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Apple Ordered To Pay $625M To VirnetX In FaceTime Lawsuit

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Apple has been ordered to pay $625 million to patent troll VirnetX after a U.S. court judged that the iPhone-maker had infringed on patents used in its iMessage and FaceTime services.

In a statement, the legal firm representing VirnetX said the “jury saw what we have been saying all along: Apple has been infringing VirnetX’s patented technology for years”.

Apple said it would appeal the decision arguing that the patents in question are not valid.

Apple says it is “surprised and disappointed by the verdict and we’re going to appeal. Our employees independently designed this technology over many years, and we received patents to protect this intellectual property”.

The company went on to state that all four of VirnetX’s patents “have been found invalid by the patent office. Cases like this simply reinforce the desperate need for patent reform”.

Nevada-based VirnetX previously won $368 million from Apple in 2013 when a U.S. court adjudged that it infringed on patents used in FaceTime and its VPN service inside iOS.

Apple later tweaked its services, but VirnetX argued that the changes weren’t enough.
Source: TechCrunch

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John Mahfood “I Listed on the JSE to Raise Capital for My Business”

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JSE Online Trading Platform

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Grace Stockholders To Vote On 3-for-1 Stock Split Today

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Shareholders of GraceKennedy Limited will this morning meet to consider and, if thought fit, approve a recommendation for a three-for-one stock split.

If approved, shareholders will receive three stocks for each one that is currently held.

According to group CEO Don Wehby, the stock units with a market price of J$115.00 per stock unit prior to the split will now increase threefold with an initial price of J$38.33 per stock unit

He says the stock split would allow GK’s stock to be made available to more investors while further enhancing the market for the shares.

Ahead of this morning’s Extraordinary General Meeting, GK last week issued 59,360 additional GK shares.

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UK Loses S&P Triple A Rating

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The UK has lost its top AAA credit rating from ratings agency S&P following the country’s vote to leave the EU.

S&P says the referendum result could lead to “a deterioration of the UK’s economic performance, including its large financial services sector”.

Earlier the pound plunged to a 31-year low against the dollar, and UK markets closed lower for a second day. On Friday,

Moody’s cut the UK’s credit rating outlook to negative.

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Caribbean Hotels Named In Jetsetters’ 2016 Best Of The Best

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Three Caribbean hotels have been named in US-based travel and lifestyle magazine Jetsetter’s 2016 Best of the Best awards.

The list which was published recently, highlighted the world’s 20 best hotels in categories ranging from Best Over-The-Top Luxury to Best Safari Lodge.

Included in the list were Antigua and Barbuda’s Barbuda Belle Luxury Beach Hotel, Anguilla’s Zemi Beach House Resort & Spa, and St Lucia’s BodyHoliday.

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