In Brief
WASHINGTON
Wal-Mart seeks dismissal of gender discrimination lawsuit
Wal-Mart Stores Inc. has asked the Supreme Court to throw out a massive class action lawsuit alleging gender discrimination over pay for female workers.
Wal-Mart is the world's largest private employer and could face billions of dollars in legal damages if the lawsuit is heard and it loses.
The 9th U.S. Circuit Court of Appeals ruled in April that Wal-Mart should face charges in court that it pays women less than men for the same jobs.
The lawsuit was first filed by six women in federal court in 2001. They also allege that female employees receive fewer promotions and have to wait longer for those promotions.
The company, based in Bentonville, Ark., filed its appeal with the Supreme Court on Wednesday.
LAS VEGAS
Western Alliance raises about $73.9 million from note offer
Western Alliance Bancorporation said Wednesday it raised about $73.9 million before expenses from an offering of senior notes due in 2015 with an annual interest rate of 10 percent.
The bank holding company said the notes were sold to the public at 98.5 percent of face value, and held an aggregate $75 million in principal.
The Las Vegas-based company said it will use proceeds from the offering for general corporate purposes, including purchasing nonperforming assets from its bank subsidiaries and making capital injections into its banks.
Western Alliance is the parent company of Bank of Nevada, First Independent Bank of Nevada, Alliance Bank of Arizona, Torrey Pines Bank, Alta Alliance Bank, Shine Investment Advisory Services and Premier Trust. The company's banks operate in Nevada, Arizona and California.
SYDNEY
Full-year earnings more than double for miner BHP Billiton
BHP Billiton Ltd., the world's biggest miner, said Wednesday its full-year earnings more than doubled, as the company slashed its debt and enjoyed record demand for iron ore.
Net profit for the year to June 30 was $12.7 billion, up from $5.9 billion the year before, the Melbourne-based company said in a statement. Net debt fell to $3.3 billion, down 41 percent from last year.
Revenue for the year was $52.8 billion, up 5.2 percent from $50.2 billion a year earlier amid record sales of iron ore, metallurgical coal and petroleum.
Despite the strong result, the company said it remained cautious on the short-term outlook for the global economy.
LOS ANGELES
Apple reportedly plans to offer hit TV show rentals for 99 cents
Apple Inc.'s iTunes store may have revolutionized the music business, but its recent push to let people rent TV shows for 99 cents won't amount to a game changer for how people watch TV.
The idea to offer episodes of hit shows for rental a day after their broadcast may be great for people with busy lifestyles, and it could help Apple sell more iPhones and iPads, but only a few of the major media companies support the plan.
That's because they already make money from TV shows in several ways, and compared with those, the planned price of 99 cents is seen as a big cut, some people familiar with Apple's proposal said.
Media companies already sell episodes on iTunes, but for $1.99 or $2.99, and sometimes more than a day after the broadcast. Because most people watch such shows just once, the cheaper rental model might end up cutting into revenue, rather than boosting it.
SEATTLE
Source: Dell plans sweeter 3Par bid after HP trump
Dell is planning a second offer to try to keep data storage maker 3Par out of Hewlett-Packard's hands, according to a person familiar with the situation.
The exact timing and amount of Dell's offer are not known. The person says Dell's bid will likely top Hewlett-Packard Co.'s offer Monday of $1.5 billion. Dell had previously offered $1.13 billion.
