Chinese computer manufacturer Founder Technology Group Corp. signed an agreement Wednesday with Microsoft Corp. as part of an overall effort to crack down on widespread software piracy in China. Founder Technology President Qi Dongfeng said the company would buy $250 million worth of licenses for a Chinese version of Windows over the next three years, to be used on computers sold in China. The two companies also agreed to work together to promote the use of genuine versions of Windows.
Loan growth fuels City Bank profits
Substantial growth in loan volumes pushed first-quarter profits higher for City Bank. The Lynnwood-based bank reported a record profit of $8.2 million for the first quarter, an increase of nearly 64 percent over $5 million profit for the same period in 2005. On a per-share basis, earnings grew to 78 cents from 45 cents. The bank said it increased its average loan volumes during the quarter to $807 million from $628 million. That and improved net interest margins drove the increased profits, the bank said.
IBM’s stock price still in doldrums
International Business Machine’s continues to rake in the cash, but it has not translated to a higher price for its shares.
Many still late with tax returns
H&R Block Inc. said it saw a 5.4 percent increase in the number of income tax customers during the second half of March, and estimated 30 percent of taxpayers had yet to file their income tax forms for 2005. In its latest update on the tax season, the Kansas City-based company said it saw a 17.4 percent increase in software sales and clients filing taxes online during the second half of March compared with the same period a year ago.
Delta Air pilots continue picketing
Hundreds of Delta Air Lines Inc. pilots marched near the company’s headquarters on Wednesday and placed a giant inflatable rat on a street corner to symbolize what they see as corporate greed in management’s effort to void their contract and impose pay cuts.
From Herald staff
and news services
Talk to us
> Give us your news tips.
> Send us a letter to the editor.
> More Herald contact information.
