A round up of today's other stories in brief...
Ebay told to pay 40m over counterfeits
Ebay was yesterday ordered to pay nearly €40 million to the French luxury goods group, LVMH, in a court ruling that the internet auction site admitted could have wider implications for online commerce.
The Paris court ruling said Ebay had failed to prevent counterfeit products being sold over its website, and had breached selective distribution agreements for luxury perfumes.
Ebay immediately announced it would appeal against the ruling, which it said would buttress restrictions on the way goods could be sold and, hence, on consumer choice.
The Paris-based Tribunal de Commerce ordered Ebay to pay €19.28 million to Louis Vuitton Malletier, and €16.4 million to Christian Dior Couture on the grounds that the online retailer's negligence allowed counterfeit goods to be sold through its site. It also fined the US company €3.19 million for breaching selective distribution network agreements when it sold perfumes under the Christian Dior, Guerlain, Givenchy and Kenzo marques on its site.
Ebay is also required to publish the decision on its sites in French and English. - (Financial Times service)
Strong forecast for Digital Hub firms
Companies at Dublin's Digital Hub expect to grow strongly during 2008, despite the general economic slowdown.
A survey of digital media companies based at the Government enterprise and regeneration project located in Dublin's South inner city, shows they expect to increase employment this year by 35 per cent.
Philip Flynn, chief executive of the Digital Hub Development Agency, said the survey findings were good news not only for Digital Hub companies but for the digital media industry overall.
"The survey findings prove that digital media companies hold huge promise for the future of the Irish economy."
'Excellent' oil shows for Tullow
Explorers Tullow Oil and Heritage Oil said yesterday their Kingfisher-2 Ugandan appraisal well had "excellent oil shows from three potential sandstone reservoirs.
Preliminary interpretation of the 2,922m (9,590ft) shaft indicates the reservoirs may be comparable to three zones in the Kingfisher-1 well, which tested at a combined flow rate of 9,773 barrels a day, the companies said in a joint statement - (Bloomberg)
Shares in Trinity Mirror drop
Shares in newspaper publisher Trinity Mirror, fell the most since 1999 in London trading after it said 2008 operating profit will be about 10 per cent lower than forecast as advertisers reduce spending.
Advertising sales dropped in May and June from a year earlier and will decline for the rest of the year amid an economic slowdown. The publisher is also cancelling the £67 million remaining of a £175 million share buyback.
Trinity Mirror, which owns around 200 national and regional newspaper titles, dropped 28 per cent to 109p, the most since the company was formed in September 1999. - (Bloomberg)
Credit Suisse to cut 170 jobs
Credit Suisse, Switzerland's second-largest bank, said it is cutting 170 jobs in response to market conditions and projected staffing levels.
The reductions will be in investment banking and support functions, Credit Suisse spokesman Bruce Corwin said in an e-mailed statement today. Credit Suisse has eliminated 1,490 positions since last October, Mr Corwin confirmed. - (Bloomberg)
