Toyota Motor Corp. said Wednesday it is recalling about 242,000 of its Prius and Lexus hybrid vehicles due to problems with their braking systems. The recall applies to about 233,000 Prius vehicles made between March and October 2009 and about 9,000 Lexus HS250h models made between June and October 2009.
The U.S. government is taking advantage of the recent run-up in General Motors stock to sell off another 30 million shares in the auto giant that it acquired in a bailout. The Treasury Department said Wednesday that it will sell the shares, plus another 20 million owned by a United Auto Workers retiree health care trust, in a public offering after the market closes Thursday.
There has been a steady upward trend in average effective tax rates (ETR) of industrial products and automotive companies from 2010 (26.1 percent) to 2012 (28.3 percent), despite a reduction in statutory rates of corporate income tax around the world, according to the PwC US 2013 Assessing tax report, a tax rate benchmarking study covering 316 companies across the following industries.
Today’s smaller manufacturers are creating enormous amounts of data — everything from new product designs to top-secret intellectual property, as well as a constant flow of customer and sales information that must be managed and protected every day. To say that this data is vital would be understating the value of its constant use, and any loss of information could be devastating.
A defiant Chrysler is refusing a government request to recall about 2.7 million sport utility vehicles to fix fuel tanks that could leak and cause fires in rear-end collisions. Chrysler said Tuesday that the National Highway Traffic Safety Administration has asked in a letter that the company recall Jeep Grand Cherokees from 1993 through 2004 and Jeep Libertys from 2002 through 2007.
An early morning fire has prompted the closure of a South Sioux City oat processing plant.The Sioux City Journal reports firefighters responded about 3 a.m. Monday to a fire on a manufacturing line at the Viterra grain processing plant. Tracey Shelton, a spokeswoman for plant owner Richardson International, says the plant is closed while crews assess the damage.
The European Union announced Tuesday that it is imposing anti-dumping levies on imports of Chinese solar panels, in a move that could trigger a trade war between two of the world's largest economies. EU Trade Commissioner Karel De Gucht said the 27-nation bloc will impose a tariff of about 12 percent on the import of solar panels, cells and wafers.
U.S. safety regulators are checking to see if up to 400,000 General Motors cars should be added to two recalls for defective air bags. The probe covers Chevrolet Cruze and Sonic small cars, the Chevrolet Camaro muscle car and the Buick Verano small car from the 2012 model year.
A fire breaks out in a Chinese factory, and panicked workers discover one exit after another is locked. That describes not only the poultry plant fire that killed 119 people Monday, but a toy-factory blaze that left 87 workers dead 20 years earlier. The similarities between the two worst factory fires in China's history suggest that little has changed for industrial workers even as the country has transformed its economy.
Much of the world's electronic waste ends up in Guiyu, China, where old parts are recycled but chemicals like mercury leak into the water. Cell phones arrive in this town by the truckloads, where locals are experts in sorting through the electronic trash.
SME has redefined itself for the 21st century based on the value it provides to its numerous audiences and the central role it plays in the advancement of manufacturing. SME is integrating its strategic areas — events, publishing, membership, Tooling U-SME online training division and the SME Education Foundation — around an evolved mission to inspire, prepare and support its stakeholders in the advancement of manufacturing.
Porsche's ex-finance chief has been convicted of fraud after a court found he provided false information during the German sports car marker's failed 2009 attempt to take over Volkswagen AG. Former Porsche CFO Holger Haerter was fined an unspecified amount after being found guilty Tuesday by a Stuttgart state court, the dpa news agency reported.
The U.S. trade deficit widened in April, as demand for foreign cars, cell phones and other imported goods outpaced growth in U.S. exports. The Commerce Department said Tuesday that the trade gap rose 8.5 percent in April from March to $40.3 billion. Exports increased 1.2 percent to $187.4 billion, the second-highest level on record.
Italy's industry minister says the government is preparing an emergency decree to temporarily take over Europe's largest steel mill, which is beset by environmental and corruption scandals. Flavio Zanonato said Tuesday that it had become clear that the cleanup of the plant cannot be conducted by those responsible for the environmental emergency.
Chinese President Xi Jinping and American counterpart Barack Obama will talk cyber-security this week in California, but experts say the state's Silicon Valley and its signature high-tech firms should provide the front lines in the increasingly aggressive fight against overseas hackers.