President Barack Obama said Wednesday that Washington has "taken its eye off the ball" as he pledged a stronger second-term commitment to tackling the economic woes that strain many in the middle class nearly five years after the country plunged into a recession.
An out-of-control natural gas well burned Wednesday off Louisiana hours after it ignited following a blowout, though authorities said there was no sign of a slick on the surface of the water. The Bureau of Safety and Environmental Enforcement says it saw no sheens near the well during flyovers Wednesday morning.
Japan's trade deficit was a smaller-than-expected 180.8 billion yen ($1.8 billion) in June as the weaker yen boosted exports. The deficit reported by the Ministry of Finance on Wednesday was smaller than most forecasts and down from May's deficit of 996.4 billion yen. Still, it was more than triple the 56.1 trillion yen deficit recorded in June 2012.
Automaker Daimler AG laid out the hope of a recovery in the West European car market later this year as it reported a big jump in its second-quarter net profit following the sale of its stake in aerospace firm EADS. The Stuttgart-based company said Wednesday that net profit rose to €4.58 billion ($6.04 billion) from €1.56 billion in the same quarter a year before. Sales rose 3 percent to €29.7 billion.
Ford Motor Co. says it's hiring 800 more engineers, computer specialists and other salaried workers in the U.S. Ford initially planned to hire 2,200 salaried workers this year, but says it will now hire 3,000 as demand for new vehicles grows. U.S. auto sales were up 8 percent to more than 7.8 million through June. Ford's sales rose 14 percent.
Since 1925, Goodyear blimps have adorned the skies as very visible corporate icons of the world's largest tire and rubber company that began operations in 1898. This remarkable time lapse video shows the beginnings of construction on the Goodyear Blimp.
U.S. manufacturers can breathe a sigh of relief that the global economy has taken a few steps back from the brink, with the Federal Reserve and other central banks playing key roles, according to a new report. In the Manufacturers Alliance for Productivity and Innovation’s Global Outlook, senior economist Cliff Waldman writes that central banks have been somewhat aggressive in flooding globally important regions with liquidity.
General Motors stock would have to sell for $95.51 per share for the U.S. government to break even on bailing out the company, according to a government watchdog's report released Wednesday. That price is about three times what GM shares are selling for now, even after a 25 percent increase in the price so far this year.
A fast-moving fire that began in cargo containing lithium batteries turned the inside of a United Parcel Service plane into a "catastrophic" chain reaction of flames and smoke before a crash three years ago in the desert outside Dubai, according to a report released Wednesday.
An out-of-control natural gas well off the Louisiana coast continued to burn Wednesday after it caught fire following a blowout that prompted the evacuation of 44 workers, authorities said. No injuries were reported as a result of Tuesday night's fire, Eileen Angelico, a spokeswoman for the Bureau of Safety and Environmental Enforcement, told The Associated Press.
A deepening slowdown is challenging Chinese leaders' determination to stick with painful economic reforms they say will deliver more sustainable growth in the long run. The latest gloomy data point: A manufacturing survey released Wednesday showed this month's activity fell to an 11-month low.
Ford and Toyota are ending joint research into hybrid systems for trucks and SUVs. The companies said Tuesday that they will each develop the systems independently. Ford and Toyota agreed to the partnership two years ago after the CEOs of both companies met by chance in an airport. Engineers talked frequently and paid visits to each other's labs.
Federal labor officials say a Georgia company has been cited for eight safety and health violations. U.S. Department of Labor officials said Tuesday that Quality Industries LLC was cited after a February inspection at its facility in Hartwell. The company manufactures boat seats, electrical equipment coverings and molds for municipal transportation services.
Workplace injuries in any organization take a bite out of profits. The statistics regarding the number of injuries and illnesses that occur on the job and purported annual costs of $250B is astronomical. In the goods producing industry, which accounts for account for 35 percent of all occupational illness and injury cases, “manual materials handling is the principal source of compensable injuries,” according to OSHA.
The Association For Manufacturing Technology’s Board of Directors announced today the cancellation of imX – interactive manufacturing eXperience scheduled to be held in Las Vegas, Nov. 18-20. This event, first produced in 2011 by the American Machine Tool Distributors' Association (AMTDA) and SME, focused on education and product applications.
Natural gas flowed uncontrolled from a well off the Louisiana coast on Tuesday after a blowout that forced the evacuation of 47 workers aboard a drilling rig, authorities said. No injuries or fires were reported. The federal Bureau of Safety and Environmental Enforcement said inspectors flying over the site Tuesday saw a light sheen covering an area about a half-mile by 50 feet. However, it was dissipating quickly.
President Barack Obama's newest picks for the National Labor Relations Board sought to assure Senate lawmakers Tuesday that they can be fair and impartial in resolving business-labor disputes, despite backgrounds that include advocating for unions.
Federal accident investigators are recommending the government set performance standards for new safety technology that allows cars and trucks to talk to each other and then require the technology be installed in all new vehicles. The National Transportation Safety Board made the recommendation Tuesday in response to fatal school bus accidents at intersections in New Jersey and Florida last year.
Lockheed Martin raised its profit guidance for the year after posting a higher-then-expected second-quarter profit because of strong sales of missile defense systems, and because it settled a dispute over a canceled project to build the new presidential helicopter.
Atomized Products Group is planning to open a battery component manufacturing facility in Chesapeake, Va., creating 26 jobs. Governor Bob McDonnell's office said Monday that the company plans to invest $4.3 million for the facility. Officials say the operation will produce negative battery plate expanders for lead acid battery manufacturers.