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U.S. manufacturer ITT Corp. plans to split itself into three companies to take advantage of the growing water and industrial markets as its defense unit prepares for U.S. military spending cuts.
Its shares rose 18 percent Wednesday, reaching their highest point since the fall of 2008. Get the full story »
ITT Corp. has settled its patent dispute with Motorola Inc., after claiming the mobile-phone maker incorporated global positioning systems in its devices that infringed ITT rights. The manufacturing conglomerate said it was pleased with the outcome, although details of the settlement weren’t disclosed except to specify that it resolved all issues between the two over the claim. Get the full story »
