EU court OKs resale of software licenses

LUXEMBOURG (AP) ? The European Union's highest court ruled Tuesday that software makers cannot keep people who download programs from selling their licenses for those programs to others ? as long as they disable their own copies.

The ruling comes in a case brought by California-based software maker Oracle against UsedSoft, a German company that resells software licenses, and it could have broad implications for the digital industry.

The licenses, which accompany the purchase of the program, are generally valid for an unlimited period of time. They allow the use of the program and may include such features as periodic updates and program fixes.

Oracle seeks to have reselling of such licenses declared illegal. It took UsedSoft to court in Germany, seeking an order forcing the company to stop reselling licenses for Oracle software. Germany's Federal Court of Justice, which has yet to issue a ruling in the case, sought an interpretation of EU law from the Luxembourg-based Court of Justice, the EU's highest court.

The Court of Justice ruled that the copyright protection for downloaded programs was the same as for programs sold on CDs. Just as a someone who has bought a program on a CD can sell it, so too can someone who has bought a program by downloading it sell the right to use it to someone else ? as long as he or she does not retain the right to use it at the same time, the court said.

The court ruled that downloading a program is, in effect, is similar to buying a book. It is illegal to make photocopies of a book and sell them. But, having bought a book, a reader owns that copy of the book and is allowed to sell it to someone else.

The Court of Justice's ruling applies only to companies doing business in the 27 European Union countries, and governs their conduct only in those countries.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2012-07-03-EU-Software%20Resale/id-f7f72faeb89c453e9bc3efa2f0529609

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Barclays boss Diamond bows to pressure and quits

FILE - In this Wednesday, Jan. 27, 2010 file photo Bob Diamond, Chief Executive of Barclays, listens during a plenary session on the first day of the 40th Annual Meeting of the World Economic Forum, WEF, in Davos, Switzerland. Barclays Chief Executive Bob Diamond has resigned with immediate effect, the latest scalp of a financial markets scandal that has also cost the job of the chairman. The bank said Tuesday July 3, 2012, that outgoing-chairman Marcus Agius would lead the search for Diamond's replacement. (AP Photo/Keystone/Laurent Gillieron, file)

FILE - In this Wednesday, Jan. 27, 2010 file photo Bob Diamond, Chief Executive of Barclays, listens during a plenary session on the first day of the 40th Annual Meeting of the World Economic Forum, WEF, in Davos, Switzerland. Barclays Chief Executive Bob Diamond has resigned with immediate effect, the latest scalp of a financial markets scandal that has also cost the job of the chairman. The bank said Tuesday July 3, 2012, that outgoing-chairman Marcus Agius would lead the search for Diamond's replacement. (AP Photo/Keystone/Laurent Gillieron, file)

FILE - In this Saturday, Jan. 29, 2011 file photo Bob Diamond, Chief Executive of Barclays, listens during a session at the World Economic Forum in Davos, Switzerland. Barclays Chief Executive Bob Diamond has resigned with immediate effect, the latest scalp of a financial markets scandal that has also cost the job of the chairman. The bank said Tuesday July 3, 2012, that outgoing-chairman Marcus Agius would lead the search for Diamond's replacement. (AP Photo/Virginia Mayo, file)

LONDON (AP) ? Barclays Chief Executive Bob Diamond has resigned with immediate effect, the latest scalp of a financial markets scandal that has also cost the job of the chairman and sown the seeds for another investigation into Britain's banking sector.

The bank said Tuesday that Chairman Marcus Agius would lead the search for Diamond's replacement. Agius still intends to stand down once a new chairman has been chosen, a spokesperson at Barclays said.

Barclays' management has come under fire since the bank was fined $453 million last week by U.S. and British regulators for submitting false reports on interbank borrowing rates between 2005 and 2009. Much of that activity originated from traders in Barclays Capital, the investment banking division which Diamond headed at the time.

Britain's Serious Fraud Office said Monday that it would decide within a month whether to pursue criminal charges in the case. The government, which has come under pressure to initiate a judge-led inquiry into the sector, has announced a parliamentary committee to investigate what went on and report by the end of the year.

"The external pressure placed on Barclays has reached a level that risks damaging the franchise ? I cannot let that happen," Diamond said. "I am deeply disappointed that the impression created by the events announced last week about what Barclays and its people stand for could not be further from the truth."

Barclays shares were up 1.3 percent at 170.7 pence in the first half hour of trading in London, recovering from earlier lows.

