BERLIN (AP) — German engineering company Bosch said Tuesday that it plans to buy the automotive services division of U.S.-based SPX Corp. for about $1.15 billion in cash. Bosch said that SPX, based in Charlotte, North Carolina, agreed to sell its Service Solutions unit. The division develops, manufactures and sells tools, workshop equipment, and software for the global automotive market.
TOKYO, Jan. 24 (Kyodo) — BMW AG told the Japanese transport ministry Tuesday that it will recall a total of 15,933 Mini brand vehicles to replace free of charge defective electric water pumps used to cool their turbochargers, due to the risk of fire, the ministry said. In a report filed with the ministry, BMW said the nine models to be recalled, including the Cooper S series, were manufactured between November 2006 and January 2011, and warned that the flaw could lead the pump to short-circuit and catch fire.
NEW YORK (AP) — Iconic motorcycle maker Harley-Davidson posted a profit of $105.7 million for the fourth quarter, boosted by improved consumer confidence that prompted more riders to buy its often-pricy bikes. The profit contrasted with a loss in the same period a year ago. The company expects to ship more motorcycles this year.
MONTGOMERY, Ala. (AP) — Executives with Hyundai Motor Manufacturing Alabama say they temporarily shut down production at the company's Montgomery plant after discovering a problem with the paint process. Company spokesman Robert Burns tells The Montgomery Advertiser (http://on.mgmadv.
NEW YORK (AP) — In the trend-setting North American market, BlackBerry phones have gone from must-have messaging toys to outdated clunkers —all in the space of a few years. The new CEO of Research In Motion Ltd., the company behind the phones, says it can claw its way back to the top with new software, but analysts are deeply doubtful.
SAN FRANCISCO (AP) — Tablets and e-readers were a popular gift over the holidays, so much so that the number of people who own them nearly doubled between mid-December and January, a new study finds. A report from the Pew Internet and American Life Project set to be released Monday found that 29 percent of Americans owned at least one tablet or e-reader as of the beginning of this month.
BRUNSWICK, Maine (AP) — The loss of hundreds of jobs that will fly to Wisconsin with Kestrel Aircraft Co. represents the first major setback for the redevelopment of Brunswick Naval Air Station, but there's no need to villainize the company because Maine failed to provide promised help, a redevelopment official said.
SAN CARLOS, Calif. (AP) — A company founded by Neil Young is facing a lawsuit over a fire in the San Francisco Bay Area that authorities say started in a vintage car the rocker had converted into a hybrid vehicle. The San Jose Mercury News reports (http://bit.ly/ytJtkW) that Unigard Insurance Co.
NEW YORK (AP) — General Electric Co. is bracing for another volatile year. The global conglomerate expects to see emerging markets from China to South America continue to grow while Europe falls into a recession. Its own results are also telling two different stories: Fourth-quarter profit improved when the results of sold-off businesses are excluded.
SALT LAKE CITY (AP) — An inflatable vest meant to keep skiers afloat in an avalanche took top honors at a premiere outdoor-gear trade show in Salt Lake City. The $1,300 vest uses air bag technology and a rip cord to inflate two bags, and it can also protect a tumbling skier from head injuries, Stephen Barnes, senior product manager for The North Face, said Friday.
RICHMOND, Va. (AP) — Delegate Bob Marshall doesn't want the federal government telling Virginians what kind of light bulbs to use. The Prince William County Republican has introduced legislation to allow the manufacture and sale of incandescent light bulbs within Virginia's borders after new federal energy standards take effect.
DES MOINES, Iowa (AP) — The U.S. Department of Agriculture awarded $25 million Friday to an eastern Iowa plant for its project to turn garbage into fuel. Maryland-based Fiberight LLC is building the plant, which would work with a local landfill to obtain municipal trash that will be turned into cellulosic ethanol.
TWIN FALLS, Idaho (AP) — Officials with the cheese manufacturer Glanbia Foods say the company is spending up to $15 million to build its corporate headquarters and innovation center in Twin Falls. The expansion, announced Friday, is expected to add 100 jobs when the facility opens in March 2013, with plans to expand to 150.
TORONTO (AP) — The new chief executive of BlackBerry maker Research in Motion said Monday drastic change is not needed after the departure of Jim Balsillie and Mike Lazaridis, who stepped down as co-CEOs and co-chairmen of the once iconic but now struggling company. The RIM founders have been replaced by Thorsten Heins, a little-known chief operating officer who joined RIM four years ago from Siemens AG, RIM said Sunday.
TEXARKANA, Ark. (AP) — Cooper Tire & Rubber Co. announced a tentative contract agreement Friday with its union workers in Texarkana, avoiding a repeat of a labor dispute in Ohio in which the company locked out more than 1,000 plant workers there. The company and United Steel Workers Local 752L released a joint statement announcing the four-year deal.
ROCHESTER, New York (AP) — Eastman Kodak Co. has a little over a year to reshape its money-losing businesses and deliver a get-out-of-bankruptcy plan. Girded by a $950 million financing deal with Citigroup Inc., the photography pioneer aims to keep operating normally during bankruptcy while it peddles a trove of digital-imaging patents.
DETROIT (AP) — The government ended its safety investigation into the Chevrolet Volt on Friday after concluding that the Volt and other electric cars don't pose a greater fire risk than gasoline-powered cars. The National Highway Traffic Safety Administration began studying the Volt last June after a fire broke out in one of the cars three weeks after it was crashed as part of safety testing.
STOCKTON, Utah (AP) — Gary McCloskey may have destroyed more chemical weapons than any man alive, but he barely reacted when the final weapons from the world's largest stockpile of warfare agents came out of an incinerator. McCloskey, a 63-year-old engineer and manager for URS Corp.
MONTREAL — Toymaker Mega Brands Inc. said Friday it has dropped its legal action against rival Lego. The move comes after the U.S. Customs and Border Protection confirmed that it won't block imports of Mega Brands products into the United States. Mega (TSX:MB) stock rose more than three per cent to $8.
KITZBUEHEL Austria (AP) — A high-tech air bag meant to improve safety in ski racing was presented by the International Ski Federation and the manufacturer on Thursday, two years before its planned introduction at the 2014 Sochi Olympics. The D-air system inflates air bags under the race suit in case of a crash, helping to protect the skier's back, chest, shoulders and collar bones.