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.
DETROIT (AP) — General Motors Co. is likely to file paperwork next week that describes its plan to sell shares to the public, a person familiar with the matter said Friday. The Detroit automaker had planned to file the papers on Friday but delayed the move to build distance between the filing and two major announcements it made on Thursday, said the person, who asked not to be identified because the company is not commenting publicly on the stock sale.
CINCINNATI (AP) — Consumer products makers Procter & Gamble Co. said Thursday that it will use a plastic derived from sugarcane in the packaging of some of its products. P&G said the material will be used for Pantene Pro-V, Covergirl, and Max Factor products. The plastic is made from a process that converts sugarcane into high-density polyethylene.
HUTCHINSON, Kan. (AP) — Hutchinson police say a 30-year-old man died when a part from a boiler fell on him. The man, whose name was not released, died Thursday night at Superior Boiler Works. Police Sgt. Eric Buller says the employee was working alone in area of the plant when the accident occurred.
DETROIT (AP) — In a signal moment for the turnaround of the American auto industry, General Motors is edging toward a public stock sale, and its profits are now solid enough that the demanding CEO will step aside, saying his work is done. GM said Thursday that it made $1.3 billion from April through June, its second straight quarter in the black and a complete reversal from last year, when it was forced into bankruptcy and the U.
WASHINGTON (AP) — Hewlett-Packard Co. said Thursday it is cooperating with U.S. and German authorities investigating allegations that three company executives used bribes to win a contract to sell computer gear to the Russian prosecutors' office. German prosecutors have been looking into whether the executives, plus at least six accomplices who did not work for the company, paid bribes totaling 8 million euros (about $10.
DENVER (AP) — A draft report on a tunnel fire that killed five workers at a Colorado hydroelectric plant accuses Xcel Energy Inc. and contractor RPI Coating Inc. of ignoring worker safety. The draft says that a lack of planning for hazardous work and inadequate contractor selection were among problems that contributed to the accident Oct.
WASHINGTON (AP) — A bipartisan group of senators said Thursday they have reached agreement on legislation designed to enhance the safety of the nation's food supply, setting the stage for the full Senate to take up the measure later this year. The bill would give the Food and Drug Administration the power to order a food recall rather than merely request one.
Douglas K. Woods, AMT president June U.S. manufacturing technology consumption totaled $241.47 million, according to AMT — The Association For Manufacturing Technology — and AMTDA, the American Machine Tool Distributors’ Association. This total, as reported by companies participating in the USMTC program, was up 35.
SACRAMENTO, Calif. (AP) — The Texas-based oil companies that are the primary backers of a November ballot effort to suspend California's global warming law are among the state's biggest polluters, according to a report issued Tuesday by two groups advocating for inner-city residents. Valero Energy Corp.
HUNTINGTON, Ind. (AP) — Officials say an auto parts company plans to reopen a closed factory in northeastern Indiana while it is shutting down an Ohio plant. The Journal Gazette of Fort Wayne reports that Continental Structural Plastics expects to spend at least $9.1 million on upgrades to the Huntington factory and perhaps have 350 workers there by 2012.
WASHINGTON (AP) — A government investigation into runaway Toyotas has found no new safety defects beyond problems with accelerator pedals that explain reports of sudden acceleration in the vehicles, according to preliminary findings released Tuesday. Safety experts have said vehicle electronic systems could be to blame for the problems that have led to Toyota's massive recalls but the review by the government, while still at an early stage, has not found any evidence of those issues.
BEIJING (AP) — China's industrial growth slowed further in July as Beijing clamped down on a credit boom, fueling expectations it will ease monetary policy to shore up its economic expansion. Inflation spiked to its highest level this year as summer flooding wrecked crops but analysts said the increase will likely prove temporary.
WASHINGTON (AP) — The White House says President Barack Obama will sign a bill on Wednesday that will help U.S. manufacturers by reducing and suspending some tariffs on certain materials they must import to make their products. Obama is scheduled to sign the bill at the White House. The National Association of Manufacturers says it will help create jobs, cut costs for businesses and consumers and boost U.
MANCHESTER, Conn. (AP) — The president of a Connecticut beer distributor where nine people died in a shooting rampage last week says the company will be reopening after a moment of silence. Hartford Distributors Inc. President Ross Hollander says employees will return to work at the company's offices and warehouse in Manchester Wednesday morning.
HOUSTON (AP) — BP illegally emitted nearly 500,000 pounds of toxic air pollutants at its Texas City refinery during a 41-day period this spring, the state attorney general contends in a lawsuit. According to the lawsuit filed Monday in state district court in Austin, BP's poor operation and maintenance for those days in April and May were the primary cause of the toxic emissions of cancer-causing benzene, carbon monoxide and nitrogen oxides.