Microsoft, riding a hit with its Windows software, will invest millions of dollars in new products and services and add more than 2,300 employees in the next year, the firm told financial analysts.
Chrysler and Fiat may announce Tuesday a long-rumored agreement that could cover anything from a joint marketing agreement to a full-fledged merger, Financial News Network said.
The GAO told Congress it isn't prepared to endorse a Treasury plan to ensure the financial strength of such government-sponsored enterprises as Fannie Mae, Freddie Mac and Sallie Mae by making them maintain triple-A credit ratings.
Westinghouse has lost its bid to provide "people-mover" trains for a new international airport near Osaka, Japan. U.S. officials have viewed its $52 million bid as a litmus test of foreign access to Japan's construction market.
McDonnell Douglas had its subordinated debt, commercial paper and shelf registration downgraded by Moody's Investors Service, which cited McDonnell Douglas's "weakening cash flow and liquidity due to its difficulties in its commercial aircraft operations and the deteriorating outlook for its defense business."
President Bush decided against intervening in the Japanese firm Nippon Sanso's planned acquisition of Semi-Gas Systems, a Hercules subsidiary that makes equipment used in manufacturing semiconductors, the White House announced.
Electronic Data Systems won a contract to provide computer systems and services to the Army, Navy and Defense Logistics Agency. The contract runs for eight years in one-year increments and, depending on orders, could be worth $700 million.
Harris Corp. said it plans to trim about 250 jobs from its semiconductor sector work force in Florida, North Carolina and New Jersey as part of an effort to restructure operations after its 1988 acquisition of GE Solid State.
Mortgage rates were mixed this week. The 30-year fixed mortgage rate dipped to an average of 9.98 percent from 9.99 percent while one-year adjustable-rate mortgages edged up to 8.41 percent from 8.39 percent, the Federal Home Loan Mortgage Corp. said.
Mack Trucks said that Navistar International Transportation has indicated it may make a bid at $7 or more a share to compete with Renault's $6-a-share offer for the Mack shares it doesn't already own.
The Housing Banking Committee will investigate the Treasury's use of government funds for intervention in currency markets and for the funding of its Third World debt plan, Chairman Henry B. Gonzalez (D-Tex.) said.
Aetna Life & Casualty said its second-quarter profit rose 20 percent.