Intel, the world's leading microchip maker, which is already facing the largest European Union fine for anti-competitive practices, was yesterday hit with further legal action in its main market, the US.

Intel is paying Silicon Valley rival Advanced Micro Devices (AMD) $1.25 billion (£749 million) to squash a legal battle over Intel's sales tactics, a rift that led to antitrust charges against Intel in several countries and was headed toward a costly and nasty trial next year.

Today's big news from the Intel Developer Forum was new mobile CPUs designed for power users, gamers and multimedia enthusiasts.

Ericsson, the telecoms equipment maker, saw profits plunge more than 60 per cent in the three months to June as the downturn continues to batter the industry around the world.

Intel Corp.'s chief executive said that chip orders have been "a little better than we expected" so far in the second quarter, a sign that semiconductor sales are slowly improving.

When everything clicks

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A GROUP of microchip designers from Acorn Computer has secured $13m of start-up funding to finance a new silicon chip venture with a view to floating on Nasdaq within four years.

Nanolaser technology is set to revolutionise computer chip-making.

FAIREY, the electronics group, disappointed yesterday by reporting its first fall in profits in its 10-year history and warning that recovery is not likely until the end of the year.

INTEL, the world's largest chip maker, has agreed to buy a rival US chip company, Level One Communications, for $2.2bn (pounds 1.4bn) in stock.

INTERNET STOCKS may be the flavour of the moment. But in recent months canny investors have been ignoring the hype and paying more attention to ARM, the British computer chip designer that is taking the semiconductor world by storm.