Business briefs

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More problems for 787

Boeing Co. said Friday it found microscopic wrinkles in the skin of the long-delayed 787’s fuselage and is installing a patch, said Lori Gunter, a Boeing spokeswoman. The 787 is built for fuel efficiency from lightweight carbon composite parts.
Boeing ordered an Italian supplier to stop making the fuselage sections on June 23, she said, and is installing a patch — additional layers of carbon composite material — on the first of several 787s.
The patches eventually will be installed on 787 fuselages at plants in Italy, Everett, Wash., and South Carolina.
Guilty plea in tax case
A Malibu, Calif. man accused of trying to avoid paying taxes has agreed to plead guilty to failing to report more than $1 million he transferred to a Swiss bank account, according to court documents filed Friday.
John McCarthy is expected to appear in court Sept. 14 and faces up to five years in prison and fines totaling $250,000.
McCarthy is the first person to be named publicly after the Swiss and U.S. governments reached a deal Wednesday to settle American demands for the identities of suspected tax dodgers.
Greenberg settles again
Former American International Group Inc. CEO Maurice “Hank” Greenberg and others have agreed to pay $115 million to settle fraud claims in a lawsuit filed on behalf of three Ohio state pension funds and shareholders.
State Attorney General Richard Cordray announced the agreement Thursday night, the third such settlement from the lawsuit for a total of $284.5 million.
Greenberg was forced out of AIG after charges that the company had engaged in deceptive accounting practices surfaced.
Spain economy slips
Spain’s economy shrank by 1 percent in the second quarter compared with the previous three months, the government reported, indicating the country is still mired in recession and not showing the signs of recovery of fellow EU members France and Germany. It was the fourth consecutive quarterly contraction of a once-robust economy and was due principally to a continuing decline in consumer demand, offset somewhat by exports, the National Statistics Institute said.
Republic wins airline
Frontier Airlines CEO Sean Menke says the Denver-based carrier could emerge from bankruptcy as early as next month.
Republic Airways Holdings won a bankruptcy court auction Thursday for Frontier with a nearly $109 million bid that had been sweetened to offer creditors other than Republic about 18 cents on the dollar.
Menke said Friday that Southwest Airlines Co. withdrew its bid of more than $170 million after it became clear that pilot unions for both airlines wouldn’t be able to agree on how their ranks would be integrated.