BUSINESS BRIEFS
YouTube lawsuit called threat to communication
Advertiser Staff and News Services
NEW YORK — A $1 billion copyright infringement lawsuit challenging YouTube's ability to keep copyrighted material off its popular video-sharing site threatens how hundreds of millions of people exchange all kinds of information on the Internet, YouTube owner Google Inc. said.
Google's lawyers made the claim in papers filed in U.S. District Court in Manhattan as the company responded to Viacom Inc.'s latest lawsuit alleging that the Internet has led to "an explosion of copyright infringement" by YouTube and others.
The back-and-forth between the companies has intensified since Viacom brought its lawsuit last year, saying it was owed damages for the unauthorized viewing of its programming from MTV, Comedy Central and other networks, including such hits as "The Daily Show with Jon Stewart."
PROMISING LEADS IN BUG REPELLENTS
WASHINGTON — Researchers have identified seven possibilities for the next generation of mosquito repellent, some of which may work several times longer than the current standard-bearer, DEET. The next step: safety testing to make sure they're not harmful.
While the new repellents aren't likely to be available commercially for a few years, early tests on cloth were promising, with some chemicals repelling mosquitoes for as long as 73 days and many working for 40 to 50 days, compared with an average of 17.5 days with DEET, according to a study in today's edition of Proceedings of the National Academy of Sciences.
Biting insects such as mosquitoes and ticks can spread diseases such as encephalitis, Lyme disease, Rocky Mountain spotted fever, malaria and dengue fever.
4 NYC BUILDINGS ARE SOLD FOR $1.5B
NEW YORK — A real estate investment group has agreed to pay nearly $1.5 billion in cash for four Manhattan office towers, including the landmark General Motors building on Fifth Avenue from New York developer Harry Macklowe.
The deal, one of the richest ever for New York City office space, was announced Saturday by Boston Properties, a publicly traded company led by publisher and real estate baron Mortimer Zuckerman.
The gem of the package is the GM Building, a 50-story tower built in 1968 at the southeast corner of Central Park that occupies a full city block.
L.A. LAWYERS BUY HISTORIC BUILDING
LOS ANGELES — One of the most venerated structures in downtown Los Angeles, a richly embellished Jazz Age office tower honoring the fine arts, has been acquired by two high-profile attorneys for $23.5 million.
The Fine Arts Building, on West Seventh Street, is now owned by Brian Kabateck and Mark Geragos, who last week announced its purchase from a Denver real estate partnership. The Los Angeles lawyers plan to take over almost half the space on the top floor while continuing to rent the rest of the space in the 12-story building.
Kabateck and Geragos, whose clients have included singer Michael Jackson, already own offices in a nearby former fire station built in 1912.
KOREANS, ARABS WILL LAUNCH CO-OP
SEOUL, South Korea — South Korea and a group of governments from the Middle East and Africa agreed to launch a cooperative organization yesterday aimed at enhancing political, cultural and economic ties.
The Korea-Arab Society will group South Korea with governments, corporations and organizations from 22 countries and authorities in the Arab world. President Omar al-Bashir of Sudan and President Ismael Omar Guelleh of Djibouti delivered speeches at the opening ceremony of the conference.
South Korea has been active economically in the Middle East for decades, with its construction companies in particular having played a big role.
