Print

Email story

Comment

Letter to the editor

Microsoft faces $1.3B antitrust fine from EU

By Times Wires
Published February 28, 2008

BRUSSELS

The European Union's longest-running fight with Microsoft Corp. neared an end Wednesday as regulators imposed a record $1.3-billion fine on the world's largest software company for failing to fully comply with a 2004 antitrust order. Microsoft has not decided whether to appeal the penalty. In all, the company has been fined just less than $2.4-billion by European antitrust regulators over the years. Barring an appeal, the fine shuts the door on an investigation into Microsoft's behavior that was triggered by a 1998 complaint by Sun Microsystems Inc.

WASHINGTON

Feds to ease rules on Fannie, Freddie

The federal regulator for Fannie Mae and Freddie Mac said Wednesday it would lift restrictions on the amount of mortgages the government-sponsored companies can hold on their books. The Office of Federal Housing Enterprise Oversight said the two companies' mortgage investment limits, currently near a combined $1.5-billion, would be lifted Saturday. The caps were imposed in 2006 in response to the companies' multibillion-dollar accounting lapses, thereby limiting their participation in the market for securities backed by home mortgages.

TAMPA BAY AREA

Verizon completes switching upgrade

Verizon Wireless recently completed a more than $20-million upgrade to its network switching facility in the Tampa Bay area. The changes would boost capacity for wireless users across the region, officials said. The upgraded switch handles all wireless traffic from the core Tampa Bay area, as well as Sarasota, Lakeland and Citrus County. It processes millions of voice calls and data transmissions each month.

MINNEAPOLIS

Northwest pilots cite age concerns

With talks stalled between pilots at Northwest and Delta airlines, Northwest pilots Wednesday laid out some key problems holding up a potential airline combination. The update said the largest difference between Northwest's pilots "and other potential pilot groups" is that Northwest has nearly 1,000 aviators of 4,800 total who will turn 60 within five years. And although mandatory pilot retirement age is about to change to age 65, Northwest pilots survived bankruptcy with their age-60 pension largely intact and many are expected to retire then rather than wait until 65. If Northwest doesn't merge, younger pilots could expect to move up quickly as older colleagues retire. But that won't be the case if Northwest pilots find themselves mixed into the younger workforce of a consolidated airline, which would number roughly 12,000 pilots if Delta and Northwest combine.

LOS ANGELES

Sick-cow loophole draws society suit

The Humane Society sued the federal government Wednesday over what it said is a legal loophole that allows sick or crippled cattle, called "downers," into the food supply. A U.S. Department of Agriculture rule change made in July allows some downer cows into the food supply, the Humane Society of the United States alleges in its lawsuit filed in U.S. District Court in Washington, D.C.

[Last modified February 27, 2008, 23:58:26]