Boeing unveils 717-based business jet
Seattel: Boeing, the world's largest aircraft maker, on Wednesday said it was offering a business jet version of its slow-selling 717 jetliner seating 40 to 80 people in a spacious layout. Chicago-based Boeing, which runs its jetliner unit from Seattle and builds the 106-seat 717 in Long Beach, California, said it was pitching the idea to potential corporate customers with heavy employee traffic on regular routes. The business jet version of the jetliner, which has a shrinking backlog of just 36 orders, would be offered for direct sale, lease or with fractional ownership spread among two or more partners, including airlines.
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Cisco posts higher profit but sales slip
Chicago: Cisco Systems, the No. 1 maker of equipment that directs Internet traffic, on Tuesday posted a higher quarterly profit, but sales slipped from the previous quarter amid the weak corporate spending environment.The San Jose, California-based company reported a net profit of $987 million, or 14 cents a share, for the fiscal third quarter ended April 26, compared with $729 million, or 10 cents a share, in the year-ago quarter. Excluding one-time items, it earned 15 cents a share.
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Microsoft, Best Buy accused of online scam
Seattle: A Los Angeles man has filed a proposed class action lawsuit against Best Buy and Microsoft, accusing them of scamming customers by charging them for online services without their knowledge.The suit, filed on Tuesday in Los Angeles Superior Court, claims the alleged scam stemmed from a promotion in which customers at Best Buy, who paid for purchases with credit or debit cards, were given free compact discs that allowed them to try Microsoft's online service, MSN.Microsoft, the world's largest software maker, and Best Buy, the largest consumer electronics chain, were partners in a pact dating back to 1999 to promote Microsoft's money-losing MSN Internet access service
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Ted Turner sells stake in AOL Time
New York: Ted Turner’s stake in AOL Time Warner continues to dwindle as he sells shares and removes himself from the media company that has sapped much of his fortune. The billionaire sold 50 million AOL Time Warner shares and donated 10 million more on Monday, netting $784.2 million and slicing his share of the media giant to 45 million shares, or about 1 per cent. Turner sold his shares for $13.07 each, according to a person familiar with the sale price. That was 31 cents below their closing price on Monday on the New York Stock Exchange.
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