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ConocoPhillips (NYSE:COP) is facing a lawsuit filed by a group of Chinese fishermen, filed in the U.S., regarding an oil spill in China in 2011. This may bring back legal worries months after ConocoPhillips believed the issue was settled. The lawsuit does not make monetary damages sought explicit, but blames the oil company for spills at offshore production platforms it manages in China’s Bohai Bay.
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General Motors‘ (NYSE:GM) Chinese auto sales climbed 10.1% Y/Y to 213,945. The company’s growth was driven by increased efforts by its joint-venture partners in China to get to customers in the interior provinces.
Melco Crown (NASDAQ:MPEL) issued a memo of agreement with Belle Corp. to proceed with work on a $1B casino-hotel project in the Philippines. The companies plan to finalize the MOA with a settled agreement within the next two months.
Sony (NYSE:SNE): A “super slim” PlayStation 3 model will be in stores soon, according to evaluation of documents filed by Sony with the FCC. Known as the 4000 series, the new PS3 model would be available for sale merely a year prior to the expected shipment of a next-gen PlayStation. PS3 sales dropped considerably thanks to the platform’s age and significant competition from the Xbox 360 (NASDAQ:MSFT).
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