Biman Bangladesh Airlines ordered four 777-300ER extended-range jets and four 787-8 Dreamliner airplanes Tuesday at a signing ceremony in Dhaka, the capital of Bangladesh. The airline also has purchase rights for four more 777s and four additional 787s. Biman Bangladesh Airlines, which began as a government-owned national carrier in 1972, became Bangladesh’s largest public limited company in 2007.
Norwegian firm to offer electric car
A Norwegian automaker plans to sell an electric car in the United States that goes 110 miles without a charge and costs less than $25,000. The company, Think Global, said two venture capital firms are funding the U.S. operation. Think North America is likely to be based in Southern California and the cars will be assembled locally, investors said. They intend to put the first model on the market by the end of 2009. The car, named Think City, is a two-seater with a top speed of about 65 mph, the company said. It runs on sodium batteries and is 95 percent recyclable.
Yahoo earnings more than triple
Yahoo’s first-quarter earnings more than tripled, helped by rising marketing services revenue. The Sunnyvale, Calif.-based search engine operator, which is trying to fend off an unwanted takeover attempt from Microsoft Corp., reported income of $542.2 million, or 37 cents per share, compared with $142.4 million, or 10 cents per share, in the year-ago quarter. On an adjusted basis, Yahoo earned 11 cents per share. Revenue rose to $1.82 billion from $1.67 billion. Excluding traffic acquisition costs, revenue rose to $1.35 billion from $1.18 billion.
McDonald’s posts strong gain
Strong international sales helped McDonald’s Corp. post a 24 percent gain in first-quarter profit, but investors seemed nervous about the company’s first monthly decline of U.S. same-store sales in five years. The fast food behemoth easily topped Wall Street forecasts Tuesday when executives said it earned $946.1 million, or 81 cents per share, during the January-to-March period. That’s up from $762.4 million, or 62 cents per share, during the same period last year.
Existing home sales fall again in March
Sales of existing homes fell in March, the seventh drop in the past eight months, as the spring sales season got off to a rocky start. The median price of a home was down compared with a year ago, and some economists predicted home prices could keep falling for many more months given all the troubles weighing on housing, from a severe credit crunch to a rising tide of foreclosures. The National Association of Realtors reported Tuesday that sales of existing single-family homes and condominiums dropped by an adjusted figure of 2 percent.
Correction
City Bank’s annual shareholder meeting is scheduled to start at 3 p.m. today at the Lynnwood Convention Center, 3711 196th St. SW. in Lynnwood. An incorrect date was given on Tuesday’s Business page.
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