Business Digest

The Federal Home Loan Bank of Seattle asked the Securities and Exchange Commission Friday to withdraw its preliminary registration statement, becoming the 10th of the nation's 12 home-loan banks to confirm that it will miss Monday's filing deadline. The Seattle bank told the SEC in a letter that it needs to withdraw the filing it made in June to give it time to resolve issues with its auditor, PricewaterhouseCoopers LLC, and SEC staff members related to rules on accounting for derivatives. The bank didn't say whether it would have to restate its earnings.

NATIONAL NEWS

2 held in release of computer worm that hit U.S. companies

Authorities in Morocco and Turkey have arrested two people believed to be responsible for unleashing a computer worm that infected networks at U.S. companies and government agencies earlier this month, the FBI said in Washington Friday. Farid Essebar, 18, was arrested in Morocco, while Atilla Ekici, 21, was arrested in Turkey on Thursday, the FBI said. The Zotob worm and its variations targeted computers that run Microsoft Corp. operating systems, with Windows 2000 users most seriously affected. Microsoft played a role in locating the suspects, the FBI said.

Atkins Nutritionals stays afloat with approval of loan

Atkins Nutritionals Inc., founded by the late diet guru Robert Atkins, won court approval Friday to borrow as much as $25 million from UBS Securities LLC and other lenders so it can keep paying suppliers and employees. The loan approved by U.S. Bankruptcy Judge Allan Gropper in New York includes $5 million for letters of credit and matures on April 30.

UAW delays GM's cost cutting as financial review continues

The United Auto Workers hasn't completed a financial review to decide whether General Motors Corp. needs concessions to reduce health care expenses, the union's president said Friday, further delaying the automaker's plan to cut U.S. costs. "Nothing has changed from what we said in July," when the union hired bankers to study the world's biggest automaker's finances, UAW President Ron Gettelfinger told reporters at a meeting Friday in Detroit. "We're still analyzing the data."

High gas prices put damper on consumer confidence

Consumer confidence fell for the first time in three months in August as Americans paid record prices at the gasoline pump. The University of Michigan's index of consumer sentiment declined more than expected to 89.1 from July's 96.5, the first drop since May and the largest decline since February 2004. The survey was released Friday. A preliminary estimate of the survey on Aug. 12 put the index at 92.7.

Time Warner publishing unit reins in hiring and spending

Time Warner Inc.'s publishing unit, whose titles include Fortune, issued a hiring freeze Friday and clamped down on spending on customer gifts and travel to meet profit targets. Among the cuts cited in the memo: Workers can no longer give clients theater tickets or offer spa trips without approval; they were told to take the subway or taxis in Manhattan instead of car service; and they should cancel all non-essential travel.

Jones Apparel division taps former Neiman Marcus exec

Jones Apparel Group Inc., the maker of Anne Klein clothes and Nine West shoes, on Friday named former Neiman Marcus Group Inc. executive Clare Cuthbert president of its accessories division.

The company didn't specify whether Cuthbert was replacing anyone.

United Airlines granted more time on reorganization plan

A federal judge in Chicago on Friday granted United Airlines' request to extend until Nov. 1 the company's exclusive right to file a reorganization plan to get out bankruptcy. But Judge Eugene Wedoff warned United that it would be the last such extension he will grant "in the absence of compelling and unforeseeable circumstances."

WORLD NEWS

Canada may block satellite radio over language issue

Canada's government may revoke a ruling allowing satellite radio in the country because the broadcasters won't offer enough French-language channels, Canadian Satellite Radio Inc. founder John Bitove said. Talks with Liberal lawmakers meeting in Regina, Saskatchewan, suggest the ruling may be reversed, Bitove said in an interview this week. He declined to identify the lawmakers. Broadcasters including CHUM Ltd. have appealed the decision to Prime Minister Paul Martin, saying satellite providers should air more Canadian programming.

Maker of Vespa scooters moves ahead with IPO plan

Piaggio & C. SpA, Europe's biggest scooter maker and the maker of popular the Vespa models, aims to sell shares on the Milan, Italy, stock market next year, earlier than planned, as sales rise and losses at the company narrow, said investor Roberto Colaninno on Friday. "We're bringing forward the IPO to 2006, though it's premature to say exactly when," said Colaninno, whose Immsi SpA investment company holds 40 percent of Piaggio, in an interview.

EU paves way for Sun to buy information-storage firm

BRUSSELS, Belgium -- The European Union on Friday cleared computer server maker Sun Microsystems Inc.'s $4.1 billion acquisition of Storage Technology Corp., known as StorageTek. The EU head office's review of the deal showed the overlaps between the companies "are limited and that the combined entity would continue to face several strong competitors with significant market shares." StorageTek is an information-storage company based in Louisville, Colo.

NEW TOP OFFICERS

Nanostring Technologies Inc., a Seattle company trying to develop a biological system to aid in biomolecular analysis, Friday named John Sowatsky, formerly of Affymetrix, vice president of product development.

Exvere Inc., a Seattle investment banking company, Friday named David Cook, formerly an associate general counsel at Digital Insight Corp., director and general counsel.

SHIPPING NEWS

Vessels due at the Port of Seattle today, according to the Marine Exchange of Puget Sound, include COSCO Melbourne, from Long Beach, Calif., at anchor; CSCL Quindao, from Vancouver, B.C., at Terminal 18-4; Diamond Princess, from Victoria, B.C., at 30-North; Hanjin Miami, from Oakland, Calif., at 37; MOL Express, from Vancouver, B.C., at 5-Center; Norwegian Spirit, from Prince Rupert, B.C., at 66-2; Oosterdam, from Victoria, at 30-South; P&O Nedlloyd Horizon, from Oakland, at anchor; and Westwood Columbia, from Vancouver, B.C., at 5. Due tomorrow are Amsterdam, from Victoria, at 30-South; CCNI Shanghai, from Long Beach, at 18-4; Hansa Africa, from Pusan, South Korea, at 18; MOL Discovery, from Kaohsiung, Taiwan, at 5-Center; Norwegian Star, from Victoria, at 30-North; Port Pegasis, port of origin not given, at Glacier Terminal; and Sapphire Princess, from Victoria, at 30-North. Expected Monday are CSCL Sydney, from Pusan, at 18-2; and Mighty Servant, port of origin not given, at anchor.