NEW YORK (AP) — Electric car manufacturer Tesla Motors Inc. said Friday it plans to sell stock to the public. The company, based in Palo Alto, Calif., did not disclose in a filing with the Securities and Exchange Commission specifically how much it plans to raise though it listed $100 million as a placeholder figure.
WASHINGTON (AP) — The economy's 5.7 percent growth last quarter — the fastest pace since 2003 — was a step toward shrinking the nation's 10 percent unemployment rate. There's just one problem: Growth would have to equal 5 percent for all of 2010 just to lower the average jobless rate for the year by 1 percentage point.
WASHINGTON (AP) — Toyota Motor Corp. said Monday its dealers should get parts to fix a sticky gas pedal problem by the end of this week as the automaker apologized to customers and tried to bring an end to a recall that has affected 4.2 million vehicles worldwide. The company said in a statement that it has begun shipping parts and is training dealers on the repairs.
SPRINGFIELD, Ill. (AP) — A corporate spokesman says Honeywell Hobbs expects to complete the phase-out of its Springfield manufacturing plant and eliminate approximately 120 jobs by the end of the year. The closing would end the company's more than 70-year run in Springfield. A second plant in Spring Valley, about 60 miles northeast of Peoria, will be shut down by midyear.
EAST CHICAGO, Ind. (AP) — Company and union officials say steel maker ArcelorMittal is planning to restart a blast furnace at a northwestern Indiana mill in a move that could put hundreds of workers back on the job. The company says it is increasing production at the East Chicago plant in response to improving market demand.
WASHINGTON (AP) — Wages and benefits paid to U.S. workers posted a modest gain in the fourth quarter, ending a year in which recession-battered workers saw their compensation rise by the smallest amount on records going back more than a quarter-century. The anemic gains have raised concerns about the durability of the economic recovery.
WASHINGTON (AP) — A key House Republican leader said the GOP expects President Barack Obama to do more listening than talking when he huddles privately with lawmakers Friday at a retreat in Baltimore. Obama wants to offer tax credits to companies that hire new workers, a plan that drew a cool reception from Congress last month despite the nation's double-digit unemployment rate.
DETROIT (AP) — Toyota Motor Corp. says it has figured out how to fix a problem with sticking accelerator pedals and will update employees with details. The company said in an e-mail to workers Thursday night that it presented a remedy to federal regulators. The e-mail obtained by The Associated Press says that plans are being developed on a variety of fronts.
CHARLESTON, W.Va. (AP) — Three recent chemical leaks at a DuPont plant, one of which killed a worker, don't appear to be related, a federal investigator said Thursday. U.S. Chemical Safety Board investigator Johnnie Banks promised a thorough investigation into the leaks, which prompted the plant's temporary shutdown over the weekend.
NEW YORK (AP) — Oracle Corp. is planning to hire 2,000 sales and engineering employees, which will outnumber the cuts it is making at its latest acquisition, Sun Microsystems Inc., The Wall Street Journal reported on Tuesday. Oracle CEO Larry Ellison told the newspaper that his company, the leader in proprietary database software, is charting a new course with its $7.
PEORIA, Ill. (AP) — Caterpillar said Wednesday that its fourth-quarter profit tumbled as its dealer inventories dwindled, the same reason the company expects sales and revenue to rebound this year. Leading the way will be China and other developing countries where the world's biggest mining and construction equipment company has seen an increasing share of its business go.
INDIANAPOLIS (AP) — Union workers are joining with environmentalists in calling on state lawmakers to pass legislation they say would bring new "green" manufacturing jobs to Indiana. Members of the Blue Green Alliance held a news conference Tuesday at the Statehouse to urge state lawmakers to pass legislation requiring that the state get a certain percentage of its electricity from renewable sources.
MINNEAPOLIS (AP) — Boeing is giving a cautious outlook for 2010 after dealing with program delays and declining orders in 2009. The airplane maker and defense contractor expects to earn $3.70 to $4 per share. Wall Street analysts were expecting $4.26. Boeing says the guidance accounts for lower production of its 777 aircraft, some smaller defense programs, and "market risks.
TOKYO (AP) — The faulty gas pedals that prompted Toyota to suspend U.S. sales of eight of its most popular models — including the Camry, America's best-selling car — are also in its vehicles sold in Europe, an official with the automaker said Wednesday. Toyota Motor Corp.
NEW YORK (AP) — Toyota's suspension of U.S. sales on an unprecedented scale to fix faulty gas pedals deals a blow to the automaker's reputation for quality and endangers its fledgling earnings recovery. The suspect parts are made by a U.S. supplier, but they are also found in its European-made vehicles, an official with the automaker said Wednesday.
FULTON, Miss. (AP) — Federal labor officials are recommending that three Mueller Industries subsidiaries in Mississippi pay $638,000 in fines for allegedly exposing employees to unsafe working conditions. The U.S. Department of Labor's Occupational Safety and Health Administration cited the companies in Fulton for 128 alleged violations.
OSHKOSH, Wis. (AP) — The defense arm of Oshkosh Corp. has received two hefty military orders for spare parts and repair kits for its new class of mine-resistant trucks. Oshkosh Defense said Monday the deals with the U.S. Army are worth more than $325 million. The parts are for M-ATVs, which are all-terrain military vehicles that are specially designed for the rougher terrain of Afghani battlefields.
CHARLESTON, W.Va. (AP) — The U.S. Chemical Safety Board says a four-member team of investigators is heading to DuPont's idled chemical plant in Belle. The board says it expects the team to be on site Tuesday to start investigating a series of leaks that resulted in the death of one worker and the operation's temporary shutdown over the weekend.
DETROIT (AP) — General Motors Corp. is back in the electric motor business. The automaker said Tuesday that starting in 2013, it plans to build its own electric motors for hybrid and electric vehicles. GM has been getting electric motors for those vehicles from suppliers, but wants to make the motors in-house in order to lower costs and improve quality and reliability.
PARIS (AP) — A group of U.S. employees at French food services giant Sodexo on Monday demanded workplace protections in North America similar to those their colleagues in France enjoy. Their tactics were viewed with curiosity in France, where it is more common to see French labor unions pressing for more rights from big American employers.