Judge: Apple aimed to raise e-book prices

Published: 7/11/13 @ 12:00

Judge: Apple aimed to raise e-book prices

new york

Apple Inc. milked the popularity of its iTunes store to form an illegal cartel with publishers to raise electronic- book prices, a federal judge ruled Wednesday, citing ?compelling evidence? from the words of the late Steve Jobs.

Wednesday?s ruling by U.S. District Judge Denise Cote in New York sided with government regulators? contention that Apple joined five major book publishers to gang up on Amazon.com in a price-fixing conspiracy that caused consumers to pay more for electronic books.

Bernanke: US still needs Fed?s stimulus

washington

Chairman Ben Bernanke said Wednesday the U.S. economy still needs help from the Federal Reserve?s low interest rate policies.

Bernanke told the NationalSFlbBureau of Economic ResearchSFlbthat because unemployment remains high and inflation is below the Fed?s target, the policies are still necessary. He also said the economy is being held back by higher taxes and federal spending cuts.

Associated Press

Selected local stocks

STOCK, DIVIDENDCLOSECHANGE

Aqua America, .76, 32.55 .22

Avalon Holdings,3.49?.16

Clear Channel, .61 28.24 ?.05

Cortland Bancorp, 10.24?.01

Farmers Nat., .126.39 .00

First Energy, 2.20, 36.82.01

FirstMerit Corp., .64,21.01 .07

First Niles Financial, .32,10.00.00

First Place Fin., .0031.00

FNB Corp., .48,12.76?.14

General Motors,35.34.42

General Electric, .76,25.5562?.06

Motors Liquidation, .0422.00

Huntington Bank, .20, 8.26?.20

JP Morgan Chase, 1.52,54.84?.05

Key Corp, .22,11.78?.10

LaFarge, 15.27 ?.10

Macy?s, 1.00, 49.46?.91

Parker Hannifin, 1.80, 98.12.11

PNC, 1.76,74.57?1.69

RTI Intl. Metals,29.78.25

Simon Prop. Grp.,4.60,160.82?.90

Stoneridge 12.555 .02

United Community Fin. 4.65.12

Selected prices at 4 p.m. Wednesday. Provided by Stifel Nicolaus. Not to be construed as an offer or recommendation to buy or sell any security.

Source: http://www.vindy.com/news/2013/jul/11/judge-apple-aimed-to-raise-e-book-prices/?mobile

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