784 Charged With File-Sharing
Record companies sued 784 people for illegally distributing songs from file-sharing networks such as Grokster in a new round of lawsuits days after a U.S. Supreme Court ruling against the networks. The Recording Industry Association of America said it filed copyright infringement suits in the District and eight states.
Court Approves Settlement of EBay IPO Suit
EBay chief executive Meg Whitman won approval in Delaware Chancery Court of a $3 million settlement of investors' claims that she got favored treatment from securities firm Goldman Sachs for shares in initial public offerings. The judge said the decision to hand over money made from the IPO shares to eBay "was an appropriate resolution" of lawsuits filed by eBay shareholders.
Group Says More Needed for Digital TV Switch
Congress should provide a subsidy of $3.5 billion to pay for converter boxes for 42 million households if it sets a deadline for television stations to switch to digital signals, said Consumers Union, citing a poll of 1,007 adults. The cost estimate is almost eight times the $463 million contained in a bill that would require TV stations to convert by the end of 2008 from analog technology to digital.
Oracle Profit Boosted by Acquisitions
Oracle said fourth-quarter profit increased 3.2 percent, to $1.02 billion from $990 million in the comparable period a year earlier, bolstered by rising demand in North America and chief executive Lawrence J. Ellison's $11.2 billion acquisition spree. Revenue rose 26 percent, to $3.88 billion.
PalmSource Gains on Sale of Name
PalmSource, which makes software for handheld computers and mobile phones, swung to a profit of $18.3 million in its fiscal fourth quarter from a loss of $2.9 million, helped by a $26.7 million gain from the sale of the Palm brand name to its former parent and largest customer, handheld-device maker PalmOne. Revenue fell 2 percent, to $17.3 million.
Research in Motion Profit More Than Doubles
Research in Motion, maker of the BlackBerry e-mail pager, said first-quarter profit more than doubled, to $132.5 million. Sales rose 68 percent, to $453.9 million.
Yahoo, Google Let Users Customize Maps
Yahoo and Google introduced software that lets independent programmers create customized online maps, encouraging outsiders to find new ways to use their services.
Compiled from staff and news service reports.