STOCKHOLM (AP) — Crisis-hit car maker Saab has struck a $40 million deal to sell and lease back property in an effort to improve its ailing finances that have forced it to halt production and withhold workers' salaries. If approved by Swedish and European regulators, Tuesday's property deal could help Saab ease a severe cash shortage that has pushed the loss-making Swedish brand closer to bankruptcy.
WASHINGTON (AP) — President Barack Obama will tout manufacturing as a key to America's economic success during a trip to Iowa, as he seeks to counter criticism of his policies by Republican presidential candidates who have descended on the state. The trip Tuesday is Obama's first to Iowa since announcing his re-election campaign earlier this year.
CHICAGO (AP) — Boeing Co. says its new 787 is beginning the final phase of flight testing and repeated that it should be ready for delivery in August or September. The final flight testing includes simulations of abnormal operations. It also tests long-range flying, including the 787's ability to divert to a far-away airport on just one engine.
SPRINGDALE, Ark. (AP) — Approximately 300 people at a Tyson Foods processing plant were evacuated and 100 sent to local hospitals after an accidental mixture of chemicals created a chlorine gas inside part of the plant Monday morning. The workers were forced from Tyson's Berry Street plant in Springdale, company spokesman Gary Mickelson said.
EAST PEORIA, Ill. (AP) — The Occupational Safety and Health Administration has cited Caterpillar Inc. for three safety violations and has proposed a $66,000 fine following a December 2010 accident that injured an employee. OSHA said in a news release Monday that the employee was injured while trying to clear a jammed piece of equipment in a Caterpillar plant in East Peoria.
CAMDEN, Arkansas (AP) — The U.S. Army has awarded a $286 million contract to General Dynamics for the production of air-to-ground rockets. Under the contract, the Hydra-70 rockets are to be delivered by April 2015, General Dynamics Armament and Technical Products, a business unit of General Dynamics, announced in a news release Monday.
DETROIT (AP) — The head of General Motors Co.'s North American operations believes that new contract talks with the United Auto Workers will be different from the contentious bargaining of the past. Mark Reuss, GM president for North America, said Monday that the two sides have been talking informally for the past 18 months about items that can benefit both the company and the union.
NEW BRITAIN, Connecticut (AP) — Tool maker Stanley Black & Decker Inc. said Monday it has offered almost $1.04 billion for the Swedish commercial security and monitoring company Niscayah, topping a competing bid. The offer amounts to roughly $2.78 per share, or 18 Swedish krona, Stanley said, and added that is 15 percent above Niscayah's closing price on Friday.
CHRISTOPHER S. RUGABER,AP Economics Writer WASHINGTON (AP) — For the first time in a year, Americans have stopped spending more. Consumer spending failed to budge from April to May, evidence that high gas prices and unemployment are squeezing household budgets. When adjusted for inflation, spending actually dropped 0.
MILAN (AP) — As the Fiat and Chrysler automakers go global, so do their unions. Fiat and Chrysler unions worldwide this week agreed to join in a global network aimed at a constant flow of information and defining a common strategy. The unions said they may try to replicate a worldwide framework agreement for minimum union rights that exists at Volkswagen, Psa-Peugeot and Renault.
YOKOHAMA, Japan (AP) — Nissan Chief Executive Carlos Ghosn unveiled an ambitious six-year plan for growth Monday, including a target of boosting the carmaker's share of the global auto market to 8 percent. Nissan Motor Corp. hopes to reach the market share target in the fiscal year ending March 2017, in part by focusing on growth in countries such as China, Brazil, Russia and India.
In this June 7, 2011 photo is a mine vehicle, powered by a Harley motor, at the Harley-Davidson Museum in Milwaukee. The cart, which was created by a mine worker in northern California around 1926, is part of a new exhibit, "Collection X: Weird, Wild Wonders of the Harley-Davidson Museum," which runs through Aug.
WASHINGTON (AP) — Growing up in a provincial town in Iran, Nader Modanlo was fascinated by the flickering TV images of astronauts walking on the moon. As a teenager, he came to the United States, where he earned degrees in aerospace engineering, became a U.S. citizen and co-founded a pioneering satellite telecommunications company that at one point was worth up to $500 million.
WASHINGTON (AP) — President Barack Obama says technological innovations such as robots can help pump jobs into the economy and spur growth in clean energy and advanced manufacturing. In his radio and Internet address Saturday, the president echoed a plan he unveiled in Pittsburgh Friday to join the federal government, universities and corporations and reignite American manufacturing with an emphasis on cutting-edge research and new technologies.
STOCKHOLM (AP) — Troubled car maker Saab Automobile AB has received a euro13 million ($18.4 million) car order from a Chinese company that could help pay this month's salaries, its owner Swedish Automobile AB said Monday. The company, previously known as Spyker Cars, claimed the deal with an unnamed Chinese company would provide the ailing car brand with enough funds to also pay back parts of its debt to suppliers.
PITTSBURGH (AP) — President Barack Obama called on Friday for a "renaissance in American manufacturing" that would replace shuttered steel mills with plants producing robotics, nanotechnology and other high-tech advances. The president said this resurgence is how the country will create new jobs and stay competitive in a global marketplace where other countries are making great strides.
NEW YORK (AP) — Alcoa Inc. has reached a multi-year deal to supply Airbus with aluminum sheet and plate products, the company said Friday. The agreement was brokered this week at the Paris Air Show. Specific financial terms were not disclosed, but the deal has a value of about $1 billion over its life, Alcoa said.
NEW YORK (AP) — General Electric Co. and its venture-capital partners say they will invest $63 million in 10 companies that provide technology such as energy-efficiency to the home. GE said Thursday that the investment is the second round of funding in a $200 million competitive program it calls "ecomagination.
SEOUL, South Korea (AP) — Apple Inc. is bringing its patent fight with Samsung Electronics Co. over smartphones and tablet computers to South Korea. Apple spokesman Steve Park said Friday that the company filed a lawsuit Wednesday in Seoul Central District Court. Apple sued Samsung in the United States in April.
PITTSBURGH (AP) — Need help defusing a bomb, mowing a lawn or scraping old paint? President Barack Obama might see robots that can do those tasks on Friday when he visits the National Robotics Engineering Center at Carnegie Mellon University. It's one of eight research centers at the school's Robotics Institute.