BEIJING (AP) — Ford's chief executive says the growth of China's auto market is sustainable as the company looks to launch 15 new vehicles by 2015 in the country. Alan Mulally said Monday that China is a sustainable market with the country's leadership focused on keeping inflation in check without derailing economic growth.
DETROIT (AP) — Contract talks between Chrysler and the United Auto Workers union have restarted after breaking down earlier this week over financial issues, the union and the company said Saturday. UAW President Bob King and Chrysler CEO Sergio Marchionne had "productive discussions" on Friday and talks are continuing, both sides said in a statement.
NEW YORK, Sept. 25 (Kyodo) — All Nippon Airways Co. received the first of Boeing Co.'s long-delayed 787s at the U.S. manufacturer's plant in Everett in the state of Washington on Sunday to launch the fuel-efficient, wide-body aircraft for passenger service in November. The Dreamliner, which was initially scheduled to be delivered to the Japanese carrier in May 2008 but saw a series of delays over the years, is due to arrive at Tokyo's Haneda airport Wednesday morning local time.
SHANGHAI (AP) — Signs that the powerhouse Chinese economy is slowing have spooked global markets and sharpened fears that the world economy will not escape another recession, so much so that a small, preliminary survey of Chinese manufacturers contributed to a global stock market plunge this week.
NEW YORK (AP) — Texas Instruments Inc. said Friday that it completed its $6.5 billion purchase of National Semiconductor Corp. The deal had cleared regulatory reviews earlier this week. Under the terms of the deal, Texas Instruments agreed to pay $25 for each outstanding share of National common stock.
SEOUL, South Korea (AP) — A top Samsung executive says the company will take a bolder stance in its patent battle with smartphone and tablet rival Apple, which Samsung claims has been "free riding" on its patented wireless technologies. "We'll be pursuing our rights for this in a more aggressive way from now on," Lee Younghee, head of global marketing for mobile communications, said Friday in an interview.
DETROIT (AP) — The United Auto Workers union shifted the focus of its contract talks to Ford Wednesday night after failing to reach a deal with Chrysler. The move could mean trouble in the talks with Chrysler, which was close enough to a deal with the union that CEO Sergio Marchionne flew from Europe to the U.
NEW YORK (AP) — At his first press conference as CEO of Ford, Alan Mulally was asked how he could run such a complex company with no experience in the car business. The former Boeing executive responded that cars, which have around 10,000 parts, are indeed very sophisticated. Then he smiled and noted that a jumbo jet has 4 million parts — and it flies.
WASHINGTON (AP) — The union in a high-profile labor dispute with Boeing Co. says newly released documents show the company opened a new plant in South Carolina to limit the power of employee unions in Washington state. The Machinists union says the documents bolster the government's lawsuit accusing the company of retaliating against unions by opening a second production line for the 787 aircraft in Charleston.
CONWAY, Ark. (AP) — Virco Manufacturing Co. in Conway says it plans to offer buyouts and early retirement to total of 115 employees. The company makes furniture for schools and has operated in Conway since 1950. Virco told the Log Cabin Democrat (http://bit.ly/rrPvMu) on Thursday that the slow economy has slowed the pace of new orders and it has to reduce its workforce.
WILLIAMSTOWN, W.Va. (AP) — Hino Motors Manufacturing USA is preparing to resume full production at its West Virginia plant following a cutback caused by a parts shortage. Sandy Ring with Hino's home office in Michigan says the Williamstown plant has returned to a five-day work week with three days of production.
LAFAYETTE, Ind. (AP) — Caterpillar Inc. has recalled many of the 400 workers it laid off from a central Indiana engine plant and is starting to hire more people. The Lafayette Redevelopment Commission on Thursday approved a $50,000 grant to Caterpillar for training new workers that the company plans to hire in the next year.
WASHINGTON (AP) — A Republican House chairman blasted the solar industry Thursday, calling loans to solar panel manufacturers, such as ill-fated Solyndra Inc., a poor bet and predicting the solar panel industry itself could collapse in the United States. An industry group immediately disputed the remark by Rep.
DETROIT (AP) — Negotiations over a new four-year contract between Chrysler and the United Auto Workers have broken down as both sides refuse to budge on key financial issues, two people briefed on the bargaining said Thursday. The talks ended late Wednesday in a dispute over the number of workers who are paid an entry-level wage, said the people, who asked not to be identified because the negotiations are private.
OSSEO, Wis. (AP) — Instead of sending work to Mexico, a manufacturer is bringing jobs from Mexico to Wisconsin. Global Finishing Solutions is completing a $10 million expansion at its headquarters in Osseo (AHS'-ee-oh) that's expected to create 111 new jobs over the next three years.
LUXEMBOURG (AP) -- "There's only one Budweiser beer," according to the Anheuser-Busch advertising jingle. But that's not the case in Britain, as an EU court ruled Thursday that Anheuser-Busch and the Czech brewer Budvar can both continue to use the Budweiser trademark. British beer drinkers are well used to there being two Buds.
DETROIT (AP) — Moody's Investors Service is considering upgrading General Motors Co.'s credit ratings based on improvements in its finances and the expected ratification of a new contract with the United Auto Workers union. GM currently has a Ba2 corporate family rating and a Baa3 secured credit rating from Moody's.
NEW YORK (AP) — United Technologies Corp. said it will buy Goodrich Corp. for about $16.4 billion in cash, calling the aerospace and defense company a perfect addition that will allow it to take advantage of rapidly growing demand for aircraft components. The Hartford, Connecticut-based industrial conglomerate already owns jet engine manufacturer Pratt & Whitney as well as Carrier heating and cooling, Otis elevator and other businesses.
WASHINGTON (AP) — Young adults are the recession's lost generation. In record numbers, they're struggling to find work, shunning long-distance moves to live with mom and dad, delaying marriage and raising kids out of wedlock, if they're becoming parents at all. The unemployment rate for them is the highest since World War II and risk living in poverty more than others.
WASHINGTON (AP) — Federal regulators want to fine the Cessna Aircraft Co. $2.4 million, saying the company's failure to follow quality-control procedures caused a 7-foot composite section of the wing of small, high-performance plane to detach during a test flight. The Federal Aviation Administration said Thursday that one of the agency's pilots was conducting a test flight of the Cessna Corvalis last December when a portion of the wing skin separated from the forward spar and damaged a fuel tank.