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Exxon Mobil (XOM)
Exxon Mobil Corporation, through its affiliate Esso Exploration Angola (Block 15) Limited (Esso Angola), declared $3.5 million in grants for public health and education programs in Angola.
The ten grants, provided by the ExxonMobil Foundation, are aimed at combating malaria and expanding educational opportunities for women. The grants will be disbursed in partnership with national and international non-governmental organizations.
Dec 29 · 3:52:00 PM · Source: Scandanavian Oil and Gas Magazine
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by Michael Oliveto
Walmart (WMT)
In the largest settlement for a wage-and-hour class-action lawsuit in Massachusetts history, Wal-Mart agreed to pay $40 to all employees who worked for Massachusetts Wal-Mart locations between August 1995 and the settlement date.
The 2001 class-action lawsuit claimed Wal-Mart did not allow workers to have rest and meal breaks, refused to pay overtime wages, and even manipulated employees' time cards to lower their pay. The settlement will pay 87,500 former and current Massachusetts employees and payment will be determined by how many years an employee worked there. The average employee will receive around $734. However, neither party is allowed to comment about the issue.
Dec 29 · 3:48:00 PM · Source: Lawyers and Settlements
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by Michael Oliveto
AT&T (T)
BAF Technologies has received an order to convert 463 Ford E-250 AT&T vans to run on compressed natural gas (CNG).
The order will be fulfilled in the second quarter of 2010, BAF, a wholly owned subsidiary of Clean Energy Fuels Corp., said. “The new orders demonstrate AT&T’s determination to significantly alter its fleet to alternative-fuel vehicles,” said Andrew J. Littlefair, Clean Energy President & CEO.
Dec 29 · 3:40:00 PM · Source: Fleet Owner
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by Michael Oliveto
Procter & Gamble (PG)
Procter & Gamble has introduced its Ariel brand detergent powder in certain markets in the Southwest, targeting immigrants from Latin America.
Ariel USA is sold alongside other P&G detergents such as Tide, Cheer and Gain. But unlike those U.S. brands, Ariel is packaged in bags rather than in boxes. Mexicans are used to buying detergent in bags, a P&G spokeswoman said.
Dec 29 · 2:49:00 PM · Source: Business Courier
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by Michael Oliveto
Pfizer (PFE)
Pfizer Inc. announced that the Food and Drug Administration (FDA) issued a Complete Response letter regarding the company’s New Drug Application (NDA) for Lyrica (pregabalin) capsules CV as a monotherapy treatment for generalized anxiety disorder (GAD). The FDA determined that the data contained in the NDA were insufficient to support approval.
“We are disappointed with the FDA’s decision and will work with the agency to determine next steps,” said Steve Romano, vice president, Medical Affairs Head, Primary Care Business Unit. “Given the chronic nature of GAD and the number of patients who continue to experience anxiety symptoms despite treatment, there is a clear unmet need for new and different treatment options.”
Dec 29 · 2:41:00 PM · Source: Pharmabiz
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by Michael Oliveto
Microsoft (MSFT)
McKool Smith is announcing that the U.S. Court of Appeals for the Federal Circuit today upheld a $290 million verdict and permanent injunction against Microsoft in a Texas patent infringement case won by Toronto-based technology provider i4i Inc.
In its ruling today, the Federal Circuit affirmed the May 20, 2009 jury verdict of $200 million for Microsoft’s willful infringement of an i4i patent covering a document production system that implements what Microsoft has called Custom XML.
Dec 29 · 2:33:00 PM · Source: Open PR
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by Michael Oliveto
Merck (MRK)
Merck recently informed its partner Arena Pharmaceuticals that it was pulling out of a collaboration agreement pertaining to the development of an atherosclerosis drug.
The decision by Merck to discontinue the development of the candidate, MK-1903, a niacin receptor agonist for treating atherosclerosis, followed disappointing results from a recently completed mid-stage study.
Dec 29 · 2:31:00 PM · Source: Benzinga · Related: Arena Pharmaceuticals Inc.
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by Michael Oliveto
J.P. Morgan (JPM)
JPMorgan Chase & Co sold $4 billion (Dh14.69 billion) of notes in the only US corporate bond offering last week.
Sales compare with $17.5 billion the previous week and bring total monthly issuance to $56.6 billion, in line with the $55 billion average since 2000, according to data compiled by Bloomberg. New York-based JPMorgan's 13-month extendible notes, which have a final maturity of five years, marked the second time the bank sold dollar-denominated debt this month. The issue from JPMorgan, the second-largest US bank, brought 2009's total volume to a record $1.24 trillion as borrowers took advantage of low interest rates to refinance debt after being locked out of the bond market during last year's financial crisis. The previous record was $1.17 trillion in 2007.
Dec 29 · 2:22:00 PM · Source: Gulf News
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by Michael Oliveto
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