Viacom International Inc.'s $1 billion copyright infringement lawsuit against YouTube LLC and its parent company, Google Inc., threatens the way that hundreds of millions of people legitimately exchange various kinds of content via the Internet, Google contended in an answer to an amended version of the complaint filed by Viacom last month.
In court papers filed last Friday in U.S. District Court in New York, Google said that YouTube does more than it is required to do by federal law to help content owners protect their works. And Google claimed that by seeking through the lawsuit to make network carriers and hosting providers liable for Internet communications, Viacom is putting at risk the ability of online users to share "information, news, entertainment, and political and artistic expression."
Google, which was sued by Viacom in March 2007, made similar arguments against the lawsuit in an initial response filed last spring.
Viacom declined to comment on Google's latest response. The entertainment company claims that YouTube and Google are infringing on its copyrights because nearly 160,000 Viacom-owned video clips have been made available for viewing on YouTube without authorization.
Google, which acquired YouTube in late 2006, said in its filing that the video-sharing Web site has adhered to the federal Digital Millennium Copyright Act. The DMCA provides a framework for regulating copyrights in the world of electronic content. It gives copyright holders procedures to follow to protect their content when alleged violations occur, and it offers protections to Web-based businesses and Internet users to cover unintentional posting of copyrighted materials.
According to Google's filing, YouTube has responded to infringement complaints by content owners as required by the DMCA. YouTube "fulfills its end of the DMCA bargain, and indeed goes far beyond its legal obligations in assisting content owners to protect their works," Google said.
In its amended complaint, which requests a jury trial, Viacom said that while YouTube claims to be a forum for users to share their own original videos, a vast amount of the content posted on the site consists of "infringing copies" of Viacom's copyrighted works. That includes material from popular TV shows and movies such as SpongeBob SquarePants, South Park, An Inconvenient Truth, Mean Girls and many more.
"Unauthorized copies of these and other copyrighted works are posted daily on YouTube, and each is viewed tens of thousands of times," Viacom asserted in the amended complaint. It said that Google and YouTube have done almost nothing to stop the alleged copyright infringement, and have actually helped promote infringement by YouTube users.
"Defendants actively engage in, promote and induce this infringement," Viacom wrote, adding that YouTube "knowingly reproduces, distributes, publicly performs and publicly displays the copyrighted works uploaded to its site."
A federal judge ruled in March that Viacom couldn't add a request for punitive damages to the lawsuit, saying that such damages can't be collected under copyright laws.
Thursday, May 29, 2008
Oil prices tumble from record highs
Oil prices tumbled further from recent record peaks as traders sold off positions amid growing fears about US energy demand.
Analysts said a report showing a slump in US consumer confidence, marking the largest such fall in 16 years, and a separate survey showing the housing market remains in a rut triggered fresh concerns that the US economy will slow markedly.
If US economic growth slows further it could be expected to weaken energy demand, particularly oil demand, according to analysts.
New York's main oil futures contract, light sweet crude for July delivery, dived $3.34 to close at $128.85 a barrel as demand concerns spiked.
Prices in London fell more sharply as a key futures contract, Brent North Sea crude for July, settled $4.06 lower at $128.31.
The price falls came after Brent had struck an all-time high of $135.14 and New York crude reached a record $135.09 on Thursday amid concerns about tight supplies and strong demand.
Analysts said a report showing a slump in US consumer confidence, marking the largest such fall in 16 years, and a separate survey showing the housing market remains in a rut triggered fresh concerns that the US economy will slow markedly.
If US economic growth slows further it could be expected to weaken energy demand, particularly oil demand, according to analysts.
New York's main oil futures contract, light sweet crude for July delivery, dived $3.34 to close at $128.85 a barrel as demand concerns spiked.
Prices in London fell more sharply as a key futures contract, Brent North Sea crude for July, settled $4.06 lower at $128.31.
The price falls came after Brent had struck an all-time high of $135.14 and New York crude reached a record $135.09 on Thursday amid concerns about tight supplies and strong demand.
Decision on fuel price hike by Saturday
A hike in petrol and diesel prices looks imminent by the weekend after Prime Minister Manmohan Singh on Thursday finalised details of a package to bail out state-run oil firms reeling under high international oil prices.
Singh discussed with External Affairs Minister Pranab Mukherjee, Finance Minister P Chidambaram, Petroleum Minister Murli Deora and Planning Commission Deputy Chairman Montek Singh Ahluwalia the scenario emerging from doubling of crude prices since the last price hike in February.
"We discussed the various options and hopefully, by tomorrow or by day after Friday, we will have a solution," Deora told reporters after the 75-minute long meeting.
