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Best of the Blogs: Apple Shrinks Its Patent Lawsuit Against Samsung

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Plus, Goldman Sachs loses court appeal to overturn the arbitration award given to the creditors of the Bayou Group.

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This column highlights the most interesting and useful business and financial commentary from around the Web each day. Use our comments section to post your own suggestions for blog content that you've read or written.

VentureBeat
Link: Apple, Samsung shed charges to prepare for US trial

"In preparation for a July 30 patent-infringement showdown in a US courtroom, Apple (AAPL) and Samsung (SSNLF) are shedding legal charges against one another like a bride-to-be drops pounds ahead of a wedding. US District Court Lucy Koh is calling on both companies to narrow their cases from the huge amount of claims available.

"'She wants to impose strict limits on the parties' presentation time at trial and on the number of trial exhibits,' writes Florian Mueller at FOSS Patents. On Tuesday, Koh rejected Samsung's request to drop a temporary sales injunction against the Galaxy Nexus S III smartphone prior to the trial."

The New York Times: DealBook
Link: Bayou Award Against Goldman Is Upheld

"Goldman Sachs (GS) has been dealt another setback in its effort to overturn $20.5 million arbitration award stemming from the 2005 collapse of the hedge fund manager Bayou Group.

"On Tuesday, a panel of the United States Court of Appeals for the Second Circuit upheld the award to the creditors of Bayou, who had accused Goldman of helping the fund perpetrate a Ponzi scheme.

"Goldman cleared trades for Bayou, and the unsecured creditors' committee filed its arbitration claim against Goldman in 2008."

Zerohedge.com
Link: Scorching Summer Heat Pushes Nat Gas Back Up To $3.00, Chesapeake Over $20

"Several months ago, as John Arnold was terminally unwinding long gas positions into an illiquid market, sending natgas as low as $1.80, various pundits called for a bidless market in natgas. Today they are silent, because 3 months later, nat gas is 60% higher, and is on the verge of crossing the $3.00 psychological barrier, and going unchanged on the year, in the process pushing Chesapeake Energy (CHK) above $20."

The Wall Street Journal: Deal Journal
Link: Wells Fargo Boosts Bank Earnings Views (On Accounting Moves)

"With earnings reports from the nation's biggest banks due to start in about a week, estimates have been slashed by analysts concerned about trading results and lackluster investment banking revenues.

"But today, the banks received at least a tiny bit of good news: Wells Fargo (WFC) analysts increased earnings estimates on several of the biggest banks. This comes a month after the same analysts cut estimates across the board.

"But the good news ends about there."

Mashable
Link: NBC and Google Stage Digital War Games to Prep for Olympics

"NBC is expecting millions of online viewers to tune in for live streams from the London Olympics later this summer, and it's doing everything it can to ensure those streams will be operational, including war games that simulate cyberattacks and other digital dilemmas.

"For the past nine months, NBC and Google (GOOG) - which is overseeing the streams - have practiced defending against "hundreds" of various problems that the live streams may encounter, including attacks from hackers, according to a report from Wall Street Journal blog CIO Journal."

Twitter: @ChrisWitrak
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