A major copyright dispute stretching to 2010 between Oracle Corp. and Alphabet Inc.'s Google division is headed to the Supreme Court, the court said on Friday. The dispute centers on 11,500 lines of code that Google is accused of copying from Oracle's Java programming language, Oracle claims in a 9-year-old lawsuit seeking $9 billion in damages. Google, which deployed the code in Android, had won in lower courts but lost an appeal before the U.S. Court of Appeals for the Federal Circuit, which ruled last year for Oracle.
Shares of BT Group PLC fell as much as 3.6% on Friday before recouping losses after the U.K. Labour Party said it plans to partially nationalize the telecommunications provider if it wins the Dec. 12 General Election. The remarks came from an excerpt of a speech planned for Friday by Labour leader Jeremy Corbyn. Labour wants to bring parts of BT's digital into public ownership in order to bring "fast and free fiber-broadband" internet for all, starting with regions that have the worst broadband access. The plan will be paid for through Labour's Green Transformation fund and by taxing U.S. multinational corporations Amazon , Facebook and Alphabet parent Google , the speech said. Those companies did not immediately respond to a request for comment. "It should be a top political priority to super-charge the roll-out of full fibre broadband and 5G right across the U.K. so we can build the digital economy of the future. Whatever the result of the election, we'd encourage the next Government to work with all parts of the industry to achieve that. It's a national mission that's bigger than any one company," said BT in a statement.
Amazon.com Inc. plans to protest the award last month of a 10-year, $10 billion Pentagon cloud-computing contract to Microsoft Corp. that many assumed would go to Amazon. The controversial JEDI deal has been contested for months, prompting one previous bidder, Oracle Corp. , to file a lawsuit disputing the selection process. "AWS is uniquely experienced and qualified to provide the critical technology the U.S. military needs, and remains committed to supporting the DoD's modernization efforts. We also believe it's critical for our country that the government and its elected leaders administer procurements objectively and in a manner that is free from political influence. Numerous aspects of the JEDI evaluation process contained clear deficiencies, errors, and unmistakable bias -- and it's important that these matters be examined and rectified," an Amazon spokesman said in a statement to MarketWatch on Thursday.
Shares of Apple Inc. are down 0.7% in premarket trading Thursday after Maxim Group analyst Nehal Chokshi downgraded the stock to sell from hold. He expects that the company's March-quarter revenue will come in 14% below consensus estimates and that fiscal 2020 revenue will end up 6% below consensus figures. "We expect operating profit to decline year over year due to our below consensus iPhone view, despite ongoing growth in services and wearables," he wrote. Chokshi also projects a deceleration in Apple's wearables, home, and accessories category in fiscal 2021 due to what could be tougher competition from a combined Alphabet Inc. and Fitbit Inc. . He set a $190 price target on the shares, which have gained 68% so far this year to reach a recent $264.47. The Dow Jones Industrial Average is up 19% so far in 2019.
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Alphabet, Inc. is a holding company, which engages in the business of acquisition and operation of different companies. It operates through the Google and Other Bets segments. The Google segment includes its main Internet products such as Ads, Android, Chrome, Commerce, Google Cloud, Google Maps, Google Play, Hardware, Search, and YouTube. The Other Bets segment includes businesses such as Access, Calico, CapitalG, GV, Nest, Verily, Waymo, and X. The company was founded by Lawrence E. Page and Sergey Mikhaylovich Brin on October 2, 2015 and is headquartered in Mountain View, CA. (See Full Profile)