Boeing Co. (NYSE:BA): Senate Majority Leader Harry Reid (D – NV) says that two items included in a previous Senate bill should be employed to obtain the revenue needed to prevent interest rates on student loans from doubling, reports The Washington Post. The measures were included in a highway bill that passed the Senate but is blocked by Republicans in the House, and would decrease the number of tax deductions that businesses may take on their pension liabilities, but raise the premiums that companies pay for federal pension. The report adds that a spokesman for Republican Senate Minority Leader Mitch McConnell said his party would study the proposal.
Investing Insights: Are Americans Really More Wealthy?
In the Green:
Bank of America Corporation (NYSE:BAC): A couple of non-profit groups have found that banks have significantly raised their overdraft charges on checking accounts during the past two years, according to a Washington Post report. In 2009, the Fed told banks to keep their customers posted on their overdraft fees, but often such disclosure statements have been ambiguous and hard to follow, say the groups.
Caterpillar Inc. (NYSE:CAT): China Daily is reporting that China will modify its trade tariffs, plus supply monetary incentives, in order to increase its imports. This word comes from the Vice Premier.
EI DuPont de Nemours & Co. (NYSE:DD) will acquire the assets of BAE Systems (BAESY), that comprise its BAE Systems Tensylon High Performance Materials business, for a cash consideration of $18 million. The unit develops and produces a protective material trademarked Tensylon, which possesses both ballistic armour and commercial applications. This transaction should close in the third quarter.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.