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A federal appeals court has denied a request from owners of thousands of low-power television stations to force a ban on government-subsidized converter boxes that can’t display their signals. via WINK-TV Fort Myers

The U.S. trade deficit narrowed sharply in March as demand for imports fell by the largest amount since the last recession was ending. via The Modesto Bee

China has established a company to start making passenger jumbo jets, Chinese state media reported Sunday

The Xinhua News Agency said that China Commercial Aircraft Co. was established in Shanghai with registered capital of $2.7 billion.

The plan marks a step forward in China’s long-term quest to design and build large aircraft, making it less dependent on Boeing Co. and Europe’s Airbus.

The central government and Shanghai government are among the major shareholders, as are China’s two main aircraft manufacturing and servicing companies, Xinhua said. Read more

“We are filing this appeal in a constructive effort to seek clarity from the court”

Microsoft Corp. on Friday said it has appealed a $1.39 billion fine imposed in February by the European Commission for the company’s failure to comply with a 2004 antitrust order. via Chicago Tribune

“We think everything’s in hand”

News Corp., the media conglomerate controlled by Rupert Murdoch, has withdrawn its bid to purchase the Long Island daily paper Newsday, a News Corp. spokeswoman said Saturday.

The decision to revoke the offer came just days after Murdoch confidently predicted he would clinch a deal to buy the newspaper within a week.

News Corp. had offered about $580 million for the paper, one of the country’s biggest, but it was competing against rival bids from Cablevision Systems Corp. and New York Daily News owner Mortimer Zuckerman. Cablevision had reportedly made an offer of $650 million for the paper, now owned by the Tribune Co. Read more