Business Briefing

FAA faulted on oversight of American

A report by a government watchdog is finding fault with the Federal Aviation Administration’s oversight of aircraft maintenance at American Airlines.

The report says the case raises questions about the effectiveness of the FAA’s maintenance oversight of airlines in general.

The report released by the Transportation Department’s inspector general is based on an investigation of complaints lodged in February 2008 by the pilots union at American Airlines.

FAA and American officials say the problems have been addressed.

INTERNET

Microsoft-Yahoo alliance is OKd

U.S. and European regulators have cleared the long-discussed Internet search partnership between Microsoft Corp. and Yahoo Inc., enabling the rivals to form a tag team as they try to mount a more serious challenge to Google Inc.

The government approved an alliance that Microsoft and Yahoo proposed in July after years of flirtation and often contentious negotiations.

Yahoo now plans to rely on Microsoft’s search technology in an attempt to boost its sagging profits. Microsoft is counting on the 10-year deal with Yahoo to provide more muscle as it tries to counter Google’s domination of the lucrative Internet search market.

Hacker network is uncovered

Security experts have found a network of 74,000 virus-infected computers that stole information from corporations and government agencies. The find reflects the dangers of having computers with sensitive data connected to the Internet.

More than 2,400 organizations -- including financial institutions, energy companies and federal agencies, were infiltrated by the “botnet,” according to NetWitness Corp.

FOOD

Recovery may bump up prices

Food costs may accelerate at the higher end of a government forecast as a global economic recovery boosts demand and energy costs, a Department of Agriculture economist said.

Food costs are forecast to rise 2.5% to 3.5% this year. In 2009, they climbed 1.8%.

ENERGY

Google unit can buy, sell power

Google Inc. has won approval to trade in wholesale electricity markets.

The Federal Energy Regulatory Commission authorized a Google subsidiary to buy and sell wholesale power. Google’s request was like those of “a large number of industrial companies” seeking to manage energy costs, said Pamela Harvey, a FERC economist.

Google wants to reduce the cost of buying electricity from wind turbines and solar panels to help power its data centers.

BANKRUPTCY

Tribune granted more filing time

A U.S. Bankruptcy Court judge in Delaware extended until March 31 Tribune Co.’s exclusive right to file a reorganization plan in its Chapter 11 case.

The extension gives Tribune Co. more time to try to forge a compromise between increasingly belligerent senior and junior creditors representing close to $13 billion in claims against the Chicago-based media conglomerate.

-- times wire reports