Court throws out Apple's $300 million patent loss and sends it back for a new trial.
The dispute between Apple and Optis Wireless Technology is headed for its third trial after an appeals court threw out a 2021 jury verdict due to faulty jury instructions, Reuters reports. The case is based on Optis' accusation that Apple infringed on its patents for LTE standard-essential technology. The damages award has already been retried once after a judge said the jury that awarded $506 million to Optis hadn't considered the reasonableness of the amount.
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CNET
20 minutes ago
- CNET
Fed Rate Cuts Unlikely This Summer. Are Lower Mortgage Rates Still Possible?
The Fed's interest rate decisions impact mortgages, but the relationship isn't straightforward. Tharon Green/CNET There's a wild amount of uncertainty in today's economy, but one thing is clear: The Federal Reserve isn't planning to lower interest rates this summer. Mortgage rates, which have been stuck near 7% for the past several months, are likely to stay higher for longer. On June 18, Fed officials voted to leave borrowing rates unchanged for a fourth consecutive meeting. Holding interest rates where they are allows the central bank to evaluate how President Trump's unpredictable tariff campaign, immigration policies and federal cutbacks affect both inflation and the job market. Often, what the central bank simply says about future plans can cause a stir in the housing market. Mortgage rates are driven by bond investors and a host of other factors, i.e., not directly determined by the Fed. "The mortgage market reacts fast to uncertainty, and we've got no shortage of it this summer," said Nicole Rueth, of the Rueth Team with Movement Mortgage. Why is the Fed not cutting interest rates? The Fed sets and oversees US monetary policy under a dual mandate to maintain price stability and maximum employment. It does this largely by adjusting the federal funds rate, the rate at which banks borrow and lend their money. When economic growth is weak and unemployment is high, the Fed lowers interest rates to encourage spending and propel growth. Reducing interest rates could also allow inflation to surge, which is generally bad for mortgage rates. Keeping rates high, however, increases the risk of a job-loss recession that would cause widespread financial hardship. If unemployment spikes -- a real possibility given rising jobless claims -- the Fed could be forced to implement interest rate cuts earlier than anticipated. "The Federal Reserve is in one of the trickiest spots in recent economic history," said Ali Wolf, Zonda and NewHomeSource chief economist. What is the forecast for interest rate cuts in 2025? On Wednesday, markets eyed the Fed's Summary of Economic Projections, which outlined two 0.25% rate cuts in 2025, unchanged from earlier estimates. But that's far from guaranteed. The updated forecast suggests that tariffs will push prices higher, suggesting that consumers have not yet felt the full effect of these import duties. "Everyone that I know is forecasting a meaningful increase in inflation in the coming months from tariffs, because someone has to pay for the tariffs," Fed Chair Jerome Powell said during a June 18 press conference. Inflation could prompt the central bank to forgo one (or both) of its projected rate cuts, which would keep mortgage rates high. Though Powell remains noncommittal on any specific time frame, financial markets still see a potential interest rate cut coming as early as this fall. Most housing market forecasts, which already factor in at least two 0.25% Fed cuts, call for 30-year mortgage rates to stay above 6.5% throughout 2025. "Average rates are likely to stay in the 6.75% to 7.25% range unless the Fed signals multiple cuts and backs up their policy with data," Rueth said. What factors affect mortgage rates? Mortgage rates move around for many of the same reasons home prices do: supply, demand, inflation and even the employment rate. Personal factors, such as a homebuyer's credit score, down payment and home loan amount, also determine one's individual mortgage rate. Different loan types and terms also have varying interest rates. Policy changes: When the Fed adjusts the federal funds rate, it affects many aspects of the economy, including mortgage rates. The federal funds rate affects how much it costs banks to borrow money, which in turn affects what banks charge consumers to make a profit. Inflation: Generally, when inflation is high, mortgage rates tend to be high. Because inflation chips away at purchasing power, lenders set higher interest rates on loans to make up for that loss and ensure a profit. Supply and demand: When demand for mortgages is high, lenders tend to raise interest rates. This is because they have only so much capital to lend in the form of home loans. Conversely, when demand for mortgages is low, lenders tend to slash interest rates to attract borrowers. Bond market activity: Mortgage lenders peg fixed interest rates, like fixed-rate mortgages, to bond rates. Mortgage bonds, also called mortgage-backed securities, are bundles of mortgages sold to investors and are closely tied to