Alinghi laments Oracle snubbing talks to end spat GENEVA — America's Cup winner Alinghi said Thursday it "regrets" that challenger Oracle has rejected its offer to resume talks aimed at resolving a dispute over the next race. Alinghi's home club, Societe Nautique de Geneve, said it sent a letter to Golden Gate Yacht Club, which backs BMW Oracle Racing, inviting it to discuss the date, venue, race format and participation of other teams in the next race.

Google CEO to stay on Apple board despite inquiry MOUNTAIN VIEW, Calif. — Google Inc. CEO Eric Schmidt said he doesn't plan to resign from Apple Inc.'s board despite a government inquiry into whether the ties between the two companies violate antitrust law. Schmidt made his remarks Thursday in response to questions posed by reporters before Google's annual shareholder meeting. A Google lawyer confirmed recently published reports that the Federal Trade Commission is looking into whether the company's overlapping board relationships with Apple will discourage future competition.

Japan's top chipmaker Toshiba posts record loss TOKYO — Japan's top chipmaker Toshiba Corp. tumbled to a record annual loss amid sinking global demand that has forced it to cut thousands of jobs. Toshiba reported Friday a 343.6 billion yen ($3.5 billion) net loss for the fiscal year ended March, compared with a 127.4 billion yen profit in the previous year. It was the company's biggest loss ever and its first annual net loss in seven years.

Nintendo's annual profit rises 8.5 percent TOKYO — Nintendo's annual profit rose 8.5 percent, propelled by its hit Wii and DS game machines, but a forecast for lower sales shows even the resilient video game maker isn't totally immune to the global slump. Still, Nintendo is faring much better than other big name Japanese manufacturers like Toyota Motor Corp. and Hitachi Ltd., both forecasting record annual losses, lending weight to president Satoru Iwata's boast the game maker is "recession free."

Cisco earnings fall 21 pct but beat expectations NEW YORK — Cisco Systems Inc. said Wednesday that earnings fell 21 percent in its latest quarter, but the profit comfortably beat Wall Street expectations amid signs that the market is stabilizing. Chief Executive John Chambers said customers are "finally seeing something reasonably solid underneath their feet," and the company itself has seen order rates apparently bottom out.