CORPORATE NEWS

Northern Trust (NTRS: chart) said that it has been chosen by Julius Baer Investments Ltd. to provide investment outsourcing solutions for about $4.5 billion in fixed income assets under management. The agreement is expected to be completed by the end of 2005.

News Corp. (NWS: chart) plans to sell Sky Radio, Dutch radio broadcaster, according to reports. According to Rupert Murdoch, chairman and chief executive of News Corp., the popularity of digital music players is drawing listeners away from radio, making the long-term future of the medium uncertain.

Intel (INTC: chart) said it designed a new generation of computer chips that should facilitate laptop PCs to function longer on their batteries, as well as help desktop users to save on power costs. Intel targets to start shipping these chips in the second half of the forthcoming year. The new chip would include features of Intel's Pentium 4 chip for desktops and servers and of the Pentium M chip used in notebooks, according to the company.

McDermott International, Inc. (MDR: chart) announced that one of its subsidiaries has been awarded the installation contract for Chevron Corp.'s (CVX: chart) Tahiti project in the gulf of Mexico. The contract terms weren't revealed.

MTC Technologies, Inc. (MTCT: chart) has won a contract worth about $45 million to modify the Air National Guard and Air Reserve Command F-16 aircraft with a commercial fire control computer.