Business World

Monday 9 December 2019

Firms sue Motorola for €100m damages


THREE Irish companies suing Motorola for €100m damages over alleged breach of agreements over provision of broadband services here have so far failed to precisely identify their case against the telecommunications firm, the Commercial Court has ruled. But Mr Justice Peter Kelly yesterday said he would give the companies "a final opportunity" to make their case. The case has been brought by IBB Internet Services Ltd, Irish Broadband Internet Services Ltd (trading as Imagine Networks, and Imagine Communications Group Ltd (ICG), all of Barrow Street, Dublin.

Treasury acquires Chinese mall


TREASURY Holdings, trustee manager of Treasury China Trust (TCT) say it has acquired Huai Hai Mall in Shanghai for $109.50m (€62.24m). This acquisition reinforces TCT's position as a leading force in China's commercial real estate market, the company said.

'Huffington Post' launches UK edition


'THE Huffington Post' has launched a British edition, in the first expansion outside North America for its news and opinion website. It is trying to push into international markets following its acquisition in February by AOL for $315m (€218m).

Facebook is 'feeling good' about rates


FACEBOOK, the biggest social network, said advertising rates have held up even after it added new ways for marketers to promote products, allaying concern that prices would decline as inventory surged. David Fischer, vice president, advertising and global operations said, "We feel good about where we are."

Smartphone maker doubles profits


TAIWANESE smartphone maker HTC has reported that its profits more than doubled in the three months to June on growing demand for its phones. HTC said it had made a net profit of 17.52bn Taiwanese dollars (€424m) in the period, up from NT$8.64bn during the same quarter last year.

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