Fierce clashes break out in Libyan capital Tripoli
TRIPOLI, May 26 Heavy clashes between rival factions erupted in the Libyan capital Tripoli on Friday, with loud explosions and heavy artillery fire heard since the early morning.
Sept 24 Sikorsky Aircraft, a unit of United Technologies Corp, said on Monday it is closing its Elmira, New York, aircraft facility, where 575 workers have been adding special mission equipment to Black Hawk and Sea Hawk helicopters.
Sikorsky spokesman Paul Jackson said the company began telling employees about the plant closing on Monday. He said the work would be shifted to another large Sikorsky plant in West Palm Beach, Florida, but that no jobs will move.
The decision to close the facility, which is operated by the company's Schweizer Aircraft subsidiary, came in response to the Pentagon's plans to cut $487 billion from its projected spending levels over the next decade.
Defense companies like Sikorsky are still battling to stave off an additional $500 billion in defense spending cuts that are due to take effect in January, unless U.S. lawmakers reach an eleventh-hour compromise to avert the reductions.
Sikorsky plans to issue notices to employees in coming days warning them about further job cuts that could be linked to the additional budget reductions, said one source familiar with the company's plans.
BEIJING, May 26 Yu'e Bao, a money market fund under China's Ant Financial, will impose a cap on individual accounts at 250,000 yuan ($36,475), amid tightening regulatory oversight of China's financial markets.