The U.S. government took its dispute over government aid for European airplane maker Airbus back to the World Trade Organization...
The U.S. government took its dispute over government aid for European airplane maker Airbus back to the World Trade Organization, just two weeks after officials indicated they were committed to negotiating a solution.
The U.S. Trade Representative’s Office in Washington, D.C., said it made its request Thursday to begin legal proceedings on its Oct. 6 complaint that European government loans to Toulouse, France-based Airbus amount to an illegal subsidy and should be stopped. The European Union has a countersuit, claiming Boeing receives unfair financial incentives itself.
The two governments had been trying on and off to avoid a WTO confrontation. The most recent attempt at talks broke down May 31, although on June 17, both sides said they were still in favor of a diplomatic solution.
Turkish Airlines to buy more planes
Turk Hava Yollari, Turkey’s national airline, will buy an additional eight planes from Boeing, exercising an option under a sale accord reached last year.
The carrier will buy eight more Boeing 737-800 planes on top of the 15 it agreed to purchase Sept. 28, the company, known as Turkish Airlines, said yesterday. It didn’t say how much it will pay. Last year’s order was worth $1.04 billion based on list prices at the time.
Accounting firm will review filings
Seattle-based supercomputer-maker Cray said yesterday that it appointed Peterson Sullivan as its new independent accounting firm.
The appointment follows a warning from the Nasdaq Stock Market that Cray faced delisting because it failed to include an auditor’s opinion of financial controls in its recent annual report.
In April, Deloitte & Touche said it would not stand for re-election as Cray’s independent auditor. Peterson Sullivan “will begin immediately with the quarterly review and filing of the Form 10-Q for Cray’s second-quarter 2005 financials,” said Dan Regis, chairman of the audit committee for Cray’s board.
The company said the change was not related to any disagreement between the company and Deloitte & Touche.
Recall announced for exercise benches
Nautilus, the maker of Bowflex, StairMaster and other fitness equipment, will recall about 10,000 exercise benches because a weld can crack and separate, the U.S. Consumer Product Safety Commission said.
The NT 1020 exercise bench can collapse if the weld fails, the commission said yesterday. Nautilus has received four reports of the main pivot separating from the bench’s frame. No injuries have been reported.
“Four out of 10,000 feels like a small number, but it puts us in a range where we want to take action,” said Nautilus spokesman Ron Arp.
Vancouver, Wash.-based Nautilus recalled about 800,000 Bowflex Power Pro and Ultimate fitness machines in January and November 2004. The company’s stock fell 33 cents, or 1.2 percent, to $28.17 yesterday.
Compiled from Bloomberg News and Seattle Times business staff