Early Market News: GlaxoSmithKline plc (LON:GSK), BHP Billiton plc (LON:BLT), BAE Systems plc (LON:BA)

Here is another batch of stock briefings which may affect stock trading as the markets continue today. The following companies should see some movement: GlaxoSmithKline plc (LON:GSK), BHP Billiton plc (LON:BLT), BAE Systems plc (LON:BA). Here is a more detailed look at the news that will affect each company when trading continues. GlaxoSmithKline plc (LON:GSK) GlaxoSmithKline plc (LON:GSK) will pay three quarters of a billion dollars for its part in a medical fraud case. GlaxoSmithKline plc (LON:GSK) has decided to pay the penalty of $750 Million for selling faulty drugs to Medicare and Medicaid. The decision is considered to be a part of the Federal government's attempts to combat illegal drug sales. The payment to be made by GlaxoSmithKline plc (LON:GSK) will be distributed among the federal government, some states and a whistle-blower who was a former employee at the company. BHP Billiton plc (LON:BLT) Rio Tinto and BHP Billiton plc (LON:BLT) will not be tying up in Australia. The plan to form a joint venture was announced earlier by both companies – as they were to develop their iron ore business in Western Australia. BHP Billiton plc (LON:BLT) and Rio Tinto combined control 36 percent of the seaborne iron ore market. Marius Kloppers, the chief executive officer of BHP Billiton plc (LON:BLT) said that "The large synergies from combining our Western Australian iron ore assets with Rio Tinto's have caused us to persevere in seeking to obtain regulatory approvals. However, it has become clear that this transaction is unlikely to obtain the necessary approvals to allow the deal to close, and as a result, both parties have reluctantly agreed to terminate the agreement." BAE Systems plc (LON:BA) There are plans afoot at BAE Systems plc (LON:BA) to develop systems to support its African operations. The company has decided to develop a more regionalized strategy of support, as the number of commercial aircrafts developed by BAE Systems plc (LON:BA) has increased their operations in Africa. Sean McGovern, BAE Systems plc (LON:BA) Regional Aircraft director for business support said "We are placing growing numbers of our portfolio aircraft into African countries, and third parties are also finding Africa a very receptive market for our products." There will probably be more movement when trading continues for GlaxoSmithKline plc (LON:GSK), BHP Billiton plc (LON:BLT) and BAE Systems plc (LON:BA).
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