Dow Jones 30 Week in Review: Coca-Cola’s Green Deal with JBF, Wal-Mart Expands in Japan

Here’s your Cheat Sheet to the week in Dow 30 business news:

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Bank of America Corporation (NYSE:BAC) intends to eliminate some 40 jobs at its global markets division in Asia, according to an inside source, who added that the reductions are not a part of the Project New BAC program which was announced in 2011 to cut back expenses. Shirley Wong, who is based in Hong Kong and is a spokeswoman for the company, declined to comment.

Cisco Systems, Inc. (NASDAQ:CSCO) Chief Executive John Chambers, who is expected to step down in the next two to four years, has identified candidates that he and the board are think could be possible successors, according to Bloomberg. Some of the persons included in the group are the Chief Operations Officer Gary Moore, Executive Vice President Robert Lloyd of worldwide operations, Senior Vice President Chuck Robbins of the Americas, and Senior Vice President Edzard Overbeek of global services.

Chevron Corporation (NYSE:CVX) reports that its subsidiary Chevron (SL) Ltd. has been awarded participation in two deepwater blocks that are located offshore Sierra Leone. The two blocks, SL-08A and SL-08B, have been joined into one concession and are between 75 and 110 miles southwest of Freetown, and cover a combined area of approximately 2,100 square miles. The new blocks have average water depths ranging between 4,900 and 9,800 feet. Under the terms, Chevron (SL) Ltd. will become the operator with a 55 percent interest, with Noble Energy holding 30 percent, and Odye (SL) Ltd. with 15 percent.

General Electric Company’s (NYSE:GE) power Conversion unit will provide its ecomagination-qualified Quadramatic drive tech to Grupo Mexico in support of its Buenavista copper mining operation expansion in Sonora state, which is Latin America’s biggest ball mill operation. Grupo Mexico will use GE’s synchronous motor tech to contribute 84 megawatts of power at six Buenavista ball mills. GE’s equipment will be transported and installed during the first three quarters of 2013, and commercial operation of the equipment will be phased in beginning in the second quarter.

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Verizon Communications (NYSE:VZ) For years, companies have been restricted to no more than one-third of the available spectrum in a territory by the Federal Communications Commission. On Friday, the agency will initiate a process to redraw, reconfigure or perhaps remove its existing rules, according to The New York Times. Additionally, the FCC will discuss rules for auctioning off newly reclaimed airwaves, and the staff is said to have circulated its proposals to the five-member commission, but possible outcomes will not be aired before the Friday meeting.

Exxon Mobil Corporation (NYSE:XOM): Total S.A.’s (NYSE:TOT) Chief Executive Christophe de Margerie has explained to The Financial Times that the risk of an oil spill in the environmentally sensitive Arctic was too high to justify offshore exploration, which is the first time that a top oil player has publicly spoken out against such activities there. The company is among others such as Royal Dutch Shell (RDS.A), Exxon Mobil, ENI S.p.A (NYSE:E) and Statoil ASA (NYSE:STO) with deals to explore for oil in Alaska’s or Russia’s parts of the Arctic Ocean.

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Merck & Co. Inc. (NYSE:MRK) will return the world marketing and development rights for both the intravenous and the oral formulations for vernakalant to Cardiome Pharma Corporation (NASDAQ:CRME). Vernakalant IV is marketed in certain countries under the brand name Brinavess; the drug was approved in the European Union on September 1, 2010 for the rapid conversion of recent onset atrial fibrillation to sinus rhythm in adults, for non-surgery patients with AF of fewer than seven days and for post-cardiac surgery patients with AF of fewer than three days. At the current time, Vernakalant IV is not approved for use either in the United States or in Canada.

Microsoft Corporation (NASDAQ:MSFT) will be charged in the European Union for failing to comply with a 2009 ruling which required that it offer a choice of web browsers, said the European Commission’s antitrust chief on Thursday. An unfavorable ruling might lead to a huge fine for the firm.

Pfizer Inc. (NYSE:PFE) reports that its commercialization partner Protalix BioTherapeutics, Inc. (AMEX:PLX) has been awarded marketing authorization from the Israeli Ministry of Health for Elelyso for injection. The drug is an enzyme replacement therapy for the long-term treatment of adults suffering from Type 1 Gaucher disease. The medication will be marketed in Israel by Protalix Ltd., which holds of all marketing rights to Elelyso in the Israeli market. This represents the second marketing approval of Elelyso, which was okayed by the FDA on May 1, 2012. Pfizer markets the drug in the United States.

Procter & Gamble Co. (NYSE:PG) Chief Executive Robert McDonald’s job might be in jeopardy should the cost reductions and product-refocus plans he announced not bring results, say inside sources to the Wall Street Journal. Earlier in September, McDonald met with the hedge fund manager William Ackman, who threw 75 pages of complaints about his three years running the company at him. Ackman’s Pershing Square Capital Management LP bought $1.8 billion worth of P&G stock in June and July and his message to the company is that McDonald should be removed from his board-chairman position and that P&G should search for a new chief executive.

