The Boeing Company (NYSE:BA) has released the following statement in regards to the actions that the Office of the United States Trade Representative announced Monday concerning the World Trade Organization’s ruling in March on subsidies to the domestic aerospace sector. “Boeing fully supports the actions the U.S. government announced that it has taken to address the relatively small amounts of subsidy that the World Trade Organization identified as inconsistent with its rules. The United States has now complied with the WTO ruling. Unfortunately, the same cannot be said of Airbus and its government sponsors, which have thumbed their noses at the WTO. Despite a crystal clear ruling against launch aid subsidies, European governments have continued the practice by providing Airbus with billions of taxpayer euros and pounds for its next new product, the A350. What is more, the European governments have yet to remove the very substantial subsidies, including those propping up the A380, which the WTO’s ruling in June of last year requires them to do. The illegal subsidies to Airbus, most importantly the pernicious, market distorting practice of launch aid, must stop. The U.S. government remains committed to ending these subsidies, and Boeing fully supports the actions the U.S. government has taken to ending them.”
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Bank of America Corporation (NYSE:BAC): Merrill Lynch, Pierce, Fenner & Smith Inc. have been censured and fined $500,000 by the Financial Industry Regulatory Authority for supervisory failures which permitted widespread deficiencies in the filing of hundreds of required reports, among which included arbitration claims, customer complaints, and related U4 and U5 filings, along with failure to file the required reports. The violations went undiscovered for several years, and might have hampered investors’ ability to assess the background of certain brokers through BrokerCheck, which is FINRA’s public disclosure program. In addition, they also may have reduced the ability of securities regulators to review brokers’ transfer applications, compromised company’s abilities to conduct background checks when making hiring decisions, and hindered the authority from promptly investigating certain disclosure items. In finalizing the settlement, Merrill neither admitted nor denied the charges, but instead consented to the entry of authority’s findings.
The Walt Disney Company (NYSE:DIS): WWE has reached an exclusive, multi-year contract that will bring WWE programming to Hulu Plus, beginning Monday. Hulu Plus will now offer WWE fans additional content, unlimited instant streaming access, and programming on-the-go, as it becomes the exclusive site for next-day access to all WWE TV programming.
General Electric Company’s (NYSE:GE) GE Oil & Gas reports that it will provide its gas turbine-driven compressor train tech to Petronas, Malaysia’s national oil and gas company, to be used by a floating liquefied natural gas facility which is being established off the coast of that country. The start-up of the facility is scheduled for the fourth quarter of 2015. It will be moored approximately 180 kilometers off the coast of Bintulu, Sarawak, and is designed for a potential output of 1.2 million tons per year of LNG.
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