NEW YORK (AP) — General Motors Co. remains committed to repaying its billions of dollars in government loans, though it's too soon to say when that will happen, the automaker's chairman said Tuesday. "Can GM pay back its loans? You bet," Ed Whitacre said during an address at Texas Lutheran University in Seguin, Texas.
SINGAPORE (AP) — Stubbornly high joblessness threatens to trigger loan defaults and drag on consumption next year, hobbling a U.S. economy struggling to rebound from recession, World Bank President Robert Zoellick said Wednesday. Zoellick warned that the U.S. unemployment rate, which jumped to a 26-year high of 10.
CINCINNATI (AP) — The Procter & Gamble Co. ( NYSE:PG ) is centralizing some research and development operations, affecting some 700 jobs. P&G says it expects most of the affected employees in southwest Ohio and Massachusetts to transfer to new locations, but will work on alternatives for those who can't move.
MINNEAPOLIS (AP) — Roughly 1,250 Twin Cities janitors with suspect employment documents were fired from their jobs in October as their company carried out an audit prompted by Immigration and Customs Enforcement, an immigration attorney said Monday. The janitors worked for ABM Industries Inc.
COSTA MESA, Calif. (AP) — Emulex Corp. ( NYSE:ELX ), which makes data storage equipment, said Monday it has filed a lawsuit against chip designer Broadcom Corp. ( NYSE:BCRM ), alleging violations of federal antitrust laws. Emulex's suit alleges that Broadcom, based in Irvine, Calif., acted in an uncompetitive manner, made defamatory statements and engaged in acts of unfair competition in violation of seven separate statutes.
SALINA, Kan. (AP) — Airplane maker Hawker Beechcraft Corp. announced Monday that it will close its Salina operation. The company, one of the nation's leading business jet manufacturers, said in a news release that it informed its Salina employees and the International Association of Machinists leadership Monday morning.
LOS ANGELES (AP) — A Los Angeles businessman has been sentenced to 2 1/2 years in federal prison for selling uncertified aircraft manufacturing parts that were used to make Boeing 737 airplanes. Prosecutors say 74-year-old Duane Lepire was sentenced Monday in U.S. District Court after pleading guilty in April to fraud for selling commercial-grade rubber gaskets that were not approved for aviation manufacturing.
BERLIN (AP) — German Chancellor Angela Merkel pressed General Motors Co. on Tuesday to present a "reliable concept" for the future of its European unit Opel, adding that GM should produce most of the funding. GM last week called off the planned sale of a majority of Opel, based in Germany, to a consortium of car parts maker Magna International Inc.
BEIJING (AP) — Days after coming to power in September, Japan's new prime minister broached forming a new East Asian trading bloc with rival China — one that would exclude the United States. Some in Washington took it as a snub from the nation that has been America's rock in Asia for decades.
LONDON (AP) — Kraft Foods Inc. launched a 9.8 billion pound ($16.4 billion) hostile bid for Cadbury PLC on Monday — refusing to sweeten a previous offer rejected by the British candy maker. The terms of the cash-and-stock approach were left unchanged, effectively representing a lower offer for Cadbury investors because of a shift in share prices of both companies.
TORONTO (CP) — General Motors Co. will reportedly invest nearly $100 million to increase production at an assembly plant in Ingersoll, Ont. Sources tell the Globe and Mail the upgrade to Cami Automotive Inc. will be announced today at the facility in southwestern Ontario. The investment is designed to boost output of the Chevrolet Equinox and GMC Terrain crossover utility vehicles.
BEIJING (AP) — Powered by tax cuts and stimulus spending, China's October auto sales soared 72 percent from a year earlier, outpacing U.S. sales for another month, according to data reported Monday. Automakers sold a total of 1.2 million cars and trucks, the government-sanctioned China Association of Auto Manufacturers announced.
STERLING HEIGHTS, Mich. (AP) — General Dynamics Corp. ( NYSE:GD ) is building a Detroit-area center it says will speed the design and construction of new military land vehicles. General Dynamics Land Systems holds a groundbreaking ceremony Monday in Sterling Heights, where the division is headquartered.
STURGIS, S.D. (AP) — As many as 30 new jobs are coming to the South Dakota town of Sturgis. California-based Bar-Sto Precision Machine Co. has announced plans to open a new facility on the south end of the Sturgis industrial park. The Bar-Sto plant will manufacture precision gun barrels for most of the handguns in use today by law enforcement agencies, as well as by competitive shooters.
BUFFALO, W.Va. (AP) — Workers at the Toyota Motor Corp. ( NYSE:TM ) plant in Buffalo have filed a grievance with the National Labor Relations Board, saying they're being denied the right to pass out union literature. The complaint was filed Friday at the federal agency's regional office in Cincinnati.
COLUMBUS, Ohio (AP) — Alcoa Inc. ( NYSE:AA ) plans to invest more than $110 million at its Cleveland plant in part to refurbish a forging press used in the production of the F-35 Joint Strike Fighter plane. Ohio Governor Ted Strickland said Thursday that the investment will help keep good jobs in Cleveland.
BIRMINGHAM, Ala. (AP) — A federal court has ruled that Tyson Foods Inc. ( NYSE:TSN ) violated federal labor standards for not paying production line employees for the time it takes them to put on and remove protective and sanitary gear. The company was ordered to pay $250,000 in damages, according to the ruling Wednesday in U.
MONTGOMERY, Ala. (AP) — Alabama is benefiting from Kia's assembly plant on the Georgia state line. The Alabama Development Office released a statement Thursday saying Kia is responsible for more than 3,600 new jobs at automotive supplier plants located in Alabama. Those workers are employed at 34 different plants in Alabama, including 12 new suppliers that came after Kia announced the decision for its first U.
BEIJING (AP) — China criticized Washington for imposing anti-dumping duties on Chinese-made steel pipes and launched a probe Friday of imported U.S. autos, adding to trade tensions two weeks before President Barack Obama visits Beijing. The latest moves ratchet up disputes over market access for goods from poultry and tires to Hollywood movies.
DETROIT (AP) — Air bags have long been mounted in the steering wheel, dashboard and sides of vehicles. Now, they're in the seat belts. Ford Motor Co. ( NYSE:F ) plans to introduce seat belt-mounted air bags in the back seat of the 2011 Ford Explorer sport utility vehicle, which will hit the market next fall.