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Alcoa, Inc. (NYSE:AA) says on Friday that it intends to operate the Point Henry aluminium smelter in Australia until mid 2014 at the minimum. The aluminium smelting industry in Australia continues to experience serious economic difficulties, which has put the future of the smelter in jeopardy, and it has been under review since February. In response, the firm says, “We set a challenge to find significant savings. We now need to implement the opportunities identified along with some structural changes that will see workforce reductions of about 10 percent wherever possible these reductions will be voluntary.”
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Caterpillar Inc. (NYSE:CAT): The compromise transportation funding legislation is being strongly opposed by two conservative groups in Congress, which is expected to vote on the measure late Friday, says The Hill. The outcome of the long embattled bill is in doubt again, and even provisions that would prevent interest on student loans from doubling starting July 1st are in danger.
Cisco Systems, Inc. (NASDAQ:CSCO) introduces its Cisco Connect Cloud, which provides a software platform which could redefine how consumers interact with connected devices in the home, and also sets up a new environment for the development of third-party applications. The Cloud is designed to work jointly with Cisco’s new line of Linksys Smart Wi-Fi Routers.
Walt Disney Co. (NYSE:DIS): Hulu comments on its blog that, “We have entered into a multi-year agreement with HBO to bring Japanese entertainment fans some of the most compelling American TV programming ever produced. Select HBO shows, including Sex And The City and The Sopranos, will be available to Hulu subscribers in Japan starting today, with additional HBO hit shows such as Entourage and Band of Brothers coming later this year.”.
Hewlett-Packard Company (NYSE:HPQ) reported Friday that an HP Utility Services solution has been chosen by the French automaker Renault S.A., to support the development of innovative new telematics services for its electric cars. Renault is the world’s fourth-largest automotive group and is a top mover in zero emission transportation, thanks in part to its alliance with Nissan.
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