BRIEFCASE AMGEN TO INVEST IN INFINITY STARTUP.Byline: - Staff and Wire Services
In a powerful endorsement for one of the region's most promising biotech startups, Amgen Inc. of Thousand Oaks Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. will make a $25 million investment in Infinity Pharmaceuticals Inc. of Cambridge, Mass.
The investment will give Amgen, the world's largest biotech company with 2003 revenues of more than $7.5 billion, a stake of 10 to 15 percent in Infinity's stock. It will also give Amgen access to Infinity's current library of about 100,000 small molecules, each designed to be a prospective drug, and additional compounds in the future.
Besides the one-time equity investment, Amgen will pay an undisclosed fee for access to Infinity's technology and make progress payments should any Infinity compounds reach clinical trials or other milestones on the road toward market approval, and royalties if a drug succeeds.
Satellite TV pact approved by judge
A federal judge gave a final OK to a settlement between DirecTV and a group that resells its satellite service in rural areas, but the largest member of the group still hasn't signed on, DirecTV said today.
The National Rural Telecommunications Cooperative and some of its member companies agreed in August of last year to continue their relationship with El Segundo-based DirecTV Inc. on the current terms until June 30, 2011, DirecTV said.
At that time, subscribers to DirecTV programming in the NRTC NRTC National Rural Telecommunications Cooperative
NRTC National Road Transport Commission (Australia)
NRTC National Respiratory Training Centre (UK)
NRTC National Research and Training Center territories will become DirecTV customers.
The NRTC serves nearly 20 percent of DirecTV's subscribers, according to according to
1. As stated or indicated by; on the authority of: according to historians.
2. In keeping with: according to instructions.
3. the group's Web site.
Outlook improves for Diodes Inc.
WESTLAKE VILLAGE - The fourth quarter should be better than originally expected for Diodes Inc., as the semiconductor manufacturer updated its sales guidance on Wednesday. The company expects revenue to increase 10 percent over the prior quarter's $34.9 million.
Earnings per share should increase 20 percent from the 18 cents per share Cents per share
The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. in the third quarter. Shares of Diodes rose $1.34, 6.46 percent, to close at $22.09 after the announcement.
Gemstar enters into agreement
Los Angeles-based Gemstar-TV Guide International Gemstar-TV Guide International, Inc. is a media company that licenses interactive program guide technology to multichannel operators, such as cable and satellite television providers, and consumer electronics manufacturers, video recorder scheduling code under brands such as VCR Inc. and South Korea's LG Electronics Inc. have entered an interactive program-guide license agreement, the companies said Wednesday.
Financial terms weren't disclosed.
Under the multiyear pact, LG has the right to incorporate TV Guide On Screen - Gemstar-TV Guide's interactive program guide for consumer electronics - into digital television products.
The licensed products include LG's integrated digital sets, digital video recorders and digital videodisc See DVD. recorders sold in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. .
3D Systems gets new sales official
VALENCIA - Valencia-based 3D Systems Corp. announced Wednesday that it has named Bob Kayser as vice president, global sales, effective Jan. 19.
Kayser joins 3D Systems after nearly two years at Kemet Electronics, where he most recently was based in Shanghai as vice president of Asia sales.
Founded in 1986, 3D Systems provides solid imaging products and systems solutions to reduce the time and cost of designing products and facilitate direct and indirect manufacturing.
Digital disc player is to be unveiled
TOKYO - Toshiba Corp. and NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98).
NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. Corp. have developed a next-generation digital video disc See DVD.
Digital Video Disc - Digital Versatile Disc player that will also be compatible with DVDs recorded in today's format, setting the stage for another possible clash among rival technology standards.
Toshiba said Wednesday it plans to start selling two players based on the new high-definition DVD See high-def DVD formats and HD DVD. format in 2005. A prototype was expected to be unveiled at the International CES exhibition that starts today in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. .
No pricing for the new machines was disclosed.
Next-generation DVDs will be able to record from 20 to 30 gigabytes of data. By contrast, today's DVDs can hold about 4.7 gigabytes, or enough to play about two hours of video programming in the conventional analog format.
IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. to cut some jobs, add others
WASHINGTON - The Internal Revenue Service announced plans Wednesday to cut around 2,400 jobs, mostly clerical, but said it would add nearly as many new positions to go after tax cheats.
IRS Commissioner Mark Everson said a dramatic increase in the number of electronic tax returns means fewer data entry workers are needed to process them.
``By tightening operations, we can devote more people to front-line positions and strengthen tax enforcement activities,'' Everson said.
The job cuts will be made early next year. Savings from them will go toward hiring 2,200 criminal investigators, revenue agents and revenue officers to pursue tax scofflaws.