In brief: Federal court agrees Apple violated antitrust law in e-book entry

NEW YORK – Apple violated antitrust laws by colluding with publishers to raise electronic book prices when it entered a market in 2010 that had been dominated by Amazon.com, a divided federal appeals court panel said Tuesday.

A three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan ruled 2-to-1 that a lower-court judge correctly found Apple Inc. violated the law to upset Amazon.com Inc.’s control of the market.

The appeals court also agreed that U.S. District Judge Denise Cote was right in 2013 to order injunctive relief to ensure the Cupertino, California-based company didn’t commit additional violations of antitrust laws.

In a statement, Apple said the ruling did nothing to change the fact that it did not conspire to fix e-book pricing.

“We are disappointed the court does not recognize the innovation and choice the iBooks Store brought for consumers,” it said. “While we want to put this behind us, the case is about principles and values. We know we did nothing wrong back in 2010 and are assessing next steps.”

Cote had ordered the technology giant to modify contracts with publishers to prevent price fixing and appointed a monitor to review the company’s antitrust policies. The appeals court last month upheld the appointment of the monitor.

Consumer confidence climbs

WASHINGTON – Consumer confidence showed a solid gain in June following a modest increase in May, supporting the view that strong job gains are giving a boost to the overall economy.

The Conference Board said Tuesday that its consumer confidence index rose to 101.4 in June, up from a May reading of 94.6. The June level matches the level in March. The index took a tumble in April.

The index is now 17.4 percent higher than it was a year ago, evidence that the economy is poised to enjoy stronger growth in coming months.

The June gain, which was stronger than economists had expected, was supported by increases in consumer views about current conditions and the labor market. Those expressing the view that jobs were plentiful rose to 21.4 percent, up from 20.6 percent in the previous month.

Donna Karan leaves designer post

NEW YORK – Donna Karan will step down from daily duties as chief designer at her namesake company, Donna Karan International, to devote more time to her philanthropic foundation.

She’ll remain a close adviser, according to a company statement released Tuesday.

Karan, 66, co-founded the company in 1984. It went public in 1996. And in 2001, LVMH Moet Hennessey Louis Vuitton invested and helped grow it globally. It now sells apparel, sportswear, accessories and shoes under the Donna Karan New York and DKNY brands.

The company said it will not immediately seek to replace Karan as designer, suspending runway shows and collections for a “period of time.”

Home prices increase steadily

WASHINGTON – U.S. home prices increased at a solid clip in April, led by double-digit jumps in Denver and San Francisco.

The Standard & Poor’s/Case-Shiller 20-city home price index rose 4.9 percent in April from 12 months earlier, roughly the same annual pace as March, S&P Dow Jones Indices said Tuesday.

“These gains are probably sustainable,” said David Berson, chief economist at Nationwide Insurance. “They’re not so rapid as to cause worry that people won’t be able to afford to buy the average home.”

Prices in the Denver metro areas climbed 10.3 percent, while home values in San Francisco rose 10 percent. Values increased more than 7.5 percent in Dallas, Miami, Seattle and Tampa. But price growth was tepid in the Boston, Cleveland and Washington, D.C., areas, where prices were up by 1.8 percent or less.