balances; in case of the similar types with jumbo-loan-balances the rate plummeted from 4.47% to 4.44%. Average rates for FHA-backed loans also skated from 3.94% to 3.93%, in the instances of 30years-fixed ones.

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