Mitsubishi Motors North America plans to produce a new model at its plant in Normal, Ill., extending the life of the facility just a month after employees agreed to lower wages the company said were needed to keep it open. Mitsubishi announced the plans as part of new, global business plan aimed at revitalizing the troubled Japanese automaker.
NEW YORK (AP) — Heavy equipment maker Caterpillar is urging a stronger trade relationship between the U.S. and China on the heels of the Chinese president's visit to the U.S. The Peoria, Ill., company, the world's largest maker of construction and mining equipment, said Friday it inked a memorandum of understanding as part of the U.
DETROIT (AP) — The new chief of product development at GM holds what is arguably the most important job in the company: coming up with cars and trucks that people want. There also are a few extra goals on Mary Barra's list: Make the stuff faster and raise its quality. Barra, a 30-year veteran of General Motors, was named head of global product development on Thursday.
COLUMBIA, S.C. (AP) — South Carolina Gov. Nikki Haley is facing her first big lawsuit after saying the state would try to keep unions out of the Boeing Inc. plant in North Charleston. The lawsuit filed Thursday in U.S. District Court in Charleston by the International Association of Machinists and AFL-CIO asked for a court order telling Haley and her director of the Department of Labor, Licensing and Regulation to butt out and remain neutral in matters concerning union activities.
Apple Inc.'s stellar holiday-quarter results were enough to make investors forget, at least for the moment, that CEO Steve Jobs is taking another medical leave of absence. The company was able to boost production of iPads faster than analysts predicted, and shoppers bought iPhones as fast as Apple could make them, helping drive the company's fiscal first-quarter net income up 78 percent from the prior year.
DETROIT (AP) — Ford will retain nearly 3,750 jobs and build a new vehicle at a Missouri plant that was in danger of closing. Ford is ending production of the Escape SUV later this year at the Claycomo plant near Kansas City. It will make the new Escape in Louisville, Kentucky. The company won't say which new product is coming to the Missouri plant.
NEWARK, N.J. (AP) — Two men who authorities say were competing to impress their fellow hackers were arrested Tuesday on federal charges they stole the e-mail addresses of more than 100,000 Apple iPad users, including politicians and media personalities. The theft and the AT&T security weakness that made it possible were revealed months ago, and U.
WASHINGTON (AP) — President Barack Obama is lavishing the grandest of White House welcomes on Chinese President Hu Jintao as the leaders of the world's two top powers try to find common ground on economic and security issues without alienating their domestic audiences. With many Americans blaming China at least in part for the high U.
NEW YORK (AP) — Deere & Co. said Wednesday that it will spend about $100 million to build a new factory in India and expand an existing tractor plant in an effort to keep up with anticipated demand there. John Deere India has been the largest exporter of agricultural machinery from India for the past 5 years.
BOSTON (AP) — Massachusetts expects to recover about $13 million from the abrupt shutdown of a solar panel manufacturer that had received tens of millions in state aid, a top Patrick administration official said Tuesday. Economic Development Secretary Greg Bialecki said the $13 million includes a portion of the grants and benefits the state offered Evergreen Solar to encourage it to build its plant in Devens.
SAN FRANCISCO (AP) — If the past is any indication, Tim Cook's mastery of inventory management and his high expectations of employees should leave Apple Inc. in good hands while its charismatic leader, Steve Jobs, takes a medical leave of absence. Apple said Monday that Cook, the chief operating officer, will take charge of the iPhone and iPad maker as Jobs focuses on his health.
CHICAGO (AP) — Boeing Co. is pushing back the delivery date for its new 787 until at least July. The jet has been delayed several times already. Its most recent delivery target was for next month. But an electrical fire on a test plane in November put a halt to flight testing. Another delay has been widely expected ever since the fire.
WASHINGTON (AP) — Taking another step toward mending his relationship with the business community, President Barack Obama will order a review of federal regulations with an eye toward getting rid of those that stifle job creation and hurt economic growth The president planned to sign an executive order Tuesday telling federal agencies to look for rules that place an unreasonable burden on businesses.
WASHINGTON (AP) — U.S. companies have long demanded that China let its currency rise to make U.S. exports cheaper. But as President Hu Jintao visits Washington this week, U.S. companies are stressing other goals: Stopping the theft of intellectual property. And getting a fair chance to win government contracts.
BERLIN (AP) — A German company involved in the building of European navigation system Galileo says it has removed its chief executive after he was quoted in a cable obtained by WikiLeaks as describing the project to a U.S. official as "a stupid idea." OHB-System AG said late Monday that the supervisory board decided to revoke Berry Smutny's appointment as CEO.
WASHINGTON (AP) — The future of the United Auto Workers union is directly tied to its ability to sign up workers at U.S. plants owned by foreign-based car companies, the union's leader said Monday. In a speech to union members, UAW President Bob King laid out in stark terms the importance of the union's work to organize a plant owned by a Japanese, South Korean or German competitor to the Detroit Three.
BEIJING (AP) — In late 2009, President Barack Obama and his Chinese counterpart Hu Jintao announced an ambitious array of joint clean energy research projects touted as a mark of a maturing relationship and an alliance to fight climate change. A year after Obama's visit to China, the envisioned partnership has largely evaporated.
NEW YORK (AP) — General Motors is expanding an earlier recall of some 2011 model-year trucks and SUVs to fix a problem that could cause the vehicles' rear axles to lock. The recall, originally announced in December, now covers 26,751 Cadillac, Chevrolet and GMC trucks and SUVs. The models affected are: Cadillac Escalade, Escalade ESV, Cadillac EXT, Chevrolet Avalanche, Colorado, Silverado, Suburban, Tahoe; and GMC Canyon, Sierra, Yukon and Yukon XL.
The compensation for Deere & Co.'s CEO nearly tripled in 2010 as Samuel Allen completed his first full year in the top job at the world's largest maker of agricultural equipment, but Allen's $12.3 million compensation remains less than his predecessor received in 2009. Predecessor Robert Lane received compensation worth $14 million in his last year leading the company.
GREENVILLE, S.C. (AP) — Forty-five-year-old J.P. Stathakis never thought he'd find himself in the legion of the unemployed, but there he was, a graduate of The Citadel, sucked under in the recession's tidal wave in 2009. Now he is thankful for his job on the maintenance crew at Borg Warner in Seneca, where he operates a forklift, among other duties.