A former Halliburton manager apologized to his family and friends Tuesday before a federal judge sentenced him to one year of probation for destroying evidence in the aftermath of BP's massive 2010 oil spill in the Gulf of Mexico.
Chipmaker Texas Instruments Inc. said Tuesday that it will cut 1,100 jobs worldwide, about 3 percent of its workforce, to trim costs and will reduce its investments in certain markets. The company said the cuts in its embedded processing unit and in Japan will result in $130 million in annual savings by the end of 2014. The job cuts are in the U.S., India, and Japan.
A steel company based in suburban-Chicago is planning to open a plant in the Athens area. The Decatur Daily reports Nexus AG Holdings is buying a 300,000 square-foot building from Calhoun Community College and Alliance Steel will put a steel coil company in the building.
Michigan-based Janesville Acoustics announced that the plant will supply the Chevrolet Malibu model built at GM's Fairfax plant in Kansas City, Kan. The plant is expected to create 164 jobs in the next two years.
The National Highway Traffic Safety Administration seeks to upgrade standards for child seats for children weighing up to 40 pounds to include a new test that simulates a side crash. The agency estimates the standards will prevent the deaths of about five children and injuries to 64 others each year.
None of the 12 minicars tested got the highest rating of "good" from the Insurance Institute for Highway Safety. The Chevrolet Spark was the only car that earned the second-highest rating of "acceptable." Six of the cars — including the segment's best-seller, the Nissan Versa — got the lowest rating of "poor."
3D printing took another leap forward when Michigan Technological University scientists invented a 3D metal printer available at a relatively affordable price. While the machine is still a work in progress, it opens up the possibility of 3D metal printing for medium and small businesses, and even dedicated hobbyists. Here are some possible pros and cons that result from affordable, open-source 3D metal printers.
The rising cost of energy has forced many manufacturers to focus their sights on innovative ways to optimize energy consumption and improve operational efficiency in their manufacturing, product lines, distribution, and administrative operations.
The TS4000H Intelligent Toxic Gas Detector from General Monitors delivers accurate ammonia detection and protection, offering reliable monitoring for a variety of applications.
Larson Electronics has announced the release of a 240 Watt Explosion Proof LED Wall Pack Light fixture that provides operators with a powerful and energy efficient alternative to traditional hazardous location luminaires.
Mark Reuss, President, GM North America discusses why electric cars are crucial to GM.
The HELLA Group, one of the world's leading automotive suppliers, has officially opened its fifth production plant in Mexico - a $90 million facility built in just eleven months in Irapuato in the State of Guanajuato. The new industrial complex will generate approximately 1,500 new jobs over the medium term.
Chinese state media say police seized almost 60,000 suspects involved in intellectual property infringement cases with a total estimated value of $28 billion in 2013. The official Xinhua News Agency says more than 90 million tons of counterfeit and substandard goods were confiscated last year, and more than 1,000 criminal networks smashed.
At the end of December 2013, Volvo Construction Equipment’s site in Braås, Sweden, completed its journey towards becoming carbon dioxide neutral. It is the first construction equipment production facility in the world to be powered entirely by renewable energy.
As previously announced, Chrysler Group and the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (the UAW) have entered into a memorandum of understanding to supplement Chrysler Group’s existing collective bargaining agreement.
Bombardier says it plans 1,700 layoffs from its aerospace division. The Montreal-based company told employees Tuesday that the cuts are required due to delays in the launch of new planes and tough market conditions. Bombardier Inc. says it needs to preserve cash.
Hedge fund Third Point LLC says it has acquired a stake in Dow Chemical and wants the company to spin off its petrochemicals division. Dow Chemical Co. shares jumped $2.25, or 5.2 percent, to $45.32 in morning trading after rising as high as $46.70 earlier. Third Point says Dow is now its biggest investment.
Activist investor Nelson Peltz is no longer pushing for a deal between PepsiCo and Mondelez, after Mondelez on Tuesday named him to its board. Mondelez, which makes Oreo and Chips Ahoy cookies, says the appointment expands its board to 12 members and that Peltz will be among its nominees for election at its shareholders meeting.
The European Union says it is suspending a part of the free trade negotiations with the United States to hold a three months-long public consultation amid worries about the deal's proposed rules for investment. EU trade chief Karel De Gucht said Tuesday "some people in Europe have genuine concerns" about the planned investment agreement and the EU therefore seeks their input.
SABMiller PLC, one of the world's biggest brewers, says demand in emerging markets fueled sales in the third quarter, which ended Dec. 31. Chief Executive Alan Clark says in a statement Tuesday that growth in Africa, Latin America and China helped overall revenue grow 4 percent despite weaknesses in the North American and European markets.