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What's In The News: August 24, 2012

Financial News Network
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September 25, 2012 AT 1:46 PM
From Fnno.com, This is the financial news network. Here's what's in the news for Friday August 24, 2012. The Wall Street journal reports a South Korea court delivered a split decision in its piece of the global legal battle between Apple (NASDAQ:AAPL) and Samsung Eelectronics (PINK:SSNLF) over mobile computing patents. The court said Apple infringed on two Samsung technology patents, while Samsung violated one of Apple's patents. The court awarded small damages to both and said they must halt sales of the infringing products in South Korea. The Wall Street Journal also reports U.S. mutual funds run by Morgan Stanley (NYSE:MS), the lead underwriter in Facebook's (NASDAQ:FB) $16B IPO, have disproportionately high investments in the social-media company, leaving fund shareholders exposed to the stock's decline. Reuters reports Qatar, the second-largest shareholder in takeover target Xstrata (PINK:XSRAY), bought nearly $38M of additional shares in the miner, increasing its holding to over 12% and raising the stakes in a standoff with rival investor Glencore. Reuters also reports Banco Santander (NYSE:SAN) is looking to list its Mexican unit in Mexico and New York on September 25, sources say, as the bank will look to raise between $3B and $4B in the offering. Finally, Bloomberg reports Vodafone Group (NASDAQ:VOD) is nearing an agreement with Kuwait's Mobile Telecommunications Co., known as Zain, to expand access to networks across the Middle East. For more financial news and analysis follow us on Twitter @FNNOnline or check out our website at fnno.com.