Business briefs for June 27

Business briefs for June 27
By The Associated Press Modified: June 26, 2013 at 10:28 pm •  Published: June 27, 2013
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Business briefs

Microsoft backs off new interface

Microsoft is trying to avert slumping PC sales and growing criticism of its flagship operating system with the release of a revised version of Windows 8. On Wednesday, Microsoft made a preview version of Windows 8.1 available for download. It includes alterations meant to address consumer dissatisfaction with the operating system. Analysts believe users' frustration with Windows 8 is partly to blame for the biggest drop in personal computer sales in nearly two decades. At a conference in San Francisco, Microsoft CEO Steve Ballmer acknowledged that the company pushed to get people to adopt a radical new tile-based user interface in Windows 8. Microsoft is now making it easier to reach and use the older interface.

Monsanto's earnings slide

Monsanto's fiscal third quarter earnings slipped 3 percent, as hits to the agricultural product maker's cotton and soybean segments weighed on results. The St. Louis company also said Wednesday that it tried to plant a seed for future growth by eating some drought-related expenses in the recently completed quarter. Monsanto said the 2012 drought that parched stretches of the United States forced it to use South American greenhouses more often to produce corn seeds. That contributed to a 7 percent increase in the cost of goods sold in this year's quarter. Monsanto swallowed the higher expenses tied to seed production instead of passing them along through price hikes.

BP prepares for settlement battle

With an ad blitz and a tersely worded letter, BP is mounting an increasingly aggressive campaign to challenge what could be billions of dollars in settlement payouts to businesses following its 2010 oil spill in the Gulf of Mexico. In letters that started going out Tuesday, BP warns lawyers for many Gulf Coast businesses that it may seek to recover at least some of their clients' shares of the multibillion-dollar settlement if it successfully appeals a key ruling in the legal wrangling spawned by the nation's worst offshore oil spill. The London-based oil giant says it is sending hundreds of the letters to attorneys for businesses the company believes received excessive payments from the court-supervised settlement program.

Dish withdraws bid for Clearwire

Satellite TV operator Dish Network Corp. is withdrawing its offer to buy wireless network operator Clearwire Corp. Dish had offered $4.40 per share for Clearwire. But Dish said on Wednesday that it is ending its bid, which had the option to be withdrawn based on Clearwire's recommendation. Last week Sprint raised its offer to buy the portion of Clearwire that it does not already own to $5 per share. Clearwire's board recommended that shareholders accept the new offer. It had previously endorsed Dish's offer. Shares of Clearwire fell 11 cents, or 2.2 percent, to $4.98 in after-hours trading following the announcement. Dish shares lost 9 cents at $40.11.



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