the 10-year Treasury. When bond interest rates are high, the bond has less value on the market where investors buy and sell securities, causing mortgage interest rates to go up. Other key indicators: Employment patterns and other aspects of the economy that affect investor confidence and consumer spending and borrowing also influence mortgage rates. For instance, a strong jobs report and a robust economy could indicate greater demand for housing, which can put upward pressure on mortgage rates. When the economy slows and unemployment is high, mortgage rates tend to be lower. Read more: Fact Check: Trump Doesn't Have the Power to Force Lower Interest Rates Is now a good time to get a mortgage? Even though timing is everything in the mortgage market, you can't control what the Fed does. "Forecasting interest rates is nearly impossible in today's market," said Wolf. Regardless of the economy, the most important thing when shopping for a mortgage is to make sure you can comfortably afford your monthly payments. More homebuying advice
CNET
20 minutes ago
- CNET
Why I Use Apple AirTags to Track Everything From My Luggage to My Car
Not long ago, as I waited at baggage claim after a trip to Paris, I became increasingly nervous as bag after bag dropped onto the carousel -- none of them mine. I knew there was no need to panic though. Back at Charles de Gaulle airport, I had dropped a sophisticated little tracking device into my trusty rolling suitcase before handing it over and heading to my gate. So, I pulled out my iPhone and, with just a few taps, I could see that my bag had never left the City of Light. (Merde!) Over the years, I've come to depend on Apple's AirTags to keep track of many types of easy-to-lose valuables. They're not only good for luggage. I also use them to track wallets, bikes, keys and even my car. I tell everyone who will listen that you can never have too many of these handy devices. That's why I think it's worth taking advantage of the current deal at Amazon that slashes the price of a four-pack of AirTags down to $75. Here's how the Apple AirTag that was in my suitcase on that fateful trip works. It uses an ingenious method of tracking itself, detecting its location from nearby iPhones and using them to anonymously piggyback the coordinates to a secure server where I could look it up on my iPhone. Until just a few years ago, this would have seemed like a scene straight out of a spy movie. Hey, did you know? CNET Deals texts are free, easy and save you money. Instead of wondering if my belongings were stuck on an abandoned luggage cart or strewn across the tarmac, I could see in almost real time that my suitcase was still chilling at Charles de Gaulle airport in Paris. I was able to calmly tell the airline my bag didn't make the flight, and it made arrangements to have it delivered to me a few days later. Apple AirTags are all about peace of mind By itself, an AirTag isn't much. A 1.26-inch smooth round puck that looks like a glossy white breath mint, it sinks to the bottom of a bag or dangles from a key chain (with a compatible key ring, sold separately). It's meant to disappear. CNET Activating the AirTag was a simple process of pairing with my iPhone. And then, because it obviously doesn't really do anything out of the box, I forgot about it. But the next time I couldn't find my keys? Sorcery. My iPhone didn't just tell me they were somewhere nearby -- it walked me directly to them, thanks to the AirTag's built-in Ultra Wideband chip. Suddenly, all that time I'd spent retracing my steps and overturning couch cushions in the past felt like ancient history. Now I have AirTags in or attached to every significant item I'd want to keep track of: My everyday laptop bag, my camera backpack, the suitcase I use most when traveling, my key chain, my car and a smaller sling bag I take on walks. I can pull up the Find My app on any of my Apple devices (or sign in to iCloud on any web browser) and see where my items are and the last time the AirTags registered their locations. Clip an AirTag onto a bag or bury it in the depths. Sarah Tew/CNET AirTags aren't just for my everyday items. People I know in the movie business tell me that AirTags are tossed into nearly every bag and Pelican crate, not solely to ensure that the valuable equipment inside doesn't walk away but to quickly differentiate equipment amid similar looking containers. Some of my friends also attach AirTags to their pets' collars (though experts say there are better ways to track pets). AirTags are also useful for things that you want to keep close by Being able to detect my luggage a continent away provided a sense of relief, to be sure. But at the local level, my AirTags will also trigger an alert when I get too far away from them. For example, if I accidentally forget my camera bag in the car when I stop somewhere for lunch, a Find My notification appears telling me I've left it behind. It works the same for newer AirPods models as well. Sharing is now a big part of AirTag tracking My family has two cars, and I wanted to be able to track them both. But it used to be inconvenient to pair the AirTag in the car my wife drives to her iPhone (and the one in my car