3M Company (NYSE:MMM) will continue its involvement in China’s photovoltaic solar industry and intends to spend around $120 million on research and development there during the next five years, says China Daily. President of 3M China Region and Chief Executive of 3M China, Kenneth Yu, says that the firm’s annual sales in China should surpass those in the United States in 5 to 10 years.
Microsoft Corporation (NASDAQ:MSFT) and Lockheed Martin (NYSE:LMT) have won a $9.8 million contract to migrate the Environmental Protection Agency to Microsoft Office 365, which is a cloud-based collaboration and communication service. This new system should save around $12 million over the four-year contract. Through its terms, about 25,000 users of EPA e-mail will be moved to Office 365 for Government, with the primary migration set to be completed early next year.
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AT&T’s (NYSE:T) U-Verse and Time Warner Cable (NYSE:TWC) have reached terms through which the latter reached its third distribution deal in two days for its new Los Angeles regional sports networks, according to The Los Angeles Times. This latest arrangement for the new television headquarters of the Lakers follows recent agreements with Charter Communcations (NASDAQ:CHTR) and Verizon (NYSE:VZ).
The Travelers Companies (NYSE:TRV) reports on Wednesday that the cost of Hurricane Sandy is likely to amount to more than $20 billion. That total could include insured losses of approximately $7 billion to $8 billion, with much of the remainder to be shared by cities and states through which to repair infrastructure, the hazard-research firm Kinetic Analysis Corp. told Bloomberg.
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