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Economy Briefs: Apple lists Samsung products it wants banned
The products are: Galaxy S 4G, Galaxy S2 AT&T, Galaxy S2, Galaxy S2 T-Mobile, Galaxy S2 Epic 4G, Galaxy S Showcase, Droid Charge and Galaxy Prevail.
A judge will decide the issue later.
Apple claimed in a sweeping lawsuit that Samsung’s smartphones and computer tablets “slavishly copied” the iPhones and iPads. Samsung countered with its own claims that Apple used its wireless technology without proper compensation.
A nine-person jury in its verdict last week unanimously agreed with Apple and ordered Samsung to pay $1 billion. Most of the damages were tied to Samsung’s smartphones. It rejected Samsung’s counterclaims.
Hertz to buy Dollar Thrifty
NEW YORK — Hertz is one-step closer to its long-awaited prize.
More than two years after its original bid, it agreed Sunday to buy Dollar Thrifty Automotive Group Inc. for about $2.3 billion, giving it more ways to attract travelers and expand its international presence. It will also give the company a leg up against competition from an increasing number of smaller competitors.
At $87.50 per share, the deal is worth far more than any of Hertz’s previous bids and about 8 percent higher than Dollar Thrifty’s closing price Friday.
Nothing will change immediately for consumers. Travelers that rent through Dollar Thrifty will still visit that counter for service. In the long run, prices in many markets will almost certainly rise as the two companies streamline their operations.
Both rental companies have grown stronger and more valuable in the years since they first considered teaming up. Both stocks have almost doubled in value, and they’ve reported robust quarterly financial results as the volume of car rentals soared. But still-fierce competition has prevented the industry from raising prices, which has dragged on revenue. Fewer big competitors mean a better chance of higher rates.
The push-and-pull between two of the nation’s largest car rental companies started in 2010. Avis Budget Group was also in the mix, pursuing a bid for Dollar Thrifty for more than a year.
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