Spitzer sues Intermix

New York Atty. Gen. Eliot Spitzer sued a major Internet marketer Thursday, blaming it for secretly installing software that delivers nuisance pop-up advertisements and can slow and crash personal computers.

Spitzer accuses Intermix Media Inc. of redirecting computer users to Web sites where ads get displayed, adding unnecessary toolbars to Web browsers and delivering unwanted ads that pop up on computer screens.

A six-month investigation found that the company installed a wide range of advertising software on countless personal computers nationwide, with more than 3.7 million downloads directed at New Yorkers alone, Spitzer said.

Real Estate

Mortgage rates dip

Rates on 30-year mortgages fell for a fourth consecutive week as more evidence of an economic slowdown eased concerns among bond investors about inflation.

Mortgage giant Freddie Mac reported Thursday in its weekly survey that rates on 30-year, fixed-rate mortgages averaged 5.78 percent this week, down from 5.80 percent last week.

It was the fourth straight decline and pushed the 30-year rate to its lowest level since late February.

Analysts attributed this week’s drop to weaker-than-expected economic reports.

Communications

Nextel profit declines

Wireless communication provider Nextel Communications Inc. reported a drop Thursday in first-quarter earnings, despite a surge in net subscriber additions, but said it was on track to meet forecasts for the year.

Quarterly income declined to $589 million, or 52 cents a share, from $593 million, or 52 cents a share, last year. Excluding a hefty tax benefit and other items, earnings for the latest period were $444 million, or 40 cents a share.

Revenue rose 16 percent to $3.61 billion from $3.1 billion.

Analysts surveyed by Thomson Financial expected Nextel — which plans to be purchased by Overland Park-based Sprint Corp. — to earn 41 cents a share on sales of $3.58 billion.

Regulators

KCP&L energy plan wins staff support

Kansas City Power & Light said Thursday that it had received tentative approval from Kansas regulators for an energy plan that includes a coal-burning plant in northwest Missouri.

Staff of the Kansas Corporation Commission signed off on the plan, which now goes to commissioners for approval.

KCP&L, a subsidiary of Kansas City, Mo.-based Great Plains Energy, filed a similar agreement with the Missouri Public Services Commission last month. Both agreements would allow KCP&L to recoup the plan’s $1.3 billion price tag by increasing energy rates, beginning in 2007.