News Summary (BA, EAD, GSK)

Boeing (NYSE: BA) has presented its proposal to the US Air Force on the next-generation aerial refueling tanker aircraft. The company lagged a day behind its competitor, EADS NV (NYSE: EAD), which submitted its proposal yesterday. The supporters of BA say that the Pentagon should add estimated subsidies on the Airbus A330-200 to the bid price placed by Airbus as the EADS tanker is based on the Airbus model. However, EADS claims that its plane is better. GlaxoSmithKline (NYSE: GSK) shares fell today in the premarket trading session as the day for the safety review of its Avandia diabetes drug by the FDA is fast approaching. The agency is likely to announce its preliminary findings on the drug today. Meanwhile, European regulators have also indicated that they will review the safety profile of Avandia. According to Reuters, ECB President Trichet does not believe that the planned cuts in spending by eurozone governments could put the bloc into recession. According to Trichet, "We are totally against the view that reducing public expenditures will hinder economic growth." Read more from Benzinga's Markets.