STOCKHOLM (AP) -- Bankrupt Canadian telecom group Nortel Networks Corp. on Friday said it is selling all of its remaining patents and patent applications to a consortium including Apple, EMC, Ericsson, Microsoft, Research In Motion and Sony for $4.5 billion in cash. Ontario-based Nortel has been selling its operations piece by piece since it filed for bankruptcy protection in Canada and the U.
FORT WORTH, Texas (AP) -- Defense contractor Lockheed Martin Corp. plans to cut 1,500 jobs in its airplane-making business, saying it needs to cut costs due to the prospect of limited defense spending. The announcement Thursday comes two weeks after the company announced 1,200 job cuts in its space systems equipment division.
BARBERTON, Ohio—Alcoa announced today it will install an advanced recycling and casting process that will reduce energy consumption and greenhouse gas emissions as part of a $21 million expansion of B&C Research, part of the company's Wheel and Transportation Products business. The Alcoa investment will create 30 full-time jobs and help protect more than 350 existing positions.
SHANGHAI (AP) — Chinese manufacturing slipped to its slowest pace in 28 months in June, sapped by inflation-fighting curbs on credit and weaker overseas demand, according to surveys released Friday. The China Federation of Logistics and Purchasing said its monthly purchasing managers index fell to 50.
NEW YORK (AP) — Manufacturing activity recovered somewhat in June from a sharp slowdown in May, a private trade group said Friday. There were more new orders for goods and employment picked up last month. But the index remains markedly lower than it was earlier this year, suggesting that the recovery is weak.
DETROIT (AP) — General Motors says its U.S. sales rose 10 percent in June as lower gas prices brought more customers into its showrooms. The Detroit car company says it sold 215,000 cars and trucks last month. Sales were led by smaller, more fuel-efficient models, but GM says cheaper gas also lured more truck buyers.
Joan Lowy, Associated Press WASHINGTON (AP) — The industry behind corporate jets was scrambling Thursday to fend off President Barack Obama's proposal to eliminate a tax break that encourages businesses to purchase the planes, saying it will hurt the economy and cost jobs. Aircraft manufacturers, fuel suppliers, repair services and other segments of the industry employ 1.
Joshua Freed, Associated Press Sam Hananel, Associated Press WASHINGTON (AP) — A federal judge on Thursday denied Boeing Co.'s request to toss out a government lawsuit that claims the company illegally retaliated against unionized workers by moving some work from Washington state to South Carolina.
ASHEVILLE, N.C. (AP) — A Canadian auto-parts maker says it will move into in a factory that shut down more than a year ago and employ 363 workers. Gov. Beverly Perdue's office said Thursday Linamar Corp. will start production in 2012. Ontario-based Linamar produces precision metal parts for vehicle and power generation markets around the world.
WASHINGTON (AP) — The U.S. manufacturing sector likely expanded last month at the slowest pace in nearly two years and just after the recession ended. Economists expect the Institute for Supply Management's index of manufacturing activity fell to 52 in June, according to a survey by FactSet.
Nomaan Merchant, Associated Press LITTLE ROCK, Ark. (AP) — Six people remain in the hospital after an accident caused chlorine gas to fill part of a Tyson Foods Inc. plant in northwest Arkansas. Company spokesman Gary Mickelson said Thursday that none of the six are in intensive care.
BALTIMORE (AP) — A Baltimore fire spokesman says an employee was crushed to death at a bottling plant. Fire spokesman Kevin Cartwright says the identity of the employee and other details surrounding the accident Wednesday morning were not immediately available. The fire spokesman says investigators were at the scene trying to determine how the accident occurred.
Andrew DeMillo, Associated Press LITTLE ROCK, Ark. (AP) — Yarnell's Premium Ice Cream announced Thursday that it has to lay off 200 workers and shut its doors after nearly 80 years in business because of a decline in ice cream sales and rising prices that it says has hit the industry hard.
OXFORD, Miss. (AP) — Winchester Ammunition has plenty of applicants for the 200-250 jobs it hopes to fill by the end of the year for its Oxford, Miss. operation. The company is transferring its Centerfire operations from East Alton, Ill., over the next five years and will employ some 800 workers.
BOULDER, Colo. (AP) — Ball Aerospace & Technologies Corp. says its expanded manufacturing center outside Denver will help it supply antennas for the F-35 Lightning II aircraft that Lockheed Martin is building. Ball held a ribbon-cutting ceremony Wednesday for the plant in Westminster.
Erika Niedowski, Associated Press PROVIDENCE, R.I. (AP) — John Russo's chemical lab in North Kingstown has been growing in recent years, even despite a deflated economy, and he expects to add another 15 to 20 positions to his 49 employees over the next year. But the president of Ultra Scientific Analytical Solutions has found himself in a vexing spot, struggling to fill openings that require specialized training in a state where the jobless rate is close to 11 percent, the third-highest in the nation.
ATLANTA (AP) — Caterpillar Inc. is investing $120 million in its Spalding County facility and expects to create at least 200 more jobs in Georgia. The Peoria, Ill.-based company is upgrading its Griffin Engine Center in Spalding County. Georgia Gov. Nathan Deal called Caterpillar "one of the world's most recognizable and successful brands.
Kurt Voigt, Associated Press Nomaan Merchant, Associated Press SPRINGDALE, Ark. (AP) — A solution of chlorine was poured into a drum of acid inside a Tyson Foods Inc. chicken processing plant in Arkansas this week, creating chlorine gas that sickened more than 170 people, authorities said in a report obtained Wednesday by The Associated Press.
John Milburn, Associated Press TOPEKA, Kan. (AP) — Chocolate maker Mars Inc. said Wednesday it had chosen a site in Topeka for its newest manufacturing plant that will initially bring 200 jobs to northeast Kansas. Officials with the company, city and state said that the project is the largest single investment in the Topeka economy in the city's history.
RICHMOND, Va. (AP) — ABB Inc. is planning a $4.6 million expansion of its manufacturing facility in Virginia's Halifax County. Gov. Bob McDonnell announced the expansion Wednesday in a news release. McDonnell says the expansion will create 15 jobs and preserve 140. The facility produces liquid-cooled transformers for large utility, industrial and government users.