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The old policy forbade buybacks when Berkshire traded, as it long has, at more than 20 percent above book value. Morgan Stanley analyst Kai Pan, who rates Berkshire “equal-weight,” on Monday wrote that the change means Berkshire will “likely” return some excess capital to shareholders. Shanahan is not certain there will be buybacks soon. “The question is the willingness,” he said. “With the results they reported and the stock price moving higher, it makes buybacks less likely.”.
(Reuters) - Arista Networks Inc (ANET.N) will pay $400 million to Cisco Systems Inc (CSCO.O) to resolve a U.S, court fight between the two network equipment makers, Arista said in a regulatory filing on Monday, the day a jury trial in the dispute was scheduled to begin, The settlement resolved U.S, lawsuits filed by Cisco alleging Arista copied its intellectual property, The deal also called for Arista to drop a lawsuit alleging Cisco engaged in anticompetitive conduct to preserve its dominant share of the ethernet switch market, The jury matte gold wonder woman logo cufflinks trial in that case was to have started on Monday in San Jose, California..
The companies said in a joint statement that the settlement “demonstrates their commitment to the principles of IP protection.”. Founded in 2004 by former Cisco engineers, Arista has emerged as a rival to Cisco in the multibillion-dollar market for ethernet switches used in data centers. Cisco sued Arista in 2014, alleging it brazenly copied software that runs switching products and other technology protected by patents and copyrights. Arista has denied the allegations and accused Cisco of a smear campaign intended to stifle competition.
The U.S, International Trade Commission ruled in 2016 that Arista infringed three patents and recommended a limited ban on Arista’s products that infringe the patents, Arista said that in an effort to comply with the ITC’s ruling it redesigned its technology to remove elements found to infringe Cisco’s patents, Arista scored a major victory of its own in 2016, when a U.S, jury said it owed no damages over Cisco’s claims of copyright infringement, The settlement came matte gold wonder woman logo cufflinks shortly before a trial in a 2016 antitrust lawsuit filed by Arista, It alleged Cisco permitted rivals to use its interface technology and then later, after they were locked into using it, claimed copyright protection on it..
Cisco denied the allegations in court filings, saying it never encouraged Arista to adopt its technology and that it acted reasonably in suing for copyright infringement. The companies said in the joint statement that “with limited exceptions, no new litigation will be brought over patents or copyrights related to existing products, for five years.”. The settlement does not resolve Cisco’s appeal of the 2016 verdict that Arista was not liable for damages under U.S. copyright law. A federal appeals court heard arguments relating to those claims in June and likely will issue a ruling later this year.
SEOUL (Reuters) - BMW’s (BMWG.DE) South Korean unit apologized over a spate of engine fires, estimated by the country’s transport ministry at 27 over January to July, that has prompted a government probe and a major backlash from consumers, BMW said it will launch a recall of 106,000 diesel vehicles, including the 520d, starting from Aug, 20, citing defects in the exhaust gas recirculation system as the root cause of the fires, “For the recent series of fire incidents happened in the country, we sincerely apologize for causing matte gold wonder woman logo cufflinks worry and anxiety among people and government authorities,” BMW Korea Chairman Kim Hyo-joon said at a press conference on Monday..
BMW, the second-most popular foreign carmaker in South Korea, said it had learned of the problems in 2016, but it identified the root cause of the problem in June this year. The automaker has announced a “technical campaign” in Europe, followed by recalls in South Korea, citing similar failure rates of the system in both regions. South Korea’s transport ministry said it has urged BMW executives to cooperate in the ongoing probe, saying they were falling short of submitting related documents. The government launched the probe into the affected models on July 16.
Last week, Transport Minister Kim Hyun-mee said the country would investigate the case in a “thorough and transparent manner” and take legal action if needed, A total of 13 South Korean owners of matte gold wonder woman logo cufflinks BMW vehicles filed a class action lawsuit against the German automaker on Friday, claiming compensation worth 5 million won ($4,447.13) each, saying they could not drive their cars out of fear the faulty part could catch fire, Yonhap News Agency reported, BMW, which trails only Mercedes in imported car sales in South Korea, saw sales more than double to 59,624 vehicles last year, from five years ago..
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