Webwire: Australia fines Apple; UK strikes Nike Tweets

An Australian court today fined Apple A$2.25 million (€1.8 million) for misleading consumers in adverts for its latest iPad. Competition authorities complained in March about the use of the term ‘4G’, because the device doesn’t work on domestic LTE networks.
 
The UK’s advertising authority has banned ads for Nike posted as Tweets on the pages of footballers Wayne Rooney and Jack Wilshere. The action is the authority’s first against campaigns on the social network.
BBC 
 
Venture capitalist Peter Thiel is launching a new firm to support start up tech firms, with an initial pot of $402 million (€317 million). Thiel’s previous credits include co-founding PayPal, and leading the first outside investment in Facebook.
 
Chipmaker Renesas’ three main shareholders – NEC, Mitsubishi Electric and Hitachi – are open to lending more to the loss-making business, as part of a potential 50 billion Yen (€495 million) bailout.
 
Nigeria’s four largest telcos – MTN, Glo, Airtel and Etisalat – are set to pay regulatory fines of 1.17 billion Nigerian Nairas (€5.6 million) this week. The country’s Communications Commission levied the fines last month over poor quality of service.
 
Flash memory storage manufacturer SanDisk is seeking to tap growth in Oman’s ICT business, through a partnership with local firm Souq Technology International. The value of the market is tipped to hit $635 million (€501 million) by 2016.

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