CORPORATE NEWS

Wachovia, U.S. No. 4 bank, is among the companies exploring a deal for the auto-finance firm WFS Financial, which has a market capitalization of $2.5 billion, according to reports Tuesday.

Research in Motion, the BlackBerry e-mail pager maker, has agreed to a joint development deal with Intel, the world's largest chipmaker, according to TV reports late Monday.

Hain Celestial (HAIN: chart) said early Tuesday that it has agreed to buy Spectrum Organic Products (SPOP: chart) for $0.705 per share, with the purchase price half in stock and half in cash. According to the company, the deal, which is expected to close in November, will be accretive to earnings. According to Hain, Spectrum recorded sales of $49.9 million in the last fiscal year.

Nokia announced that it has been chosen to develop India's Bharti Tele-Ventures, in a transaction value of US$ 125 million. Nokia would provide managed services and expand Bharti's Airtel networks in several cities over a three-year period, Nokia said.

The Defense Department awarded General Electric and Rolls-Royce a $2.47 billion contract to develop and manufacture an engine for the Joint Strike Fighter, a high-profile military project.