GM to shut down Saturn after Penske terminates talks with GM on uncertain future assemblyDETROIT — For those who expected General Motors’ once-funky Saturn brand to live on with a new owner, there has been a sad twist. Saturn, once billed as a different kind of car company, appears as dead as Pontiac and Oldsmobile. Force Protection to cut 10 percent of work force, or about 120 workers, plans realignmentLADSON, S.C. — Force Protection plans to reduce its work force by 10 percent, or about 120 workers, as it copes with a decline in orders for military vehicles over the past year. L-3 gets $11.9 million Air Force pact for mission communications systemWASHINGTON — A unit of L-3 Communications Holdings Inc. received an $11.9 million contract from the Air Force for a mission communications system, the Pentagon said late Tuesday. Oshkosh Corp. receives $801 million Pentagon order for nearly 2,500 new, rebuilt vehiclesOSHKOSH, Wis. — The defense division of Oshkosh Corp. has signed a roughly $800 million deal with the Pentagon to deliver nearly 2,500 new and rebuilt military vehicles. Bombardier joint venture awarded $4 billion contract to supply high speed trains to ChinaTORONTO — Train maker Bombardier Inc. said Monday its Chinese joint venture has been awarded a $4 billion contract to build 80 high-speed trains for China’s railway ministry. Borders to offer free WiFi service through Verizon starting in OctoberANN ARBOR, Mich. — Bookseller Borders Group Inc. said Tuesday it signed a deal with Verizon Communications Inc. to provide free WiFi service in “virtually all” of its more than 500 stores around the country. FairPoint says it hopes to restructure debt but still may have to file for Chapter 11CHARLOTTE, N.C. — Troubled phone company FairPoint Communications Inc. said Monday that it’s in talks with some of its lenders in hopes of restructuring its debt, but still may be forced to file for bankruptcy protection. Stocks jump as investors see burst of takeovers as good sign for a recoveryNEW YORK — Corporate dealmaking is boosting investors’ hopes for a recovery in the economy. Honeywell gets $79.1 million Army contract for engines and fielding kits for ChinookWASHINGTON — Honeywell International Inc. recently received $79.1 million contract from the Army to make engines and fielding kits for the CH-47 Chinook helicopter, the Pentagon said late Friday. Summary Box: Air Force kicks off $35 billion tanker competition between Boeing, NorthropFRESH START: The Air Force on Friday released its latest request for bids on a $35 billion contract for mid-flight refueling tankers coveted by Boeing Co. and Northrop Grumman Corp. Switzerland says Libya detaining 2 Swiss in unknown location, as relations sour furtherGENEVA — Switzerland and Libya reached a new low point in their relations Friday as the Swiss government announced that two of its citizens are being held at an undisclosed location in the Arab country. Air Force renews bid to award troubled $35 billion tanker contact to either Boeing, NorthropWASHINGTON — The Air Force on Friday launched its third attempt to award a $35 billion tanker contract to either Boeing Co. or Northrop Grumman Corp. Board of Boston Globe’s largest union curtails president’s authority amid probe of financesBOSTON — The executive board of The Boston Globe’s largest union says union president Daniel Totten appears to have violated its financial rules. Treasury inspector general to review GM, Chrysler plans to close dealershipsWASHINGTON — The inspector general for the Treasury Department’s $700 billion bailout fund said Thursday that he will review the decisions of General Motors and Chrysler to close a large portion of their auto dealerships as part of their restructuring plans. Feds: Calif. meatpacker tied to largest US beef recall slaughtered ‘downer’ cows for 4 yearsLOS ANGELES — A Southern California meatpacking plant that supplied beef to the nation’s school lunch program slaughtered stumbling, potentially contaminated cows for four years before undercover video of animal abuse prompted a massive beef recall, federal court filings say. Senate votes to triple foreign aid to Pakistan, House expected to followWASHINGTON — The Senate voted Thursday to triple foreign aid to Pakistan, with lawmakers saying the legislation could change the crisis-driven nature of U.S.-Pakistan relations and create ties based more on long-term interests. Air Force will again try to award $35 billion tanker contract to either Boeing, NorthropWASHINGTON — The Air Force is poised to reopen the competition between rivals Boeing Co. and Northrop Grumman Corp. for a troubled $35 billion tanker contract. Murtha says Air Force’s latest $35 billion tanker contract appears ‘open and less subjective’WASHINGTON — A House Democrat says the Air Force’s latest attempt to award a troubled $35 billion contract for mid-flight refueling tankers appears “open and less subjective.” House to vote to eliminate Medicare Part B premium hikes next year for the few who face themWASHINGTON — With no Social Security cost-of-living increase expected in January, House Democrats want to cancel all of next year’s premium increases for Medicare Part B recipients. Ascent Solar shares rise more than 8 pct on new supply deal with Goal ZeroNEW YORK — Shares of Ascent Solar Technologies Inc. rose on Tuesday on news the solar module maker signed a supply deal with Goal Zero LLC. Pepsi Bottling Group signs distribution deal, invests in natural beverages brand maker O.N.E.SOMERS, N.Y. — Soft drink bottler Pepsi Bottling Group Inc. said Tuesday that it signed a distribution deal with natural beverages brand company O.N.E. (One Natural Experience). Navy awards $60 million cell phone contract to AT&T, Sprint Nextel, VerizonWASHINGTON — The Navy awarded a bundled $60 million contract to AT&T Inc., Sprint Nextel Corp. and Verizon Communications Inc. for nationwide cell phone service, the Pentagon said late Monday. Pakistan official says bomb blast kills 2 people at security checkpoint in country’s northwestPESHAWAR, Pakistan — A Pakistani official says a bomb blast has killed two people at a security checkpoint in the country’s northwest. Pakistan police say they raided US-contracted security firm for illegal weapons possessionISLAMABAD — Police raided a Pakistani security firm that helps protect the U.S. Embassy on Saturday, seizing 70 allegedly unlicensed weapons and arresting two people. The incident follows a series of scandals surrounding American use of private contractors in Iraq and Afghanistan. Fla. treasure hunters will cooperate with British government on famous shipwreck salvageTAMPA, Fla. — Florida deep-sea explorers said Friday that they will work with the British government to salvage artifacts from centuries-old shipwreck of a heavily armed vessel, and the company may continue to make money under the agreement. Attorneys: Corporate official told in July 2008 of alleged misconduct by US embassy guardsWASHINGTON — A top executive of the private security contractor hired to protect the U.S. Embassy in Afghanistan was informed in July 2008 of alleged illegal and immoral conduct by guards, attorneys for a whistleblower suing the company said Friday. American Axle reaches deal with lenders to restructure debt, gets $110 million in help from GMDETROIT — American Axle & Manufacturing Holdings Inc. said Thursday that it reached a deal to restructure its debt and received millions in financial help from General Motors, likely preventing a bankruptcy protection filing at struggling auto supplier. Judge approves Star Tribune reorganization, company to emerge from Chapter 11 by month’s endNEW YORK — A federal judge in New York has cleared the Star Tribune of Minneapolis to emerge from bankruptcy protection by the end of the month. Raytheon gets $22.2 million Navy contract extension for advanced medium air-to-air missileWASHINGTON — Raytheon Co. received a $22.2 million contract extension from the Navy to provide services on the advanced medium air-to-air missile, the Pentagon said late Wednesday. Report: Southwest border fence still delayed and will cost $6.5B to maintain over 20 yearsWASHINGTON — It will cost taxpayers $6.5 billion over the next 20 years to maintain the fence along the U.S.-Mexico border, according to a government audit. |
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