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In Brazil, Apple faces iPhone snag

Apple Inc. likely will have to pay a Brazilian company for the right to use the iPhone brand in Latin America’s biggest country, a Brazilian telecommunications analyst said Thursday.

Brazil’s Gradiente SA started selling Android smartphones with the iPhone brand last week after winning the legal right to use the name in Brazil.

“The most likely scenario” is that the two companies will reach an agreement whereby Apple will pay Gradiente for the use of the brand,” said Eduardo Tude, president of Brazilian telecommunications consultancy Teleco.

He said Apple will probably agree because it “doesn’t want to stop selling its product in Brazil.”

Apple spokeswoman Maria Parra Rodriguez said the company would not comment on the matter.

Last week, Gradiente said it filed its request to use the iPhone brand in 2000 when it realized “there would be a technological revolution in the world of cellphones with the convergence of voice and data transmission and reception via mobile Internet.”

In 2008 Brazil’s government gave Gradiente the right to use the brand on its cellphones.

150,000 Nap Nanny baby recliners recalled

Four national retailers agreed to recall more than 150,000 Nap Nanny baby recliners after at least five infant deaths and dozens of reports of children nearly falling out of the recliners, the Consumer Product Safety Commission said Thursday.

The recall covers Nap Nanny Generations One and Two, and the Chill model infant recliners. All were sold between 2009 and 2012.

The Nap Nanny was designed to mimic the curves of a baby car seat, elevating an infant slightly to help reduce reflux, gas, stuffiness or other problems.

The CPSC warned parents and caregivers that the Nap Nanny contains defects in design, warnings and instructions. The agency said the product poses a substantial risk of injury and death.

Hedge fund boss must pay SEC $1.45 million

A hedge fund founder serving the longest prison term ever given for insider trading also will be writing the government another big check.

Raj Rajaratnam, a one-time billionaire convicted last year of trading on inside information, will pay nearly $1.45 million to settle a civil case brought by the Securities and Exchange Commission, court documents show. A federal judge Thursday approved the deal, which requires Rajaratnam to pay the settlement within 90 days and waive any right to appeal it.

The documents say the settlement includes $1.29 million representing “profits gained and losses avoided” as a result of trading on tips from a former Goldman Sachs Group Inc. director convicted in June. The settlement also includes $148,000 in prejudgment interest.

Toyota expects to sell 9.7 million vehicles

Toyota expects to sell a record 9.7 million vehicles this year, bouncing back by 22 percent from a disaster-struck 2011. It has set an even higher target of 9.91 million vehicles for 2013.

The numbers released this week underline Toyota Motor Corp.’s solid turnaround from supply disruptions caused by the earthquake and tsunami in northeastern Japan in 2011 that hurt global production and sales.

They also underline the Japanese automaker’s ambitions to move past the woes from massive recalls that began in 2009, especially in North America.

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