1. Google wins court battle over Oracle's $9 billion copyright claim
Google on Thursday won a jury verdict against Oracle, which was seeking $9 billion for the use of its Java programming language in Google's development of its Android smartphone operating system. Oracle argued that Google used copyrighted material in 11,000 of the 13 million lines of Android software code, which is used in 80 percent of the world's mobile devices. Google said it only made fair use of Oracle's Java code, and therefore owed nothing. The jury agreed. Oracle plans to appeal.
2. G-7 summit concludes with vow to cooperate on avoiding new financial crisis
Group of Seven leaders wrapped up their annual summit on Friday, downplaying their differences on fiscal policy and vowing to "use all policy tools" to promote global economic growth. Japanese Prime Minister Shinzo Abe said the group of leaders of the world's industrialized nations "shares a strong sense of crisis" — one he said could parallel the global financial crisis that started in 2008 if "appropriate policy responses are not made." The G-7 leaders also expressed concern over North Korea and maritime disputes involving China.
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3. Snapchat raises $1.8 billion in latest fundraising
Snapchat raised $1.8 billion in a new round of fundraising, according to a filing with the Securities and Exchange Commission. The latest infusion of $200 million this week valued the image messaging app company at $20 billion. Facebook offered $4 billion for Snapchat in 2013. Some critics have questioned whether Snapchat's income justifies a lofty valuation. According to leaked data obtained by TechCrunch, Snapchat, with 110 million daily active users, generated $59 million in revenue during the 2015 fiscal year.
4. Takata airbag recalls expand in U.S. and Japan
Eight automakers on Friday announced the recall of another 12 million U.S. vehicles over potentially faulty Takata airbag inflators. Honda is recalling 4.5 million vehicles, and Fiat Chrysler 4.3 million, according to documents posted by U.S. regulators. Takata, a Japanese auto-parts manufacturer, agreed earlier this month to declare up to 40 million more inflators defective. Japan's Transport Ministry said it was recalling another seven million vehicles over concerns with the inflators, which can send metal fragments flying and have been blamed for 13 deaths worldwide.
5. Stocks start Friday wobbly ahead of Yellen remarks
Global stocks got off to a mixed start on Friday, with Europe opening lower as investors awaited a speech by Federal Reserve Chair Janet Yellen for signs of where U.S. interest rates are heading, and when. Yellen is scheduled to speak at Harvard University at 1:15 p.m. and her remarks are expected to shed some light on the likelihood that the Fed will raise rates at June meeting. Market-based expectations put the likelihood of a rate hike at 28 percent in June, and 51 percent by July.
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Australia’s teens brace for social media banIn The Spotlight Under-16s will be banned from having accounts on major platforms
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Labour’s dilemma on workers’ rightsThe Explainer TUC says Employment Rights Bill is ‘essential to better quality, more secure jobs’ but critics warn of impact on economic growth
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Coaches’ salary buyouts are generating questions for collegesUnder the Radar ‘The math doesn’t seem to math,’ one expert said
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Femicide: Italy’s newest crimeThe Explainer Landmark law to criminalise murder of a woman as an ‘act of hatred’ or ‘subjugation’ but critics say Italy is still deeply patriarchal
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Brazil’s Bolsonaro behind bars after appeals run outSpeed Read He will serve 27 years in prison
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Americans traveling abroad face renewed criticism in the Trump eraThe Explainer Some of Trump’s behavior has Americans being questioned
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Nigeria confused by Trump invasion threatSpeed Read Trump has claimed the country is persecuting Christians
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Sanae Takaichi: Japan’s Iron Lady set to be the country’s first woman prime ministerIn the Spotlight Takaichi is a member of Japan’s conservative, nationalist Liberal Democratic Party
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Russia is ‘helping China’ prepare for an invasion of TaiwanIn the Spotlight Russia is reportedly allowing China access to military training
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Interpol arrests hundreds in Africa-wide sextortion crackdownIN THE SPOTLIGHT A series of stings disrupts major cybercrime operations as law enforcement estimates millions in losses from schemes designed to prey on lonely users
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China is silently expanding its influence in American citiesUnder the Radar New York City and San Francisco, among others, have reportedly been targeted