Though Deora refused to say what the expected decision would be, official sources said a hike in petrol and diesel prices along with a minor duty rejig and oil bonds for fuel retailers would form part of the package that would be placed before the Cabinet for approval.
The package, they said, would be a climb down from the Rs 10 a litre hike in petrol, Rs 5 per litre in diesel and Rs 50 per cylinder increase in LPG prices demanded by the Petroleum Ministry, along with cut in customs duty on crude oil and slashing excise duty on fuel.
"International prices touching $135 a barrel has forced down our throat Rs 225,000 crore revenue loss (on sale of petrol, diesel, LPG and kerosene). Unless we act, companies will not be left with cash to import crude," Deora said.
"The Prime Minister and Finance Minister saw papers (of projected revenue loss and options thereof). They realise very much that we need to help (PSU oil firms) on a war-footing," Deora said.
Singh discussed with External Affairs Minister Pranab Mukherjee, Finance Minister P Chidambaram, Petroleum Minister Murli Deora and Planning Commission Deputy Chairman Montek Singh Ahluwalia the scenario emerging from doubling of crude prices since the last price hike in February.
"We discussed the various options and hopefully, by tomorrow or by day after Friday, we will have a solution," Deora told reporters after the 75-minute long meeting.
Though Deora refused to say what the expected decision would be, official sources said a hike in petrol and diesel prices along with a minor duty rejig and oil bonds for fuel retailers would form part of the package that would be placed before the Cabinet for approval.
The package, they said, would be a climb down from the Rs 10 a litre hike in petrol, Rs 5 per litre in diesel and Rs 50 per cylinder increase in LPG prices demanded by the Petroleum Ministry, along with cut in customs duty on crude oil and slashing excise duty on fuel.
"International prices touching $135 a barrel has forced down our throat Rs 225,000 crore revenue loss (on sale of petrol, diesel, LPG and kerosene). Unless we act, companies will not be left with cash to import crude," Deora said.
"The Prime Minister and Finance Minister saw papers (of projected revenue loss and options thereof). They realise very much that we need to help (PSU oil firms) on a war-footing," Deora said.
Wednesday, May 28, 2008
Mkts end higher, rally led by FMCG, banks, IT, metal stks
It was a strong rebound for the markets in late trade after choppy session for major part of the day since morning and broken losing streak of last three consecutive days. Recovery led by FMCG, technology, metal, banking, telecom and pharma stocks. The Sensex managed to end above 16500 and the Nifty above 4900. Midcap stocks also bounced back.
The Sensex closed at 16,525.37, up 1.53% or 249.78 points after hitting high of 16,563.30 and low of 16,217.78. The Nifty touched a high/low of 4926.90 and 4835.65, before ending the day at 4918.35, up 1.2% or 58.55 points. Market breadth was mixed, about 1421 shares have advanced, 1497 shares declined, and 191 shares remained unchanged.
Biggest gainers were Ambuja Cements (6.66%), ITC (6.19%), Hindalco (5.96%), TCS (4.46%) and Sun Pharma (5.99%) while losers - BHEL, L&T, ONGC, M&M, Cairn, Suzlon and Dr Reddy's Labs.
The BSE Midcap was up 1.12% at 6,753.53 led by National Fert, Chambal Fert, Nagarjuna Fert, Mphasis, GSFC, Spice Comm, GNFC, Emami, Balaji Telefilm and HT Media, which were up over 7.5%. The BSE Small Cap rose 0.33% at 8,237.09.
ITC was the star performer, gained over 6% as there is news that distributor says ITC hiked cigarette prices by 5-10%. FMCG Index jumped 4.19% to end at 2,443.68. Other gainers were United Spirits, Dabur India, Colgate, Nestle, GSK Cons, HUL, P & G and Godrej Consumer.
Cement stocks were also in focus on partial removal of export ban. Ambuja Cements, ACC and India Cements gained.
Banking stocks like Axis Bank, Kotak Mahindra, PNB, Union Bank, SBI, Yes Bank, Bank of Baroda, Canara Bank and HDFC Bank have gained smartly. Bankex shot up 2.31% or 178.86 points at 7,933.50.
BSE IT was up 2.61% or 116.02 points at 4,566.42 due to buying in Mphasis, TCS, Satyam, Wipro, HCL Tech, Infosys, Patni Computer and Tech Mahindra.
Metal stocks including Hindalco, Tata Steel, Ispat Industries, NALCO, Sesa Goa, JSW Steel and Sterlite Ind have surged. Metal Index closed at 16,649.65, up 378.88 points or 2.33%.
