Shares of some U.S. steel manufacturers rose Tuesday, a day after AK Steel Holding Corp. imposed a $50 per ton increase in spot market base prices for carbon flat-rolled steel used in such products as automobiles and appliances. AK Steel said Monday that the increase was effective immediately on new orders.
Verizon has recently released its fifth annual Data Breach Investigations Report, which investigates the various ways that attackers — both internal to a company or external, both intentional and accidental — breach security systems and gain access to sensitive data. This year, Verizon’s RISK team decided to take a closer look at the data in the effort to discover trends in attacks related directly to intellectual property.
If the United States economy is to restore itself to earlier levels of full employment, prosperity and financial soundness, the American manufacturing community must engage in a national effort to resurrect its global competitiveness. Today, we are threatened by a new brand of economic imperialism, and the restoration of the competitiveness of the American manufacturer is a new kind of war we need to win.
One person died and four others, including a suspected gunman, were wounded Tuesday when he opened fire at a food service company in Fresno, Calif., police said. The shooting occurred at the Apple Valley Farms plant in the central part of the city.
It remains "business as usual" for Suzuki in Canada despite a decision by its counterpart in the U.S. to discontinue auto sales and seek court protection from its creditors while it focuses on other products. "Suzuki Canada has no current plans to discontinue automobile sales in Canada nor are we contemplating any form of court-supervised restructuring as they have done in the United States," Suzuki Canada spokesman Bill Porter said.
Strong sales of its luxury cars in China helped Germany's BMW AG overcome weak markets in crisis-ridden Europe. Net profit rose 16 percent in the third quarter to €1.29 billion ($1.65 billion) on a 13.7 percent jump in sales to a record €18.82 billion. The Munich-based carmaker said it was sticking to its forecasts for 2012 sales and earnings to be up on the previous year despite "an increasingly uncertain market environment."
Microsoft and Apple are garnering the highest profit margins for their tablets, followed by Google and then Amazon, according to research firm IHS. IHS' analysis excludes costs for marketing, sales or operating system-software, which Microsoft has been touting with its device. The research firm obtains the devices independently and breaks them apart to estimate the cost of the components.
Wind tower manufacturer DMI Industries Inc. in North Dakota has shut down. West Fargo's economic development director says the future of the DMI plant isn't known because officials with the Texas-based company that recently bought the plant aren't immediately revealing their plans.
Weather experts had good news for beleaguered northeast coastal residents Tuesday: A new storm that threatened to complicate Hurricane Sandy cleanup efforts on Wednesday now looks like it will be weaker than expected. As the storm moves up the Atlantic coast from Florida it now is expected to veer farther offshore than earlier projections had indicated.
Reuters's Daily Digit: 7.4 million - Toyota's unlucky number, reports Reuters' Lisa Yuriko Thomas. Toyota has seen profits jump and hiked forecasts, after shifting 7.4 million vehicles in the first nine months of the year. But that's also the number of cars it recently had to recall.
American Suzuki Motor Corp. on Monday filed for Chapter 11 bankruptcy protection and said it will cease selling automobiles in the U.S. as part of a plan to restructure its business. The company, based in Brea, Calif., is the sole distributor of Suzuki Motor Co. vehicles in the continental U.S.
A Delaware judge has authorized a Chinese auto-parts maker to provide bankruptcy financing for battery maker A123 Systems. The judge gave interim approval Monday for Wanxiang (wang-SHIN) Group to provide $50 million in financing to A123, which filed for bankruptcy protection last month.
Behlen Manufacturing has agreed to pay a penalty of nearly $60,000 for several EPA violations at its plant in Columbus, Neb. The Environmental Protection Agency says Behlen also agreed to spend a minimum of nearly $75,600 to install anti-pollution equipment.
General Motors is boosting its cash with $11 billion in new credit lines, a move that could mean the automaker is preparing to buy back its shares from the government. The company said Monday it acquired the credit from 35 financial institutions in 14 countries. It now has more than $42 billion in available cash and credit.
Indiana's oldest ethanol plant has shut down indefinitely. New Energy Corp. President Russ Abarr tells the South Bend Tribune (http://bit.ly/RNOBg7) the plant shut down last week, idling 40 employees. Abarr says an undetermined number of workers will stay on the job as the plant that opened in 1984 prepares to remain idle for at least several months.
The Hershey Co. has won approval to tear down part of the chocolate factory built by founder Milton Hershey following the shifting of production across town. The Derry Township Design Review Board on Monday approved the chocolate maker's plan to tear down much of the East Chocolate Avenue building, leaving behind the iconic smokestacks and bushes that spell out "Hershey Cocoa."
The October registered 51.7 percent, an increase of 0.2 percentage point from September’s reading of 51.5 percent, indicating growth in manufacturing at a slightly faster rate. “This helps to remind people that manufacturing is growing, despite its ups and downs and everything going on around us,” said Holcomb, CPSM, CPSD, chair of the Institute for Supply Management Manufacturing Business Survey Committee.
Spirax Sarco has been commended by the U.S. Department of Energy on its energy efficiency accomplishment over the past year. As a Partner of the U.S. Department of Energy’s Better Buildings, Better Plants Program, Spirax Sarco has joined over 100 other industrial firms in a voluntary pledge to reduce the corporate-wide energy intensity of their manufacturing operations by 25 percent in 10 years.
Indiana's manufacturing industry has seen its recovery stall, and experts predict things will get worse as many of the state's largest companies feel the effects the European financial crisis and slowing growth in China. The U.S. Bureau of Labor Statistics reports the state lost an estimated 1,400 manufacturing jobs in September.
Boeing Co. and Kuwaiti airplane leasing company ALAFCO are saying they finalized an order for 20 Boeing 737 MAX 8s valued at $2.0 billion at their current list price. ALAFCO buys planes and then leases them to airlines. The deal was first announced in July at Britain's Farnborough Airshow