STOCKHOLM (AP) — Struggling car maker Saab Automobile faced renewed uncertainty Thursday as the financing deal with China's Hawtai Motor Group fell apart, raising fresh concerns about the company's future. Spyker Cars NV, which bought Saab from General Motors Corp. in 2010, said it was "forced to terminate" the $223 million (euro150 million) agreement with Hawtai since the Chinese company was not able to obtain all the necessary consents, including approvals from different shareholders.
WASHINGTON (AP) — U.S. companies in March sold the most goods and services overseas in nearly two decades. But a big jump in oil prices pushed the nation's trade deficit higher. The trade deficit rose 6 percent to $48.2 billion, the Commerce Department said Wednesday. That's the highest level since June 2010.
DETROIT (AP) — Toyota Motor Corp. says North American production will rise to 70 percent of normal in June as the company begins to recover from parts shortages caused by the earthquake in Japan. The company cut production to about 30 percent of normal in May by idling factories for several days or reducing their hours.
WASHINGTON (AP) — Companies in March advertised the most jobs since the peak of the 2008 financial crisis, a sign that hiring is likely to remain healthy in the months ahead. Job openings rose by 99,000 to 3.1 million in March, the Labor Department said Wednesday. That's the highest level of openings since September 2008 and the second straight monthly increase.
GREENVILLE, S.C. (AP) — The California-based organic frozen food producer Amy's Kitchen is coming to South Carolina with $63 million for a new plant and 700 jobs over six years, officials announced Wednesday. Gov. Nikki Haley hailed the development as a major economic win for the region and the state as a whole.
RICHMOND, Virginia (AP) — The head of cigarette maker Philip Morris International Inc. told a cancer nurse Wednesday that while cigarettes are harmful and addictive, it is not that hard to quit smoking. CEO Louis C. Camilleri 's statement was in response to comments at its annual shareholder meeting in New York, in which the seller of Marlboro and other brands overseas spent most of the gathering sparring with members of anti-tobacco and other corporate accountability groups targeting its marketing and regulatory dealings.
TRENTON, N.J. (AP) — Johnson & Johnson is again recalling a prescription drug because of an odd musty odor likely caused by a chemical on shipping pallets. J&J said Wednesday that it's recalling five lots of its HIV medicine Prezista at the wholesale and pharmacy level in five foreign countries: Austria, Canada, Germany, Ireland and the United Kingdom.
NEW DELHI (AP) — India's Supreme Court rejected an appeal Wednesday to reinstate stronger charges against seven people convicted of negligence in connection with the 1984 toxic gas leak in Bhopal that killed an estimated 15,000 people. The leak at a Union Carbide plant, the world's worst industrial accident, left thousands more with devastating deformities and other health problems.
HARRISONBURG, Va. (AP) — Antitrust regulators have filed a lawsuit to undo the sale of a Tyson Foods Inc.plant in Harrisonburg, Va., saying the deal could hurt competition for farmers in the area. In its civil lawsuit, the U.S. Department of Justice claims the sale would reduce the number of poultry processors around Harrisonburg, giving farmers little choice when it came time to sign contracts to grow chickens.
WASHINGTON (AP) — Sharp U.S. criticism of China's human rights record overshadowed the results achieved at annual high-level meetings between the world's two largest economies aimed at resolving disputes over trade and foreign policy. After two days of talks, the two sides announced a range of modest agreements aimed at increasing sales opportunities for U.
SHANGHAI (AP) — Auto sales edged lower in China in April, the first such decline in over two years, as dealers were dealt a double whammy from weakening demand and the spillover from Japan's earthquake disaster. Automakers delivered 1.55 million vehicles to buyers in April, down 0.25 percent from a year earlier, the China Association of Automobile Manufacturers said in a statement seen Wednesday on its website.
LOS ANGELES (AP) — A California company and two of its executives were convicted Tuesday of conspiracy charges for bribing government officials at Mexico's state-owned utility in exchange for obtaining lucrative contracts. A federal jury found Keith Lindsey, president of Lindsey Manufacturing Co.
TOKYO (AP) — Toyota's quarterly profit crumpled more than 75 percent after the March earthquake and tsunami wiped out parts suppliers in northeastern Japan, severely disrupting car production. The maker of the popular Prius hybrid gave no forecast for the current fiscal year through March 2012, citing an uncertain outlook because production continues to be hampered by shortages of parts.
DALLAS (AP) — The largest U.S. milk producer, Dean Foods Co., said Tuesday that maintaining and raising its prices and expanding to new markets will help it fight falling milk sales and rising costs and meet its brightened earnings forecasts for the rest of the year. Dean Foods, which cut 600 jobs and reduced other costs during the first quarter, said its net income for the period slid 41 percent from a year earlier.
WASHINGTON (AP) — Wholesale companies increased their stockpiles for the 15th straight month in March, a sign they expect future sales gains. Supply levels at warehouses rose 1.1 percent in March, the Commerce Department said Tuesday. Sales among wholesalers increased 2.9 percent and have risen in eight of the last nine months.
Torrance, Calif. — Toyota Motor Sales, U.S.A., Inc. (TMS) today celebrated the opening of the first hydrogen fueling station in the U.S. fed directly from an active industrial hydrogen pipeline. The station is a collaborative effort between Toyota, Air Products, Shell, South Coast Air Quality Management District (SCAQMD) and the Department of Energy (DOE).
TOLEDO, Ohio — General Motors Co. announced Tuesday it will invest about $2 billion in U.S. assembly and component plants, creating or preserving more than 4,000 jobs at 17 facilities in eight states. "We are doing this because we are confident about demand for our vehicles and the economy," GM Chairman and CEO Dan Akerson said during an event at the 54-year-old Toledo Transmission Plant.
LINCOLN, Ala. (AP) — Honda Motor Co. Ltd. plans to invest $97 million in its auto assembly plant in Lincoln, creating 20 jobs. The Talladega County Commission voted Monday night to approve the tax abatements for the project, which is expected to be completed in late 2012. The project comes as Honda prepares to add production of the Acura MDX luxury sports utility vehicle to its assembly lines.
PHILADELPHIA (AP) — A longtime friend to a Campbell Soup heiress admits she tried to extort the Pennsylvania billionaire in an email titled "When the Soup Boils." Agnes O'Brien pleaded guilty Tuesday to sending extortionist threats to Mary Alice Dorrance Malone. She'll get six years' probation as part of the plea.
DETROIT (AP) — General Motors Co. says former Chairman and CEO Robert Stempel has died. The automaker announced Stempel's death in a statement Monday. The Detroit News and the Detroit Free Press report he was 77 and died Saturday in Florida. Stempel led the company from 1990-92 until he was forced out in a boardroom coup.