- Boeing Gets Order for Up to 30 Jets From Dubai. Emirates Airline of Dubai, the largest Arab airline, has placed an order for thirty commercial 777 jets from American aviation giant Boeing. The transaction which is estimated to be worth about $7 billion, further bolsters airlines’ confidence in Boeing’s jets and shows the start of the recovery of the airline industry. Airbus, Boeing’s European rival, and Boeing both projected that commercial air traffic will regain its growth over the next couple years. However, this deal proves that this new growth and need for more airplanes will be fastest and strongest in the Middle East and China.
- Google 1, LVMH 0. In a world where technology is continuously advancing, companies are finding themselves faced with intellectual property issues and disputes. Google allows advertisers to bid on small text ad terms, regardless of whether or not the bidders own the trademark. However, LVMH, the French company that owns Louis Vuitton, said that allowing companies to bid on terms containing “Louis Vuitton” was a trademark infringement. The French court initially voted in favor of LVMH, but has now reversed the ruling to be in favor of Google. If the decision had stayed, Google could have faced serious administrative and financial problems.
- European Regulators Go After Google. Skeptical European regulators have always had a fear of “bigness,” which they exemplified in the past anti-trust examinations of Microsoft. Today, however, they are going after the heart of Google, its advertising business of AdWords text. Google has always kept it a secret as to how it decides which advertising strategies to utilize for its services. Now, however, French regulators have sided with a French GPS location company, requiring Google to reactivate the company’s account, which previously had been shut down. This seems to be the beginning of regulators’ attempts to make Google’s advertising system and procedures more transparent.
- New BNY Mellon CEO Seeks More Deals, Hires. Bank of New York Mellon Wealth Management is looking for more deals and hires in various markets across the U.S. and the world. Chief Executive Lawrence Hughes says he intends to expand organically by increasing BNY Mellon’s existing sales force, and to expand through acquisitions in strategic markets. BNY recently acquired the Canadian investment advisor, I(3) Advisors, to further extend global expansion. The company is also seeking to increase hiring in countries where their asset management and investment services are already established, such as Brazil and China. The company has seen 17 consecutive quarters of growth, something Hughes says has been aided by BNY’s expansions over the past 19 years.
- Toyota Settles Infringements Case of Hybrid Patent. Japanese car maker, Toyota Motor Corp., has settled a patent-infringement dispute through an agreement with Paice LLC, as hearings were to begin on a claim against Toyota by the U.S. International Trade Commission (ITC). Alex Severinsky, founder of Paice, said that his 1994 patented system for powering electric hybrid cars was taken and used by Toyota without his permission. The ITC is set up to eliminate unfair trade practices, and when a violation occurs, it can ban the product, a decision that if made would cause severe financial damage to Toyota. On the other hand, the ITC must also see whether Severinsky has the right to protect or be reimbursed for the millions of dollars invested in his patented invention.
Compiled and summarized by Aylin S. Khor