InBusiness: Concorde case: Mortgage rate dips

The 2000 crash of an Air France Concorde killed 113 people, Jul 04, 2008 (Tulsa World - McClatchy-Tribune Information Services via COMTEX) -- CAL | Quote | Chart | News | PowerRating -- and the Concorde program.

Thursday in Paris, a judge ordered Continental Airlines and five people to stand trial on charges of manslaughter.

French investigators say the crash was caused in part by a titanium strip from a Continental DC-10 that was lying on the runway when the supersonic jet took off. Two of the individuals to stand trial are employees of the Houston-based airline.

The judge's order outlines eight years of painstaking efforts to try to pin down who exactly could be tried in court, prosecutors said.

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The nation's benchmark mortgage rate, which had risen five straight weeks, declined this week as signals from the Federal Reserve eased worries about imminent rate increases.

The average 30-year, fixed-rate home loan is 6.35 percent, down from 6.45 percent last week, which had been the highest level since last September, mortgage company Freddie Mac reported Thursday after conducting its weekly nationwide survey.

Frank Nothaft, chief economist at Freddie Mac, said financial markets were relieved with the statement from the Federal Reserve

last week that eased concerns about imminent rate hikes.

Turboprop purchase

General Electric Co.'s aviation unit is entering the market for small twin-engine turboprop aircraft, which it calls the industry's fastest-growing segment.

GE Aviation said Thursday it has purchased assets of Walter Engines, a manufacturer of small turboprop engines and machined parts for the aviation industry.

Cincinnati-based GE Aviation did not disclose terms of the deal.

Walter Engines, based in the Czech Republic, has manufactured aircraft engines since 1923.

GE Aviation is a business of Fairfield, Conn.-based GE. It makes commercial and military jet engines, components and mechanical systems for aircraft.

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