The Italian government is preparing measures aimed at avoiding the closure of a steel plant that is Europe's largest by capacity and has been the subject of a health scandal. Premier Mario Monti's government hammered out measures Friday, a day after meeting with owners and union representatives at the Ilva plant in the southern province of Taranto.
Two firearms companies owned by a German group said Thursday they would spend $7 million on manufacturing plants at a former military installation near Fort Smith and create from 70 to 120 jobs in the next five years. Umarex USA already has offices at the Chaffee Crossing center and will share a campus with Walther Arms on the east side of town, where the U.S. Army formerly operated Fort Chaffee.
One of the most significant fire protection requirements for processing facilities and offshore locations is the need to protect control cables and valves in the event of a fire. Several options are on the market and each has its benefits; operators need to weigh the pros and cons of the available solutions to ensure that they select one that is the best.
For companies in modern America and across the globe, the digital revolution is every bit as unsettling today as the financial crisis was in 2008. The ways in which we interact today are so different from what we have encountered in the past. Social media has given corporations and their products a face of their own; a presence that people can interact with and relate to, for better or for worse.
Hostess Brands Inc. is asking for a judge's approval to give its top executives bonuses totaling up to $1.8M as part of its wind-down plans. The maker of Twinkies says the incentive pay is needed to retain "high-level managers" during the liquidation process, which could take a year. Two of those executives would be eligible for additional rewards depending on how efficiently they carry out the liquidation.
Chinese vehicle production from Toyota and other major Japanese automakers tumbled in October amid a territorial dispute between the two Asian powers that led to boycotts of Japanese products in China. Toyota Motor Corp. said Thursday that its Chinese output plunged 61 percent to 30,591 vehicles, its third straight monthly decline.
The owner of a Bangladesh clothing factory where a fire killed 112 people says he was never informed the facility was required to have an emergency exit, a sign of how far removed the leaders of the nation's garment industry are from issues of worker safety.
Federal workplace safety officials have cited a chemical company for dozens of violations and propose $545,000 in fines after a vapor release temporarily closed a northeast Ohio plant and a nearby highway. The Occupational Safety and Health Administration said Wednesday it cited Dover Chemical Corp. for 47 health and safety violations.
Nearly 400 nonprofits and public employers will receive bills totaling more than $542,000 after South Carolina's unemployment agency mistakenly undercharged employers for three quarters. The Department of Employment and Workforce is notifying employers this week of a computer programming error that resulted in $8.6 million worth of paid-out benefits not being properly recorded.
Government attorneys say failed battery maker A123 Systems Inc. needs the government's consent in order to sell its assets. The Justice Department told a Delaware bankruptcy judge Tuesday that any sale of A123's assets must protect the government's interests. The Department of Energy gave the Waltham, Mass., company a $249 million grant three years ago.
CNBC's Phil LeBeau speaks to Volkswagen of America president & CEO Jonathan Browning, about the Beetle Convertible coming out mid-December. Unveiled this week at the Los Angeles Auto Show, the new 2013 Beetle represents fun and freedom in the marketplace, says Browning, and there is still a demand for a convertible car.
Flexing its metal muscles is the 4-meter or 13-foot-tall Kuratas robot. Creator Kogoro Kurata wanted to bring to life the machines of his childhood fantasies, even though he realizes his prototype doesn't hold too much value for society.
It's the latest marketing ploy in car-crazed Japan: A car made specifically for women in an almost too predictable pink. This is a new version of the Honda Fit, a model named not "Hers", but "She's." The car's designer, Eri Tomonari, says the car's windshield cuts down on UV rays and the plamsa cluster A/C won't leave drivers with dry skin.
CNNMoney visits Israel's biggest defense manufacturer, Israel Aerospace Industries, and gets special access to the drones of today and the future. Owned by the Israeli government, the company does over $3.5 billion in annual sales. Of that, about a quarter goes to the Israeli Ministry of Defense, which makes one of Israel's most valuable tools.
The 2013 SRT Viper has tons of power and lots more refinement, and is the best Viper ever by a mile, says Peter Valdes-Dapena, CNN Money senior editor. Driving with only one hand on the steering wheel (something not so easily done in the older models), he shows off the new Viper here.
A freak tornado struck a steel plant in southern Italy on Wednesday just days after its owners announced their intention to close what is Europe's largest steel facility. One person was reported missing and some two dozen were injured when the tornado struck Wednesday, the ANSA news agency said, adding that the Ilva plant sustained significant damage.
The Obama administration put a temporary stop to new federal contracts with British oil company BP on Wednesday, citing the company's "lack of business integrity" and criminal proceedings stemming from the Deepwater Horizon disaster in 2010.
Nokia Corp. said Wednesday that it is suing Research In Motion, the maker of the BlackBerry, for breach of contract in Britain, the United States and Canada over cellular patents the two companies agreed on nine years ago. The struggling Finnish cellphone maker agreed with RIM in 2003 on a license that covers patents on "standards-essential" technologies for mobile devices.
General Motors and its joint venture partners say they will build a third factory complex in China to keep pace with rising sales. GM China, SAIC and Wuling Motors expect to start construction on the plant in the Chongqing municipality early in 2013, with the $1 billion first phase opening in 2015. Eventually the plant will be able to build 400,000 vehicles and engines per year, the company said in a statement Wednesday.
The Los Angeles Auto Show opens to the public Friday, and here are some of the most talked-about vehicles that will be making their world debuts at the event, including the Toyota RAV4, Honda Civic, Fiat 500e, BMWi3, Acura RLX, Chevrolet Sparks, and Ford Transit Connect Wagon.