Contracts

Rio Tinto Signs A Pact With Chinalco (RTP, ACH, BHP)

Posted on 03/19/10 at 4:58pm
Rio Tinto Ltd. (NYSE: RTP) has inked a deal with Aluminum Corp. of China (NYSE: ACH) for developing the Simandou iron ore project. Rio Tinto owns a 95% stake in the Simandou project. Chinalco will pay $1.35 billion to acquire a 47% stake in the joint venture.
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EADS May Bid For Air Force Contract (BA, NOC)

Posted on 03/19/10 at 2:27pm
EADS is still in contention for a multibillion dollar contract for aerial refueling aircrafts. EADS had recently ended the trans-Atlantic partnership formed for the purpose of bidding on the contract. The US Defense Department has signaled its willingness to extend its May 10 deadline for bids.
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Boeing Anticipates Increase In Demand For Commercial Planes (BA)

Posted on 03/19/10 at 2:25pm
Boeing (NYSE: BA) is planning to augment production rate of two of its commercial jet programs. The company is optimistic about an increase in demand from the commercial airline sector.
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Federal Judge Rules Theflyonthewall.com Misappropriated Investment Bank Recommendations (MS, BCS)

Posted on 03/18/10 at 9:39pm
A federal judge ruled today that financial news site, Theflyonthewall.com misappropriated "time-sensitive recommendations," of several investment banks, including Barclays (NYSE: BCS), Merrill Lynch, and Morgan Stanley (NYSE: MS).
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Google Denied “Nexus” Trademark (GOOG)

Posted on 03/18/10 at 1:53pm
The U.S. Patent and Trademark Office has refused to grant the “Nexus One” trademark to Google (NASDAQ: GOOG). The petition has been declined due to its possible confusion with a related trademark held by Integra Telecom Inc. Integra had registered the trademark in 2008 and currently provides telecommunication service under that name.
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Bank of America Sued By Dutch Fund ABP (BAC)

Posted on 03/17/10 at 3:45pm
Bank of America (NYSE: BAC) has been sued by Dutch pension fund ABP over its Merrill Lynch deal. ABP is the world’s third largest state pension fund. ABP has claimed that Bank of America (BAC) withheld important information about the takeover.
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Microsoft Loses Patent Case (MSFT, VHS)

Posted on 03/17/10 at 3:43pm
Microsoft (NASDAQ: MSFT) has been ordered to pay $105.75 million to Software firm VirnetX Holding Corp (AMEX:VHS). VirnetX (VHS) had filed a case against Microsoft (MSFT) for the infringement of two of its patents. VirnetX had demanded $242 million in damages.
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Alpharma Agrees To Settle Lawsuit (KG)

Posted on 03/17/10 at 12:16pm
Alpharma Inc., a unit of King Pharmaceuticals Inc. (NYSE: KG), has agreed to pay $42.5 million to settle a lawsuit filed against it. Alpharma (KG) was accused of bribing doctors to promote and prescribe its morphine drug Kadian. The case was filed in 2006 by Debra Parks. She will now receive $5.33 million.
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AIG To Pay $46 Million In Bonuses (AIG)

Posted on 03/15/10 at 3:52pm
American International Group (NYSE: AIG) is expected to pay $46 million in retention bonuses. The figure is 30% lower than previously announced. AIG (AIG) has slashed its bonuses by $21 million in an attempt to quell the public outrage against the payments.
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CityCenter Contractor May Sue MGM Mirage (MGM)

Posted on 03/12/10 at 8:06pm
MGM Mirage (NYSE: MGM) disclosed in a filing to U.S. regulators that it may be sued by the general contractor of its CityCenter project for $492 million. MGM Mirage and Dubai World are equal partners in the Las Vegas Strip project.
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