IBM BOOSTS Presence in Russia and 4 Dow Drivers Ignite Interest
EI DuPont de Nemours & Company’s (NYSE:DD) Pioneer Hi-Bred division is being sued by Monsanto (NYSE:MON) concerning patent infringement allegations on its “seed chipper” tech. The court is being requested to compel Pioneer to cease the use of the technology and stop selling any products developed through it, according to STLToday.com., which cited court documents.
General Electric Co. (NYSE:GE) reports that it has finalized a commercial alliance agreement with Norway-based Sargas AS, to supply a gas turbine for among the world’s first gas-fired plants that has an integrated carbon capture for enhanced oil recovery. The Sargas plant will integrate a configuration of GE’s existing LMS100 aeroderivative gas turbine package with Sargas’ patented combustion and carbon-capture technology which permits low emissions power generation. The technology that Sargas supplies captures carbon dioxide at pressure, which allows lower capital investment costs and can be built quickly with current or slightly modified subsystems and equipment.
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International Business Machines Corp. (NYSE:IBM) plans the opening of ten new branch offices across Russia and the Commonwealth of Independent States, as a part of its strategy to grow its footprint in one of the most rapidly growing markets on earth. The company will add an incremental investment of $6 million in that area in 2012, which should expand its presence there to 22 offices. In addition, IBM intends to double its staff in that part of the world by year’s end, to also to reinforce its business partner network across the area to more than 4,000 partners.
JPMorgan Chase & Co. (NYSE:JPM) CEO Dimon might find it a trickier business when he faces the United States House Financial Services Committee on Tuesday, than he did at his second congressional hearing earlier in June. Dimon must try to explain how his company lost at least $2 billion on trades to an audience which will likely be quite skeptical.
The Coca-Cola Company (NYSE:KO) stays optimistic regarding its prospects while its shares are at their highest level since the 1990s, as sales and margins soar, says the Wall Street Journal. Not even the New York mayor’s War On Sodas is taking the bloom off this rose, as Coke continues to cut costs, and relieves PepsiCo (NYSE:PEP) of its market share, while investing hugely in such emerging markets as Brazil and China.
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