Simon Property sues
THE REGION
Caught in the consumer backlash against the fees and expiration dates attached to gift cards, mall operator Simon Property Group is fighting back. The Indianapolis company filed suit in federal court against the Massachusetts attorney general's office, claiming that its Simon Visa Giftcard is not subject to state law and therefore exempt from any civil enforcement action taken by the state office. The suit was filed in response to a letter from the attorney general, notifying Simon of its intent to bring a civil enforcement action. Because the gift card is issued by Bank of America and banks are federally regulated, Simon argues that its card is not subject to state law. (Naomi Aoki)
Excelergy cuts workforce
Excelergy Corp., a business process software company in Lexington, has laid off 44 of its 77 employees, including 29 at its headquarters. Excelergy president Dave Parkinson said the layoffs are part of a restructuring plan. The company is abandoning recent efforts to sell software to telecommunications and financial services companies, focusing instead on products for energy and utility companies. (Hiawatha Bray)
THE NATION
Postcards from cellphones
Cingular Wireless LLC has launched a service that lets people send copies of digital photographs taken with their cellphone as US Mail postcards for $2, postage included. The service, offered with Fuji Photo Film U.S.A. Inc., requires the name and address of the photo recipient to be entered on the cellphone handset. Once entered the data can be used over again. Subscribers reach the service through the ''What's Hot" line in the wireless Internet menu of camera phones and the cost is added to their monthly bill. Cingular bought AT&T Wireless Services Inc. this month to become the biggest US wireless carrier with over 46 million subscribers. (Peter J. Howe)
Office Depot
plans layoffs
Office Depot Inc. disclosed plans to cut roughly another 800 jobs, including positions in retail stores, its corporate headquarters, and its European sales force, officials said. The news comes two weeks after officials said 900 jobs would be cut as the company consolidates operations at eight call centers and offices in six states. In a filing with the Securities and Exchange Commission, Office Depot -- the nation's second-largest office supply retailer -- said it was reducing its staff at retail stores in North America by 2 percent. Altogether, the cuts were estimated to generate $14.2 million in annual savings. (AP)
THE WORLD
French merger planned
The French government wants to merge Airbus parent EADS with defense company Thales to create a European giant to rival Boeing. Financial daily Les Echos reported that the government is pushing for a takeover of Thales SA by European Aeronautic Defence and Space Co. EADS, which is 15 percent owned by the French state and relies heavily on government orders for its military businesses, refused to say whether the companies had discussed such a deal. Thales officials did not return calls. The French state owns one-third of Thales, which provides electronics and weapons systems for planes, ships, and ground-based forces. (AP)
Profits up at British Sky
Satellite broadcaster British Sky Broadcasting Group PLC reported strong growth in subscribers and a jump in revenue that exceeded analysts' expectations, underpinning a 3 percent rise in quarterly net profit. BSkyB shareholders also voted to approve a bonus plan for chief executive James Murdoch and a share buyback that will increase the majority stake of Rupert Murdoch's News Corp. The company said net profit for the three months ended Sept. 30 was $172 million, up from $167 million for the corresponding period in 2003. Revenue rose to $1.7 billion from $1.58 billion. (AP)