Telecom stocks like Spice Comm, Tata Comm, Bharti Airtel, Tata Teleservices, Idea Cellular and MTNL also surged higher.
Healthcare Index increased by 1.72% at 4,320.08 as rally seen in Sun Pharma, Apollo Hospital, Glenmark, Nicholas Piramal, Sterling Bio, Aventis Pharma, Dishman Pharma, Aurobindo Pharm and Biocon.
Auto stocks like Hero Honda, Maruti Suzuki, Escorts, TVS Motor, Ashok Leyland, Hind Motors and Tata Motors ended higher. Auto Index was up 0.58% at 4,562.03.
Oil & Gas Index gained marginally by 0.65% at 10,777.91. Buying seen in GAIL, BPCL, RNRL, Reliance, Petronet LNG, HPCL and IOC.
However, capital goods stocks remained weak through the day. Index lost 1.66% or 212.23 points at 12,571.91 due to selling in Jyoti Structures, Crompton Greaves, Alstom Projects, BHEL, Suzlon Energy, Bharat Bijlee, Bharat Elec, Areva T&D and L&T.
Most active counters on the bourses were Chambal Fert, Bajaj Finserv, Reliance and ICICI Bank.
Total turnover traded by markets stood at Rs 75109.24 crore including Rs 13367.22 crore from NSE Cash segment, Rs 56333.67 crore from NSE F&O and the balance Rs 5408.35 crore from BSE Cash segment.
On the global front, Asian markets ended mixed; Nikkei, Taiwan plunged over 1% while Shanghai shot up nearly 2.5%. European markets were trading strong at the time of writing market report.
Markets
The Sensex closed at 16,525.37, up 1.53% or 249.78 points after hitting high of 16,563.30 and low of 16,217.78. The Nifty touched a high/low of 4926.90 and 4835.65, before ending the day at 4918.35, up 1.2% or 58.55 points. Market breadth was mixed, about 1421 shares have advanced, 1497 shares declined, and 191 shares remained unchanged.
Biggest gainers were Ambuja Cements (6.66%), ITC (6.19%), Hindalco (5.96%), TCS (4.46%) and Sun Pharma (5.99%) while losers - BHEL, L&T, ONGC, M&M, Cairn, Suzlon and Dr Reddy's Labs.
The BSE Midcap was up 1.12% at 6,753.53 led by National Fert, Chambal Fert, Nagarjuna Fert, Mphasis, GSFC, Spice Comm, GNFC, Emami, Balaji Telefilm and HT Media, which were up over 7.5%. The BSE Small Cap rose 0.33% at 8,237.09.
ITC was the star performer, gained over 6% as there is news that distributor says ITC hiked cigarette prices by 5-10%. FMCG Index jumped 4.19% to end at 2,443.68. Other gainers were United Spirits, Dabur India, Colgate, Nestle, GSK Cons, HUL, P & G and Godrej Consumer.
Cement stocks were also in focus on partial removal of export ban. Ambuja Cements, ACC and India Cements gained.
Banking stocks like Axis Bank, Kotak Mahindra, PNB, Union Bank, SBI, Yes Bank, Bank of Baroda, Canara Bank and HDFC Bank have gained smartly. Bankex shot up 2.31% or 178.86 points at 7,933.50.
BSE IT was up 2.61% or 116.02 points at 4,566.42 due to buying in Mphasis, TCS, Satyam, Wipro, HCL Tech, Infosys, Patni Computer and Tech Mahindra.
Metal stocks including Hindalco, Tata Steel, Ispat Industries, NALCO, Sesa Goa, JSW Steel and Sterlite Ind have surged. Metal Index closed at 16,649.65, up 378.88 points or 2.33%.
Telecom stocks like Spice Comm, Tata Comm, Bharti Airtel, Tata Teleservices, Idea Cellular and MTNL also surged higher.
Healthcare Index increased by 1.72% at 4,320.08 as rally seen in Sun Pharma, Apollo Hospital, Glenmark, Nicholas Piramal, Sterling Bio, Aventis Pharma, Dishman Pharma, Aurobindo Pharm and Biocon.
Auto stocks like Hero Honda, Maruti Suzuki, Escorts, TVS Motor, Ashok Leyland, Hind Motors and Tata Motors ended higher. Auto Index was up 0.58% at 4,562.03.
Oil & Gas Index gained marginally by 0.65% at 10,777.91. Buying seen in GAIL, BPCL, RNRL, Reliance, Petronet LNG, HPCL and IOC.
