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Wall Street Week Ahead: Correction talk gets old as rally sails along

NEW YORK - With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old.

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Families edging out private equity in consumer deals

LONDON - From ketchup to hot drinks, family-run investment firms are shaking up the consumer deals market, squeezing out private equity players and forcing them to change strategy.

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China denounces EU airline carbon law, seeks talks

BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.

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L-3 unit in potential $500 million U.S. satcom deal

WASHINGTON | Wed Jun 20, 2012 6:22pm EDT

WASHINGTON (Reuters) - A unit of L-3 Communications Holdings Inc (LLL.N) has won a U.S. Special Operations Command deal for portable satellite-communications gear with a potential value of up to $500 million over five years, the Defense Department said Wednesday.

The guaranteed contract minimum is $7.6 million, the department said in its daily contract digest.

L-3 Global Communications Solutions, the same unit, was awarded in 2010 a potential $170 million contract over five years for so-called very small aperture terminal satellite communications systems and related equipment.

Such systems are designed to integrate data, broadband internet, telephony, multimedia, audio, video and computer networking - all in a rucksack-sized package.

(Reporting By Jim Wolf; Editing by Bob Burgdorfer)
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