China jet market still expanding
Published 9:00 pm Tuesday, September 20, 2005
The Boeing Co. predicts that China will need more than 2,600 new airplanes worth $213 billion over the next 20 years as the country’s economy expands and air travel becomes widespread, company officials said Tuesday. China “is significantly the fastest-growing market in the world,” said Randy Baseler, Boeing’s vice president of marketing, who was in Beijing for a trade show that starts today.
New Nastech drug works on rabbits
Bothell’s Nastech Pharmaceutical Co. has published a new study on the effectiveness of its experimental appetite control drug. The study, published in the International Journal of Obesity, found that rabbits that received a daily dose of PYY over a two-week period had a lower average weight compared with the control group. Nastech has partnered with Merck &Co. to develop PYY, a naturally produced hormone, into a marketable drug.
Apple chief decries high music prices
Apple boss Steve Jobs vowed Tuesday to repel “greedy” record companies’ demands for higher music download prices, warning that any such move would encourage piracy. Jobs, speaking before the opening of the Apple Expo in Paris, said some major music labels are pushing for an increase in prices on Apple’s online iTunes Music Store.
Red Lion Hotels plans expansion
WestCoast Hospitality Corp. plans to expand its Red Lion Hotels into more than 100 markets over the next five years, the company said Tuesday. The Spokane-based company will also change its corporate name to Red Lion Hotels Corp. and introduce a new logo. On Friday, the company’s ticker symbol on the New York Stock Exchange will change from “WEH” to “RLH.”
Holiday sales rise may be moderate
Holiday sales are projected to increase 5 percent – well below the 6.7 percent gain in 2004 – as higher energy prices, the economic fallout from Hurricane Katrina, shaky consumer confidence and a volatile job market dampen spending, the National Retail Federation said Wednesday. However, consumers won’t have to wait to get the best deals this year because merchants are expected to be “aggressive in their pricing strategies throughout the entire holiday season,” said Rosalind Wells, chief economist for the Washington-based trade association. After enjoying steady sales throughout the year, the consumer spending pace has slowed over the summer, and analysts are worried about the fall selling season, which hasn’t kicked in for many merchants.
From Herald staff and news services
