Briefcase

Six banks buy back TARP investments

WASHINGTON – Six banks have repurchased investments the government made under its taxpayer-funded financial rescue program, paying a total of $626 million including dividends, the Treasury Department said Wednesday.

With the latest payments, repayments by financial institutions under the Troubled Asset Relief Program now total $235 billion, with an additional $35 billion in income from dividends, interest and the sale of other securities. The Treasury Department released a total $389 billion under TARP, created at the height of the financial crisis in October 2008.

Banks repaying TARP funds were:

• EastWest Bancorp, based in Pasadena, Calif.

• Webster Financial Corp., based in Waterbury, Conn.

• 1st Source Corp., of South Bend, Ind.

• Surrey Bancorp, based in Mount Airy, N.C.

• Nationwide Bankshares, based in West Point, Neb.

• Haviland Bancshares Inc., of Haviland, Kan.

Associated Press

Fiat metalworkers call strike on new rules

MILAN – A metalworker’s union on Wednesday called for a strike at Fiat’s Italian plants to protest new agreements with other unions.

The FIOM union is opposing agreements between Fiat and other unions introducing more flexible work rules, saying the deals in effect kill the system of national contracts. FIOM is calling for an 8-hour strike on Jan. 28.

Associated Press

Google, Facebook named in patent lawsuit

SEATTLE – Interval Licensing LLC, a company owned by billionaire Microsoft Corp. co-founder Paul Allen, has filed an amended lawsuit against Facebook, Google Inc. and nine other companies, claiming they infringed on patented Web technology.

Interval Licensing, based in Seattle, owns the rights to information systems, computer science and communications technology developed in Silicon Valley by Interval Research, which Allen co-founded in the 1990s. Interval Research no longer exists.

Interval’s new lawsuit is chock-full of examples of the four patents in question. Two of the patents are related to the way websites suggest additional, related content to what’s being shown on the screen.

The other two patents are related to the way computer programs and websites send alerts to the user without disturbing their main activity on the computer, unobtrusively and off to the side.

Associated Press

Honda Motor recalls 18,500 snow blowers

WASHINGTON – American Honda Motor recalled approximately 18,500 snow blowers due to a potential fire hazard, just two days after the arrival of one of the worst winter storms in decades.

The devices were sold at Honda Power Equipment dealers from April 2005 through November 2010 for about $2,000 to $3,400.

American Honda Motor Co., based in Torrance, Calif., said customers should immediately stop using the snow blowers and bring them to a dealer for a free fuel tank joint and o-ring replacement.

Snow blowers involved in the recall contain model number HS724 with frame serial number SZBE-1037913 through 1046577; model number HS928 with frame serial number SZAS-1151080 through 1169012 and model number HS1132 with frame serial number SZBF-1018734 through 1025998. The model numbers can be found on the side of the front scoop. Frame serial numbers are located on the rear of the snow blower just below the engine.

Associated Press