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JPMorgan Chase & Co. (NYSE:JPM): During the current quarter, worldwide mergers and acquisitions have fallen to a level unseen since the aftermath of the financial crisis and seem to be due to increasing concern that the economic recovery is deteriorating. Since June 30th, firms have reported $446 billion in takeovers, which represents the smallest amount since the third quarter of 2009, says Bloomberg data. Acquisitions are on track to fall 15 percent this year to $2 trillion, which would be the lowest in three years.

The Coca-Cola Company (NYSE:KO) has formed a partnership with JBF Industries through which further expansion of output of the plant-based material that is employed in the firm’s PlantBottle packaging may be obtained. The supply linkup will help Coca-Cola retain its leadership in bringing renewable, lower-carbon plastics to market and to move to its target of using PlantBottle packaging tech in all of its plastic bottles by the year 2020. JBF Industries will construct the world’s biggest facility to produce bio-glycol in Araraquara, Sao Paulo, utilizing local sugarcane and sugarcane processing waste.

McDonald’s Corporation (NYSE:MCD) launches its custom-made M channel, which is a TV channel intended to offer exclusive content to entertain customers, says The New York Post.

3M Company (NYSE:MMM) and Ivoclar Vivadent have resolved a patent lawsuit in Germany over a processed zirconia coloring technology. Through the terms, Ivoclar Vivadent will license this patented tech from 3M; the technology permits the coloring of unshaded zirconia by color-matching dental restorations to the natural color of patients’ teeth. 3M developed and introduced this tech and much of the industry now colors unshaded dental zirconia using this process. For its part, 3M is open to licensing this tech to other interested parties.

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The Walt Disney Company (NYSE:DIS) has seen the dominance by Viacom Inc.’s (NYSE:VIA) Nickelodeon network over its Disney Channel disappear recently. Nickelodeon is a crucial profit center for Viacom; the latter is now gambling that new programs such as a redux of the Teenage Mutant Ninja Turtles franchise might help its ratings performance to rebound, according to The Los Angeles Times.

General Electric Company’s (NYSE:GE) NBCUniversal, along with Comcast Cable (NASDAQ:CMCSA), HBO, and Cinemax (NYSE:TWX) are all partnering with Zeebox in a premier endorsement of a universal, cross-channel TV viewing companion application for iPhone, iPad, iPod Touch, Android, and the Web. On Thursday, Zeebox introduced its highly anticipated experience in the United States, which is said to be a significant debut; additional partners are expected to be invited in time.

Hewlett-Packard Company’s (NYSE:HPQ) shares are up in mid-day trading despite Jefferies’ downgrade from Hold to Underperform earlier Thursday. Analyst Peter Misek expressed worries that the firm’s fiscal 2013 guidance might well miss consensus; results could come either at H-P’s analyst meeting on October 3rd, or as part of its next earnings release. Further, Misek noted that the firm seems set to make a push into tablets and smartphones, which entails a high risk but does make sense from a strategic point of view. The analyst foresees tough going for H-P’s personal computer, service and printer units, and does not believe that the intro of Microsoft Corporation’s (NASDAQ:MSFT) Windows 8 will help perk up shares. Misek reduced the price target from $17 to $14 as well. And if that is not enough, JPMorgan remarked in its own note to investors Thursday that Hewlett-Packard faces near-term challenges and it expects that the firm’s fiscal year 2013 outlook could push consensus earnings estimates to under $4.00. First Call currently has earnings per share for that period at $4.20.

Intel Corporation (NASDAQ:INTC) Chief Executive Paul Otellini recently met with Acer executives in Taipei concerning the smartphone business, say sources to DigiTimes, who added that Otellini had hoped to persuade the supplier to release Intel-based entry-level or mid-range smartphones and also to expand the division via the a three-way partnership, but Acer will likely continue to concentrate on the PC business.

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Alcoa, Inc. (NYSE:AA) and Queensland Nitrates receive free carbon permits from the government of Australia through a $8.9 billion program to aid businesses that face worldwide competition and are the first firms to do so, according to Bloomberg.

The Boeing Company’s (NYSE:BA) allegedly illegal subsidies from the United States government have prompted the European Commission to ask the World Trade Organization for the right to impose annual trade sanctions worth $12 billion on the U.S. in retaliation, says Reuters. For its part, the United States has said that it met a compliance deadline that expired last Sunday which the European Union turned down.

Bank of America Corporation’s (NYSE:BAC) Merrill Lynch unit lost $10 million that was connected to stock options, according to the Wall Street Journal, which added that the reignited debate over an options-trading strategy has provoked controversy. The loss came from the bank’s failure to properly execute a so-called dividend trade, which showcases the risks involved. Some option watchers and exchanges contend that the dividend trades swell market volume but do not provide much benefit to the industry.

