EU court demands Microsoft changes

A European Union court ruled Wednesday that Microsoft Corp. must immediately share some trade secrets with competitors and produce a version of its Windows operating system stripped of a program that plays music and video.

The ruling thwarts the software giant’s attempt to delay implementation of an EU antitrust decision designed to have a deeper impact than Microsoft’s settlement with the U.S. government.

Microsoft said it would restrict its compliance to the European market, and analysts said the financial impact would be minimal.

Real estate

Mortgage rates rise

Mortgage rates inched higher this week.

Freddie Mac’s weekly survey released Wednesday showed rates on 30-year, fixed-rate mortgages increased to 5.75 percent, compared with 5.68 percent last week.

Rates on 15-year, fixed-rate mortgages — a popular option for refinancing — rose to 5.18 percent this week, up from 5.11 percent last week.

Merger

Jesse Jackson seeks Sprint-Nextel meeting

The Rev. Jesse Jackson on Wednesday asked for a meeting with the heads of Sprint Corp. and Nextel Communications Inc. to discuss the companies’ planned merger and its effect on minorities.

The two telecommunications companies last week announced a $35 billion deal to consolidate next year, forming the third-largest wireless provider in the country with 38 million subscribers.

The civil rights leader, on behalf of his Rainbow/PUSH Coalition, said he wanted to make sure that the merger wouldn’t hurt minority consumers and that minorities and women would be able to serve in top leadership positions of the merged company.

Radio

FCC fines owner of KC-area station

Federal regulators on Wednesday proposed a $220,000 indecency fine against the owner of two Kansas radio stations for broadcasting a “Naked Twister” game with local strippers and graphic interviews with porn stars.

The Federal Communications Commission said the material, which aired during the “Dare and Murphy Show,” was indecent and clearly intended to “pander to and titillate the audience.” The commission cited four broadcasts during April and May of 2002, which aired on stations KQRC-FM in Westwood and KFH-AM in Wichita.

Both stations are owned by Entercom Communications Corp., based in Bala Cynwyd, Pa.

Regulation

Kmart, Sears give FTC time for review

Sears, Roebuck and Co. and Kmart Holdings Corp. said Wednesday that they would withdraw a required regulatory filing on Kmart’s purchase of Sears, a move to give the Federal Trade Commission more time to review the deal.

In November, Kmart agreed to buy Sears for $10.5 billion.