DJIA Week in Review: Wal-Mart Preps India Debut, Boeing Sees Resilience in Air-travel
Chevron Corporation’s (NYSE:CVX) recent preliminary deal with YPF (NYSE:YPF) could bring the company legal problems as Repsol (REPYY) has filed a suit at the World Bank’s arbitration tribunal, seeking $10.5 billion from Argentina for its expropriation of 51 percent of YPF, says The Financial Times. Repsol has also promised legal action against any firms partnering with YPF through which to develop what it considers its assets.
E.I. DuPont de Nemours & Co. (NYSE:DD): Indications are being seen that lawmakers are making “real progress” on passing a farm subsidies bill before the end of 2012, says Politico. A meeting of the top agricultural leaders in both houses seemed to accomplish some things and price supports backed by farmers in the South are likely to be included in the bill as well.
The Walt Disney Company (NYSE:DIS) says that it’s Walt Disney’s birthday. The creator of Mickey Mouse and celebrated animator would have turned 111 on December 5th were he still living. Born in 1901 in Chicago, Disney remains one of America’s most iconic filmmakers.
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Wal-Mart Stores (NYSE:WMT) prepared its debut into India’s supermarket sector in 2010 with a $100 million investment in the consultancy Cedar Support Services, which had no employees, profits and only $14,000 in revenue. Now, the Cedar investment is the center of an inquiry by India’s financial crimes watchdog as to whether Wal-Mart broke foreign direct investment rules by placing money into a retailer prior to the government opening the sector up to world companies, according to Reuters.
General Electric Company’s (NYSE:GE) GE Energy Financial Services has sold the Delaware Valley Resource Recovery Facility in Chester, Pennsylvania to Covanta at the price of $94 million in cash. The deal includes the purchase of about $122 million cash collateral trust and the assumption of $64 million in facility project debt principal. The Delaware Valley facility, which Covanta operates and had previously leased from GE EFS, has a processing capacity of around 2,700 tons per day, supplying sustainable waste management services to Delaware County and its surrounding communities. The approximately $122 million cash collateral trust will be reflected as restricted cash on Covanta’s balance sheet and will be used through 2019 to service project debt and to make cash distributions to the firm and will also be immediately accretive to adjusted EBITDA, free cash flow, and adjusted EPS.