Chevron Corporation (NYSE:CVX): Seneca Resources, which is a wholly-owned exploration and production subsidiary of National Fuel Gas Co. (NYSE:NFG), has provided an update on recent well results within the Marcellus Shale. Further, Seneca reported a pending farm-in arrangement on properties that are located near its existing crude oil assets in California, along with its initial entry into the Mississippian Lime crude oil site in Kansas. In the Marcellus Shale, Seneca has brought on three additional wells on its property in Lycoming County, Pennsylvania, with peak 24-hour output rates of 13.4, 14.9 and 11.3 MMcf per day. In the Utica Shale, Seneca has recently completed two horizontal bores. At the present time, both Utica wells are shut-in for a period of 60 days and it is anticipated that they will commence production in November. In California, the company has made an agreement in principle with Chevron for a portion of the latter’s assets in the East Coalinga Field, from which Seneca would gain operatorship of the field early next year while Chevron would retain a royalty on incremental development and full interest in the existing output. Additionally, Seneca has recently set up a new position within the Mississippian Lime crude oil play with about 9,300 net acres in Pratt County, Kansas.

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Hewlett-Packard Company (NYSE:HPQ) may soon be passed up in its position as the number one PC maker in the world by volume by Lenovo Group (LNVGY), which is poised to take the spot. In addition, the latter is said to be getting ready to target Apple (NASDAQ:AAPL) and Samsung (SSNLF) in the Chinese smartphone and tablet markets, says a report in China Daily.

International Business Machines Corporation (NYSE:IBM) will soon launch a new product that should simplify the manner by which companies manage and analyze large amounts of data, say unnamed sources to All Things D.

Johnson & Johnson’s (NYSE:JNJ) Janssen-Cilag International NV reported that the European Commission has okayed the marketing authorization for Dacogen for the treatment of adult patients 65 and above with newly diagnosed de novo or secondary acute myeloid leukaemia who are not candidates for standard induction chemotherapy. Additionally, Dacogen holds Orphan Drug designation for the treatment of AML.

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The Boeing Company (NYSE:BA) reports in an interview with CNBC that the 787 is proving to be very fuel efficient.

Bank of America Corporation (NYSE:BAC) says that it, along with certain of its current and former officers and directors, agrees subject to court approval to resolve a class action lawsuit that was brought in 2009 on behalf of investors who bought or held Bank of America securities at the time at which the firm announced plans to purchase Merrill Lynch. Through its terms, Bank of America would pay an amount of $2.43 billion and also set in place certain corporate governance policies.

Chevron Corporation (NYSE:CVX) and Transocean (NYSE:RIG) have been ordered to cease their operations in Brazil, according to the Wall Street Journal. The firms now have 30 days in which to halt their operations after a local court served them with an injunction for their roles in an offshore oil spill in 2011.

The Walt Disney Company’s (NYSE:DIS) ESPN network would be left out of DISH Network’s (NASDAQ:DISH) plans to offer an internet streaming pay-TV service of limited channels, says The New York Post. The news follows an earlier Bloomberg report that DISH has begun discussions with Viacom (NYSE:VIA) and Scripps Networks Interactive (NYSE:SNI) over the matter.

JPMorgan Chase & Co. (NYSE:JPM): Instead of reflecting banks’ borrowing costs as they is supposed to do, a Wall Street Journal analysis indicates that the submissions by banks that are used to figure Libor are typically slow in changing and often do not track the market’s view of the credit risk that each company poses. The results imply that even years subsequent to traders at several banks trying to manipulate Libor, things still are not right with the index which prices approximately $300 trillion of financial contracts.

Microsoft Corporation’s (NASDAQ:MSFT)’s Windows 8 operating system will be run in Nokia Corporation’s (NYSE:NOK) new Lumia 820 and 920 devices which will be introduced in November in important European markets, according to the Wall Street Journal.

AT&T (NYSE:T) Mississippi’s $100,000 grant to two private schools in the state should give students additional resources through which to succeed. The schools, New Summit School and North New Summit School, are both under the auspices of the private group New Learning Resources School District and received the donation which should help New Learning Resources supply programming to encourage the schools’ 100 students to not drop out.

Verizon Communications’ (NYSE:VZ) Verizon Wireless reported on Friday that Corina Perez of Chicago won the grand prize in its My Fabulous Quince essay contest. The largest number of online and text message votes went to Perez among all of the semi-finalists. She will thus receive a college scholarship, four smartphones and Verizon gift cards along with an all-expenses-paid quinceanera for up to 100 guests which will include a special performance by one of the most acclaimed, award-winning Latin urban artists of all time, Daddy Yankee.

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Wal-Mart Stores (NYSE:WMT), for the first time since 2008, moves forward in Japan with an expansion as rises in the numbers of working poor and pensioners on fixed incomes induce a pattern towards thrift there. The company plans 22 new stores in that country during the next two years, according to the Wall Street Journal.

Exxon Mobil Corporation (NYSE:XOM): Firms in Australia that are exploring for oil and natural gas in shale rock in the United States and in Canada are valued at a median of 11 times their reserves which represents a 23 percent discount to their competitors listed on stock exchanges in North America, says Bloomberg data. RBS Morgans Ltd. believes that the valuation gap could lure suitors to potential targets such as Antares Energy Ltd. (AZZEF), Molopo Energy Ltd., Sundance Energy Australia Ltd., and Red Fork Energy Ltd.

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