WASHINGTON (voa) – Seven U.S. states have dropped their anti-trust lawsuit against computer software giant Microsoft.
The states said they will accept a settlement between Microsoft and the federal government under which the company was ordered to share some technical information with competitors and barred from making anti-competitive agreements on its products.
The seven states had sought tougher penalties on Microsoft. But they said they have decided to accept the settlement and turn their efforts to making sure the court order is enforced and the company abides by rules of fair competition.
However, one state, Massachusetts said it is appealing the federal court settlement with Microsoft. It said the federal judge’s order will not limit Microsoft’s aggressive business practices. And it said tougher penalties are needed to limit the company’s power.
United Flight Attendants Agree to Pay Cut
Flight attendants at United Airlines have agreed to reduce their pay – in an attempt to help America’s second largest airline avoid bankruptcy.
A spokesman for the flight attendants union said about 87 percent of United stewards and stewardesses who voted agreed to the deal, which is expected to save the airline about $412 million.
But the vote means little as long as United’s mechanics continue to resist proposals to cut their pay and benefits by about $600 million. The mechanics union rejected the pay cut this past week.
Labor unions at United have said their agreements to accept pay cuts are contingent on every union taking part in the financial sacrifice.
United Airlines has said its application for a federal loan guarantee of $1.8 billion is imperiled if all unions do not agree to pay cuts. It says that without the loan guarantee, the airline will have no choice but to file for bankruptcy.
However, the airline also has said a bankruptcy would not have an immediate effect on passengers, with United continuing to fly its normal domestic and international schedules.
Brazil May Need To Pay Up To $61 Billion on Debt in First Half of 2003
Bloomberg News reports Brazil’s president-elect Luiz Inacio Lula da Silva needs to come up with as much as $61 billion during the first half of next year to pay down the national debt.
The business news service says investors are demanding shorter-term maturity dates on Brazilian bonds out of concern that the new government may increase spending and default on more than $300 billion in loans.
Mr. da Silva takes office January 1, after winning last month’s election on promises to increase social spending for the poor while keeping Brazil from defaulting on its debts.
US Shoppers Hit Stores in Search of Holiday Bargains
Many U.S. consumers rose early Friday with turkey hangovers, but ready to hit shopping malls across America in search of holiday bargains.
The Christmas shopping season traditionally starts Friday, one day after Thanksgiving celebrations. This year, it is also the first day of the Jewish celebration of Hanukkah, and next week marks the end of Ramadan, while the African-American holiday of Kwanza starts on the 26 of December.
With a holiday for almost everyone, it is no wonder stores opened as early as 4 a.m., local time, in some parts of the country, offering “early bird” bargains on hot-selling favorites, such as dolls and computer games.
Economic analysts are keeping a careful eye on this season’s holiday sales. Last year, retailers did just over $200 billion in sales. Market-watchers predict only a four percent rise this holiday season, the weakest increase in five years. All the same, early reports show shoppers out in large numbers.
