Business news briefs
dips from high
Confidence among U.S. homebuilders slipped this month from the 6Â½ year high it reached in January, with many builders reporting less traffic by prospective customers before the critical spring home-buying season.
Boxing club also
a fitness center
Title Boxing Club has opened at 7817 S. Highland Drive, the first of three fitness centers planned for Salt Lake County. The club, part of a national franchise based in Kansas City, Mo., offers group training classes seven days a week by instructors with various specialties using elements of boxing and kickboxing. For more information and hours of operation, visit http://www.TitleBoxingUtah.com.
forgoes $78M payout
Swiss drugmaker Novartis AG has agreed with its outgoing chairman to scrap plans for a farewell non-compete deal that could have netted him up to 72 million francs ($78 million). The announcement followed criticism from some of the company's shareholders and Swiss politicians.
Higher rates boost
Marriott International Inc. turned a profit in its fourth quarter, driven by an increased number of rooms in its portfolio and higher occupancy rates. The company earned $181 million, or 56 cents per share, in the three-month period ending Dec. 28, up from $141 million, or 41 cents per share, a year earlier. Revenue rose 2 percent.
Kansas planemaker Beechcraft, formerly Hawker Beechcraft, emerged from bankruptcy protection free of much of its debt and its unprofitable business jet operations. The company is now focused on its turboprop and piston aircraft, and on its military work.
Dell earnings off
31 percent in 4Q
Dell Inc. on Tuesday posted another quarter of declining sales and profits, deepening a downturn that disenchanted shareholders and culminated in the slumping personal computer maker's recent decision to take its stock off Wall Street in a $24.4 billion deal. The proposed sale, announced just two weeks ago, diminished the importance of the numbers released Tuesday.
Judge OKs another
Gulf spill settlement
A federal judge on Tuesday approved Transocean Ltd.'s agreement with the Justice Department to pay $1 billion in civil penalties for its role in the massive 2010 oil spill in the Gulf of Mexico. Last week, a different judge approved Transocean's criminal settlement with the federal government. The Swiss-based company pleaded guilty to a misdemeanor charge and will pay an additional $400 million in criminal penalties.
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