Europe’s EADS on Thursday said it has invested tens of millions of dollars to develop an armed helicopter for a possible U.S. Army competition and will look to team up with defense contractors to pump up its non-Airbus U.S. sales to $ 10 billion by 2020. EADS North America Chief Executive Sean O’Keefe said the parent company planned to wrap up by yearend a strategic review launched after the collapse of merger talks with Britain’s BAE Systems last week. O’Keefe, who has advocated forcefully for acquisitions in the past, said the review would determine the company’s future M&A plans. On […]
The Asian Development Bank cut growth forecast for developing Asia on Thursday, citing Europe’s worsening financial crisis, sluggish recovery in the U.S. and slower growth in China and India. The Manila-based lending institution predicted that the region’s economies will expand by 6.6 percent this year and 7.1 percent next year. The figures are lower than the bank’s growth outlook announced in April of 6.9 percent this year and 7.3 percent in 2013. The report said economic growth in developing Asia moderated during the first half of 2012 as slower growth in the United States and the eurozone reduced demand for […]
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