to my iPhone). To guard against unwanted tracking, an AirTag will notify nearby iPhones of its existence, so whenever I drove my wife's car without her in it, I got a notification that an AirTag was traveling with me. (If the owner is near the AirTag, the alert does not appear.) However, ever since the release of iOS 17, AirTags are shareable, which solves this problem. I shared my AirTag with my wife, and she with me, so regardless of which car I'm driving, I can find it more easily in a crowded parking lot without getting constant, unnecessary alerts. Share an AirTag's location with someone you trust. Screenshots by CNET A more recent feature to AirTags that arrived with iOS 18.2 is the ability to temporarily share an AirTag's location with someone I trust. In my luggage example above, if the suitcase was in the airport with me, but the airport's staff hadn't yet been able to locate it (not uncommon during peak travel times), I could share its location with an attendant who could quickly retrieve it from areas inaccessible to the public. Apple Apple AirTag specs Diameter: 1.26 inches (31.9 mm) 1.26 inches (31.9 mm) Height: 0.31 inches (8 mm) 0.31 inches (8 mm) Weight: 0.39 ounces (11 g) 0.39 ounces (11 g) Splash, water and dust resistance: Rated IP67 (maximum depth of 1 meter up to 30 minutes) Rated IP67 (maximum depth of 1 meter up to 30 minutes) Connectivity: Bluetooth 5.0 Bluetooth 5.0 Battery: Replaceable CR2032 coin cell battery The only minor annoyance about AirTags An AirTag includes Bluetooth, the U1 Ultra Wideband chip and an NFC chip to share basic details when it's in Lost Mode. That's all powered by a CR2032 coin cell battery, which in my experience lasts roughly a year before I need to replace it. I get notified when a battery is starting to get low, although there's no gauge to see how much is left until it goes into the red. And it's easy to change batteries. But my small fleet of AirTags means I need to swap multiple ones each year. I buy them in packs of 20 that I slowly work through. The CR2032 battery in an AirTag can easily be replaced. Patrick Holland/CNET AirTags also make great gifts Apple AirTags consistently appear in our gift guides throughout the year because you can always find another use for one. They're often reduced in price when sold in packs of four. And there's an ever-growing ecosystem of ways to mount them, from sturdy vaults that adhere to a car to discrete fabric holders that will keep your favorite classic bomber jacket from flying away. Whenever I show someone how I use AirTags on a bag or keychain, I kind of wish I had a pocket full of AirTags to hand out because once someone sees how it works, they're sold. When will this deal expire? We don't know how long this deal will last. We see four-packs available at this discounted price pretty frequently throughout the year, but it could expire at any time without notice. I recommend placing your order while you can be sure to get this price because I'm confident you'll find new uses for them once you have a few.
Associated Press
23 minutes ago
- Associated Press
Yes, more and more celebrities are entering the phone business. Here's why
NEW YORK (AP) — More and more celebrities are looking to attach their names to your phone. Or rather, wireless services that could power it. From cosmetics to snacks and signature spirits, brands launched or co-owned by high-profile figures are just about everywhere you look today. But several big names are also venturing into the market for mobile virtual network operators — or MVNOs, an industry term for businesses that provide cell coverage by leasing infrastructure from bigger, more established carriers. U.S. President Donald Trump's family was the most recent to join the list with the launch of Trump Mobile this week. Here's what to know. Which big names have entered the phone business? On Monday, The Trump Organization (currently run by the president's sons Eric and Donald Jr.) unveiled Trump Mobile. The company says this new business will offer cell service, through an apparent licensing deal with 'all three major cellular carriers' in the U.S., and sell gold phones by August. Trump Mobile marks the latest in a string of new Trump-branded offerings — which already span from golden sneakers to 'God Bless the USA' bibles — despite mounting ethical concerns that the president is profiting off his position and could distort public policy for personal gain. 'This raises a real question about a conflict of interest,' said Ben Bentzin, an associate professor of instruction at The University of Texas at Austin's McCombs School of Business. As the sitting president, Trump appoints leadership for the Federal Communications Commission — and the family's new phone venture exists under this regulatory authority. All of this sets Trump Mobile apart from other big names that have recently ventured into the wireless business. Still, its launch arrives as a growing number of celebrities tap into this space. Just last week, actors Jason Bateman, Sean Hayes and Will Arnett launched SmartLess Mobile, a name that mirrors the trio's 'SmartLess' podcast. Now live across the contiguous U.S. and Puerto Rico, SmartLess Mobile runs on T-Mobile's 5G Network. Another wireless provider with ties to fame is Mint Mobile. While not launched by celebrities, Ryan Reynolds purchased an ownership stake in Mint in 2019. Mint's parent, the Ka'ena Corporation, was later acquired by T-Mobile in a deal worth up to $1.35 billion. Beyond names of famous people, well-known brands that weren't traditionally in the phone business have also got in on the action over the years — particuarly outside of the U.S., Forrester Research senior analyst Octavio Garcia Granados notes. He points to Walmart's 'Bait' mobile plan in Mexico, for example, as well as Italian soccer club AC Milan launching its own mobile SIM cards for fans. 