BUSINESS NOTES COLLABORATION SET ON SHIPS' MOTORS.WOODLAND HILLS - Litton Industries Named after inventor Charles Litton Sr., Litton Industries was a large defense contractor in the United States, bought by the Northrop Grumman Corporation in 2001. Inc., through its Litton Ship Systems group, and American Superconductor American Superconductor is a technology company based in Westborough, Massachusetts specializing in the design and manufacture of superconducting wires and power converters. It is listed on Nasdaq under the symbol AMSC. Corp. announced Wednesday an agreement to collaborate in the use of high temperature semiconductor technology for commercial and naval ships. The initial focus of the collaboration will be the application of HTS HTS Heights HTS Harmonized Tariff System HTS High Throughput Screening (biomolecular assay screening) HTS High-Throughput Screening (Pharmaceutical Industry) HTS Harmonized Tariff Schedule motors for ship propulsion. Lawrence Cavaiola, vice president of Litton Ship Systems, said the HTS motors will propel ships more efficiently and quietly, and that will create more usable space on board ships. - Daily News Nasdaq suffers quote system bug WASHINGTON - The Nasdaq stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. said Wednesday its automated quote system had a failure around 3:40 p.m. EST that prevented market makers from updating and viewing stock prices. The cause of the outage was not immediately known and was being investigated, Nasdaq said. The quote system was restored in stages just before the 4 p.m. market close and after-hours trading after-hours trading The trading of securities after the exchanges are closed. After-hours trading often refers to trading a listed security in the over-the-counter market after the exchanges have been closed for the day. was operating normally. - Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Heinz settles suit over underfilling H.J. Heinz Co. has agreed to settle a consumer protection lawsuit that accused the company of underfilling containers of certain ketchup products. In a stipulated final judgment filed Wednesday, the Pittsburgh-based food manufacturer agreed to overfill o·ver·fill v. o·ver·filled, o·ver·fill·ing, o·ver·fills v.tr. To fill (something) to overflowing. v.intr. To become too full. its Heinz ketchup containers by at least 1 percent throughout California for the next year, at a cost of about $650,000, and pay $180,000 in civil penalties and costs. State and local weights and measures weights and measures, units and standards for expressing the amount of some quantity, such as length, capacity, or weight; the science of measurement standards and methods is known as metrology. officials throughout California began an investigation five years ago that identified numerous underfillings of ketchup bottles, prosecutors said. Officials estimated the underfillings at .5 to 2 percent or more per bottle, or 10 million ounces statewide, a cost to consumers of more than $500,000, said Thomas A. Papageorge, who heads the Los Angeles County District Attorney's Consumer Protection Division. - City News Service Cherokee in deal on Pritikin brand VAN NUYS - Cherokee Inc. announced Wednesday it signed an exclusive agreement to represent the Pritikin brand and engineer strategic licensing agreements for its U.S. expansion. Founded in 1976, Pritikin Enterprises produces nutritional and lifestyle products and programs. - City News Service Tires from recall to be preserved INDIANAPOLIS - Bridgestone/Firestone Inc. has agreed to preserve a certain number of its recalled and returned tires as potential evidence in lawsuits against the company, an attorney in the cases said Wednesday. - Associated Press |
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