Briefcase

Nordstrom income rises 25 percent

PORTLAND — Upscale retailer Nordstrom Inc. reported Thursday that its first-quarter net income rose 25 percent as its revenue improved.

But the company lowered its full-year outlook to reflect the impact of an acquisition, and its shares fell in after-hours trading.

The company, based in Seattle, said it earned $145 million, or 65 cents per share, for the quarter that ended April 30. That’s up from $116 million, or 52 cents per share, in the same quarter last year.

Nordstrom’s revenue increased 12 percent to $2.23 billion, meeting expectations.

Associated Press

Rate falls again for 30-year mortgage

Freddie Mac said the average rate on a 30-year fixed mortgage fell to 4.63 percent and the average rate on the 15-year fixed loan slipped to 3.82 percent. Both are lows for the year.

The fourth straight weekly decline has made buying or refinancing more attractive for Americans.

Associated Press

LimeWire settles with record labels

SAN FRANCISCO — File-sharing software company LimeWire, which shut down last year after being barred from allowing people to share copyright-protected files online, reached a $105 million out-of-court settlement with the major record labels Thursday, the labels said.

In a statement, Recording Industry Association of America Chairman Mitch Bainwol said his group, which represents the labels, is pleased with the settlement.

LimeWire, which had enabled people to share songs and other files over the Internet, had been fighting the RIAA for several years.

The RIAA argued LimeWire’s software encouraged illegal sharing of copyrighted music. Last May LimeWire was found liable of copyright infringement, with a trial to follow early this year. That trial started last week.

Associated Press

Playdom settles privacy charges with FTC

An online game company owned by Walt Disney Co. is paying $3 million to settle federal children’s privacy charges.

The Federal Trade Commission alleges Playdom Inc. operated 20 websites that illegally collected ages and email addresses from hundreds of thousands of children under age 13 when they registered and that allowed kids to post their names, email addresses, instant messenger IDs and location on personal profiles and in online forums, all without getting parents’ permission.

The 1998 Children’s Online Privacy Protection Act, enforced by the FTC, requires parental consent to collect or use such information.

Associated Press