Boeing Co.’s business jet division has won seven new orders so far this year, bringing the unit’s total sales to 135.
The latest orders are worth about $479 million at list prices, although customers typically pay less. Six are based on the narrowbody 737-700 and one is modeled off the new midsize, long-haul 787-9.
Boeing did not disclose the seven customers.
Bothell biotech plans stock sale
Northwest Biotherapeutics Inc. intends to raise up to $30 million by selling shares of its stock to foreign investors, the Bothell-based biotechnology firm said Monday. The company plans to use the proceeds from the stock placement to pay down existing debt and fund clinical trials for its experimental cancer treatments.
T-Mobile phone will run Windows
T-Mobile USA today launches the first cell phone in the U.S. to come with Microsoft Corp.’s latest version of Windows Mobile, with improved handling of e-mail and tougher security. The T-Mobile Wing costs $299 with a two-year contract and runs Windows Mobile 6, Microsoft’s latest operating system for “smart” phones, which handle e-mail, documents and Web browsing in addition to phone calls. The Wing also features a 40-key keyboard that slides out from the 2.8-inch touchscreen.
Law would separate retailers from banks
Legislation barring commercial companies like Wal-Mart and Home Depot from owning banks overwhelmingly cleared the House on Monday. The bill, which passed 371-16, would prohibit nonfinancial companies from setting up or owning so-called industrial loan companies, federally insured institutions that can issue credit cards, make loans and take deposits. Such loan companies have proliferated in recent years: There are now 58 with a total of about $200 billion in assets.
Home improvement slump hits Lowe’s
Profit at Lowe’s Cos. fell 12.1 percent in the first quarter, disappointing analysts’ expectations and depressing shares of the country’s second-largest home improvement retailer. The Mooresville, N.C.-based company said mixed weather and a continued housing slump hurt sales. Rival Home Depot Inc., the nation’s largest home improvement store chain, said last week its first-quarter income dropped 29.5 percent. Lowe’s had net income of $739 million, down from $841 million a year earlier.
Nordstrom to issue quarterly dividend
Nordstrom Inc.’s board of directors approved a quarterly dividend of 13.5 cents per share payable on June 15 to shareholders of record as of May 31. The Seattle-based retailer reported last week a 19-percent rise in profit for the latest quarter.
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