'The MVNO market is not new,' said Garcia Granados. 'What's new is the development on how it's consumed and the (ease) for brands to launch such plans.' MVNOs have also emerged outside of high-profile brands or launch teams. Bentzin points to Straight Talk and Cricket — which are now owned by Verizon and AT&T, respectively. Still, traditional celebrity endorsements are common across the board. And in recent years, 'influencer marketing' has been 'the fastest growing area of advertising and promotion,' he notes. What are these cell services offering? Why were they launched? For Trump Mobile, the pitch seems to be all about having an 'all-American service' while also tapping into the fan base of the president. The company noted Monday that it chose to unveil Trump Mobile on the 10th anniversary of Trump launching 'his historic presidential campaign.' The name given to its flagship offer, The 47 Plan, and the $47.45 monthly fee make reference to the president's two terms. And a mock-up of the planned gold phone on the company's website shows Trump's 'Make America Great' slogan on the front screen. According to the company, Trump Mobile's 47 Plan will include unlimited calls, texts and data through partner carriers, as well as free roadside assistance and telehealth services. It also says the new phone, called the 'T1 Phone,' will be available for $499 in August — but notes that this device won't be designed or made by Trump Mobile. Still, the company emphasized that these phones will be built in the U.S. Experts have since shared skepticism about that being possible in two months. And beyond the future T1 Phone, others stress that a monthly cell service fee of just under $50 is pricey compared to other MVNO options today. 'It's not actual lower pricing. It's really trading on the fan base, if you will, of Trump,' said Bentzin. SmartLess Mobile and Mint Mobile, of course, don't carry these same political ties. And the wireless plans offered by both boast less expensive offerings. T-Mobile-owned Mint advertises 'flexible, buy-in-bulk' plans that range from $15 to $30 a month. Each option includes unlimited talk and text nationwide, but vary depending on plan length and data amount. Mint, founded in 2016, says it started 'because we'd had enough of the wireless industry's games' — and promises to help consumers avoid hidden fees. SmartLess Mobile's plans also start at $15 a month. Depending on the data amount purchased, that base fee can rise to $30 — but all of its plans similarly offer unlimited talk and text using T-Mobile's network. When launching last week, SmartLess underlined that its goal is to help people stop paying for the data they don't use, noting that the majority of data used by consumers today happens over Wi-Fi. 'Seriously, if your phone bill knew how often you're on Wi-Fi, it would be embarrassed,' Hayes said in a statement for SmartLess Mobile's June 10 launch. What's the demand? MVNOs have proven to be attractive acquisitions to big wireless carriers over the years. But whether or not the star factor promises significant demand has yet to be seen for the market's most recent entrants. For the more established Mint Mobile, Reynolds' investment is a success story. The 25% stake that the actor reportedly owned in 2023, when the company announced that it would be acquired by T-Mobile, was estimated to give him a personal windfall of over $300 million in cash and stock. And since that deal closed, Reynolds has remained in his creative role for Mint and as the face of many campaigns — helping the brand continue to attract new customers. It's no surprise that the potential of such business returns might attract other celebrities to make similar investments, Bentzin notes. Still, newer ventures are untested. And 'as the market becomes more crowded, it could be harder and harder to pick off individual consumers,' he added. Beyond a high-profile name, quality of service and what consumers can afford is also critical. 'The competition battleground here is brand and price,' Bentzin said. Still, if the marketing is right and product meets consumer needs, experts like Garcia Granados note that MVNOs can be a profitable business, for both the brands that start them and the telecommunications giants — like T-Mobile, Verizon and AT&T — offering this 'wholesale' access to their infrastructure. As a result, he said, such high-profile ventures become 'a catalyst for others to follow.' ______ AP Business Writer Bernard Condon contributed to this report from New York.
