EAST HARTFORD, Conn. (AP) — Jet engine maker Pratt & Whitney said Monday it will eliminate 1,000 jobs in Connecticut by 2011, transferring engine repair work to Georgia and Asia in a cost-cutting move. The subsidiary of United Technologies Corp. will shut its Cheshire, Conn.
EUGENE, Ore. (AP) -- Tucked away in a nondescript garage off an unpaved alley in Eugene's Whiteaker neighborhood, a group of young entrepreneurs is trying to catch the next wave of human transport by building an affordable, rechargable electric vehicle. The company is called Arcimoto, and it will unveil a prototype of its first vehicle, the Pulse, on Wednesday at Pioneer Square in downtown Portland.
TOKYO (AP) — The chief executive of the Canadian parts maker that is buying a stake in Opel from General Motors said Tuesday talks are planned with Volkswagen to ease the German automaker's concerns about the deal. "Volkswagen has said they are concerned, so we need to finalize internal procedures and have more discussions with them," Don Walker, co-chief executive officer of Magna International Inc.
POOLER, Ga. (AP) — After sitting vacant for seven years, a 1,500-acre industrial site near Savannah landed its first manufacturer Monday as Mitsubishi Power Systems announced plans to produce giant steam and gas turbines in coastal Georgia. The company said it will begin construction before the end of the year on a $325 million plant that will employ about 500 workers.
SYRACUSE, N.Y. (AP) — A Cleveland investment group is offering the highest bid for an upstate New York steel mill going through bankruptcy reorganization. The group headed by Jack Jankovic of JP Industries says it would pay $8 million for the Crucible Specialty Metals steel plant in suburban Syracuse.
DAVENPORT, Iowa (AP) — About 5,000 retired workers are suing Deere and Co. for changes to their health benefits plan, saying the agricultural machinery manufacturer broke its promises. An attorney for the Flex Retirees Organization says in U.S. District Court in Davenport that the retirees thought they and their spouses would have medical benefits for life.
BISMARCK, N.D. (AP) — An analyst says the parent company of Bobcat Co., has been hurt by a global economic slump and by debt it took on when it purchased Bobcat two years ago. Bobcat, of West Fargo, has announced plans to close its Bismarck plant by the end of the year and consolidate its work to Gwinner, in southeastern North Dakota.
NEW YORK (AP) — Nektar Therapeutics said Monday it licensed a pair of experimental pain treatments to AstraZeneca PLC in a deal valued at about $1.12 billion. AstraZeneca will pay Nektar $125 million upfront for the rights to two drugs: NKTR-118, an oral product intended to treat constipation caused by opioid pain drugs, and NKTR-119, which is intended to combine NKTR-118 with opioid pain drugs to create a painkiller that doesn't cause constipation.
BRUSSELS (AP) — The European Union on Monday published e-mail excerpts from computer makers and Intel Corp. to show that Intel pressured chip buyers into choosing Intel over rival Advanced Micro Devices Inc. Intel was hit by a record EU antitrust fine of euro1.06 billion ($1.45 billion) last May for what the EU said was using strong-arm sales tactics such as threatening to withdraw price rebates to squeeze out AMD.
NEW YORK (AP) — Nearly two-thirds of union workers at a Canadian auto plant jointly owned by General Motors and Suzuki have approved a new contract that would freeze wages and pensions, trim benefits, introduce a monthly health care contribution and reduce break times. However, the new contract at the CAMI Automotive Inc.
FRANKFURT (AP) — German carmaker BMW AG said it wants second half 2009 production levels to match levels of the second half of 2008, despite the dramatic sales declines experienced in the first half of this year. The Munich-based carmaker told German weekly Automobilwoche the company "wouldn't build fewer cars in the second half of 2009, compared to the year-ago period.
DETROIT (AP) — Governments and schools across Michigan are bracing for the possible loss of millions of dollars in tax revenue as General Motors Co. and Chrysler Group LLC argue that they should pay less in property taxes. GM and Chrysler say their property taxes are inflated by more than 50 percent because local communities overestimate the value of their plants and buildings.
Blue Springs , MO — Fike, a leader in industrial and explosion protection safety solutions, is sponsoring two Explosion Protection Seminars: Concord, California on September 29, 2009; and Pomona, California on October 1, 2009. The primary focus of these educational seminars is the protection of facilities against potential combustible dust explosion hazards, and explosion mitigation techniques use to help provide a safe workplace.
WARSAW, Poland (AP) — A methane leak in a Polish coal mine set off an explosion that killed 12 miners on Friday, officials said. Edyta Tomaszewska, a spokeswoman for the state body that oversees Polish coal mining, said the explosion occurred 3,450 feet (1,050 meters) underground at the mine in the southwestern city of Ruda Slaska.
DETROIT (AP) — Last week's deal for General Motors to give up control of its money-losing Opel unit has a big downside: If the deal goes through, Russian automaker GAZ will get its hands on GM technology. Worse yet, GAZ, with cars that are light years behind most global automakers in quality as well as engines, transmissions and other technology, is likely to use what it gets from GM to compete against the Detroit automaker's Chevrolet brand in Russia.
Consumers lost trust in brands this year as the recession deepened, according to an industry report released Thursday, although longtime staples Coca-Cola and IBM retained their spots as the world's two most valuable brands. This is the first time the combined value of the world's top 100 brands as ranked by Interbrand, a branding agency, has fallen in the 10 years Interbrand has assessed them.
MONTREAL — AbitibiBowater announced Thursday that it will suspend production indefinitely at several Canadian and U.S. mills in a corporate streamlining that will affect about 1,500 Canadian workers. The cuts, which begin Oct. 31, reflect the insolvent newsprint giant's restructuring efforts under the bankruptcy protection laws in Canada and the United States.
BATON ROUGE, La. (AP) — A judge's approval of a settlement agreement between the state and Pfizer Inc. means Louisiana will receive more than $670,000 from the drug maker over alleged improper marketing of an antipsychotic drug. Louisiana was among the states that reached a $33 million settlement with Pfizer, the world's largest drug manufacturer.
September 16, 2009 WASHINGTON (AP) — Targeting more federal money to support the auto industry, the House on Wednesday approved an expansion of U.S. government-led research into making cars and trucks more fuel-efficient. The House plan would allow the Energy Department to spend up to $200 million more each year on research and development for advanced-technology vehicles and auto parts.
September 16, 2009 WASHINGTON (AP) — Targeting more funding for the auto industry, the House is considering an expansion into government-led research of fuel-efficient vehicle technology and making research dollars more available to auto parts suppliers. The House was expected to vote Wednesday on a bill that could allow the Energy Department to spend up to $550 million a year to conduct advanced technology vehicle and component part research and development.