BUSINESS NOTES COUNTRYWIDE ENDS LATEST ACQUISITION.CALABASAS - Financial service provider Countrywide Credit Industries Inc. said Friday that it has completed the acquisition of Treasury Bank through its financial holding company subsidiary, Effinity Financial Corp. The announcement comes just weeks after Countrywide received approvals from the Office of the Comptroller of the Currency The Office of the Comptroller of the Currency (or OCC) was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and the federal branches and agencies of foreign banks in the United States. and the Federal Reserve Board to become a bank holding company and a financial holding company. The new banking entity will offer a full array of depository products through multiple distribution channels that will emphasize the Internet, company officials said. - Daily News Film Roman tells partner deal's off NORTH HOLLYWOOD - Film Roman Inc., an animation and television production company best known for making ``The Simpsons,'' said Friday that it has formally notified Pentamedia Graphics Pentamedia Graphics Limited is a graphics, multimedia solution and animation company in India. The company is engaged in enterprise as well as open source multimedia solution. Ltd. of being in material breach of the stock purchase agreement and memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. between the two companies. Film Roman said it has terminated the transaction between the parties in light of Pentamedia's inability to cure the material breach. Under the stock purchase agreement, India-based Pentamedia was to acquire a 60 percent stake in Film Roman through the purchase of newly issued common stock of Film Roman in exchange for $15 million. Film Roman now plans to seek other strategic alliances and financing sources that it was not free to pursue under the restrictions imposed by the stock purchase agreement. - Daily News Bid not complete, shipbuilder says Century City-based Northrop Grumman Northrop Grumman Corporation (NYSE: NOC) is an aerospace and defense conglomerate that is the result of the 1994 purchase of Grumman by Northrop. The company is the third largest defense contractor for the U.S. Corp. has not provided enough information about its $2.1 billion bid to buy Newport News Newport News, independent city (1990 pop. 170,045), SE Va., on the Virginia peninsula, at the mouth of the James River, off Hampton Roads, near Norfolk; inc. 1896. Shipbuilding Inc. for the company's board to consider the proposal, Newport News' top executive said Friday. For now, the Newport News, Va.-based builder of nuclear submarines and aircraft carriers is focusing on a previously announced merger with General Dynamics General Dynamics Corporation (NYSE: GD) is a defense conglomerate formed by mergers and divestitures, and as of 2006 it is the sixth largest defense contractor in the world[1]. The company has changed markedly in the post-Cold War era of defense consolidation. Corp., said Newport News Chairman and Chief Executive William B. Fricks. - 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. Northrop division wins NASA NASA: see National Aeronautics and Space Administration. NASA in full National Aeronautics and Space Administration Independent U.S. job EL SEGUNDO - NASA awarded Northrop Grumman Corp.'s Integrated Systems Sector a four-year, $86.6 million contract to help the space agency develop the successor to the venerable space shuttle fleet. Northrop Grumman will provide systems engineering and risk-reduction work under phase one of the Space Launch Initiative project. NASA's planned budget for SLI (Scalable Link Interface) A multi-GPU interface from NVIDIA for connecting two or four NVIDIA display adapters together for faster graphics rendering on one monitor or two monitors. through fiscal year 2006 totals $4.8 billion. The Northrop Grumman work will involve program management, systems integration and technology integration in the areas of structure, subsystems and integrated vehicle health management. It will be led by ISS's Air Combat Systems business area in El Segundo, which has supported studies in earlier stages of the reusable launch vehicle program. - City News Service VeriSign to retain '.com' name duty NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - The U.S. government allowed a California company to extend its role as master-keeper of Internet names ending in ``.com.'' VeriSign agreed Friday to some changes in response to the Justice Department's concerns about competition. Even so, the deal could mean millions of dollars for VeriSign Inc., which now gets $6 annually for each name. Although VeriSign will drop ``.org'' and could lose ``.net'' under the agreement, it gets favorable renewal options for ``.com,'' the most popular and recognizable suffix. Dot-com accounts for three-quarters of the 28 million ``.com,'' ``.net'' and ``.org'' names in use. - Associated Press |
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