NEW ORLEANS (AP) — A Chinese drywall supplier's insurers have agreed to pay up to $8 million to settle court claims against the company over damage to homes from the corrosive product, according to a proposed settlement filed Tuesday. U.S. District Judge Eldon Fallon in New Orleans must approve the deal between plaintiffs' attorneys, Interior/Exterior Building Supply and two of its three insurers.
DETROIT (AP) — Details are still being worked out, but Chrysler Group LLC on Thursday will make an announcement about a refinancing package that will repay its government loans, according to a person briefed on the matter. Final details are likely to be revealed Monday, when Chrysler releases its first-quarter financial results, said the person, who asked not to be identified because the company is still negotiating the package with banks.
WASHINGTON (AP) — Businesses increased their orders for heavy machinery, computers, autos and steel in March, boosting demand for long-lasting manufactured goods for a third straight month. Orders for durable goods rose 2.5 percent in March, the Commerce Department said Wednesday.
HELSINKI (AP) — Nokia Corp. said Wednesday it will slash 7,000 jobs worldwide, through both layoffs and outsourcing, as it strives to cut costs and catch up with its top rivals in the smartphone market. Most of the 4,000 layoffs, due by the end of 2012, will be in Denmark, Finland and Britain, Nokia said.
TEXAS CITY, Texas (AP) — Schools canceled classes and residents were urged to stay inside Tuesday after power outages shut down three Houston-area refineries, including BP unit where a 2005 explosion killed 15 people, and a Dow Chemical plant. Emergency officials were working to determine what caused the Texas City outages, which a spokeswoman for Texas New Mexico Power company said involved a "customer-owned equipment problem.
NEW YORK (AP) — Stronger earnings reports from Ford and 3M helped drive stocks higher Tuesday. The Dow Jones industrial average rose 101 points, or 0.8 percent, to 12,581. The Standard & Poor's 500 index rose 12 points, or 0.9 percent, to 1,347. The Nasdaq composite rose 25 points, or 0.
Field Notes produces a number of high-quality notebooks for writers, journalists, and artist, but what’s probably more interesting to you all is the way these books are made. Their contracted printers, Freeport Press and Flywheel Letterpress , show off some of the machinery that’s used in the production.
NEW YORK (AP) — 3M Co. is raising its earnings expectations for the year, saying higher sales around the globe will offset the disruption to its business in Japan from the earthquake there. The Maplewood, Minnesota maker of Post-Its and Scotch Tape now expects to earn between at $6.27 to $6.
Lyon Workspace Products (Aurora, IL) has announced the new Essential Solutions Catalog, which is a 65-page overview of the company’s best-selling storage, locker, and workspace solutions. The full-color catalog features all-welded storage cabinets, lockers, workstations, ergonomic seating, shop furniture, tool storage, modular drawer cabinets, shelving, and storage racks.
Hittite Microwave Corporation (Chelmsford, MA) is offering two full-featured Fractional-N PLLs with integrated Voltage Controlled Oscillators (VCOs) — the HMC837LP6CE and HMC840LP6CE — with a low-noise VCO and a precision charge-pump. According to the company, they feature exact frequency mode operation, deliver phase noise and spurious performance, and consume only 630 mW.
Cleaver-Brooks (Milwaukee, WI) has launched the CBEX, an integrated boiler, burner, control, and heat recovery system that achieves higher fuel efficiency and lower emissions in a 15 percent smaller footprint. According to the company, the system can meet today’s tougher emissions requirements, including 5 ppm NOx without selective catalytic reduction and 1 ppm CO.
Master Bond (Hackensack, NJ) has developed the EP30LTE-LO, which uses a special blend of polymeric and inorganic materials. The two-component epoxy combines outstanding performance with a low thermal expansion coefficient. According to the company, it is serviceable over the wide range of -60 to 250°F, and cures at room temperature, with 85 percent of its maximum strength developed within 48 hours.
MOUNTAIN VIEW, Calif. (AP) — Amid all the free food and other goodies that come with a job at Google Inc., there's one benefit a lot of employees don't even know about: a cluster of high-tech workshops that have become a tinkerer's paradise. Workers escape from their computer screens and office chairs to weld, drill and saw on expensive machinery they won't find at Home Depot.
Coming off a two-day stint of gripping jury duty, I’ve cemented my belief that our culture is too eager to self-diagnose, place blame, and sue anything that may negatively impact our lives, regardless of fault. Long story, short: Woman A is loading groceries into the trunk of her car.
Nissan Motor Co. is recalling nearly 200,000 Pathfinder and Infiniti QX4 sport utility vehicles sold in the U.S. because of a problem that could cause the steering column to break and the driver to lose control of the vehicle. The recall, announced Monday, comes mere months after Japan's No. 2 automaker launched two other major recalls, including one that involved more than 2 million vehicles.
BEIJING (AP) — Chinese protectionism has increased since the 2008 global crisis and U.S. companies are being hurt by Beijing's policies aimed at developing its technology industries, a business group said Tuesday. A report by the American Chamber of Commerce in China adds to mounting complaints that Beijing is violating the spirit of its free-trade pledges by limiting market access and trying to shield its fledgling technology industries from competition.
STOCKHOLM (AP) — Spyker Cars says conditions proposed by the European Investment Bank are stalling plans to secure financing for troubled automaker Saab. Spyker says it will meet EIB officials later Tuesday but is also considering other financial options with partners, including Chinese car manufacturers.
CRANBERRY, Pa. (AP) — A company that makes windows and doors plans to hire 280 full-time and seasonal workers at its plant near Pittsburgh. Alcoa Inc. bought the window company, Traco Inc., in August. And now an Alcoa spokesman tells the Pittsburgh Tribune-Review the aluminum giant plans to add workers at Traco's plant in Cranberry, about 20 miles north of Pittsburgh.
DETROIT (AP) — The Chevrolet Volt and Nissan Leaf got top safety ratings in some of the first-ever tests of electric cars by an insurer-funded research group. Both cars earned top scores for front, side and rear-impact crashes and for rollover crash protection, according to results released Tuesday by the Insurance Institute for Highway Safety.