May 4, 2011 in Business

Briefcase

 

Boeing sets out its timeline for delivery of 787s later this year

SANTIAGO, Chile – Boeing will deliver its first 787 jet in the third quarter this year and roll out two of the long-delayed new planes each month after that, a company executive said Tuesday in the Chilean capital.

Latin America is an important market for Boeing, with 11,000 company jets flying in the region and requests pending for 3,400 more. Chile in particular is a hot spot, as Chilean airline LAN merges with Brazil’s TAM airline to become the region’s dominant carrier. The merged company, LATAM, has ordered 26 of the big new 787s, which are the company’s biggest, said Boeing’s Vice President for Marketing Randy Tinseth.

In all, Boeing has received 835 requests from 56 companies for its 787s, he said.

Associated Press

FedEx agrees to settlement over delayed deliveries to government

WASHINGTON – The Justice Department says FedEx Corp. will pay $8 million to settle allegations that company couriers falsely blamed increased security following the Sept. 11 terrorist attacks for delivery delays on packages to the government.

The department says the couriers’ misuse of “delivery exception codes” blocked the government from seeking its money back on late-delivered packages. The Justice Department says the couriers used the codes even after tighter security was scaled back or became routine procedure for entering government buildings. A FedEx employee exposed what the couriers were doing in a lawsuit filed five years ago.

Associated Press

Factory orders climb again

as manufacturing demand increases

WASHINGTON – Businesses increased their demand for industrial machinery, computers and autos in March, lifting factory orders for the fifth consecutive month.

Orders rose 3 percent in March after a 0.7 percent increase in February, the Commerce Department reported Tuesday. A key category that signals business investment plans jumped 4.1 percent after a small increase in February and a big decline in January. Excluding the volatile transportation sector, orders rose 2.6 percent.

Associated Press

Comcast reports quarterly earnings higher than company expected

NEW YORK – Comcast Corp., the country’s largest cable TV company, on Tuesday said earnings exceeded estimates for the first quarter, helped by healthy results both in its cable operations and the newly acquired NBC Universal business.

Comcast says it lost just 39,000 cable TV customers in the quarter, the lowest number in four years. Cable companies have been losing customers to satellite and phone company services.

Even though Comcast did a better job of keeping subscribers, Internet video company Netflix Inc. surpassed Comcast in the quarter. Netflix ended March with 22.8 million U.S. subscribers, about 34,000 more than Comcast.

Associated Press


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