WASHINGTON (AP) — Defense cuts sought by House Republicans in fiscal 2012 are unlikely to hurt "modernization, readiness" or the bottom lines of top aerospace contractors, an analyst said Tuesday. In a plan released Monday, the GOP-controlled panel that approves defense budgets barely touched major programs and cut modestly from others compared to the president's budget request, Jeffries analyst Howard Rubel said in a research note.
NEW YORK (AP) — Stocks are shaking off a two-week slump after retailers had better sales in May than analysts had predicted. The Dow Jones industrial average climbed back above 12,000, and all three major indexes are on track to have their best day so far in June. The government reported Tuesday that retail sales edged down 0.
LANSING, Mich. (AP) — A state board has approved tax incentives for projects connected to General Motors and other companies in Michigan. The Michigan Economic Growth Authority on Tuesday approved an amended brownfield tax credit valued at $10 million for GM's Van Slyke complex in Flint. The new project is expected to retain up to 185 jobs.
MADRID (AP) — U.S. automaker Ford has announced an €812 million ($1.2 billion) investment for its plant in the Valencia region of eastern Spain. Ford Europe chief executive officer Stephen Odell said at an event in Valencia Tuesday the investment will create hundreds of jobs in a country with a 21 percent unemployment rate.
ATLANTA (AP) — The Food and Drug Administration found traces of listeria at a Kellogg Co. bakery in Augusta, Ga., during an inspection earlier this year. In a letter released Tuesday, regulators say that the pathogen was found in several spots along the production line that comes in direct contact with food.
Ex-Siemens manager charged in bribery case BERLIN (AP) — German prosecutors said Tuesday they have filed charges against a former member of Siemens AG's board over millions of dollars in alleged bribe payments in Argentina. Munich prosecutors said the former manager is charged with three counts of breach of trust.
One Pennsylvania-based musician thinks he has the (right) solution to the country's energy crisis. Soon after Brandon Hollinger managed to turn his old Saab into an electric vehicle, he developed a business to transform other gas-guzzling vehicles into eco-friendly transportation options. If you’re having trouble watching this video, try downloading the latest version of Flash Player or contacting your IT department.
The Constitution of the United States (Article I, Section 8, Clause 8) grants to Congress the powers to promote "the progress of science and useful arts" by providing inventors the limited but exclusive right to their discoveries. This applies to copyrights and patents, with trademarks similarly protected by Congress under the Commerce Clause (Article I, Section 8, Clause 3).
Life has a way of coming full circle. As kids, our focus is all about fun. At some point, however, most of us turn serious. In fact, we turn on people who have too much fun and think of them as "immature." By the time we become seniors many will shed their seriousness, and while some could be labeled as "eccentric," most are just having fun.
The Eco-Mag high-intensity magnetic filter, from Magnetic Products, Inc. (MPI; Highland, MI), improves filtration efficiency by using high-power neodymium Rare Earth magnets to remove ferrous and para-magnetic contamination. According to the company, it is effective with machine tool oils, coolants, and hydraulic fluid machinery systems.
Kaeser Compressors, Inc. (Fredericksburg, VA) has lunched two additions to its Com-paK Plus family of blower packages. The EB 291C and EB 421C models offer side-by-side installation, plus low noise and vibration. They also use the company’s tri-lobe blowers, and have an enhance airflow design that improves both efficiency and heat removal.
Dematic (Grand Rapids, MI) has launched its RapidPick System, which uses a “goods to person” design that delivers split case items to an operator in a configuration that allows pick rates up to 1,000 line items per hours. According to the company, it offers high pick accuracy because only one SKU is presented to the operator at a time, in the desired sequence.
Jackson Safety (Roswell, GA), a Kimberly-Clark Professional brand, is now offering the R60 Airmax Powered Air Purifying Respirator (PAPR), which features a NIOSH-approved HE filter for particulate contaminants that can be easily set and locked into place. It comes with fully-adjustable headgear and a welding helmet, which has a W40 series variable auto-darkening filter.
WASHINGTON (AP) — The best cure for the economy now is time. That's the overwhelming opinion of leading economists in a new Associated Press survey. They say the Federal Reserve shouldn't bother trying to stimulate the economy — and could actually do damage if it did. The economists are lowering their forecasts for job creation and economic growth for the rest of this year, mainly because of high oil prices.
BERLIN (AP) — The pilot of a Goodyear blimp screamed "I crashed the airship" before it burst into flames, a passenger who leapt to safety says. Photographer Joachim Storch told media that the blimp — The Spirit of Safety — missed its designated landing spot at Reichelsheim airfield in central Germany on Sunday evening, causing its engine to slam into the ground.
PALO ALTO, California (AP) — Hewlett-Packard Co. is streamlining its executive ranks to improve its focus on customers rather than administration and put more operations directly under CEO Leo Apotheker's control. The world's largest maker of personal computers said Monday that it is eliminating its chief administrative officer position, meaning that Pete Bocian is leaving HP immediately.
HELSINKI, Finland (AP) — Nokia Corp. on Tuesday notched a valuable win against rival Apple Inc., with the U.S. company agreeing to pay the Finnish handset maker a one-time sum to settle long-standing patent disputes as well as royalties for current licenses. Espoo-based Nokia said that the deal "will result in settlement of all patent litigation between the companies, including the withdrawal by Nokia and Apple of their respective complaints to the US International Trade Commission.
DURHAM, N.C. (AP) — Beset by a grim employment picture, President Barack Obama on Monday pledged to ease the way for businesses to expand hiring and offered assurances to an anxious public that he is focused on creating jobs — the top political issue heading into the 2012 election and the Achilles heel of his presidency.
TOKYO (AP) — Honda's profit for the fiscal year through March 2012 is expected to plunge 63.5 percent as vehicles sales slipped amid a parts shortage caused by the quake and tsunami in northeastern Japan. Honda Motor Co. gave the forecast Tuesday, more than a month later than usual. Like other Japanese automakers, the maker of the Odyssey minivan and the Fit compact needed more time to assess the aftermath of the March 11 disaster.
NEW YORK (AP) — Solar shares rose Monday, with one analyst saying that demand is accelerating and that the sector is ripe for mergers and acquisitions. Rather than fewer orders for solar panels as has been feared because of declining subsidies and a poor economy, Brean Murray Carret & Co.