As well as facing intense media pressure over the past few days, Diamond has seen growing calls for his resignation from the political world. Both Deputy Prime Minister Nick Clegg and opposition Labour Party leader Ed Miliband called for Diamond, a 60-year-old American, to stand down.

George Osborne, Britain's Treasury chief, said Diamond had decided to go Monday night. Osborne said he was told by Agius that "the board had come to view that that was the right decision and Mr. Diamond had come to that view."

"I think it is the right decision for Barclays, I think it is the right decision for the country," Osborne said.

The bank said Agius, 65, would become full-time chairman and would chair the executive committee until a new CEO is appointed.

"Clearly there's a lot more to come from this story right across the sector, but that's a significant scalp to be taken at this stage and now leaves a looming succession issue for the bank," said Mike McCudden, head of derivatives at Interactive Investor.

Some analysts had thought Diamond's position was secure because there was no obvious successor in the wings.

Diamond said he still intended to face the House of Commons Treasury Committee on Wednesday to give the bank's explanation for the false interest rate reports.

Barclays is one of a number of banks which regularly submit estimates of what it will cost them to borrow from other banks. These estimates feed into a calculation of the London interbank offered rate (LIBOR) which is used to determine payments from a range of financial contracts.

The London rate, and the related European interbank offered rate, are the benchmarks for over $500 trillion in global contracts, including loans and mortgages.

Barclays admitted that it had submitted lower than actual figures on its interbank borrowing during the credit crisis in 2007 and 2008. Several other global banks are being investigated in other countries for similar actions.

Last week, Diamond announced that he and three other senior executives were waiving any bonuses for 2012 because of the rate scandal.

The financial terms of his departure were not immediately disclosed.

His departure came as a surprise.

On Monday, Diamond sounded like a man determined to keep his job. In a memo to staff, he said he was disappointed by the misbehavior which led to the massive fines, but said: "It is my responsibility to make sure that it cannot happen again."

Diamond built up Barclays Capital into a profit-spinning powerhouse, and scored an important coup during the financial crisis by buying the remains of Lehman Brothers U.S. operations in a $1.35 billion deal.

Barclays survived the credit crisis without resorting to the kind of taxpayer bailout which saved Lloyds Banking Group and Royal Bank of Scotland, relying instead on an injection of capital from Qatar Holding, the government-backed investment fund.

In January last year, Diamond memorably told a House of Commons committee: "There was a period of remorse and apology for banks. I think that period is over."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-07-03-Britain-Barclays/id-9b7ed604516140f29681ce186eb0989e

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Wall Street opens flat after rally

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Source: http://news.yahoo.com/wall-street-opens-flat-rally-134143928--finance.html

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Real Estate: AVAILABLE FOR SALE

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Source: http://newsrealestateworld.blogspot.com/2012/07/available-for-sale_3521.html

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Instant View: UK manufacturing PMI rebounds more than forecast

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Source: http://news.yahoo.com/instant-view-uk-manufacturing-pmi-rebounds-more-forecast-084458644--sector.html

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Migrants to dominate Australia, Indonesia talks

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Source: http://news.yahoo.com/migrants-dominate-australia-indonesia-talks-014317923.html

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Oyster: The Best Road Trips From Boston (PHOTOS)

The Best Road Trips is a weekly summer series highlighting our favorite getaways from major cities all over the United States.

Some ignorati associate Boston with nothing more than crooked old cobblestone streets, the American Revolution and clam chowder. Yes, the city has got all that. But those who work and play there know that it's also filled with sprawling convention centers, progressive universities and biotech research facilities. A forward-looking town with an eye on the past, Boston combines the charm of a New England harbor town with the mindset of a bustling, modern metropolis.

Its non-stop vibe can seriously wear a resident out.

So, if you're a Bostonian looking for a weekend escape -- or simply a visitor to the Bay State -- why not hop in the car and head to a not-too-far destination where you can find some R&R? Get your bags packed and set your GPS: We've got some miles to cover.

-- Jane Reynolds, Oyster.com

• Boston to Kennebunkport, ME

  <strong>Total Driving Time:</strong> 1 hour, 42 minutes <strong>Distance Covered:</strong> 85.4 miles <strong>Take This Trip If:</strong> You want to bask in the sun like a quality Kennedy or Bush family member would. <strong>Top Driving Tip:</strong> Don't forget about all the neighboring areas: Kennebunkport is a great launching point for visiting nearby towns like Ogunquit -- known for its long sandy beaches and as being Maine's biggest LGBT destination -- or York, to see the famous Neddick Lighthouse. Originally settled in 1610, <strong><a title="Kennebunkport" href="http://www.oyster.com/maine/hotels/">Kennebunkport</a></strong> was a small fishing village that experienced an economic boom during the shipbuilding era. But it wasn't until after the Civil War that Kennebunkport became what it is today: a summer retreat for wealthy families. In fact, former President George W. Bush's great-grandfather's compound, Walker's Point, is located in Kennebunkport, and both he and his father (also former President Bush) have hosted foreign dignitaries at the summer home. What, you may ask, attracts the elite crowds to this Northeastern haven during the summer months? The private-feeling beaches are the area's main draw and activities such as kayaking, whale-watching, golfing, and fishing are also popular pastimes.

