LOS ANGELES (AP) — Tim Cook could well end up being the highest paid CEO in America in 2011, after Apple Inc. granted him a million restricted stock units last August for taking the reins shortly before co-founder Steve Jobs died. An Associated Press review of a securities filing shows Cook's pay package was valued at $378 million.
DETROIT, Jan. 10 (Kyodo) — Japanese automakers showed their recovery from last year's devastating disaster in their home country by introducing new hybrids and other models with better fuel economy and improved performance on the second day of the annual North American International Auto Show that opened Monday.
Alcoa Inc. on Monday started off the earnings season by posting its first net loss in more than a year. The New York manufacturing giant's profits dwindled in the fourth quarter with fewer orders for its products as uncertainty grew about the impact of Europe's debt crisis on the global economy.
DETROIT (AP) — General Motors Co. is on track to retake the title of world's top-selling automaker, riding strong sales in the U.S. and China to beat Volkswagen and Toyota. GM, which lost the crown to Toyota in 2008 after holding it for more than seven decades, won't release global sales numbers until later this month, but it's on pace to finish 2011 at around 9 million cars and trucks, at least 800,000 more than its German and Japanese rivals.
LAS VEGAS (AP) — AT&T on Monday said it will sell a Nokia smartphone running Microsoft's Windows Phone software. The device represents Nokia and Microsoft's best chance yet to break Apple and Google's hold on the U.S. smartphone market, the world's most lucrative. Nokia Corp.
BEIJING (AP) — China's import growth showed an unexpectedly sharp drop in December in a new sign the world's second-largest economy is slowing. December growth in imports fell to 11.8 percent, barely above half the previous month's 22.1 percent gain, customs data showed Tuesday. Exports rose 13.
HOUSTON (AP) — The family of a man who was fatally shot by an undercover suburban Dallas police officer during a drug bust has filed a lawsuit alleging that a badly designed flashlight mounted on the officer's handgun led to the death. Michael Anthony Alcala, 25, was shot and killed on Oct.
LAS VEGAS (AP) — Talking to the TV is usually a sign of extreme agitation, mental instability or loneliness. TV manufacturers are set to make it a more rational behavior this year, with a range of sets that respond to speech. LG Electronics on Monday said it will sell a remote with its high-end flat-panel TVs that contains a microphone.
FRANKFURT (AP) — German automaker Volkswagen AG expects a tough 2012 even as it reported record sales of more than 8 million vehicles last year that put it ahead of Japan's Toyota Motor Corp. Volkswagen said in a statement on Monday that it delivered 8.156 million vehicles in 2011, a 14 percent rise over the previous year.
TOKYO, Jan. 9 (Kyodo) — Scandal-hit Olympus Corp. has filed a damages suit against former Chairman and President Tsuyoshi Kikukawa as well as current and former executives over the concealment of massive investment losses, sources close to the matter said Monday. The camera and endoscope maker is believed to be seeking several billion yen in damages.
WASHINGTON (AP) — Employers can't require workers to sign arbitration agreements that prevent them from pursuing group claims in court, the National Labor Relations Board said Friday, in a decision that some experts say could have wide repercussions. The NLRB said agreements that required private sector workers to make claims only as individuals and only to an arbitrator violated their right to join together in "concerted action" under the National Labor Relations Act.
DETROIT (AP) — Chevrolet is aiming a pair of concept cars at the growing number of drivers in the Millennial generation, giving them a look Monday at what the outside of the coupes might look like and asking them to help design the interiors. The General Motors Co. brand unveiled the Code 130R and Tru 140S at the North American International Auto Show in Detroit.
MORGANTOWN, W.Va. (AP) — Fourteen families who blame ailments ranging from rashes to cancer on long-term exposure to a former DuPont zinc-smelting plant have until March 15 to produce new evidence or risk seeing the case thrown out. Harrison County Circuit Court Judge Thomas Bedell warned in a ruling last week that he is likely to grant DuPont's motion for summary judgment and dismissal if the plaintiffs can't produce more substantial evidence or testimony from an expert witness who says their injuries were caused by pollution from the plant.
LAS VEGAS (AP) — Developing countries like China and India will drive global sales of consumer electronics above $1 trillion this year for the first time, even as cash-strapped shoppers in the U.S. and Western Europe ease off spending for high-tech gear, industry analysts said Sunday.
DETROIT (AP) — The Hyundai Elantra edged out the Ford Focus and Volkwagen Passat Monday to win the 2012 North American Car of the Year award. The prestigious industry award was announced at the start of the North American International Auto Show in Detroit, which hosts media previews this week and opens to the public on Saturday.
DEARBORN, Michigan (AP) — The U.S. Energy Department won't follow through on a planned $730 million loan to the North American arm of one of Russia's largest steel companies to modernize its Detroit-area plant. The Detroit News and Detroit Free Press reported Friday that the conditional loan for the Severstal North America project in Dearborn won't be finalized.
WASHINGTON (AP) — President Barack Obama is highlighting companies that have returned jobs to the U.S. and he says that's one more way of putting people back to work. The White House plans a forum Wednesday, called "Insourcing American Jobs," that will bring together business leaders who shifted work back home.
DETROIT, Jan. 9 (Kyodo) — Coming out of another tough economic year, automakers will kick off the annual North American International Auto Show on Monday in Detroit, emphasizing their confidence in the future with vehicles targeted at consumers expected to buy more vehicles. Though the industry is expected to focus on fuel economy and the environment as they did in last year's show, forecasts for improved sales in 2012 have given carmakers the needed boost to promote their products.
TOPEKA, Kan. (AP) — Some Kansas officials felt betrayed when they learned Boeing Co. was contemplating closing its defense plant in Wichita, and the area's congressman says he's researching whether the company can be held to promises to bring thousands of jobs to the Sunflower State. But the state's leaders are pursuing another path, too, insisting that Wichita still will be able to define itself as the aircraft manufacturing capital of the world even without the Boeing plant.
WICHITA, Kan. (AP) — A dispute between two companies over a halted $354 million contract for an Air Force light air support plane spilled into the public arena Friday, with the rivals arguing about how many people they would employ for the project and which one had the better U.S.-built airplane.