Viacom sues YouTube for violating copyright
New York: Media conglomerate Viacom that owns Paramount Pictures, Dream Works and several cable channels including MTV and comedy central, has sued Google's video sharing Web site YouTube for more than $1 billion, accusing the online portal of 'massive international copyright violation.'

This is first time that a lawsuit has been filed against copyright violations and challenges the strategy of the Web search engine to dominate the video market to earn hefty advertisement revenue.
The outcome of the suit could have profound effect on the future functioning of the information sharing Web sites.

The suit alleges that about 1,60,000 clips of Viacom Entertainment programme have been uploaded on the site and viewed more than 1.5 billion times. Viacom is seeking an injunction against YouTube to end copyright infringement as also damages worth more than $1 billion.

In the complaint, Viacom charged YouTube with 'brazen disregard' of the intellectual property laws.
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GM back in profit throgh cost cutting measures
Detroit: General Motors Corp. has come back to profitability in the fourth quarter this year mainly due to extensive cost cutting. (See: GM back in the black with $950-million Q4 net income)
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China approves Intel chip plant
Intel, the world's biggest maker of chips for personal computers, has received approval from the Chinese government to build a $2.5 billion manufacturing plant in China, its first in Asia.

The factory, to be located in the northeastern city of Dalian, will have capacity to produce 52,000 chips a month using 90-nanometer technology, China's National Development and Reform Commission said Tuesday in a statement on its Web site. The investment would help the company gain entry into a semiconductor market where sales are expected to triple to $124 billion in 2010 from $41 billion in 2005, according to researcher IC Insights.

Intel would join companies such as Taiwan Semiconductor Manufacturing and Hynix Semiconductor in building factories in the world's biggest chip market.

Analysts say China is the most attractive place in the world for chip makers to invest because of its market potential and because the suppliers chip makers need are already there.

Intel however has not confirmed its plan.
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