• Kennebunkport Splurge Spot: The Tides Beach Club

  If you?re looking for a cozy hotel that's also spot-on chic, <strong><a title="Tides Beach Club" href="http://www.oyster.com/maine/hotels/the-tides-beach-club/">The Tides Beach Club</a></strong> is the perfect choice. Fully renovated in 2011, the hotel's vibe is South Beach-esque and trendy while maintaining a quaint New England feel. Two suites designed by Jonathan Adler, spectacular ocean views, and a contemporary restaurant with a sophisticated menu are just some of the upgrades that came with the renovation.

• Kennebunkport Steal Spot: Colony Hotel

  For a more budget-conscious option, stay at <strong><a title="The Colony Hotel" href="http://www.oyster.com/maine/hotels/the-colony-hotel/">The Colony Hotel</a></strong>. This historic hotel has a welcoming attitude to both kids and dogs, attracting families with its heated saltwater swimming pool and private sandy beach.

• Boston to Eastern Vermont

  <strong>Total Driving Time:</strong> 2 hours, 22 minutes <strong>Distance Covered:</strong> 129 miles <strong>Take This Trip If:</strong> You're seeking peaceful, scenic surroundings to explore. <strong>Top Driving Tip:</strong> Many roads in Eastern Vermont do not have street lights, so it is best to start your journey early enough in the day that you'll arrive before sunset. If there?s one word that describes <strong><a title="Eastern Vermont" href="http://www.oyster.com/vermont/hotels/">Eastern Vermont</a></strong>, it's gotta be "scenic." Winding roads along rolling hills allow for wonderful vistas of tumbling streams, sweet lil' villages and superb trails amid thick woods and state forests. The Green Mountains, one of the main attractions in the region, has killer views, and during the winter, it has some best skiing on the East Coast. But the summer can actually be the perfect time to go: no crowds, comfortable temperatures, and tons of outdoor pursuits to participate in -- from hiking to sailing to rock-climbing.

• Eastern VT Splurge Spot: The Woodstock Inn

• Eastern VT Steal Spot: The Norwich Inn

• Boston to Martha's Vineyard, MA

  <strong>Total Travel Time:</strong> 2 hours, 17 minutes (including a short ferry ride) <strong>Distance Covered:</strong> 90 miles <strong>Take This Trip If:</strong> You're ready for a slower pace in a quiet-but-still-totally-hip spot. <strong>Top Driving Tip:</strong> Make sure to book a spot on the <a href="http://www.steamshipauthority.com/ssa/index.cfm">Steamship Authority </a>ASAP: It's the only ferry to MV that allows vehicles and the best times fill up <em>fast</em>.

• Martha's Vineyard Splurge Spot: Vineyard Square Hotel & Suites

  If you're looking for luxury accommodations, the <strong><a title="Vineyard Square Hotel" href="http://www.oyster.com/marthas-vineyard/hotels/vineyard-square-hotel-and-suites/">Vineyard Square Hotel</a></strong>'s extensive renovations over the years have brought about fresh, airy rooms, modern technology (free Wi-Fi, flat-screen TVs and iPod docks), and updated amenities (a salon, fitness center and popular on-site restaurant). The hotel, located on Main Street, offers luxury suites with spacious kitchenettes and private decks.

• Martha's Vineyard, MA: Lambert's Cove Inn

  If a more remote location is more your cup of tea, <strong><a title="Lambert's Cove Inn" href="http://www.oyster.com/marthas-vineyard/hotels/lambert-s-cove-inn-and-restaurant/">Lambert?s Cove Inn</a></strong> is a cozy spot. It's quiet and classy (no children under eight are allowed here), with a home-like feel and beautifully manicured grounds. The free daily made-to-order breakfast during the high season is superior to the buffet-style breakfasts offered by many inns, and the hotel boasts one of the most famed restaurants on the entire island.

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Source: http://www.huffingtonpost.com/oyster/the-best-road-trips-from-boston_b_1638534.html

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