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Google Targeted in European Antitrust Complaint Led by Microsoft

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By The Associated Press

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Philippe Wojazer/AP Google CEO Eric Schmidt, left, and French President Francois Hollande sign an agreement at the Elysee Palace in Paris on Feb. 1. On Tuesday, more than a dozen technology companies filed a complaint against Google, alleging unfair trade practices in Europe.

By JUERGEN BAETZ

BRUSSELS — Google is using unfair practices to cement its control over mobile Internet usage on smartphones, a group of companies led by Microsoft alleged in a European antitrust complaint Tuesday.

The “FairSearch” initiative of 17 companies — which includes Microsoft Corp. (MSFT), Nokia Corp. (NOK) and Oracle Corp. (ORCL) — claims Google is acting unfairly by giving away its Android operating system to mobile device companies on the condition that the U.S. online giant’s own software applications like YouTube and Google Maps are installed and prominently displayed.

“Google is using its Android mobile operating system as a Trojan horse to deceive partners, monopolize the mobile marketplace, and control consumer data,” said Thomas Vinje, the group’s Brussels-based lawyer.

Android operating systems have the largest share of the smartphone market worldwide, followed by Apple Inc.’s (AAPL) iOS platform with systems from Blackberry (BBRY), Microsoft and others far behind.

“Google’s predatory distribution of Android at below-cost makes it difficult for other providers of operating systems to recoup investments in competing with Google’s dominant mobile platform,” FairSearch said in a statement.

The European Commission, the 27-nation bloc’s executive arm and antitrust authority, is not obliged to take any action other than reply to the group’s complaint.

Google Inc. (GOOG) didn’t address the complaint’s charges in detail. “We continue to work cooperatively with the European Commission,” said Google spokesman Al Verney.

The U.S. company is already under investigation by Brussels for practices related to its dominance of online search and advertising markets.

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That complaint, filed in 2010, alleges Google unfairly favors its own services in its Internet search results, which enjoy a near-monopoly in Europe. Google has proposed a list of remedies to address the Commission’s concerns to achieve a settlement. The Commission is currently examining the proposed changes.

In China, Google has already come under official scrutiny because of Android’s dominance of the mobile smartphone market there.

Several European data privacy regulators have also launched an investigation into Google’s practices, alleging the company is creating a data goldmine at the expense of unwitting users.

Last year, the company merged 60 separate privacy policies from around the world into one universal procedure. The European authorities complain that the new policy doesn’t allow users to figure out which information is kept, how it is combined by Google services or how long the company retains it.

The policy allows Google to combine data collected from one person as they use …read more

Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

24/7 Wall St. Closing Bell — March 13, 2013: Markets Hold On for Small Gains (BA, ORCL, WAG, YUM, EPB, DOLE, COOL, PPHM, EXPR, BFAM, MW, VRA, LODE, SOL, SPPI, VLO, EBAY)

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By 24/7 Wall St.

Bull and Bear figures

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U.S. equity markets opened slightly lower this morning following on some poor data on eurozone industrial production, which fell more than expected. Non-farm payrolls fell more than expected in France and the country’s CPI rose less than analysts had forecast. There was no data out of Asia this morning, but there are worries that China will tighten lending requirements for home purchases as the country tries to cool off the real estate market. In the U.S., retail sales came in better than expected (more coverage here), but new applications for mortgages fell as interest rates rose (more coverage here). The Business Roundtable released its economic outlook for spring, which suggests that sales and capital spending will rise, but hiring will remain slow (more coverage here).

The U.S. dollar index rose 0.34% today, now at 82.865. The GSCI commodity index is up 0.1% at 649.62, with commodities prices mostly lower today. WTI crude oil closed down fractionally today, at $92.52 a barrel, following the release of the EIA’s inventory report (more coverage here). Brent crude trades down 1.2% at $108.40 a barrel. Natural gas is up 1% today at about $3.68 per million BTUs. Gold settled down 0.2% today at $1,588.40 an ounce, largely due to the stronger dollar.

The unofficial closing bells put the DJIA up more than 5 points to 14,455.28 (0.04%), the NASDAQ rose nearly 3 points (0.09%) to 3,245.12, and the S&P 500 rose 0.13% or about 2 points to 1,554.52.

There were a several analyst upgrades and downgrades today, including Boeing Co. (NYSE: BA) reiterated as ‘buy’ with a price target of $100 at BofA/Merrill Lynch; Oracle Corp. (NASDAQ: ORCL) raised to ‘buy’ at Canaccord Genuity; Walgreen Co. (NYSE: WAG) raised to ‘buy’ at UBS; Yum! Brands Inc. (NYSE: YUM) maintained as ‘outperform’ and price target raised to $70 at Credit Suisse; and El Paso Pipeline Partners LP (NYSE: EPB) cut to ‘neutral’ and price target raised to $44 at Credit Suisse (more coverage of MLP ratings here).

Earnings reports since markets closed last night resulted in several price moves today, including these: Dole Food Company Inc. (NYSE: DOLE) is down 8.8% at $10.70; Majesco Entertainment Co. (NASDAQ: COOL) is down 16.3% at $0.60; Peregrine Pharmaceuticals Inc. (NASDAQ: PPHM) is down 8.2% at $1.45; and Express Inc. (NYSE: EXPR) is down 2.7% at $18.35 (more coverage here).

Before markets open tomorrow morning we are scheduled to hear from Bright Horizons Family Solutions Inc. (NYSE: BFAM), Men’s Wearhouse Inc. (NYSE: MW), Vera Bradley Inc. (NASDAQ: VRA), Comstock Mining Inc. (NYSEMKT: LODE), and ReneSola Ltd. (NYSE: SOL).

Some standouts among heavily traded stocks today include:

Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI) is down 37.6% at $7.76 after posting a new 52-week low of $7.73 earlier today. The drugmaker lowered full-year guidance today by 40%, and the shorts had a field day.

Valero Energy Corp. (NYSE: VLO) is down 4.4% at $43.53. The oil refiner received an analyst downgrade today linked to the rising cost of renewable fuel credits.

eBay Inc. (NASDAQ: EBAY) is down …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

IWF, ORCL, VZ, PEP: ETF Outflow Alert

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By ETFChannel.com Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Growth Index Fund (AMEX: IWF) where we have detected an approximate $68.2 million dollar outflow — that’s a 0.4% decrease week over week (from 255,550,000 to 254,550,000). Among the largest underlying components of IWF, in trading today Oracle Corp. (NASD: ORCL) is up about 0.7%, Verizon Communications Inc (NYSE: VZ) is down about 0.4%, and PepsiCo Inc. (NYSE: PEP) is lower by about 0.1%. For a complete list of holdings, visit the IWF Holdings page »
Source: FULL ARTICLE at Forbes Markets