Millions of people around the globe toasted the new year with a glass of one of Scotland's best exports but only one traditional whisky also provides fuel for your car. Ivor Bennett reports from the Scottish distillery, Tullibardine, which has gone into business with Celtic Renewables, part of Napier University, to convert its whisky leftovers into auto fuel.
U.S. manufacturing grew slightly last month and factory hiring increased. The modest gain suggests the economy entered the new year with some momentum. The Institute for Supply Management said Wednesday that its index of manufacturing activity rose in December to 50.7. That's up from a reading of 49.5 in the November, which was the lowest reading since July 2009, one month after the recession ended.
A healthier economy and more new model introductions should push U.S. auto sales above the 15 million mark this year, predicts an auto industry research firm. The Polk research firm says auto sales should continue to lead the country's economic recovery, rising nearly 7 percent over 2012 to 15.3 million new vehicle registrations.
Global steel giant ArcelorMittal will sell a 15 percent stake in one of its Canadian iron ore operations to an Asian-led consortium for $1.1 billion in cash. In the transaction announced Wednesday, a group led by South Korean steelmaker POSCO and China Steel Corp. will enter into a joint venture partnership that will own ArcelorMittal's Labrador Trough iron ore mining and infrastructure assets.
Felman Production LLC and the United Steelworkers have agreed on a new contract at the company's ferroalloys plant in New Haven, W. Va. Felman announced the agreement with United Steelworkers Local 5171 on Wednesday. It says the 42-month contract will cover more than 215 workers.
Fiat says 2012 was the worst year for car sales in Italy since 1979, but that the manufacturer nevertheless managed to slightly increase its share of the national market. Fiat SpA said in a statement Wednesday that Fiat Group's share of the 2012 market increased slightly to 29.6 percent from 29.4 percent in 2011.
The bill Congress approved Tuesday night providing tax relief for most taxpayers also helps wind energy and ethanol producers by extending tax credits designed to encourage continued development. States like Texas, the nation's leading wind energy producer, and Iowa, the leading ethanol maker, should benefit from the incentives.
In this video from consulting firm PwC, US Industrial Products leader Bob McCutcheon discusses seven key factors that will affect a resurgence in American manufacturing, from shale gas, to talent, to demand, and more. Check it out here.
Blue Giant Equipment Corporation is pleased to announce the launch of its U.S. operation, Blue Giant Equipment LLC, which is marked by the opening of a new manufacturing facility in Greensboro, North Carolina.“We are excited to expand our presence into the United States to better serve our customers,” says Jeff Miller, Blue Giant LLC’s President.
Congress' excruciating, extraordinary New Year's Day approval of a compromise averting a prolonged tumble off the fiscal cliff hands President Barack Obama most of the tax boosts on the rich that he campaigned on. Passage also lays the groundwork for future battles between the two sides over federal spending and debt.
Boeing Co. said on Wednesday that it has finalized an order for 60 of its planned 737 Max planes, pushing its total for the Max to more than 1,000. The deal, which Boeing said was finalized with leasing company Aviation Capital Group in late December, would be worth $6 billion at list prices. Steep discounts are common on large orders, however.
China's manufacturing grew at its strongest rate in 18 months in December but new exports fell from the previous month due to weak global demand, a survey showed Monday. HSBC Corp. said its monthly purchasing managers' index rose to 51.1 percent on a 100-point scale on which numbers above 50 show expansion. That was up from November's 50.5 and the strongest growth since May 2011.
The sale of a former General Motors plant in north-central Ohio is raising hopes that new jobs will be coming. Representatives of a Miami-based firm that will own the former auto factory near Mansfield say they have two potential tenants that could bring 1,100 jobs combined.
Nissan Motor Co. President and Chief Executive Officer Carlos Ghosn expressed hope that the recent change in leadership in both Japan and China will bring about an improvement in strained bilateral economic relations and a recovery of auto sales in China.
Ford is spending about $773 million to expand six Michigan manufacturing plants while adding 2,350 factory jobs in the state, part of a broader investment plan announced last year. Ford Motor Co., which is based in Dearborn, Mich., aims to invest $6.2 billion in U.S. facilities and add 12,000 factory jobs across the country by 2015.