Boeing Co. made its first Next-Generation 737 delivery to a Hong Kong-based carrier Thursday. Boeing delivered a 737-800 to CR Airways, which will use the airplane to open a new route between Hong Kong and Tianjin on Monday. The airplane is the third 737-800 in the CR Airways’ fleet. The Next-Generation 737 has logged 450 gross orders in 2006. As of Aug. 31, 2006, 100 customers have placed orders for more than 3,300 Next-Generation 737s; the program has 1,360 unfilled orders with a value of about $91 billion at current list prices.
Safeco will lay off 240 employees
Safeco Corp. has announced plans to lay off or reassign 240 employees as part of a restructuring aimed at cutting $75 million from the insurance company’s annual expenses by the end of the year. Most of the employees affected will lose their jobs, Safeco spokesman Paul Hollie said, adding that the cuts will happen nationwide and across all departments. The Seattle-based company has about 9,000 employees in the United States.
Drug prices fall at Wal-Mart
Wal-Mart, the world’s largest retailer, plans to slash the prices of almost 300 generic prescription drugs, offering a big lure for bargain-seeking customers and presenting a challenge to competing pharmacy chains and makers of generic drugs. The drugs will be sold for as little as $4 for a month’s supply and include some of the most commonly prescribed medicines such as Metsormin, a popular generic drug used to treat diabetes and the high blood pressure medicine Lisinopril.
HP spy plan hurts stock price
Hewlett-Packard Co.’s stock price dropped more than 5 percent Thursday as investors reacted to reports that Chief Executive Officer Mark Hurd knew more about the computer and printer maker’s elaborate spying program than previously thought..
Palm profits slip as sales slow
Palm Inc., maker of Treo smart phones, said Thursday its profit for its fiscal first quarter slipped as it accounted for stock option expenses for the first time and grappled with slow sales growth amid tougher competition. For the three months ended Sept. 1, Palm said it earned $16.5 million, or 16 cents per share, compared to $18.2 million, or 18 cents per share, a year ago. Revenue was $355.8 million, up 4 percent from $342.2 million in the year-ago period. Analysts polled by Thomson Financial were expecting, on average, adjusted earnings of 18 cents on revenue of $354.4 million.
Branson to fight global warming
British business mogul Richard Branson on Thursday pledged to invest about $3 billion over the next decade to combat global warming and promote alternative energy, saying that it was critical to protect the environment for future generations. Branson said the money would come from 100 percent of the profits generated by his transportation sectors – trains and airline firms..
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