Google tops Geico in trademark case

Google Inc. won a major legal victory Wednesday when a federal judge ruled that the search engine’s advertising policy does not violate federal trademark laws.

U.S. District Judge Leonie Brinkema rejected a claim by auto insurance giant Geico Corp., which argued that Google should not be allowed to sell ads to rival insurance companies that appear whenever Geico’s name is typed into the Google search box.

Google derives a major portion of its revenues from selling ad space to businesses that bid on search terms — both generic words and names protected by trademark — used by people looking for information online about products and services.

Finance

Time Warner settles AOL fraud charges

Time Warner Inc. moved Wednesday to resolve two federal investigations into its America Online unit, agreeing to pay $210 million to settle criminal securities fraud charges and disclosing it would pay $300 million to end an accounting probe.

The settlements will free the media giant to move forward on proposed acquisitions in 2005 — possibly including Adelphia Communications Corp. — and raise money for other deals by issuing new shares of stock. That had been prevented by the Securities and Exchange Commission while the investigations continued.

The $210 million agreement with the Justice Department, filed in federal court in Alexandria, Va., settles charges of aiding and abetting securities fraud stemming from a partnership deal with now-defunct Purchasepro.com.

Government

Regulators ease rules for telephone networks

Government regulators approved rules Wednesday that would phase out discounts the four major regional telephone companies offer rivals for access to their networks, a move likely to lead to higher phone bills for some 18 million residential phone customers served by AT&T Corp., MCI Inc. and other carriers.

The Federal Communications Commission voted 3-2 to give competitors of the regional companies 12 months to build their own networks or negotiate new leasing agreements with the regionals: Verizon Communications Inc., SBC Communications Inc., Qwest Communications International Inc. and BellSouth Corp.