Maine agency OKs bond to support paper, pulp jobs

The Finance Authority of Maine said Monday that it has approved $7.5 million in bond financing for St. Croix Tissue Inc., based in Baileyville.

The proceeds will be used to partially finance the purchase and installation of two new tissue-making machines and will help St. Croix and a related company, Woodland Pulp LLC, create and retain about 450 Maine jobs, the authority said in a news release. The $7.5 million taxable bond is supported by the state through its Major Business Expansion Program.

The financing will help to create 80 jobs at the mill and another 80 related jobs in the area, state officials said. It also will help its related company retain the 300 existing jobs at the Woodland Pulp facility.

Google Glass to feature Ray-Ban, Oakley frames

Google is hoping to make its Internet-connected eyewear more stylish as part of a partnership with the makers of Ray-Ban and Oakley frames.

The alliance with Italian eyewear company Luxottica Group, announced Monday, represents Google’s latest attempt to make wearable technology look less geeky as it tries to develop new ways to ensure people can stay connected to the Internet wherever they go. Last week, Google disclosed that fashion accessory maker Fossil Group is working on an Internet-connected wristwatch that runs Google’s Android software for mobile devices.

Luxottica will develop frames equipped with Google Glass, a computing device that includes a thumbnail-sized screen above the wearer’s right eye to view Internet content. Google has only sold Glass to a select group of test subjects known as “Explorers,” who have been mocked for wearing a piece of futuristic eyewear that looks better-suited for cyborgs.

Cisco to invest over $1 billion in cloud computing network

Cisco says it plans to spend more than $1 billion over the next two years to build up its cloud computing network and add a new service to be called Cisco Cloud Services.

The move makes the San Jose, Calif.-based networking company the latest to enter an arena that caters to the growing number of companies that would rather rent computing space than build their own.

One of the biggest players in the market is Amazon.com. IBM Corp. said in January that it will invest $1.2 billion in its cloud computing operations.

Nokia deal with Microsoft delayed by Asia regulators

Nokia Corp. says the sale of its mobile phone unit to Microsoft will be delayed until next month because it is still waiting for approval from regulatory authorities in Asia. The Finnish company said Monday that the $7.3 billion deal, expected to be completed in the first quarter of 2014, has been approved by the EU and U.S. authorities but reviews in Asia are not done.