Johnson Controls saw its European operations hammered by the broad recession there and posted a 17 percent decline in net income for the first-quarter Friday. A weak outlook for the current quarter sent shares tumbling in premarket trading.
After two separate and serious battery problems aboard Boeing 787s, it wasn't U.S. authorities who acted first to ground the plane. It was Japanese airlines. The unfolding saga of Boeing's highest-profile plane has raised new questions about federal oversight of aircraft makers and airlines.
General Electric Co. has been re-energized. Performance at all of the conglomerate's industrial segments is improving thanks to cost cutting, a shift in strategy and growth in emerging markets. GE, based in Connecticut, reported an operating profit per share of 44 cents, a penny higher than analysts polled by FactSet expected.
"Holy windfall, Batman!" The Batmobile just sold for $4.2 million. The original 19-foot-long black, bubble-topped car used in the 1960s "Batman" TV show sold at auction Saturday. The Barrett-Jackson Auction Co. in Scottsdale, Ariz., revealed the selling price but says the winning bidder has not been disclosed.
The Thai subsidiary of Toyota Motor Corp. announced Monday that Thai automotive industry sales in 2012 totaled a record 1.43 million vehicles, up 80 percent from the previous year. The company said it expects industry sales to drop 16 percent to 1.2 million vehicles in 2013.
State economic development officials offered $7 million in incentives to nine companies promising to create hundreds of jobs. In Friday's round of project approvals, the Iowa Economic Development Board offered incentives and loans to projects from existing companies that are proposing business expansions, the Des Moines Register reported.
CNNMoney's Jim Boulden looks at the pressure and problems Boeing and Airbus have faced in launching their new high-tech airplanes. Airbus' A380 has seen mid-air engine explosions and cracked wings, and now Boeing is dealing with battery - and possibly electrical - issues of its own.
Boeing is stopping deliveries of the 787 until the plane's electrical system is fixed but says production is not stopping. The plane is assembled in Everett, WA, and North Charleston, SC out of pieces built all over the world. The FAA has grounded the 787s currently in use until Boeing can prove the batteries are safe.
As Toyota Motor Corp. chips away at settling lawsuits claiming its vehicles suddenly accelerate, the question remains whether attorneys who sued could prove to a jury there was a design flaw. The company maintains stuck accelerator pedals, faulty floor mats and driver error are the reasons for vehicles unexpectedly surging, while plaintiffs' attorneys contend Toyota's electronic throttle control system is to blame.
Caterpillar Inc. said Friday that it found deliberate "accounting misconduct" at a recently acquired company in China. The U.S. based construction and mining equipment company has removed several managers at the company and will take a non-cash $580 million charge in the fourth quarter tied to the misconduct.
Workers at a Japanese-owned electronic parts maker in Shanghai locked up around 10 Japanese executives for two days to press their demands for better pay and working conditions, releasing them early Sunday after police intervention. Among the captives was the president of Shinmei Electric Co., the parent company of the Shanghai factory.
The pension fund for one of Hostess Brands' unions has hired an investment bank to represent workers and pensioners as the maker of Twinkies and Wonder Bread sells off its brands. In a statement posted Sunday on its website, the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, which represents around 6,000 Hostess bakers, said Gordian Group LLC will represent the fund.
A new and legally binding international treaty to reduce harmful emissions of mercury was adopted Saturday by more than 140 nations, capping four years of difficult negotiations but stopping short of some of the tougher measures that proponents had envisioned.
Solar photovoltaic (PV) technology has been around for most of the 20th century; however it has only made financial and commercial sense in the last five to 10 years. The growth of the PV industry has been driven by the improving economics associated with a PV install as a result of cost reductions and incentives.
The American Taxpayer Relief Act of 2012, signed into law on January 2, 2013, avoids the scheduled increases to individual income tax rates for most Americans andextends a host of expired and expiring tax provisions for both individuals and businesses. A sigh of relief has been heard as at least one portion of the fiscal cliff was narrowly averted. It also ends the long and acrimonious debate over the Bush-era tax cuts.