SHANGHAI (AP) — An Australian former Rio Tinto executive decided voluntarily not to appeal a 10-year prison sentence in a high-profile bribery and commercial spying case and is "peaceful and relaxed," his lawyer said Friday. Stern Hu's decision, announced Thursday, prompted suggestions he was concerned an appeal might lead to an even more severe sentence in a case that rattled foreign businesses in China.
EVERETT, Wash. (AP) — Boeing Co. says the stress tests for its new 787 jetliner's wing and fuselage went as planned. On March 28, workers at Boeing's Everett, Wash., plant bent the wing of a special test 787 by 150 percent of the most extreme forces it would experience in flight — about 25 feet upward at the wing tip.
WASHINGTON (AP) — Five days before Toyota announced a massive recall, a U.S. public relations executive at the automaker warned colleagues in an internal e-mail: "We need to come clean" about accelerator problems, according to documents obtained by The Associated Press on Wednesday. "We are not protecting our customers by keeping this quiet," wrote Irv Miller, group vice president for environment and public affairs.
DETROIT (AP) — General Motors Co. says it lost $4.3 billion in the last half of 2009 as it struggled to emerge from bankruptcy protection, repay government loans and cope with a severe downturn in U.S. sales. However, the automaker says it still sees a chance of achieving profitability in 2010.
MUMBAI, India (AP) — U.S. Treasury Secretary Timothy Geithner will visit Beijing for talks with a Chinese vice premier for economic affairs on Thursday, Geithner's spokesman said, in a sign the two sides are moving toward settling a dispute over China's currency controls. Geithner will meet with Vice Premier Wang Qishan, spokesman Andrew Williams said Wednesday, as the Treasury secretary ended a two-day visit to India.
BEIJING (AP) — Product safety officials in China are investigating jewelry makers and warning them against using cadmium after high levels of the cancer-causing metal were found in Chinese-made children's trinkets sold in the United States. Product safety watchdogs in several Chinese cities have told jewelry manufacturers they will be shut down if their products are found to contain cadmium, though none reached Wednesday would say whether they had found any cadmium products or closed any factories.
FORT MADISON, Iowa (AP) — Authorities say quick action by firefighters prevented a disaster at a Fort Madison company. Crews managed to contain the fire to the room where it started early Tuesday at the Gregory Design and Manufacturing plant. The company designs and produces flat and automotive glass racks.
WASHINGTON (AP) — Long before Toyota told U.S. regulators about sticking accelerator pedals, the Japanese automaker warned its distributors throughout Europe about similar problems, documents obtained by The Associated Press show. Concerns about sticking gas pedals and complaints from Toyota owners in the U.
FORT SMITH, Ark. (AP) — Mitsubishi said Tuesday it is aiming to produce wind turbines in Arkansas by next year at a new $100 million plant, a facility that signals the company is seeking to regain its U.S. customers. Company executives gathered with state and local officials to mark Mitsubishi's decision to build the plant, which will employ at least 400 people and help stem the tide of manufacturing jobs that have left the Fort Smith area.
JULIAN, W.Va. (AP) — The coal mine rocked by an explosion that killed at least 25 workers in the nation's deadliest mining disaster since 1984 had been cited for 600 violations in less than a year and a half, some of them for not properly ventilating methane — the highly combustible gas suspected in the blast.
NEW ORLEANS (AP) — V-Vehicle Co., a startup automaker planning to build its vehicle in northeastern Louisiana, will apply again for $321.1 million in government loans, but must come up with another $100 million in private investment and credit to satisfy federal concerns, the acting company head said Tuesday.
PARIS (AP) — Renault SA and Nissan Motor Co. will unveil a parts-sharing and research alliance with German automaker Daimler AG on Wednesday, officials said. The carmakers will hold a joint news conference in Brussels to present the partnership, which will also see the companies exchange small stakes of around 3 percent, two officials close to Renault told The Associated Press on Tuesday.
NEW YORK (AP) — Metal processor Metals USA Holdings Corp. wants to raise about $200 million in an initial public offering this week. The Fort Lauderdale, Fla., company is being taken public by private equity firm Apollo Management LP, which owns more than 90 percent of the company. After the IPO, Apollo would own more than 60 percent of Metals USA.
ST. PAUL, Minn. (AP) — Boston Scientific Corp.'s Guidant LLC division pleaded guilty Monday to two federal misdemeanor counts alleging it failed to properly disclose changes made to some implantable heart devices. The deal calls for Guidant to pay more than $296 million, which federal prosecutors called the largest criminal penalty ever assessed against a medical device company.
CONNERSVILLE, Ind. (AP) — Hundreds of people attended information sessions to learn about possible jobs at a startup company planning to build high-tech police cars in eastern Indiana. Carbon Motors is awaiting approval of a $310 million federal loan before it starts hiring potentially 1,500 workers for the Connersville factory.