Up to $1 billion of federal money earmarked for the space-shuttle replacing “space taxis” may be awarded to Boeing (NYSE:BA) and privately held Space Exploration Technologies. The taxis, to be commercially owned, will transport crews into orbit.
The WSJ reports fresh insight into the massive trading loss at JPMorgan (NYSE:JPM). It appears “London whale” Bruno Iksil reported higher valuations on some of his trades, compared to the true market position, at the repeated prodding of ormer JPMorgan exec Javier Martin-Artajo. The valuations escaped notice of the bank’s oversight group, as they were within an overall band, and therefore approved.
Siemens (NYSE:SI) has commenced a stock buyback program approved at its annual meeting in January 2011. The 3 billion euro buyback will be utilized by the company to extinguish stock, employees’ compensation and for bonds. About 33 million treasury share,s valued 2.23 billion at yesterday’s closing price, are also being cancelled by Siemens.
Vivendi’s plans to offload a 60 percent stake in computer gaming company Activision Blizzard (NASDAQ:ATVI) may have to be scrapped given that no viable offers were received as buyers were probably deterred by the high $13 billion valuation tag for Activision, despite its Q2 earnings beat. Vivendi may instead sell Brazilian broadband operator GVT after it completes its review of businesses.
The Libor affair takes Bank of America (NYSE:BAC) within in its fold as the bank confirms having received requests for information from both U.K. and U.S. regulatory authorities about its setting of rates. Bank of America, along with other banks, has also been sued by investors over the scandal. In other hits, Q3 will see a charge of $800 million due to a fall in the U.K. tax rate; it will also have to pay up $738 million for its settlement of the credit card charge fixing issue in the U.S.
Don’t Miss: Apple’s iPad is A Growth ANIMAL.