A key ratings agency has restored General Motors' debt to investment grade status, eight years after the company lost the rating as it spiraled toward bankruptcy protection. The upgrade came on Monday morning, shortly after GM announced plans to buy back high-interest preferred stock from a union retiree health care trust fund for $3.2 billion.
China's manufacturing rose to a six-month high in September, in the latest sign that the world's second biggest economy is gradually recovering from a prolonged slowdown. The preliminary version of HSBC's purchasing managers' index released Monday climbed to 51.2 from 50.1 in August on a 100-point scale. Numbers above 50 indicate an expansion in activity.
Lockheed Martin Corp. said Monday that it was awarded a $3.9 billion deal to provide missile defense equipment for the United States and the United Arab Emirates. The contract includes making up to 110 interceptors for the U.S. Army and 192 interceptors for the UAE. It will also make ground equipment for the UAE. Missile defense systems are able to detect and destroy any incoming missiles.
Alabama Gov. Robert Bentley says two affiliated companies in the automotive supply field will build their first U.S. production facility in Tuscaloosa, creating at least 350 new jobs by 2016. Bentley announced the plans during a Monday morning news conference at the Tuscaloosa River Market in Tuscaloosa.
The latest figures show Japan's exports climbing - so what's got the country's manufacturers feeling worse? Reuters' Yonggi Kang reports on the darker side of the country's trade picture and what exactly it takes to keep Japan's companies happy.
It carried hippies through the 1960s, hauled surfers in search of killer waves during endless summers and serves as a workhorse across the developing world, but the long, strange trip of the Volkswagen van is ending. Brazil is the last place in the world still producing the iconic vehicle.
A worker at a Florida asphalt plant has been rescued after getting stuck in a tank of tar. The Florida Times-Union reports the 45-year-old man was using a steel cutter inside the tank Friday afternoon at Atlantic Coast Asphalt in Jacksonville.
Employers cut jobs in 20 states last month, suggesting modest improvement in the job market this year is not enough to benefit all areas of the country. The Labor Department said Friday that 29 states added jobs, while Montana showed no net gain or loss in August. Unemployment rates rose in 18 states, fell in 17 and were unchanged in 15.
Police fired rubber bullets and tear gas Monday in the third day of clashes with thousands of garment workers demanding better minimum wages amid escalating tension over the country's main export business. Police said the violence mainly took place in the Gazipur and Savar Industrial zones, just outside the capital of Dhaka.
President Barack Obama applauded the resurgence of auto manufacturing Friday at a Ford Motor Co. plant near Kansas City as he urged Congress not to hamper the nation's economic recovery with threats of a partial government shutdown. "We bet on the America worker, we bet on you and now that bet is paying off," Obama said. "You have trouble making (vehicles) fast enough."
Financing for a $1.1 billion steel mill planned for northeast Arkansas expects to be wrapped up by the end of the year, but until then backers will be lining up customers and suppliers. The Big River Steel plant, which is projected to employ more than 500 people, recently was approved for an air quality permit from the Arkansas Department of Environmental Quality, pending resolution of any objections that are due before mid-October.
The Malcolm Baldrige National Quality Award is recognized as one of the most prestigious honors a U.S. company in the manufacturing sector can attain. We recently sat down with Woodbury University President Luis Calingo, member of the 2013 Board of Examiners for the award. He offers perspective on goals every company in this sector should strive for and the irony of cost cuts that are often made to employee training programs.
The Electric C-MILLHOG® O.D. Clamping End Prep Tool has a massive clamp that grips tubing from the outside, evenly distributing the holding power, to assure a chatter-free, precision end prep on both thin-wall and heavy-wall tubes.
Because users can upgrade at their own pace, the Foxboro Evo system delivers the lowest total cost of automation and highest return on assets, says the company.
The toolboxes feature fully-welded drawer and construction housing, allowing them to stand up to the toughest environments and usage, says the company.
Introduced in direct response to customer input, the replaceable belt cleaner tips have increased wear life in secondary cleaners by as much as 50 percent, while cutting replacement labor time roughly in half, says the company.
This flexible-PVC, XLPE-insulated power cable is ideal for applications with high voltage spikes and long cable runs due to its low capacitance.
The VIEVU2 is rugged and waterproof, encased in military grade anodized aluminum housing for durability and streams real-time HD video while connected to a Smartphone or Wi-Fi network.
VIBRA-STOP overcomes traditional roadblocks that prevent thread lockers from being packaged in spray applicators, says the company.