However, capital goods stocks remained weak through the day. Index lost 1.66% or 212.23 points at 12,571.91 due to selling in Jyoti Structures, Crompton Greaves, Alstom Projects, BHEL, Suzlon Energy, Bharat Bijlee, Bharat Elec, Areva T&D and L&T.
Most active counters on the bourses were Chambal Fert, Bajaj Finserv, Reliance and ICICI Bank.
Total turnover traded by markets stood at Rs 75109.24 crore including Rs 13367.22 crore from NSE Cash segment, Rs 56333.67 crore from NSE F&O and the balance Rs 5408.35 crore from BSE Cash segment.
On the global front, Asian markets ended mixed; Nikkei, Taiwan plunged over 1% while Shanghai shot up nearly 2.5%. European markets were trading strong at the time of writing market report.
Markets
truth wins
: Neelam Katara, mother of the murder victim Nitish Katara, on Wednesday termed the trial court judgement convicting prime accused Vikas and his cousin Vishal Yadav in the case as a "milestone" and hoped that it would ensure that no other person would meet the fate of her son.
"This is a milestone case and I believe this (judgement) would ensure no other son of any mother would meet such a fate (as that of her son)," she said, in her reaction to the court's verdict.
She also said that her faith in the judiciary has been strengthened with the judgement.
"My faith in the judiciary have been vindicated and strengthened with the verdict. Now I am feeling a sense of relief and am grateful to God," she told reporters outside the courtroom in the Patiala House courts here.
The victim's younger brother Nitin Katara attributed the judgement to her mother's relentless fight for justice.
"I believe he (Nitish) died for love. He died for freedom of expression, he died for that school of thought...in our generation that we are allowed to make a choice and stand by it and that belief has been vindicated today by this decision."
On being asked why she stayed away from the trial for so long, he said my mother was the big force fighting for justice and I did not want to be a distraction for her. "My mother is my God," he said.
However, G K Bharti, counsel for Yadavs, said "it seems that the trial court has given this verdict under some pressures from some quarter."
On the contrary, Special Public Prosecutor B S Joon said that in view of the evidence, he had firm belief since the very beginning that it was accused who had committed the offence.
"In my mind, it was always there that Vikas and Vishal have committed the gruesome crime and they cannot evade the conviction for their act, and you all saw and heard it today what the court had delivered," he said, adding that justice has finally been delivered.
"This is a milestone case and I believe this (judgement) would ensure no other son of any mother would meet such a fate (as that of her son)," she said, in her reaction to the court's verdict.
She also said that her faith in the judiciary has been strengthened with the judgement.
"My faith in the judiciary have been vindicated and strengthened with the verdict. Now I am feeling a sense of relief and am grateful to God," she told reporters outside the courtroom in the Patiala House courts here.
The victim's younger brother Nitin Katara attributed the judgement to her mother's relentless fight for justice.
"I believe he (Nitish) died for love. He died for freedom of expression, he died for that school of thought...in our generation that we are allowed to make a choice and stand by it and that belief has been vindicated today by this decision."
On being asked why she stayed away from the trial for so long, he said my mother was the big force fighting for justice and I did not want to be a distraction for her. "My mother is my God," he said.
However, G K Bharti, counsel for Yadavs, said "it seems that the trial court has given this verdict under some pressures from some quarter."
On the contrary, Special Public Prosecutor B S Joon said that in view of the evidence, he had firm belief since the very beginning that it was accused who had committed the offence.
"In my mind, it was always there that Vikas and Vishal have committed the gruesome crime and they cannot evade the conviction for their act, and you all saw and heard it today what the court had delivered," he said, adding that justice has finally been delivered.
Neelam Katara, mother of the murder victim Nitish Katara, on Wednesday termed the trial court judgement convicting prime accused Vikas and his cousin Vishal Yadav in the case as a "milestone" and hoped that it would ensure that no other person would meet the fate of her son.
"This is a milestone case and I believe this (judgement) would ensure no other son of any mother would meet such a fate (as that of her son)," she said, in her reaction to the court's verdict. ( Watch: ‘My son has finally got justice’ )
She also said that her faith in the judiciary has been strengthened with the judgement.
"My faith in the judiciary have been vindicated and strengthened with the verdict. Now I am feeling a sense of relief and am grateful to God," she told reporters outside the courtroom in the Patiala House courts here.
The victim's younger brother Nitin Katara attributed the judgement to her mother's relentless fight for justice.
"I believe he (Nitish) died for love. He died for freedom of expression, he died for that school of thought...in our generation that we are allowed to make a choice and stand by it and that belief has been vindicated today by this decision."
On being asked why she stayed away from the trial for so long, he said my mother was the big force fighting for justice and I did not want to be a distraction for her. "My mother is my God," he said.
