OPEC reduces daily oil output

Seeking to keep prices up without having them go high enough to suppress oil use, OPEC agreed Friday to reduce its daily oil output by 1 million barrels a day. It also reserved the right to cut deeper early in 2005 if crude becomes much cheaper than now. But traders said they were taking a wait-and-see attitude toward the pact and sent oil prices sharply lower. The move by the Organization of Petroleum Exporting Countries is intended to prevent further revenue losses amid falling prices.

Mall shoe store shutting down

The parent company of The Athlete’s Foot retail chain has filed for Chapter 11 bankruptcy protection and plans to close all of its corporate-owned stores, including one at Alderwood mall in Lynnwood. Another 593 independent franchise stores across the nation will not be directly affected by the bankruptcy. Earlier this year, the Footaction store at Alderwood also closed after that athletic shoe chain filed for bankruptcy.

Japan Airlines Boeing Internet

Connexion by Boeing and Japan Airlines said Friday that passengers flying between London and Tokyo will be the first to have high-speed Internet access in the air. The service, which started today, allows full Web surfing and e-mail service during the flight. It is initially being provided every other day in the first, business and economy classes on the Tokyo-London route. The service costs $30 for unlimited Internet access during long-haul flights, though passengers can pay less for limited access.

Brothers accused of selling degrees

With help from software giant Microsoft Corp., officials tracked down two brothers who authorities say sold bogus college degrees over the Internet, including an MBA that was issued to a pet cat. Pennsylvania officials sued Craig Barton Poe, 35, of Frisco, Texas, and his brother, Alton Scott Poe, 40, of St. Cloud, Fla., on Monday, after Microsoft identified them as the operators of Trinity Southern University over the Internet.

From Herald staff and news services