Word: settlement
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...than 300,000 Native Americans under an 1887 law. (The government oversees leases of land for mining, oil and gas drilling, livestock grazing and other uses.) The Federal Government also agreed to create a $60 million higher-education scholarship fund for Native American students. President Obama called the proposed settlement in Cobell v. Salazar--one of the largest and most complex class actions ever brought against the government--an "important step toward a sincere reconciliation" between the U.S. and Native Americans. The pact must be approved by a federal court and authorized by Congress...
...Microsoft's move came as part of a legal settlement with the European Commission after a decade of skirmishes with the E.U.'s antitrust authority. Neelie Kroes, the E.U. competition commissioner, says Microsoft's previous approach denied consumers a fair choice. "It is as if you went to the supermarket and they only offered you one brand of shampoo on the shelf, and all the other choices are hidden out the back," Kroes said. "What we are saying today is that all the brands should be on the shelf." The settlement won't have a direct effect...
...Microsoft has always insisted that people had a choice of browsers. The company says that with the settlement, European Windows users will now simply be more aware of their options. "They're all used today, so that doesn't really change," says Brad Smith, Microsoft's senior vice president and general counsel in Redmond, Wash. (Read "Google's Chrome: Taking Aim at Microsoft - and the iPhone...
...rivals are hailing the deal as a turning point for the industry. "I think this settlement has the potential to change the status quo," says Sundar Pichai, head of Google's Chrome browser team. "Most consumers in the past have chosen Internet Explorer because it came on their computers. Now the decision will be made on the merits...
...settlement may also establish antitrust regulation as a key driver of innovation and competition in the IT sector. When Microsoft first began trading blows with the European Commission, it took a confrontational approach, as if it never believed it would be tamed by Brussels bureaucrats. But the tussles have cost Microsoft dearly: the E.U. watchdog has fined the company $2.4 billion for illegal business practices over the years. At the same time, the rise of companies like Apple and Google - which both enjoy quasi-monopolies in other technology sectors - creates a new challenge for Microsoft. Indeed, as Microsoft, Apple...