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New York’s attorney general warned Internet retailers Wednesday that they should stop funneling unsuspecting customers into “deceptive” Web discount clubs that have been accused of slamming people with hidden fees. Attorney General Andrew Cuomo said his office has sent investigative subpoenas to 22 prominent merchants.
In this business climate, the road to striking a venture capital deal is difficult for both funder and fundee. Small startups with big ideas obviously have a harder time finding VC firms willing to take a chance on them, but those VC firms themselves are under added pressure to make the correct decisions regarding where to put their limited resources.
Jammie Thomas-Rasset, the Minnesota woman who was twice found liable for copyright infringement for sharing two dozen songs using an online file-sharing application, has turned down an offer to settle her $54,000 penalty for less than half that amount. The Recording Industry Association of America gave Thomas-Rasset the option of settling the case for $25,000, with the money promised to be donated to a musicians’ charity.
Nintendo, maker of the hit Wii game console, said profit for April through December fell 9 percent after price cuts and the rising yen tarnished strong holiday sales. Nintendo reported Thursday a $2.1 billion profit for the nine months through Dec. 31, down from $2.4 billion a year earlier. Sales retreated 23 percent to $13.1 billion.
Oracle says it will focus strongly on customer service and support for customers of both its products and those of Sun Microsystems, whose acquisition it completed on Wednesday. “We believe our customers deserve the best level of support and it’s our job to make that extremely compelling,” said Juergen Rottler, executive vice president of Oracle global customer services.