Business news briefs
Oil prices rise
The price of oil closed above $96 Friday after the government said the economy added 175,000 jobs last month, a good sign for fuel demand. Benchmark oil for July delivery gained $1.27, or 1.3 percent, to finish at $96.03 a barrel. Oil ended the week with a gain of 4.4 percent.
Shares up for
Shares of Elan Corp. PLC jumped Friday after Royalty Pharma once again raised its offer to buy the Irish drugmaker in an increasingly bitter takeover fight. Royalty said it will pay $13 in cash for each Elan share, and it will give stockholders the right to receive up to an additional $2.50 per share in milestone-based payments.
Ketchup maker H.J. Heinz Co. said Friday its acquisition by Warren Buffett's Berkshire Hathaway and 3G Capital is complete. 3G, the Brazilian investment firm that also owns Burger King, is known for its aggressive cost-cutting at the companies it takes over, suggesting Heinz could be in store for big changes.
stirs Whole Foods
Whole Foods Market is reviewing its employee language policy after two of its Spanish-speaking workers in New Mexico said they were suspended after complaining about it, a company spokeswoman said Friday. Two employees at an Albuquerque store said they were suspended for a day after recently complaining about a company rule that they say forbids them from speaking Spanish to each other while on the job.
up after IPO
Textura Corp. shares are climbing in their trading debut after the software company raised $75 million in its initial public offering of stock. Textura sold 5 million shares for $15 each, the high end of its expected price range of $13 to $15. The Deerfield, Ill., company provides project management software for the construction industry.
TiVo settled patent disputes with Cisco, Motorola Mobility and Time Warner Cable, averting a trial and bringing to a close a string of legal squabbles over its pioneering digital video recorder technology. TiVo Inc., based in Alviso, Calif., spent the past several years going after pay-TV companies, saying that they were using its patented technology in DVRs.
Xbox One can
play used games
Microsoft's upcoming Xbox One gaming console will be able to play used games, although there will be a some restrictions involved. The console, which will debut later this year, also will need to be connected online at least once every 24 hours to work, although it will not require a connection to watch Blu-ray movies. Microsoft will give more details about the console next week at the E3 gaming show in Los Angeles.
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