SHANGHAI (AP) — General Motors Co. and Chinese partner SAIC announced Wednesday plans for joint development of fuel-efficient small engines and transmissions, focusing squarely on the fastest-growing part of China's huge auto market. The companies, which run several joint ventures including their flagship Shanghai GM, will develop a 1 liter to 1.
SHENZHEN, China (AP) — Young workers who normally spend their days assembling iPhones and other high-tech gadgets packed a stadium at their massive campus Wednesday, waving pompoms and shouting slogans at a rally to raise morale following a string of suicides at the company's heavily regimented factories.
OMAHA, Nebraska (AP) — Deere & Co. said Wednesday its third-quarter profit grew 47 percent because American and Canadian farmers bought enough of the company's large equipment to offset a sharp downturn in Europe, but Deere kept its forecast for the year conservative. The company reported $617 million net income, or $1.
FORT WAYNE, Ind. (AP) — A union official at the Navistar International plant in Fort Wayne says the company has told workers it plans to phase out its operations in that city within three years. United Auto Workers Local 2911 President Tom Burkholder says workers got that message Tuesday but it could be a negotiating stategy.
BRIDGEPORT, Conn. (AP) — A lawyer for a New Jersey man says he'll be filing a $6 million federal lawsuit over injuries his client suffered in a Connecticut power plant explosion that killed six people in February. Attorney William Bloss says the lawsuit will be filed Tuesday morning in U.
WASHINGTON (AP) — Industrial production rose in July on the strength of U.S. manufacturing, as auto factories stayed open and businesses replaced worn-out equipment. Output at the nation's factories, mines and utilities increased 1.0 percent last month, the Federal Reserve reported Tuesday.
BEIJING (AP) — The death toll from a massive explosion at a fireworks factory in northeast China rose Tuesday to at least 19 workers, with five still missing. Up to 50 people were working at the fireworks factory in the Heilongjiang province city of Yichun when it was rocked by the explosion Monday, damaging nearby buildings and sparking secondary blasts, according to a statement on the local government's website.
KANSAS CITY, Mo. (AP) — Fourteen protesters have been arrested at the construction site of a Kansas City plant that will make parts for nuclear arms. The Kansas City Star reports Monday's arrests came as about 75 people locked arms and marched onto the excavation site. The $685 million Honeywell plant is being built in southern Kansas City.
WASHINGTON (AP) — General Motors is recalling nearly 250,000 crossover vehicles worldwide to inspect second-row seat belts that could be damaged and not latch. GM says the recall affects 2009-2010 models of the Chevrolet Traverse, Buick Enclave, GMC Acadia and Saturn Outlook. Most of the recalled vehicles are in the United States but some are also in Canada, Mexico and elsewhere.
MENOMONEE FALLS, Wis. (AP) — President Barack Obama says a Milwaukee-area battery plant represents the country's future in renewable energy. Obama visited ZBB Energy Corp. in Menomonee Falls on Monday morning. The company makes batteries and fuel cells that get used in renewable-energy products.
August 16, 2010 INDIANAPOLIS (AP) — The United Auto Workers union has decided not to go ahead with a vote on a new wage-cutting contract for a General Motors stamping plant in Indianapolis that is facing sale. UAW Local 23 bargaining chairman Gregory Clark says members won't vote on the proposed contract, which would cut base wages from $29 per hour to $15.
August 16, 2010 ALLENTOWN, Pa. (AP) — Air Products and Chemicals,Inc. said Monday it has reached an agreement with staff at the Federal Trade Commission on the terms of a consent decree for its $5.5 billion takeover of rival Airgas, Inc. The decree allows Air Products to acquire Airgas if it divests of certain assets, including Airgas's liquid bulk and onsite supply of atmospheric gases.
August 16, 2010 Tomoko A. Hosaka, AP TOKYO (AP) — Japan lost its place as the world's number two economy to China in the second quarter as receding global growth sapped momentum and stunted a shaky recovery. Gross domestic product grew at an annualized rate of just 0.4 percent, the government said Monday, far below the annualized 4.
August 16, 2010 David Nowak, AP MOSCOW (AP) — Russia's heat wave, drought and wildfires — which have killed dozens of people and destroyed millions of acres of wheat — are another indication that global warming is causing more weather extremes around the world, a Russian official stated.
Here is a summary of recent earnings reports for selected technology companies and what they reveal about the state of spending and the overall economy: July 13: Intel Corp. reports its largest quarterly net income in a decade as the chipmaker benefits from a stronger computer market and more sophisticated factories.