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.
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.
Ford Motor Co. reported a better-than-expected $1.6 billion profit in the first quarter as growing demand in the U.S. and China for its new vehicles helped overcome steep losses in Europe and South America. Ford said Wednesday that first-quarter net income rose 15 percent from a year ago. Worldwide sales rose 10 percent to nearly 1.5 million.
Toyota held onto its status as the world's top-selling automaker in the first quarter of this year, although the three-way race with General Motors and Volkswagen is proving tight, as its sales fall in China and Japan. Toyota Motor Corp. reported Wednesday it sold 2.43 million vehicles during the January-March period.
South Carolina Gov. Nikki Haley on Tuesday signed legislation to provide $120 million in incentives to the Boeing Co. for its expansion plans in the state. "Boeing is a part of the fabric of South Carolina, and this solidifies our relationship with Boeing going forward," Haley spokesman Rob Godfrey said.
Hostess Brands, LLC has announced plans to re-launch its bakery in Columbus and plans to add about 300 jobs in the area over the next several years. The Georgia Department of Economic Development Tuesday announced the company plans to resume operations this summer and will produce a full assortment of iconic Hostess snack products — including Twinkies.
Apple is opening the doors to its bank vault, saying it will distribute $100 billion in cash to its shareholders by the end of 2015. At the same time, the company said revenue for the current quarter could fall from the year before, which would be the first decline in many years.
U.S. traffic safety regulators are expected to propose stronger measures to keep drivers from being distracted by in-car touchscreens. Transportation Secretary Ray LaHood and National Highway Traffic Safety Administration Administrator David Strickland have scheduled a news conference for Tuesday afternoon to address distracted driving.
A now-defunct Texas company that put mentally disabled men to work at an Iowa turkey plant for decades is due in court to defend itself against allegations that it subjected the men to physical and verbal abuse. The U.S. Equal Employment Opportunity Commission is suing Henry's Turkey Service on behalf of 32 former workers.
Polish national airline LOT said Tuesday its Boeing 787s, which had been grounded for months due to battery problems, will resume flying in June and that it will seek compensation from the U.S. plane maker. The world's total fleet of 50 Boeing 787s has been grounded since Jan. 16.
A recently reopened southern Minnesota ethanol plant has shut down again, and its top executives have been fired amid a bitter bankruptcy fight. Only 10 of Purified Renewable Energy's 23 employees remain on the job at the Buffalo Lake plant, and the operation has just enough borrowed money to last a few weeks, the Star Tribune of Minneapolis reported Tuesday.
AK Steel Holding Corp. said Tuesday that its first-quarter loss narrowed, as a drop in operating costs offset lower sales. The West Chester, Ohio, company lost $9.9 million, or 7 cents per share, compared with a loss of $11.8 million, or 11 cents per share, in the same quarter last year. The loss was smaller than Wall Street expected. Analysts, on average, expected a loss of 11 cents per share, according to FactSet.
The Supreme Court says it will hear an appeal from automaker Daimler AG that seeks to shut down a U.S. lawsuit over allegations that its unit in Argentina played a role in that country's 'dirty war" in the 1970s. The justices said Monday they will review a federal appeals court ruling that allowed a lawsuit filed by 22 Argentines in California to proceed.
Through an agreement with The National Authority for Government Innovation, 4Sight will help the Government of Panama continue its mission to achieve technological excellence by improving interoperability of systems, optimizing processes, advancing quality control and continuous improvement, and facilitating Business Intelligence.
The Obama administration has seized $21 million from troubled automaker Fisker Automotive Inc. just weeks after the company laid off three-fourths of its workers amid continuing financial and production problems. Fisker had received $192 million in federal loans before a series of problems led U.S. officials to freeze the loan in 2011.