However, G K Bharti, counsel for Yadavs, said "it seems that the trial court has given this verdict under some pressures from some quarter."
On the contrary, Special Public Prosecutor B S Joon said that in view of the evidence, he had firm belief since the very beginning that it was accused who had committed the offence.
"In my mind, it was always there that Vikas and Vishal have committed the gruesome crime and they cannot evade the conviction for their act, and you all saw and heard it today what the court had delivered," he said, adding that justice has finally been delivered.
"This is a milestone case and I believe this (judgement) would ensure no other son of any mother would meet such a fate (as that of her son)," she said, in her reaction to the court's verdict. ( Watch: ‘My son has finally got justice’ )
She also said that her faith in the judiciary has been strengthened with the judgement.
"My faith in the judiciary have been vindicated and strengthened with the verdict. Now I am feeling a sense of relief and am grateful to God," she told reporters outside the courtroom in the Patiala House courts here.
The victim's younger brother Nitin Katara attributed the judgement to her mother's relentless fight for justice.
"I believe he (Nitish) died for love. He died for freedom of expression, he died for that school of thought...in our generation that we are allowed to make a choice and stand by it and that belief has been vindicated today by this decision."
On being asked why she stayed away from the trial for so long, he said my mother was the big force fighting for justice and I did not want to be a distraction for her. "My mother is my God," he said.
However, G K Bharti, counsel for Yadavs, said "it seems that the trial court has given this verdict under some pressures from some quarter."
On the contrary, Special Public Prosecutor B S Joon said that in view of the evidence, he had firm belief since the very beginning that it was accused who had committed the offence.
"In my mind, it was always there that Vikas and Vishal have committed the gruesome crime and they cannot evade the conviction for their act, and you all saw and heard it today what the court had delivered," he said, adding that justice has finally been delivered.
Tuesday, May 27, 2008
Need for immediate hike in retail fuel price
The country's oil companies will lose Rs 225,000 crore in revenue this fiscal on account of spike in crude prices, a situation that calls for an immediate increase in retail fuel prices, Petroleum Minister Murli Deora has told the Prime Minister.
Sources said Deora, who called on Prime Minister Manmohan Singh here, also informed him that there was a limit to state-run oil marketing companies' capacity to absorb oil bonds and contribution by those having upstream operations.
"The upstream contribution during the year can be limited only to Rs 30,000 crore and they have a capacity to absorb oil bonds worth only Rs 35,000 crore. Another Rs 15,000 crore can be absorbed by oil marketing companies.
"This leaves a Rs 145,000 crore gap that has to be bridged with a combination of price increase and duty cuts," a source quoted Deora as informing Singh.
"I don't have anything to say," Deora told reporters when asked about his meeting with the Prime Minister.
Deora also met Chidambaram today but failed to convince him of the urgency to cut import and excise duties to avoid the Rs 2,00,000 crore revenue loss expected on petrol, diesel, domestic LPG and kerosene this fiscal. BPCL and HPCL have cash to buy crude oil only till July while Indian Oil can finance imports till September. The three firms face huge liquidity crisis as they are unable to realise full value of products sold.
Petroleum Ministry is proposing to raise petrol price by Rs 10 a litre, diesel by Rs 5 per litre and that of LPG by Rs 50 per cylinder cut the Rs 580 crore per day loss made by the three oil firms by one-third.
Sources said Deora, who called on Prime Minister Manmohan Singh here, also informed him that there was a limit to state-run oil marketing companies' capacity to absorb oil bonds and contribution by those having upstream operations.
"The upstream contribution during the year can be limited only to Rs 30,000 crore and they have a capacity to absorb oil bonds worth only Rs 35,000 crore. Another Rs 15,000 crore can be absorbed by oil marketing companies.
"This leaves a Rs 145,000 crore gap that has to be bridged with a combination of price increase and duty cuts," a source quoted Deora as informing Singh.
"I don't have anything to say," Deora told reporters when asked about his meeting with the Prime Minister.
Deora also met Chidambaram today but failed to convince him of the urgency to cut import and excise duties to avoid the Rs 2,00,000 crore revenue loss expected on petrol, diesel, domestic LPG and kerosene this fiscal. BPCL and HPCL have cash to buy crude oil only till July while Indian Oil can finance imports till September. The three firms face huge liquidity crisis as they are unable to realise full value of products sold.
Petroleum Ministry is proposing to raise petrol price by Rs 10 a litre, diesel by Rs 5 per litre and that of LPG by Rs 50 per cylinder cut the Rs 580 crore per day loss made by the three oil firms by one-third.
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