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.
Davis Aircraft Products said Monday it expects to hire 100 people to work in the new $5.5 million plant when it opens next spring in Andrews, S.C. The company will make tubing for airplanes at the new plant. Davis Aircraft Products CEO Bruce Davis says he appreciated the support he got from state and local officials as he decided where to put his new manufacturing plant.
Coca-Cola began bottling its famous soft drink in Myanmar on Tuesday as part of a planned five-year, $200 million investment after having no local production for more than 60 years. The company announced in a press release the ceremonial inauguration of its bottling plant in Hmawbi Township, a suburb of Yangon, the country's biggest city, with local partner Pinya Manufacturing Co.
Training is extremely important to the future of manufacturing in the United States, yet in many states, it has fallen by the wayside. Training for skilled manufacturing positions has been hit by a perfect storm of budget cuts and the mistaken idea that all young workers should go to college.
Connected to a laptop I can’t afford, on the far end of a tangle of cords, is an exposed circuit board peppered with objects I can name — resistors, diodes — but not explain. The computer itself is running software that I’m not capable of programming myself. But none of that matters, and, in fact, is part of an educational plan from National Instruments’ Academic Program.
The strong sales are another sign that auto sales will continue to boost the U.S. economy, as consumers replace aging vehicles and businesses invest in trucks as they gain confidence. Builders are buying pickup trucks at a rapid pace as home construction continues to rebound.
Cambodian police on Monday clashed with workers and arrested seven at a factory that makes clothing for the U.S. sportswear company Nike in the latest violence linked to a strike over salaries there, a union organizer said. Free Trade Union of Workers of the Kingdom of Cambodia organizer Son Vanny said its members exchanged barrages of sticks and stones with members of a rival union opposing the strike.
Once a science-fiction fantasy, three-dimensional printers are popping up everywhere from the desks of home hobbyists to Air Force drone research centers. Users are able to make just about anything they like: iPad stands, guitars, jewelry, even guns. But experts warn this cool innovation could soon turn controversial — because of safety concerns but also the potential for the technology to alter economies that rely on manufacturing.
A measure of U.S. manufacturing fell in May to its lowest level since June 2009 as slumping overseas economies and weak business spending reduced new orders and production. The Institute for Supply Management said Monday that its index of manufacturing activity fell to 49 last month from 50.7 in April.
As it inches closer to emergence from bankruptcy, Eastman Kodak is still wrestling with the financial repercussions of past environmental problems. Federal and New York state officials have filed a dozen claims for past environmental damage and expenses, including demands for up to $10.1 million to address toxic silver contamination of sediments in the Genesee River.
By acquiring the Preactor Group headquartered in Chippenham in the UK, Siemens further expand its international lead in the industry software market. Preactor’s APS software solutions will add significant new components to the Siemens Manufacturing Operations Management (MOM) portfolio.
Vestas, a Danish wind power company, says its manufacturing facility in Colorado is making the biggest blade for wind power in the United States. Bjarne Nielsen, Vestas Blades Division, says the V117 blade is nearly 60 meters in length, longer than half a football field.
Fire raged through a poultry plant in northeastern China on Monday, trapping workers inside a cluttered slaughterhouse and killing at least 119 people, reports and officials said. Several dozen people also were hurt in the blaze in Jilin province's Mishazi township, which appeared to have been sparked by three early morning explosions, the official Xinhua News Agency said.
A Montana couple is appealing a judge's dismissal of their lawsuit against gun manufacturer Remington claiming a 1989 shooting that left a man paralyzed was caused by a defect in a rifle. U.S. District Judge Richard Cebull ruled on April 29 that time had run out on the claim by Brad and Dianna Humphrey of Fairfield.
Ford is recalling about 465,000 cars and SUVs because the fuel tanks can leak and cause fires. The global recall affects the Ford brand's Fusion, Explorer, Taurus, Flex, Police Utility and Police Interceptor. Also covered are the Lincoln MKS, MKT and MKZ. All the vehicles are from the 2013 model year.
China's manufacturing shrank slightly last month, a report said Monday, adding to signs of an uncertain recovery in the world's second-biggest economy. HSBC's monthly purchasing managers' index fell to 49.2 in May. That's down from 50.4 in April. Readings below 50 indicate a contraction.
State regulators have given initial approval for a major expansion at a western Iowa fertilizer manufacturer. The Iowa Department of Natural Resources has issued draft air quality permits for the $1.7 billion expansion planned by CF Industries south of Sergeant Bluff.