GROTON, Conn. (AP) — General Dynamics Corp. said Wednesday it received a $33.5 million contract modification to develop advanced undersea technologies. The U.S. Navy awarded the contract to General Dynamics' Electric Boat unit. Electric Boat will conduct research and development studies on technology areas including manufacturing, maintainability, survivability, hydrodynamics, acoustics, and materials.
ROCHESTER, N.Y. (AP) — Shares of Eastman Kodak Co. shot up almost 15 percent in unusually heaving trading Wednesday after CEO Antonio Perez told employees that recent Kodak stock purchases reflect management's faith in the photography pioneer's future. Some analysts suspect, however, that the stock price surge reflects Kodak's recent preliminary triumphs over smartphone giant Apple Inc.
MOLINE, Ill. (AP) — Deere & Co. plans to invest $80 million in a new agricultural equipment manufacturingplant in northeast China to help meet increased demand in the region. Deere, based in Moline, Ill., announced the new plant Wednesday morning as it released its quarterly earnings report.
GENEVA (AP) — European aircraft maker Airbus received state subsidies that hurt U.S. rival Boeing Inc., but not all of them were illegal under international rules, the World Trade Organization said Wednesday. The mixed decision by a WTO appeals panel allowed Brussels and Washington to both claim a victory of sorts in their tit-for-tat dispute over financial aid to airplane manufacturers that has become the costliest and most complex ever to be heard by the international trade body.
NEWNAN, Ga. (AP) — Yamaha officials say the first production run of new all-terrain vehicle models transferred to the U.S. from overseas facilities will take place this month at the company's factory in Newnan, Ga. Yamaha Motor Corp., U.S.A. and Yamaha Motor Manufacturing Corporation of America called the announcement on Wednesday a major step forward in the companies' long-term strategy to transfer the majority of Yamaha's worldwide ATV manufacturing to the U.
MADISON, Wis. (AP) — A Fond du Lac man has filed a federal lawsuit accusing Kraft Foods of firing him rather than accommodating his bad back. James L. Brown was hired in 2001 at a Kraft frozen-pizza facility in Little Chute. His lawsuit says he missed a few days of work in 2008 to get treatment for chronic back pain.
NEW YORK (AP) — A man fired from his job at a small manufacturing company went to his employers' home Tuesday with a handgun and shot them both, then barricaded himself inside their basement before he was shot to death during a police confrontation, authorities said. Ilya Iglanov, 48, went to the couple's home at about 12:30 p.
RENO, Nev. (AP) — The former chief financial officer for an electronic door lock manufacturer in Sparks has been indicted on federal charges accusing him of embezzling more than $2 million from his employer. Federal prosecutors say Juan Ramon Cabezas surrendered to authorities on Tuesday. The 55-year-old Reno man was indicted May 11 on 22 counts of bank fraud and 15 counts of mail fraud.
MINNEAPOLIS (AP) — General Mills says it has signed a deal to buy a controlling stake in French yogurt company Yoplait for about $1.15 billion. The deal protects General Mills' U.S. yogurt business. The food maker has sold the world's second-largest yogurt brand under license in the U.S. for 30 years.
WASHINGTON (AP) — Often maligned, the french fry is fighting back. The spud has had a tough time lately. In the last year, it has been marginalized by new school lunch rules, demonized by a popular television program and blamed for the nation's obesity epidemic. Health advocates and government officials have pushed to take them off lunch lines, where kids often reach for the crispy treats instead of greener vegetables.
MOLINE, Illinois (AP) — Deere & Co. said Wednesday its fiscal second-quarter profit soared 65 percent because of strong demand for its agricultural equipment, especially in the United States, Canada and Brazil. The company also said it plans to invest $80 million in a new agricultural equipment manufacturing plant in northeast China to help meet increased demand in the region.
PHILADELPHIA (AP) — Mack Trucks Inc. and its parent, AB Volvo, will pay $525 million to settle a class-action lawsuit filed by more than 9,300 retirees of the North Carolina truck maker after they challenged potential reductions to their lifetime health benefits. The Legal Intelligencer reported Tuesday that Senior U.
PALO ALTO, Calif. (AP) — After its CEO warned of another tough quarter, Hewlett-Packard Co. cut its full-year outlook Tuesday citing to soft PC sales and the effects of the earthquake in Japan. HP said its net income for the latest quarter rose slightly, but investors focused on challenges ahead sent shares down 5 percent before the market opened Tuesday.
VERSAILLES, Ohio (AP) — Authorities estimate that about 83,000 chickens were killed in a barn fire at a western Ohio egg farm. WHIO-TV says about 70 firefighters were called out shortly before 4 a.m. Tuesday to fight the fire near Versailles (vur-SAYLZ'). The barn is on a farm owned by Kissinger Brothers Poultry and was fully engulfed when firefighters arrived.
WHITE MARSH, Md. (AP) — Groundbreaking is scheduled for a new electric motor manufacturing facility at General Motor's Powertrain Baltimore location. Maryland Gov. Martin O'Malley and other officials will participate in Tuesday's ceremony for the facility that is expected to create about 190 jobs.
COLUMBUS, Miss. (AP) — A vote could soon be taken to decertify the union at Omnova Solutions, Inc., in Columbus, where some workers have been on strike for a year. The Columbus Dispatch reports a group of replacement workers have filed a request with the National Labor Relations Board to take a decertification vote.
ST. LOUIS (AP) — The nation's largest lead producer plans to build a new plant in the eastern Missouri town and promises it will be far more environmentally friendly than its existing smelter there that has been the subject of scorn by environmentalists and regulators for decades. St.
LONDON (AP) — Defense contractor BAE Systems PLC said Tuesday it has agreed to pay a fine of up to $79 million to settle an arms export controls case with the U.S. Department of State, the largest civil fine ever levied by the department. The State Department settlement of the civil case includes a possible $10 million reduction in the fine depending on the company's implementation of compliance measures.
WASHINGTON (AP) — U.S. factories in April produced fewer goods for the first time in 10 months. A shortage of parts from Japan forced auto makers to cut back output. The Federal Reserve says manufacturing production fell 0.4 percent in April. That follows nine straight monthly increases. But excluding the drop in activity at auto plants, factory production rose 0.
SAN DIEGO (AP) — A San Diego-based defense contractor pleaded guilty Monday to offering bribes to a Navy official who, in return, placed $300,000 worth of orders from the company for military aircraft. Jesse Denome, owner of JD Machine Tech, Inc., admitted that from June 2004 to September 2005 he gave a Navy official a bicycle worth nearly $2,500, a model airplane engine worth $449 and made $18,000 in payments on the official's personal credit card.