Roughly $29 billion worth of aircraft were ordered during the Farnborough International Airshow last week outside of London.
Boeing logged in 12 new orders for its 777 from Emirates. Aircraft leasing companies ordered a total of 106 Boeing 737s.
Boeing also picked up an order from American Airlines for 35 737s, though the order was not part of the air show. Both Boeing and Airbus executives say the aviation industry is recovering from the global recession.
Two Cascade Bank directors resign: Cascade Financial Corp. Wednesday signed a consent decree with the Federal Deposit Insurance Corp. to develop a plan to improve its finances. The Snohomish County-based bank also reported a quarterly loss of $24.8 million, or $2.02 per diluted common share. The consent decree prompted the resignation of bank directors Dwayne Lane and Craig Skotdal, who earlier vowed a proxy fight over how the bank was run.
Starbucks profit rises: On Wednesday, Starbucks reported a 37 percent increase in its third-quarter profit as customers visited its coffee shops and spent more money when they did. The Seattle-based company earned $207.9 million or 27 cents per share in the quarter that ended in late June. Starbucks announced it will pay a 30 percent higher quarterly dividend of 13 cents on Aug. 20 to those who held its stock on Aug. 4.
Microsoft’s net income up: Microsoft Corp. said Thursday its net income rose 48 percent in the quarter, the latest sign businesses are again spending money on technology. Strong sales of Windows, particularly to corporate customers, helped boost results in the fiscal fourth quarter. Net income jumped to $4.52 billion, or 51 cents per share, from $3.05 billion, or 34 cents per share, last year.
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