In brief: Novation agrees to fine for waste

A Spokane Valley business will pay $34,000 to settle a dispute with Washington’s Department of Ecology over long-term dangerous waste mishandling.

Last year and again in February, state inspectors said they found 20 violations involving dangerous waste practices at Novation Inc., an electroplating and metal finishing firm at 2616 N. Locust Rd.

The state said the firm improperly labeled dangerous waste containers, left some containers partly open, kept waste byproducts on site too long and failed to keep required records.

Novation’s owner entered into an expedited settlement, paying $34,000 instead of an initial proposed penalty of $42,500.

Tom Sowa

Mortgage rates dip slightly

Washington – Rates this week for 30-year home loans stayed below 5 percent for the second week in a row.

The average rate fell to 4.91 percent from 4.98 percent a week earlier, mortgage company Freddie Mac said Thursday.

The average rate on a 15-year fixed-rate mortgage fell to 4.36 percent from 4.40 percent recorded last week, according to Freddie Mac.

Associated Press

Intel to pay AMD $1.25 billion

San Francisco – Intel Corp. will pay $1.25 billion to make peace with Advanced Micro Devices Inc., as the companies whose microprocessors run nearly all personal computers finally found common ground in a bitter and colorful dispute that caused international antitrust trouble for Intel.

The settlement announced Thursday sent AMD stock soaring and ended a four-year-old lawsuit in which AMD accused Intel of abusing its dominance of the chip market to keep a lid on AMD’s share. Intel has about 80 percent of the microprocessor market, and AMD has about 20 percent.

According to the lawsuit, Intel penalized computer makers for using AMD’s chips or offered them financial incentives.

Associated Press

Sale report lifts Playboy stock

Chicago – Shares of Playboy Enterprises Inc. soared Thursday on a report that the men’s magazine publisher is in talks to sell its business to New York-based Iconix Brand Group Inc.

The stock rose by as much as 66 percent during the day and closed up $1.21, or 43 percent, at $4.07. Iconix shares fell 39 cents, or 3.2 percent, to finish at $11.76.

A news report by Bloomberg said Iconix has examined Playboy’s finances, but there’s no guarantee of a deal, citing people close to the situation.

Iconix owns brands that it licenses to manufacturers, such as Candie’s and London Fog.

Associated Press