General Motors Co. boosted CEO Dan Akerson's pay package by 44 percent last year, as the value of his stock awards significantly increased. Akerson earned $11.1 million in salary and stock awards last year, compared with $7.7 million in 2011. The AP's calculation counts salary, bonuses, perks and stock and options awarded to the executive during the year.
Finnish metals group Outokumpu Oyj says it will slash 2,500 jobs worldwide in the next four years to cut costs by 350 million euros ($455 million) and improve profitability as stainless steel demand continues to fall. The world's leading stainless steel maker says about a third of the job cuts will be applied this year, mostly in Germany, Sweden and Finland, in line with production capacity reductions and streamlining.
Italian automaker Fiat is considering a plan to hold a public stock offering after the company buys 100 percent of Chrysler, according to a person briefed on the matter. The plan to sell shares of a combined company is among several options being evaluated by Sergio Marchionne, who serves as CEO of both automakers, said the person, who requested anonymity because no decision has been made.
A federal agency has cited an Ohio aluminum plant with eight safety violations following the death of a worker who was crushed by a hot metal rack stacked with heavy aluminum. The federal Occupational Safety and Health Administration, or OSHA, said Thursday that Extrudex Aluminum acted with knowing disregard or plain indifference to hazards at the company's plant in North Jackson in northeastern Ohio.
Mississippi Gov. Phil Bryant is calling lawmakers back to the Capitol this Friday for what many hope will be a quick a special session to lure an auto parts maker to the state. Bryant has released few details about the project, beyond saying it's for Mississippi's "automobile corridor."
The new CopaAirlines 737 symbolizes an important change in how the 737 is built. The world's best selling airplane, the Boeing 737, is now building at its highest rate ever. In Renton, Washington, the Boeing factory is now assembling 38 planes a month.
Researchers at Georgia Tech University in Atlanta are programming robots to work together. The scientists believe that in the future, robotic swarms could play an important role in assessing threats at high profile events like the Boston Marathon where two deadly bombs went off last week. Reuters' Ben Gruber has more.
Your smartphone may feel like a friend—but a true friend would give you a smile once in a while. At TED2013, Keller Rinaudo demos Romo, the smartphone-powered mini robot who can motor along with you on a walk, slide you a cup of coffee across the table, and react to you with programmable expressions.
Engineers at the National Aeronautics and Space Administration Ames Research Center have begun experimenting with 3D printers for some spacecraft design. CNET's Sumi Das visits one of its newly open workshops, which is filled with state of the art equipment.
It's certainly one of the most talked about stocks, so what is it going to take to turn Apple's profits around? Apple's profits fell 18 percent to $9.5 billion in the second quarter. As profit margins decrease on iPads and iPhones, pressure increases on Apple to enter a new product category.
2012 saw the widespread acceptance of cloud computing, “including the validation of the model by some of the largest software companies in the world.” So as leading vendors continue to invest the resources in making this technology smarter, more reliable, and easier to use, manufacturers can do their fair share by giving these innovative solutions a little attention as well.
Virginia officials have rejected a request from electric car maker Tesla Motors to operate its own dealership at a Tysons Corner mall. State law requires manufacturers to sell cars through a dealer, unless the manufacturer can show that no dealer is available.
Boeing is aiming to begin delivering 787s again in early May. The 787 has been grounded since mid-January because of smoldering batteries. Federal authorities have approved Boeing's redesigned battery system. The new battery setup has been installed on 10 787s that belong to airlines, and on nine more that have been built but not delivered, said Boeing Co. Chairman and CEO Jim McNerney.
Europe's stubborn recession cut deeply into profits at major automakers Ford, Volkswagen and Daimler, first-quarter results showed Wednesday as the industry began reporting earnings. Germany's Volkswagen AG said its first-quarter net profit fell 38 percent to 1.95 billion euros ($2.5 billion), while Daimler AG's was down 60 percent at 564 million euros.
Mitsubishi Motors Corp. said Wednesday it has identified the cause of a battery malfunction of its Outlander plug-in hybrid electric vehicle and will take recall procedures as soon as the effectiveness of preventive measures is confirmed.
An insurance industry trade group estimates losses from a deadly fertilizer plant explosion in a tiny Texas town will likely exceed $100 million. Insurance Council of Texas spokesman Mark Hanna said Wednesday that insured losses after the explosion in West, Texas, included dozens of damaged homes, businesses and cars — as well as the costs of resettling displaced residents.
Orders for long-lasting U.S. factory goods fell in March by the most in seven months. The drop reflected a steep decline in commercial aircraft demand and little growth in orders that signal future business investment. The Commerce Department said Wednesday that orders for durable goods declined 5.7 percent in March. That followed a 4.3 percent gain in February, which was revised lower.
The Solar Impulse, a solar power plane, is being prepped to fly across America - and right into aviation history. "Miracle on the Hudson" pilot Chesley "Sully" Sullenberger met with CBS's John Blackstone to watch the takeoff, and discusses the importance of the flight.
Wirelessness alone doesn't make for truly usable mobile devices — just ask the professionals who’ve dropped cell phones into water, vibrated tablets to death on their dashboards, or watched PDA screens shatter as they hit the ground. To continue to drive true workforce mobility, data devices need to be compact, connectable, quick and able to withstand whatever they encounter — whether that’s a river, a sandstorm or a warehouse floor.
Newly released documents show that the Obama administration was warned as early as 2010 that electric car maker Fisker Automotive Inc. was not meeting milestones set up for a half-billion dollar government loan, nearly a year before U.S. officials froze the loan after questions were raised about the company's statements.