Business Briefly

  • Thursday, December 2, 2004 9:00pm
  • Business

Seattle Genetics Inc. of Bothell said Thursday that it has begun the first clinical trials of SGN-40, an experimental cancer drug, on patients with non-Hodgkin’s lymphoma. The drug already is being tested for another form of cancer. Non-Hodgkin’s lymphoma includes a diverse group of cancers that develop in the body’s lymphatic system. Together, they make up the sixth most common cancer in the nation, with approximately 19,000 people a year dying from the disease.

Singapore buys Boeing Internet

Singapore Airlines will become one of the first airlines in the world to offer broadband Internet service for passengers via Connexion by Boeing, a division of the Boeing Co. The airline and Connexion announced Thursday that they have signed a definitive agreement for the installation of in-flight Internet service on Singapore Airlines’ long-haul fleet. The airline also plans to offer live TV broadcasts as well.

Holiday sales disappointing

The outlook for the holiday season dimmed Thursday as the nation’s retailers reported disappointing sales for November following an uninspiring Thanksgiving weekend. Downbeat reports came from across the sector as stores released their first solid results for the start of holiday shopping. The dismal results included Wal-Mart, Federated Department Stores, Gap and even upscale retailers like Nordstrom.

Dollar rallies after a new euro low

The dollar rallied after dropping to a record low Thursday against the euro amid uncertainty about whether officials would intervene to curb the currency’s slide. The euro fell back to $1.3270 in high-volume trading late in New York after rising to $1.3383 in European trading. The previous record of $1.3335 was set Tuesday.

Holiday demand boosts Intel sales

Semiconductor giant Intel Corp. dramatically raised the range of its fourth-quarter sales forecast Thursday as it benefited from strong holiday demand for microprocessors, the brains of personal computers. The Santa Clara, Calif.-based company now estimates its sales at $9.3 billion to $9.5 billion for the three months ending Dec. 31. In October, Intel predicted sales of $8.6 billion to $9.2 billion. Analysts were expecting the maker of Pentium chips to earn 28 cents a share on sales of about $8.97 billion, according to a Thomson First Call survey conducted before Thursday’s update.

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