A bill touted as a way to boost Florida's manufacturing sector by extending a sales tax break passed its first test in a state House panel Wednesday, overcoming scattered objections that it amounts to a giveaway without guarantees it would stimulate job growth.
If you've worked in an office, you're probably familiar with the soft glow of fluorescent tubes drifting from the ceiling. If Europe's Philips brand is right, those lamps could soon be history. Royal Philips NV, the Dutch consumer appliances giant, said Thursday that it has developed an LED light that will soon be far more efficient than the best fluorescents on the market.
State incentives for Boeing Co.'s expansion plans in North Charleston are clearly ready for takeoff. The Senate voted 37-6 vote on Wednesday to approve $120 million for upfront expansion costs such as utilities and site preparation. Approval of the bill borrowing the money comes a day after Boeing Co. announced it's investing another $1 billion and creating 2,000 new jobs over eight years
The state of Alabama has joined an alliance of Southern states working to bolster the region's effort to develop technology in the automotive manufacturing industry. The state has joined the Automotive Accelerator Alliance, which already includes Tennessee, South Carolina, Georgia and Mississippi.
Stillwater Mining Co. said Wednesday it was revoking almost 187,000 shares of company stock now worth more than $2.3 million in the wake of a lawsuit that challenged the compensation to its chief executive as excessive. The disclosure from the precious-metals mining company came as it tries to fend off a corporate takeover attempt by a group including former Montana Gov. Brian Schweitzer.
Bombardier's CEO, Pierre Beaudoin, talks about the company's expansion in the mid-size jet sector and what that means in terms of competition with Airbus and Boeing. Bombardier's C-series is the company's entry into mainline jets. Fortune's Adam Lashinsky reports.
In this video LUDECA provides insights and instructions for solving various types of soft foot, demonstrating industry-leading techniques using laser alignment equipment. Soft foot is a condition that affects alignment and can shorten the life of machines.
UConn and Pratt & Whitney have created one of the most advanced additive manufacturing laboratories in the country. The new Pratt & Whitney Additive Manufacturing Innovation Center at UConn will serve as an important resource for training the next generation of engineers and designers.
3D printing has grown in sophistication since the late 1970s. TED Fellow Skylar Tibbits is shaping the next development, which he calls 4D printing, where the fourth dimension is time. This emerging technology will allow us to print objects that then reshape themselves or self-assemble over time. Think: a printed cube that folds before your eyes, or a printed pipe able to sense the need to expand or contract.
The latest threat from North Korea comes as President Kim Jung Un made good on his promise to close the Kaesong Industrial park. Kaesong is where 120 factories with North and South Korean workers are side by side. North Korea stands to lose $80 million in wages a year with Kaesong closed. CBS' Margaret Brennan reports.
A Connecticut gun-maker has announced it intends to leave the state following the passage of gun control legislation it says tramples on the rights of citizens and does not show enough consideration for the industry. Bristol-based PTR says in a statement posted on its website that it has not decided where it will move, but it has commitments from most employees to relocate.
The new W visa program would admit 20,000 low-skilled foreign workers starting in 2015 and could gradually grow up to a cap of 200,000 after five years. The number of visas would fluctuate, depending on unemployment rates, job openings, employer demand and other data.
Brown and the California business executives he is traveling with on the seven-day mission are keen to attract more Chinese investment. Brown, however, is acknowledging there are limits to the incentives the state will make, telling American executives that keeping the state's budget in balance is a priority.
GM Chairman and CEO Dan Akerson said at a news conference Wednesday that GM was "fully supportive of the Opel turnaround plan" and that the Detroit-based group "must have a strong presence in Europe and especially here in Germany." Akerson added that GM was committed to investing $5.22 billion in Europe by 2016.
National Association of Manufacturers (NAM) Vice President of Tax and Domestic Economic Policy Dorothy Coleman issued a statement in response to the release of the President’s budget for fiscal year 2014. The statement indicates how NAM thinks the budget will influence manufacturing.
Global trade will be weaker than expected this year as European economies struggle with their debt crisis, and will recover only slightly in 2014, the World Trade Organization said Wednesday. The global trade body forecast in its annual report that trade would grow 3.3 percent during 2013, significantly less than the 4.5 percent it had earlier predicted.
Marchionne has jointly managed the two companies since buying a 20 percent stake in 2009. Fiat has since built up its holding in the U.S. company to 58.5 percent. However, his ambitions to fully merge the two companies have been stalled by a dispute between Chrysler's minority shareholder, the autoworkers union pension health trust.
Boeing Co. is expanding in South Carolina and will invest another $1 billion, creating 2,000 new jobs during the next eight years, the aerospace giant announced Tuesday. Company spokeswoman Candy Eslinger said the company that operates a 787 assembly plant in North Charleston will expand its operations.
U.S. employers advertised the most job openings in nearly five years in February, but they boosted hiring at a much slower pace. The figures suggest that companies remain too cautious about the economy to quickly fill open jobs. The number of openings rose 8.7 percent in February from January to a seasonally adjusted 3.93 million, the Labor Department said.
The Oshkosh-based company says it will begin laying off 700 hourly employees in mid-June, with 200 salaried employees to be laid off by the end of July. Company leaders say production is declining as the military continues to wind down from the wars in Iraq and Afghanistan.