GE, SonoSite intensify patent fight
Published 9:18 pm Thursday, July 5, 2007
SonoSite Inc. of Bothell has filed a countersuit against General Electric, which sued SonoSite in May for alleged patent infringement. The two companies both make hand-carried ultrasound devices and have competed fiercely over the years for customers. SonoSite claims in its suit that GE’s products infringe on two SonoSite patents. SonoSite also said Thursday its second-quarter revenue grew by about 20 percent when compared with the same period last year.
Microsoft plans Canadian center
Microsoft Corp. plans to launch a new software development center in Vancouver, B.C., this fall to attract talent without encountering U.S. immigration issues. The location will be one of only a few development centers outside the company’s Redmond headquarters. The expansion list already includes centers in Boston and Bellevue.
Microsoft improves Xbox 360 warranty
Microsoft Corp. said Thursday it expects to spend more than $1 billion to repair widespread hardware problems in its Xbox 360 video game console after a large number of them broke down. Microsoft said it would extend the warranty on the Xbox 360 to three years after too many of the consoles succumbed to “general hardware failure.” It didn’t offer any further explanation.
Hilton stock soars on news of sale
Shares of Hilton Hotels Corp. soared 26 percent Thursday, two days after the company agreed to be bought by The Blackstone Group for $20.1 billion in cash. The deal was valued at $26 billion including debt. Shares of other lodging companies also rose as analysts speculated about which ones might become the next buyout targets. Hilton’s shares were the most heavily traded on the New York Stock Exchange. Shares rose $9.34 to $45.39.
Japanese company makes Barney’s bid
Japan’s Fast Retailing has offered $900 million in cash for Barneys New York, upping an earlier bid from a Dubai-based investment group, owner Jones Apparel Group said Thursday. On June 22, Jones announced it had agreed to sell the luxury retailer to an affiliate of Istithmar for $825 million. That offer was more than double what the New York-based apparel maker paid in December 2004 in its first foray into luxury brands. The deal had been expected to close during the third quarter of 2007. Jones’ shares rose 20 cents to $28.60 Thursday.
Nigerian violence boosts oil prices
Oil and gasoline prices advanced Thursday after renewed violence in Nigeria overshadowed a government report that surprised traders with news that fuel inventories grew faster than expected while refinery use grew more slowly than anticipated. Prices rose early in the day on news of kidnappings in Nigeria and then fell sharply after the inventory report was released. From there, prices fluctuated before finally settling higher. Meanwhile, imports grew.
From Herald staff
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