06-03-2016 MICROSOFT DEAL STOKES XIAOMI’S AMBITIONS
Technology giant Microsoft Corp. (NASDAQ: MSFT), in a landmark deal that revolves around its flagship operating system Windows 10, is selling about 1,500 of its patents to Chinese device maker Xiaomi. The deal, announced on Wednesday, June 1st, 2016, also includes a patent cross-licensing arrangement as per which Xiaomi will install Microsoft software, including Office and Skype, on its phones and tablets. The Windows 10 platform, which Microsoft launched globally on July 29th, 2015, currently runs on 300 million plus active devices including smartphones, PCs, tablets, and gaming consoles.
Consumer spending in the U.S., which makes up for over two-thirds of U.S. economic activity, leaped 1% in April 2016, according to data from the U.S. Department of Commerce and as reported by Reuters on May 31st, 2016. The increase, which marks the biggest gain since almost seven years, or August 2009, was driven by purchases of new cars and higher gas prices, and beat expectations of a 0.7% rise. Adjusted for inflation, spending was up by 0.6% in April 2016.