Briefcase

Twins accept settlement offer in lawsuit against Facebook

SAN FRANCISCO – The Harvard University classmates of Facebook founder Mark Zuckerberg are ending the legal battle made famous by the Hollywood movie “The Social Network.”

In a one-paragraph court filing Wednesday, Cameron and Tyler Winklevoss said they would accept a settlement that was worth $65 million when agreed upon in 2008.

The twins had sought to undo the settlement of $20 million cash and $45 million in stock.

The 9th U.S. Circuit Court of Appeals ruled against the twins, who said Wednesday they would forgo a trip to the U.S. Supreme Court.

Their stock is now worth more than $100 million.

Dutch airline KLM to use recycled cooking oil for fuel

AMSTERDAM – Dutch airline KLM plans to use recycled cooking oil as biofuel to power flights to and from France in a move aimed at cutting carbon emissions.

Starting in September, KLM will begin more than 200 flights between Paris and Amsterdam using biofuel made from used cooking oil, the company said Wednesday.

KLM managing director Camiel Eurlings said in a statement the airline does not have to make any changes to its aircraft engines to use the new biofuel. The biofuel flights are intended to help reduce KLM’s carbon emissions while having a “minimum negative impact on biodiversity and food supply.”

Qantas, Rolls-Royce settle in superjumbo engine case

SYDNEY – Australia’s flagship carrier Qantas said Wednesday it has reached a $100 million settlement with engine maker Rolls-Royce over last year’s mid-air disintegration of a superjumbo engine, which temporarily forced the grounding of its entire fleet of A380s.

Qantas CEO Alan Joyce said the terms of the agreement are confidential, but that the settlement’s profit and loss impact would amount to a $100 million boost to the airline’s bottom line.

Joyce said the settlement marks an end to the legal proceedings Qantas launched against Rolls-Royce in the Federal Court of Australia in December.

Anglo-Swedish company finds buyer for its dental business

LONDON – AstraZeneca PLC is selling its Astra Tech dental business, the world’s third-largest maker of dental implants, for $1.8 billion, the Anglo-Swedish pharmaceutical company announced Wednesday.

The buyer, DENTSPLY International Inc., said the acquisition would raise its annual revenue by about 25 percent and double its share of the high growth market for dental implants.

Astra Tech is based in Moelndal, Sweden, has 2,200 employees worldwide and reported revenue of $535 million last year.

The sale is expected to be completed in the second half of the year.