Jet Airways, India’s largest airline, has exercised options for three 777-300ER jets at a list value of $790 million. On the same day came word of a sale to West Jet of Canada of 20 737s in a deal valued at $700. Negotiated prices are typically lower and are not announced. The India order follows a previous order for 10 777-300ERs in September 2005. West Jet’s order is in addition to the three 737s it ordered last month.
Northwest Bio drug tied to patent claim
Northwest Biotherapeutics Inc. is disputing a complaint filed recently by Lonza Group AG over patent infringements. The Bothell-based company recently received approval to sell its brain cancer vaccine in Switzerland, a move that would bring in the company’s first revenue. Lonza alleges in its complaint that Northwest Biotherapeutics infringed upon Lonza’s gene expression technology patents.
Microsoft delays Apple Office release
Microsoft Corp. will delay the release of Office 2008 for Apple Inc.’s Macintosh computers until the middle of January 2008 in order to fix lingering bugs in the software. The software maker previously said the new suite, which is to include Microsoft Word, Excel, PowerPoint and the Entourage e-mail program, would go on sale sometime in the second half of 2007.
Losses increase for Stewart Living
Martha Stewart Living Omnimedia Inc. reported Wednesday its second-quarter losses were much broader than last year, weighed down by one-time charges and declining sales at Kmart, but it predicted a return to profitability later this year. The New York-based media and merchandising empire, which includes magazines, TV shows and products such as paints, said it lost $6.74 million, or 13 cents per share, compared with $1.17 million, or 2 cents per share in the year-ago period.
Cable TV properties aid Time Warner
Strength in cable TV helped Time Warner Inc. increase second-quarter earnings 5 percent, beating analyst forecasts Wednesday. The conglomerate, which owns CNN, HBO and the Time Inc. publications, said that from April to June it earned $1.07 billion, 28 cents per share, ahead of last year’s profit of $1.01 billion and 24 cents per share. Although Time Warner also announced a new $5 billion stock buyback plan, shares fell 62 cents, or 3.2 percent, to $18.64 Wednesday.
Slow July growth for U.S. factories
While the U.S. manufacturing sector grew for the sixth consecutive month in July, expansion was the slowest since March, a survey said Wednesday, indicating that the economy is plodding along at a tepid pace. The Institute for Supply Management said its manufacturing index, which reflects the opinions of purchasing managers at factories, plants and utilities, registered 53.8 in July, down from 56.0 in June.
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