TOKYO (AP) — The former Olympus Corp. CEO who blew the whistle on dubious spending at the Japanese camera and medical equipment maker said Friday he is giving up his fight to regain the presidency and plans to sue the company. Michael Woodford said he decided to drop his bid when he realized he didn't have the support of Japanese institutional investors, whom he blamed for tacitly allowing the current board to stay on despite acknowledging a massive cover-up.
NASHVILLE, Tenn. (AP) — Officials at a Tennessee metal powders factory where five people died in accidents last year knew about the explosive danger of dust that coated much of the plant but did little to reduce the risk, a federal investigative agency concluded. The U.S. Chemical Safety Board on Thursday released its final report on three accidents over the first five months of 2011 at a Hoeganaes Corp.
WASHINGTON (AP) — A burst of hiring in December pushed the unemployment rate to its lowest level in nearly three years, giving the economy a boost at the end of 2011. The Labor Department said Friday that employers added a net 200,000 jobs last month and the unemployment rate fell to 8.
WICHITA, Kansas (AP) — The U.S. Air Force has halted work on a $354 million contract for light air-support turboprops after Hawker Beechcraft Corp. filed a lawsuit claiming its own aircraft was wrongly excluded from the selection process. The contract was awarded Dec. 22 to Nevada-based Sierra Nevada Corp.
DEARBORN, Mich. (AP) — Ford Motor Co. is the latest automaker to open a research lab in Silicon Valley, where it hopes to scout out new technology and keep ahead of trends. The company said Friday that it plans to open the lab near Stanford University in Palo Alto, Calif., in the first few months of this year.
DETROIT (AP) — Chrysler will add 1,250 jobs at two Detroit factories next year — another sign that the once struggling automaker appears to be making a comeback. The Jefferson North Assembly Plant will get 1,100 new workers and a third shift to help build a Jeep Grand Cherokee diesel model for North America.
DETROIT (AP) — Fiat has added 5 percent to its majority ownership of Chrysler. The Italian automaker got the added stake by making a car in the U.S. that gets 40 miles per gallon of gas. With the added shares, Fiat now owns 58.5 percent of Chrysler. The U.S. government, which bailed out Chrysler and funded its 2009 restructuring under bankruptcy protection, gave Fiat a 20 percent stake in Chrysler in July of 2009 in exchange for Fiat's management expertise and use of its technology.
WASHINGTON (AP) — The Food and Drug Administration is ordering medical device manufacturers to study safety complications with surgical mesh widely used to repair women's pelvic problems. The announcement follows an April FDA report which found that women who have the surgical mesh implanted to support their reproductive organs are at greater risk of pain, bleeding and infection than women who have traditional surgery with stitches.
NEW YORK (AP) — Boeing Co. said Thursday its commercial aircraft deliveries rose 10 percent in the last three months of 2011, driven by widespread growth among its models and two deliveries of the aircraft maker's highly anticipated 787. Chicago-based Boeing Co. said it delivered 128 commercial airplanes in the fourth quarter, compared with 116 in the same period a year earlier.
NEW DELHI (AP) — The Tata Nano, the dirt-cheap everyman's car that started with great fanfare but faced seemingly endless troubles, will eventually prove itself a strong product, the outgoing Tata chairman said Thursday. But he acknowledged the company had not handled its rollout well.
BEIJING (AP) — China urged the European Union on Thursday to heed objections to its plans to charge airlines for carbon emissions and to hold talks with opponents. The charges, which took effect Sunday, are aimed at curbing emissions of climate-changing gases but airlines oppose them as an improper tax.
DETROIT (AP) — General Motors will strengthen the structure around the batteries in its Volt electric cars to keep them safe during crashes, a person briefed on the matter said Thursday. GM will ask Volt owners to return the cars to dealers for structural modifications, said the person, who did not want to be identified because GM executives plan to announce the repairs later Thursday.
BOSTON (AP) — Satcon Technology Corp. said Wednesday it plans to cut 140 jobs, or about 35 percent of its workforce, and close a factory in Canada to reduce costs as demand slides for solar power installations around the world. The Boston company, which makes products for large-scale solar power installations, also will write down the value of some of its inventory to reflect a downturn in solar panel prices.
BOISE, Idaho (AP) — At least for now, the lights will stay on at Hoku Corp.'s plant in Pocatello. Idaho Power Co. had threatened to shut off electricity after the Honolulu-based polysilicon maker missed a $1.9 million payment in November because of cash problems. But Tuesday, Idaho Public Utilities Commissioners set a schedule to hear out the dispute, with arguments set for meetings next Tuesday or Wednesday.
BRASILIA, Brazil (AP) — The Brazilian subsidiary of automaker Ford has unveiled a new version of its EcoSport SUV and says it will be sold in close to 100 countries. The car was introduced Wednesday in the Brazilian capital and at the Auto Expo show in New Delhi. Ford Motor Co.
NEW YORK (AP) — Google Inc. has bought another 188 U.S. patents and 29 patent applications from IBM Corp., IBM confirmed Wednesday. Google has been buying patents from IBM and others over the past year to bolster its defenses against lawsuits over its Android smartphone software.
KANSAS CITY, Mo. (AP) — A group that wants to prevent weapons manufacturing at a Kansas City plant has gathered enough signatures to put two measures on the ballot. The city clerk's office said Tuesday that KC Peace Planters had collected enough valid signatures required to put the measures on the ballot.
WICHITA, Kan. (AP) — Faced with defense budget reductions, the Boeing Co. announced Wednesday it will close its defense plant in Wichita by the end of 2013. The closure will cost more than 2,160 workers their jobs and end the firm's presence in a city where it has been a major employer for generations.
WASHINGTON (AP) — U.S. manufacturers ended 2011 with their best month of growth since the late spring. And the struggling construction industry spent more on projects for the third time in four months. The data bolstered hopes that the economy is gaining momentum and helped Wall Street start 2012 with a bang.
NEW YORK (AP) — Positive manufacturing and construction data from the U.S. made traders more willing to buy riskier currencies Tuesday. The dollar fell against the euro, pound, yen and most other currencies. Economic reports out of Germany and China were also strong. A trade group of purchasing managers said Tuesday that its U.