As the government's partial shutdown enters a second day, most companies across the country are doing business as usual. Yet concern is rising that a prolonged shutdown would cause some work at private companies to dry up and consumers to lose faith in the U.S. economy.
BlackBerry says the cost of reworking its operations will likely be four times as much as it estimated earlier this year and may turn out to be even be higher than that. According to financial report documents filed with regulators, the smartphone maker expects to book US$400 million in charges from a variety of factors before the end of May 2014.
Daimler AG's Mercedes-Benz says it will build a new plant in Brazil to produce its C-class sedan and GLA compact sport-utility vehicle. The German automaker says in a Tuesday statement that the company will make an initial investment of 500 million reals ($224 million) to build the plant in the city of Iracemapolis in Sao Paulo state.
A BP executive who led the company's efforts to halt its massive 2010 oil spill in the Gulf of Mexico testified Tuesday that his decisions were guided by the principle that they shouldn't do anything that could make the crisis even worse. James Dupree, BP's first witness for the second phase of a trial over the deadly disaster, said his teams worked simultaneously on several strategies for killing the well that blew out in April 2010.
Successful metal fabrication companies are always on a mission to improve their lead times to cut down on operating costs and to increase customer satisfaction. Many managers may try to analyze what the company does or doesn’t need, or which of the available suppliers might be cheaper and/or faster, yet provide them with their company’s specific needs without sacrificing quality in their products.
China’s overwhelming manufacturing cost advantage over the U.S. is shrinking fast. Within three years, a Boston Consulting Group analysis concludes that rising Chinese wages, higher U.S. productivity, a weaker dollar, and other factors will virtually close the cost gap between the U.S. and China for many goods consumed in North America.
A new study by the Economic Policy Institute finds that a growing trade deficit with China has cost the U.S. billions of dollars in lost wages. In 2011 alone, unbalanced trade with the People’s Republic resulted in lost U.S. wages of $37.0 billion. The EPI study cites 2.7 million U.S. jobs lost between 2001 and 2011 due to the trade gap with China, and over 2.1 million of those jobs were in the manufacturing sector.
A jury could begin deliberating as early as Tuesday to determine whether Toyota Motor Corp. should be held liable for the death of a California woman who was killed when her Camry apparently accelerated and crashed despite her efforts to stop.
A Union County man accused of selling thousands of counterfeit airbags has been sentenced to seven years in prison. Prosecutors say Igor Borodin sold more than 7,000 airbags on eBay that he obtained from Chinese manufacturers. Borodin, 27, pleaded guilty last October to trafficking in counterfeit airbags and delivering hazardous materials for air transportation.
Federal officials have cited an upstate New York manufacturer for 16 safety violations after a fatal forklift accident. National Pipe and Plastics, Inc. of Vestal has been cited by the Occupational Safety and Health Administration for serious violations of workplace health and safety standards.
Sales fell at General Motors, Toyota, and Volkswagen in September, an odd month that appears likely to snap a 27-month streak of gains for the American auto industry. But Ford and Chrysler appeared to have outperformed the industry, with sales on the rise.
American Crystal Sugar will default on a government loan of $71.2 million under a program that provides relief when a glut of sugar on the market depresses prices. David Berg, the company's president and CEO, said that forfeiting the sugar put up as collateral was the best option, given the very low prices that sugar is fetching.
Bridgestone will keep running its passenger car tire plant in Italy, dropping an earlier plan to close it in 2014, on the condition that the plant's productivity and costs improve, the Japanese firm's European arm said. An agreement was signed by all stakeholders including local institutions, the Ministry of Welfare and trade unions to implement a plan for the plant to focus solely on tires for general use, Bridgestone Europe NV/SA said.
The Insurance Institute for Highway Safety released the results of its first crash avoidance test for several car models. Both the Subaru Outback and Legacy received the highest ratings, while the Infiniti JX performed poorly.
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Congress plunged the nation into a partial government shutdown Tuesday as a protracted dispute over President Barack Obama's signature health care law reached a boiling point, forcing some 800,000 federal workers off the job. Obama readied a midday statement to the nation as Democrats and Republicans maintained a blame-each-other duel on Capitol Hill.
A Bozeman company that produces brass casings for ammunition manufacturers and individuals who load their own ammunition faces a possible $45,500 fine for failing to protect its employees from lead exposure, federal workplace safety regulators said Monday.
German carmaker BMW is recalling 176,000 vehicles from the model years 2012 to 2014 over a problem with the power brake system. The company says in rare cases an interruption in the oil supply to a part can mean the loss of power braking assist. The brakes will still work, but the driver would have to press harder on the pedal.
The City of Hattiesburg is suing Hercules Inc. and parent company Ashland Inc., claiming groundwater contamination from a closed factory may leach into the city's water supply. The city filed suit Thursday in federal court in Hattiesburg.
The drugmaker Merck said Tuesday that it plans to cut another 8,500 jobs as part of a plan to reduce its annual costs by about $2.5 billion by the end of 2015. In addition, Merck will move its headquarters from Whitehouse Station, N.J., to existing facilities in Kenilworth, N.J.