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BUSINESSTuesday 4 April 2017
Shares in UK chipmaker dive 60 pct after Apple ends contract
DANICA KIRKA of entire companies that Imagination says Apple has Imagination’s intellectual to Imagination’s assertion
Associated Press work with it. for years used the com- property rights. that Apple has not provid-
LONDON (AP) — Shares Imagination, a multimedia, pany’s technology in the “Accordingly Imagination ed any evidence to back
in chipmaker Imagination processor and communi- graphics processor units does not accept Apple’s its assertion that it can do
Technologies plunged over cations technology com- of its phones, tablets and assertions,” the company without Imagination’s tech-
60 percent on Monday af- pany, said Apple Inc. “will watches but has asserted said. There are longer-term nology without violating its
ter the British company an- no longer use the group’s that it is working on a “sep- issues than the loss of royal- intellectual property rights,
nounced that Apple plans intellectual property in its arate, independent” de- ties and license fees, which patents and confidential
to stop using its products. new products” within two sign to control its products. amounted to 60.7 million information. To defend its
The development high- years. That would mean the Imagination said “it would pounds last year. rights, Imagination may ul-
lights how, through its sheer company wouldn’t be eli- be extremely challenging” Nick Kounoupias, a Lon- timately have to sue the
size, Apple’s decisions can gible for royalty payments for Apple to design a new don-based intellectual world’s biggest publicly
make or break the fortune under existing agreements. product without infringing property expert, pointed traded company.q
Charter won’t have to compete with other cable companies now
TALI ARBEL This photo shows a Charter Communications van in St. Louis. Now cable giant Charter won’t have only broadband provider
AP Technology Writer to compete with other cable companies in new areas. Federal telecom regulators have tweaked in those areas in the long
NEW YORK (AP) — Federal a condition of its deal to buy Time Warner Cable. They had said Charter would have to compete term.
regulators are letting Char- with another fast-internet provider for 1 million customers. Now they can build in areas that don’t Charter bought Time War-
ter out of a requirement have fast internet. ner Cable and Bright House
that would have forced in May 2016 for $67 billion.
it to compete with other (AP Photo/Jeff Roberson) The buildout was one of
broadband providers and the conditions Charter ac-
possibly cut prices. The agency’s new chair- ready service. Americans.” cepted in order to win FCC
The decision relaxes one of approval for the deal.
the conditions imposed on man, Ajit Pai, says getting The reversal is the latest in The sole remaining Demo- Gigi Sohn, who had been
Charter when it absorbed more Americans online — a slew of measures at the cratic commissioner at an adviser to the FCC
Time Warner Cable and what’s called “closing the FCC that benefit the tele- the FCC, Mignon Clyburn, chairman at the time, Tom
represents another sign Wheeler, blasted the rever-
that the country’s telecom digital divide” — is impor- com industry. agreed with the decision. sal and said it would not be
cop is tilting in favor of the effective in getting many
industry it monitors. tant to him. He wants to cut Pai said in a statement She said that “it has be- more people online.
Charter Communications regulations to encourage Monday that the previous come clear” that Charter “They can build out their
had agreed to extend its broadband companies buildout requirement had will choose to build in mar- networks but people won’t
network to areas where be able to buy their service.
there is already a broad- to expand their networks not been in the public in- kets where it has the weak- You can’t close the digital
band provider. This require- divide without dealing with
ment was enacted be- and doesn’t see the point terest and was “against the est competitors. She said the price issue,” she said.
cause most U.S. households “This FCC is bound and
don’t have a choice for of mandating a network goal of promoting great- she worried that Charter determined to make sure
high-speed home internet. buildout where there is al- er Internet access for all would wind up being the incumbents don’t have to
Greater competition could compete.”
lower prices. Americans without access
But smaller cable compa- to home broadband skew
nies worried about that poor and rural, where it’s
competition and asked the more expensive for internet
Federal Communications service providers to con-
Commission to revisit the nect houses.
requirement. Charter said in a statement
Under a new regime, the that the FCC’s change will
FCC said Monday that let it “more fully devote our
Charter can instead build resources and attention to
in areas where there isn’t building out high-speed
high-speed internet al- broadband to areas with-
ready. out it today.”q
US construction spending rose to nearly 11-year high
CHRIS S. RUGABER 2006, after two months of this year. has pledged to reverse with February 2016. Infra-
declines, the Commerce State and local govern- that trend by boosting in- structure concerns have
AP Economics Writer Department said. ments spent 0.9 percent frastructure spending by resurfaced after a large fire
Builders are rapidly putting more on construction, driv- $1 trillion over the next de- last week caused the col-
WASHINGTON (AP) — U.S. up more homes in response en by roads, schools and cade. Yet it’s unclear when lapse of a highway bridge
to strong demand that has recreational buildings. legislation to bring about outside Atlanta, snarling
developers ramped up pushed up prices for exist- The federal government, such an increase will be in- rush-hour traffic.
ing homes. meanwhile, cut construc- troduced. The construction of com-
construction spending Yet it hasn’t yet been tion spending for the sec- State and local govern- mercial buildings such as
enough to relieve a short- ond straight month and has ments have also spent less hotels, office towers, and
in February to the larg- age of homes for sale. cut back 9 percent from a on construction in the past hospitals fell 0.3 percent
The accelerated building year ago. year. They are spending in February, the second
est amount in nearly 11 could boost the economy President Donald Trump 8 percent less compared straight decline. q
years, led by more building
of homes, highways and
schools.
Construction spending rose
0.8 percent in February to
the highest level since April