DETROIT (AP) — The company that got stuck with General Motors Co.'s debts and bad assets will begin selling stock and warrants in the new GM, according to a regulatory filing Tuesday. Motors Liquidation Co. said in the filing with the Securities and Exchange Commission that the stock and warrants being sold starting Tuesday are worth a total of $5.
TOKYO (AP) — Ford sees a big chance to snatch buyers away from Japanese automakers battling production delays caused by the March earthquake and tsunami, and vehicles in the works could help deliver it growth in a long-difficult market. "The opportunities for Ford in Japan have never been greater," Ford Japan Chief Executive Tim Tucker said Tuesday of the products planned for Japan.
SEOUL, South Korea (AP) — Police in South Korea are breaking up a strike at an auto parts manufacturer that has caused production disruptions for the country's automakers. Police official Seo Jung-pil said Tuesday that about 1,000 police raided a Yoosung Enterprise Co. factory in Asan, south of Seoul, where some 500 workers had been on strike since May 18.
MACOMB TOWNSHIP, Michigan (AP) — Chrysler CEO Sergio Marchionne said Monday that his company will save $300 million in interest a year when it repays $7.5 billion in U.S. and Canadian government loans on Tuesday. Chrysler plans to announce the repayment at a Detroit-area auto assembly plant on Tuesday afternoon.
LONDON (AP) — British lawmakers said Monday they still have "significant concerns" about the takeover of chocolate maker Cadbury by Kraft Foods Inc. — more than a year after the controversial deal. The Business, Innovation and Skills Select Committee also strongly criticized Kraft's chief executive Irene Rosenfeld for refusing to appear before parliamentary hearings into the takeover.
INDIANAPOLIS (AP) — Two entrepreneurs who relaunched a chocolate-flavored drink called Choc-Ola are hoping baby boomers' taste for nostalgia and consumers' love of anything with chocolate helps make the revived beverage a success. Choc-Ola — a concoction of water, sugar, low-fat milk, cocoa and a handful of other ingredients — debuted in the 1940s and was pitched to a generation of fans in the 1970s by "Cowboy Bob" on Indianapolis television station WTTV-4's children's program.
NEW YORK (AP) — Campbell Soup Co. said Monday that its U.S. soup sales fell in its third quarter as it ditched the heavy discounts and found consumers stocked up less. But its overall results beat expectations as its baked goods and snacks which include Pepperidge Farm products, Goldfish crackers and Milano cookies sold well.
RALEIGH, N.C. (AP) — Electronic Recyclers International announced plans Monday to open a regional operations center at Alcoa's former smelting plant in Badin, eventually providing jobs for 200 or more employees. ERI is the first new tenant signed at the vacated 700,000-square-foot Badin Business Park, a building formerly used by Alcoa Inc.
PLAQUEMINE, La. (AP) — Officials with Shintech Louisiana have identified two workers who died after they were overcome by chemical fumes at the Shintech facility south of Plaquemine. Plant Manager David Wise said in a news release that Tommy Rivet, a Shintech employee, and Tory Sanchez, a contract worker employed by Performance Contractors, Inc.
DETROIT (AP) — An independent panel set up to review Toyota Motor Corp.'s safety and quality issues says the company doesn't do a good job of incorporating customer feedback into its car designs. The panel says Toyota should appoint executives who are responsible for safety and should give more power to regional executives outside Japan.
YORKTOWN, New York (AP) — Some fellow in his pajamas, home sick with bronchitis and complaining online about it, could soon be contributing to a digital collection of medical information designed to help speed diagnoses and treatments. A doctor who is helping to prepare IBM's Watson computer system for work as a medical tool says such blog entries may be included in Watson's database.
DETROIT (AP) — Harley-Davidson Inc. dealerships are reporting strong sales in the second quarter, a promising sign that the motorcycle maker's turnaround is taking hold as the slow economic recovery continues, an R.W. Baird & Co. analyst wrote on Monday. Baird analysts contacted 54 of 650 U.
WASHINGTON (AP) — Workers who don't trust the boss to keep track of their wages can now do it themselves with a new smartphone application from the Department of Labor. But employers worry that the time sheet app, along with other new initiatives, could encourage even more wage and hour lawsuits.
TOKYO (AP) — Honda workers are taking 14 additional days off during June through August because of manufacturing disruptions caused by parts shortages, but will make up for the car production shortfall later in the year. Honda Motor Co. said Monday that plant workers will take one extra day off in June, 10 more in July and three in August, and work those days in the latter half of the fiscal year to make up for the shortfall Under Honda's latest move, all production at the Saitama and Suzuka auto plants, and part of the production at the Hamamatsu motorcycle plant, will be shut down for the 14 days.
TOKYO (AP) — Sony Corp. is expecting an annual loss of $3.2 billion, reversing its earlier projection of a return to profit, as the electronics giant struggles with production disruptions from Japan's tsunami and a hacker attack on its online gaming service. The Japanese maker of PlayStation 3 video game machines and Bravia flat-panel TVs said Monday that the projection of a 260 billion yen ($3.
BEIJING (AP) — An explosion at one of two factories that make Apple's new iPad 2 highlights the risks of a global manufacturing strategy that has cut costs but concentrates production in a few locations. Foxconn Technology Group, the contractor that manufactures Apple's iPhones and iPads, said Friday's blast in the western city of Chengdu killed three employees and injured 15.
FERMONT, Quebec (AP) — Global steel giant ArcelorMittal will create 8,900 construction and mining jobs with a $2.16 billion expansion of its Quebec mining complex near Labrador. The Luxembourg-based company said Friday that annual production of iron ore concentrate will increase to 24 million tons from 14 million tons by 2013.
CANTON, Miss. (AP) — Madison County supervisors want the city of Canton to stop its efforts to annex and tax the Nissan assembly plant. Canton officials said a 2000 law that prevents them for annexing and levying property taxes against it for 30 years is unconstitutional. The city has asked a Madison County judge to throw out the law.
WESTPORT, Conn. (AP) — Machinery products manufacturer Terex Industrial Holding AG, the German subsidiary of Terex Corp., has made a previously announced unsolicited bid for all the outstanding shares of a Dusseldorf-based crane manufacturer, Demag Cranes AG. Terex said Thursday that it is offering Demag shareholders a price of 41.
The company behind Fila shoes and clothing is taking a swing at golf, forming a foursome to purchase the maker of Titleist golf balls and FootJoy shoes from liquor company Fortune Brands Inc. Korean investors led by athletic company Fila Korea Ltd. and Mirae Asset Private Equity plan to buy Fortune's golf giant Acushnet Co.