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The Boeing Company (NYSE:BA) says that the union representing its engineers and technicians has recommended that members reject its proposed new contract, that contains a new offer which was outlined last week. This development has increased tensions with management prior to the current arrangement’s expiration on October 6th, according to the Wall Street Journal.
Bank of America Corporation (NYSE:BAC) was paid approximately 20 percent more in 2011 by Fannie Mae (FNMA.OB) than was contractually obligated, for the transfer of the servicing of troubled loans to another firm, according to a report by the inspector general for the Federal Housing Finance Agency, says Reuters.
Cisco Systems, Inc. (NASDAQ:CSCO): It is anticipated that Non-Apple (NASDAQ:AAPL) tablet makers are will reduce their prices to between $150 and $200, from the current range of $199 to $400 prior to the 7.85-inch iPad, according to industry sources to DigiTimes. Further, Apple’s new iPad should have a big impact on the tablet market, and makers will need to decrease their prices to remain competitive.
Chevron Corporation (NYSE:CVX): On Tuesday, the price of oil dropped again on the speculation that the United States’ economy might slow more, decreasing demand for fuel, says Bloomberg. Oil futures dropped as much as 0.7 percent in New York, to further reinforce Monday’s 2.4 percent decline. Prices for crude fell more than $3 yesterday, in the face of looming expirations of October options.
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