Deere & Co. said Wednesday that its second-quarter profit jumped 16 percent as sales of farm and construction equipment improved, so the maker of iconic green and yellow machinery raised its outlook for the second time this year. The Moline, Ill.-based company said it generated $547.5 million in net income, or $1.
WASHINGTON (AP) — Prices at the wholesale level fell in April, reflecting declines in energy and food. The Labor Department said Tuesday that wholesale prices edged down 0.1 percent last month, the second decline in the past three months. Core inflation, which excludes energy and food, rose 0.
SIOUX CITY, Iowa (AP) — An Arizona-based company says it wants to open a wind turbine blade plant in Sioux City, which has recently suffered large layoffs. Sioux City officials and TPI Composites say in state documents that the company wants to open a 250,000-square-foot factory that would employ 500 workers.
SHANGHAI (AP) — U.S. Commerce Secretary Gary Locke led his first trade mission to China's financial center Tuesday, working to deliver on President Barack Obama's pledge to double U.S. exports and create 2 million jobs. The visit to China, ahead of an annual economic dialogue, comes as both countries seek to smooth trade tensions and cultivate new business opportunities while grappling with uncertainties revived by the European financial crisis.
WASHINGTON (AP) — The Treasury Department said Monday it will lose $1.6 billion on a loan made to Chrysler in early 2009. Taxpayer losses from bailing out Chrysler and General Motors are expected to rise as high as $34 billion, congressional auditors have said. Treasury said Monday that Chrysler repaid $1.
NEW YORK (AP) — Pfizer Inc. said Tuesday it will cut 6,000 jobs as it trims its manufacturing capacity worldwide after acquiring smaller rival Wyeth last year. The world's biggest drugmaker says it will cease operations at eight plants in Ireland, Puerto Rico, and the U.S. by the end of 2015, and reduce operations at six other plants over the next several years.
DETROIT (AP) — In less than a year, General Motors Co. has roared back from bankruptcy to a quarterly profit. Now comes the hard part: Sustaining the income and repaying billions of dollars in government aid. There are signs that GM is on track to do just that. Revenue is up 40 percent over the first quarter of last year.
BEIJING (Kyodo) — China's Air Force has refused to accept 16 J-11B fighters manufactured by a domestic aircraft maker due to technical problems, the Kanwa Defense Review magazine said in its June issue, quoting a Western intelligence source in Beijing. China is believed to have developed the new fighter based on technology from the Russian fighter Sukhoi Su-27, sparking speculation that the maker, Shenyang Aircraft Corp.
WASHINGTON (AP) — The Army says it is recalling 44,000 advanced combat helmets that have been issued to soldiers worldwide because they do not meet military specifications. The Army said in a statement Friday that the risk to soldiers wearing the helmets is still being determined. New helmets are being issued to anyone who has a defective one.
STUART, Fla. (AP) — If you've ever perched on the fiberglass platform that juts out from the back of a boat, it might have been made by Beachcomber Fiberglass Technology. The Stuart company, in business since 1978, builds those swim platforms and other ubiquitous items that are so much a part of boating and marinas that most people never think about their origins.
KETTLE FALLS, Wash. (AP) — Roaring furnaces unleash the energy of wood at Avista Corp.'s Kettle Falls generating station. Chips and bark become white-hot ash as temperatures soar to 2,500 degrees inside the massive seven-story furnaces. The searing heat produces steam, which runs a turbine for electricity.
COLEBROOK, N.H. (AP) — The investigation into a series of explosions at a gun and ammunition manufacturing plant in far northern New Hampshire that killed two people has led to one machine, the state's fire marshal said Saturday. Bill Degnan said that the investigation into Friday's explosions at the MDM Muzzleloader building has led to a machine in the manufacturing section of the plant.
DETROIT (AP) — General Motors Co. rode expense cuts from its bankruptcy and strong sales of redesigned models to its first quarterly net income in nearly three years. The $865 million first-quarter profit is a dramatic reversal from the huge $6 billion loss in the same period last year. The last time the company made a quarterly profit was the second quarter of 2007, when it earned $891 million.
LAS VEGAS (AP) — A California company is planning to build a $20 million manufacturing plant for solar power cells in the Las Vegas area. The operation will employ about 278 workers, according to officials at Amonix Inc., which is based in Seal Beach, Calif. The plan was announced Saturday during a dedication ceremony in Henderson for a 308-kilowatt solar installation that the company sold to Southern Nevada Water Authority.
WAKARUSA, Ind. (AP) — An Elkhart County assembly line has begun turning out Navistar e-Star electric trucks that can travel 100 miles on a single charge. Navistar says the all-electric eStar medium-duty commercial truck being turned out in Wakarusa has batteries can be replaced in about 20 minutes and recharged in six to eight hours.