TAM, Brazil’s largest airline, placed an order for its first Boeing Co. jets on Tuesday. In a deal worth more than $1 billion at list prices, TAM ordered four of Boeing’s 777-300 extended range passenger planes. The Latin American carrier will lease three MD-11s from Boeing until the aircraft manufacturer delivers the 777-300 ER order mid-2008. The bulk of TAM’s fleet previously has come from Airbus.
County’s retail sales keep growing
Snohomish County taxable retail sales grew to $2.7 billion in the second quarter of 2006, up 15.3 percent over the same period last year, according to the state Department of Revenue. The county outpaced the state’s increase of 10.5 percent, its biggest percentage gain in 16 years. Washington business sales soared to $27.6 billion from April to June, a $2.6 billion increase over the second quarter of 2005. The city of Everett enjoyed a 24.3 percent jump to $681.3 million in sales.
Lumera stock soars on Harvard news
Lumera Corp., a Bothell nanotechnology company, saw its stock soar Tuesday after announcing that Harvard Medical School researchers are using the firm’s biotechnology lab tools. Shares of Lumera rose $2.39, or 38 percent, to $8.74 after Lumera said the Harvard school is using its technology to research special proteins that may signal certain cancers and other illnesses. Lumera is a spinoff of Redmond’s Microvision Inc.
Procter &Gamble profits up 33%
Consumer products maker Procter &Gamble Co. said its first-quarter profit climbed 33 percent, boosted by sales from Gillette and improved margins. The company also lifted its full-year earnings outlook on a better commodity and energy cost forecast. Net income rose to $2.7 billion, or 79 cents per share, from $2.03 billion in the year-ago period. Quarterly revenue increased 27 percent to $18.79 billion on strong results from Gillette and the company’s base business.
Former Cendant chairman convicted
A federal jury found former Cendant Corp. Chairman Walter Forbes guilty of conspiracy to commit securities fraud and two counts of making false statements Tuesday in a massive fraud scheme that cost the travel and real estate company and its investors more than $3 billion. He was found not guilty of a fourth count, securities fraud. The case was being tried after two previous juries deadlocked. The Cendant case was among the first in a series of corporate accounting scandals that sparked outrage from investors in recent years.
Sony warns against PlayStation scams
Sony Corp. is warning against false promotional offers for its upcoming PlayStation 3 video game console. A number of Web sites have been promoting pre-orders on discounted or bulk shipments of the game system – without the cooperation of Sony, the company stated. Company representatives did not name the sites but suggested consumers can avoid potential scams by purchasing PlayStation products only from authorized retailers and resellers. The PlayStation 3 system, with models priced between $500 and $600, is set to go on sale in the U.S. on Nov. 17.
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