Irish aircraft leasing company Fly Leasing Ltd. said on Monday that it closed its purchase on 49 planes for $1.4 billion, increasing its fleet to 109 aircraft. Fly bought the planes from Global Aviation Asset Management, an Australian leasing company. The planes are mostly Airbus A320s and Boeing 737s, with an average age of 7.
WATERFORD, Conn. (AP) — Robert J. Marelli Jr., owner and president of the sheet-metal fabricator Seconn, looked five years down the road and didn't like what he saw. The average age for welders nationwide had hit 55, and Marelli knew it was only a matter of time before these workers would hit retirement age, leaving a gaping hole in a business he had spent eight years building up.
AMSTERDAM (AP) — Royal Philips Electronics NV, the world's largest lighting maker, said Monday it will slash 4,500 jobs after third quarter earnings fell sharply, hurt by a strong euro, weaker margins and more losses at its television division, which it intends to sell. Net profit was euro74 million ($102 million) from euro524 million in the same period a year ago, the company said.
NEW YORK (AP) — Apple says it sold more than 4 million units of the new iPhone model in three days. It's selling more than twice as fast as the previous model did when it launched last year. Apple Inc. and its phone company partners started selling the iPhone 4S on Friday in the U.
MILWAUKEE (AP) — After rejecting two previous contract deals, the union for production workers at Oshkosh Corp. easily ratified a new five-year contract Saturday after the maker of military vehicles abandoned a provision that would have allowed it to hire temporary workers. About 77 percent of members approved the deal, said Nick Nitschke, president of the United Auto Workers Local 578.
SEOUL, South Korea (AP) — Samsung Electronics is asking Japanese and Australian courts to block sales of Apple's new iPhone 4S in those countries. The preliminary injunctions Samsung filed Monday in Tokyo District Court and the Federal Court in Australia are part of an intensifying patent battle between the smartphone giants.
DETROIT (AP) — Workers at some of Ford Motor Co.'s largest local unions have approved a new labor contract with the company, making it likely that the four-year deal will be approved when voting finishes on Tuesday. The United Auto Workers union said Sunday night that more than 90 percent of the 2,991 workers voting at the Kansas City Assembly Plant in Claycomo, Mo.
BANGKOK (AP) — Bangkok breathed easier Monday as barriers protecting the capital from Thailand's worst flooding in decades held firm, but authorities ordered a new evacuation in an industrial park north of the city, as the disaster's economic impact worsened. Authorities ordered the evacuation of the Nava Nakorn industrial estate, in Pathum Thani province just north of Bangkok, after water burst through one of several protective walls hurriedly constructed in the past few days.
WASHINGTON (AP) — Factory output rose for a third straight month in September, a sign the economy is growing slowly. Manufacturers made more airplanes, trucks and home electronics to meet rising demand. The Federal Reserve says factory output increased 0.4 percent in September after gaining 0.
DETROIT (AP) — The National Highway Traffic Safety Administration is looking into complaints of engine compartment fires that could affect 36,000 Mini Cooper "S'' models from the 2007 and 2008 model years. The federal safety agency said in documents posted on its website that it has received 12 complaints of fires.
BATAVIA, N.Y. (AP) — A South American yogurt maker has broken ground on a new manufacturing plant in western New York that will be the company's first facility in North America. Local media outlets report that executives from Bogota, Colombia-based Alpina Foods joined local officials Wednesday to break ground on the company's new yogurt manufacturing plant at a Genesee County business park in the town of Batavia, midway between Buffalo and Rochester.
OSHKOSH, Wis. (AP) — Labor negotiations are entering their third day between military-vehicle maker Oshkosh Corp. and United Auto Workers Local 578. Both sides are working toward a new five-year contract. Twice in recent weeks they agreed to tentative contracts and both times the union voted them down.
ALBANY, Ga. (AP) — An Illinois real estate company has purchased the former Cooper Tire and Rubber Co. plant in Albany for $8.5 million. Court records say the transaction between Cooper and Hilco Real Estate LLC of North Brook, Ill., was completed Sept. 29. Ray Kaye, executive vice president of Hilco, confirmed the purchase Wednesday and says the company is already working with prospective tenants.
FARGO, N.D. (AP) — Negotiations between American Crystal Sugar Co. and its union workers are scheduled to resume later this month. A federal mediation service in Minneapolis announced Friday that talks have been scheduled for Oct. 24. The time and place was not disclosed. About 1,300 union workers have been locked out since Aug.
LANSING, Mich. (AP) — Many manufacturers and agribusinesses support a new trade deal with South Korea, one reason President Barack Obama and his counterpart from that nation are heading to suburban Detroit on Friday to tour a General Motors plant where cars are being built with South Korean parts.
TUCSON, Ariz. (AP) — The U.S. Environmental Protection Agency fined medical device maker MRI Manufacturing and Research $30,000 for improper management of hazardous waste at its Tucson plant. The materials at MRI Manufacturing were industrial solvents used to make devices such as tubing for catheters.
MADISONVILLE, Ky. (AP) — Carhartt Inc. will invest more than $11 million to upgrade its Hopkins County facility and expects to add more than 150 employees to its existing workforce there of 550. Carhartt will upgrade technology, equipment and conveyor systems at the facility in Hanson, with work expected to be complete by 2014.
Pratt & Whitney is boosting its investment in jet engines for commercial planes, spending $1.5 billion to buy out Rolls-Royce from a joint venture that makes engines for the Airbus A320. At the same time, the move by Rolls essentially has the British engine-maker sitting out the current generation of smaller commercial planes and biding its time until later in this decade when the new generation comes along.
TOKYO, Oct. 14 (Kyodo) — Toyota Motor Corp. said Friday it has decided to extend its production suspension at its three plants in Thailand through Oct. 22 due to flooding that has disrupted its supply chain. While the flooding has not had a direct impact on its plants or employees, the automaker has decided to extend the production halt as some parts suppliers are experiencing delays, it said.
TOKYO (AP) — Suzuki Motor Corp. said Friday that Volkswagen AG has committed numerous breaches of their 2009 alliance to develop green cars and wants the German automaker to return its Suzuki shares. Volkswagen owns 19.9 percent of Suzuki under a hybrid and electric car partnership inked two years ago that never got off the ground and has unraveled into a public feud.