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General Dynamics Bath Iron Works (BIW) has been awarded a US Navy contract worth $2.8 billion on Monday for building four guided-missile destroyers over the next five years.

The contract has provided assurances to workers at the Maine's largest employers. Officials also said that the BIW is likely to be awarded a contract for a fifth destroyer worth $700 million if the US Navy is able to secure an agreement with Congress to cover the shortfall in funding. BIW already has five DDG-51 ships under contract for the US Navy.

Gaming giant, Zynga might be planning to shut down OMGPOP game studio, which is known for its popular ‘Draw Something’ mobile game.

Zynga had acquired OMGPOP gaming studio in the previous year for $180 million at a time when the Draw Something game had more than tens of millions of players. Zynga's chief mobile officer David Ko had said that the company did not acquire OMGPOP just to own "Draw Something" but it took over the company because it saw a lot of upcoming ideas from the company.

According to the latest figures released, the manufacturing output in the United States fell unexpectedly during the month of May, to its lowest level in four years.

Experts have said that the slowing growth in the export market and the tight fiscal policy has resulted in the fall in manufacturing output in the world’s largest economy during the month. A key index of manufacturing output in the country, the Institute for Supply Management’s manufacturing index fell to 49 during May from 50.7 recorded in April.

A leading luxury hotel in New York, the New York Hilton Midtown has said that it is planning to eliminate room service this summer season as it tries to improve earnings in the difficult business conditions.

A group of senators in the US congress are set to complete a plan to liquidate Fannie Mae and Freddie Mac (FMCC) and replace the failed bank with a government reinsurer of mortgage securities with private capital.

New Delhi, June 4 :  Accusing the Congress-led UPA government of "destroying institutions,", BJP leader Arun Jaitley Tuesday said that the cost of its "Modi-phobia" would be paid by the Intelligence Bureau (IB) in the case of the alleged killing of Ishrat Jahan.

In an article on the party's website Tuesday, Jaitley said there were news reports that the CBI has been interrogating senior officers of the IB in the case of alleged killing of Jahan.