Webwire: ST-Ericsson cuts jobs as profit falls; Facebook snaps up AOL patents
ST-Ericsson will cut 1,700 jobs after slipping to an operating loss of $326 million (€247 million) in the first quarter. It is also partnering with co-owner STMicroelectronics to develop application processors, after failing to forge a deal with four other firms.
Facebook will pay around $550 million (€417 million) for 650 of the 925 patents Microsoft recently acquired from AOL for $1 billion.
In an initial determination, the ITC has upheld Motorola Mobility's claims that Microsoft's Xbox game system infringes on its patents, but only for four out of the five patents named in the case.
UK regulator Ofcom is probing whether Sky News broke broadcasting rules by hacking the e-mail of a man who faked his own death, but was still communicating with his wife.
Chinese e-commerce site Alibaba.com’s 1Q profit fell 25% year-on-year to 339.2 million yuan (€40 million) on the back of higher operating costs. The firm has appointed an independent board committee to look into a share buyback to take the company private.
A Chinese court is attempting to mediate a truce between Apple and Proview in a dispute over rights to the iPad name in the country.