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Vringo (AMEX:VRNG) is using clout from a clutch of patents it recently acquired from Nokia, to sue Chinese mobile company ZTE’s (ZTCOY.PK) U.K. unit for infringing patents covering cellular network technology. The suit was filed after the Chinese company ignored Vringo’s September letter demanding a FRAND payment for previous infringement and licensing on FRAND terms.
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General Motors (NYSE:GM) is making good on its July promise to reverse IT outsourcing by creating 1500 jobs at a new Michigan software development centre. The positions could include software developers, database experts, analysts and others.
The Wal-Mart/AMEX Bluebird financial product gives the cold feet to stocks of prepaid card providers such as Green Dot (NYSE:GDOT), down 18.6 percent, and NetSpend Holdings (NASDAQ:NTSP), which is lower by 7 percent. The revenue models of these companies are under threat by the slew of freebies offered by Bluebird.
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