STOCKHOLM (AP) — Scrambling for a quick fix for its cash-strapped unit Saab, Spyker Cars NV on Monday signed a distribution deal with the Chinese company Pang Da, but postponed plans to start production in China to avoid regulatory issues. The Netherlands-based Spyker Cars said Pang Da will inject euro65 million ($92 million) for a 24 percent stake in Spyker, and the two will form a 50/50 joint venture for the distribution of Saab cars in China.
PENSACOLA BEACH, Fla. (AP) — Pensacola Beach's famously white sands — coated in thick crude last year after the nation's worst offshore oil spill — are back to their original color, and tourist arrivals outnumber what they were before BP PLC's blown-out well spewed 172 million gallons of oil into the Gulf of Mexico.
JEFFERSON CITY, Mo. (AP) — The prospects for an overhaul of Missouri's economic incentive programs waned Friday as lawmakers neared the end of the last day of their 2011 session. Although negotiations continued, House and Senate members said they had yet to settle their differences on a package that would end or reduce many of the state's existing incentives for businesses, developers and residents while creating new tax breaks to attract international cargo shippers to the St.
WASHINGTON (AP) — LG Electronics Inc. said Friday that it will contest a finding that U.S. rivals such as Whirlpool Corp. are being hurt by imports of bottom-mount refrigerators from South Korea and Mexico. The U.S. International Trade Commission said on Friday that there is a "reasonable indication" that the U.
NEW YORK (AP) — Shares of Tyco International Ltd. rose in Friday trading after a news report said a potential buyer is speaking to private equity firms about partnering on bid for Tyco. THE SPARK: According to the New York Post, France-based Schneider Electric has contacted buyout firms about putting together a bid that could offer $30 billion or more for Tyco, which owns ADT security and a series of other fire protection and industrial companies.
ROCHESTER, New York (AP) — Shares of Eastman Kodak Co. shot higher Friday after a judge at the U.S. International Trade Commission rejected Apple Inc.'s digital-camera patent claims against the photography pioneer. Kodak's technology does not infringe on Apple's patent rights, and one of the two patents in dispute is invalid, Robert Rogers Jr.
DETROIT (AP) — General Motors says it will invest $109 million in two Michigan operations, keeping or creating 96 jobs. The investment will fund production of engines for the Chevrolet Cruze compact and Volt electric car. GM says the money is part of a $2 billion investment announced earlier this week that will create or keep more than 4,000 jobs at 17 GM facilities in eight states.
DETROIT (AP) — Chrysler is moving its normal summer shutdowns at three factories into June from the usual July closings because of parts shortages from the earthquake in Japan. The company says its pickup truck plant in Warren, Mich., and its Toledo, Ohio, North assembly plant will be idled the weeks of June 20 and 27.
MILLVILLE, N.J. (AP) — Officials in a southern New Jersey town are pleased a lucrative military contract will not fly away. The Army will spend an additional $23.7 million with Boeing to continue modifying Chinook helicopters at Millville Airport in Cumberland County through April 2012. The Millville facility opened last year.
WASHINGTON (AP) — The technology industry advances at lightning speed. So perhaps it's no surprise that the expiration of the Justice Department's historic antitrust settlement with software giant Microsoft is passing with little fanfare Thursday. In an age of Apple iPhones, Google Web searches and Facebook friends, Microsoft Corp.
WASHINGTON (AP) — The Treasury Department will hold off on further sales of the stock it owns in General Motors Co. until August at the earliest, according to two people with direct knowledge of the GM situation. These people said Thursday that Treasury will not start selling shares until after the automaker reports its second-quarter results which is expected to occur in mid-August.
TOKYO (AP) — Nissan is hoping to steal U.S. sales from its Japanese rivals, who have been harder hit by the March 11 earthquake and tsunami in Japan. In a memo sent Thursday to dealers, Nissan North America Vice President Al Castignetti said Nissan is in a "much healthier position" than Toyota Motor Corp.
SHANGHAI (AP) — Prospects for a rescue for struggling Saab Automobile remained uncertain Friday as several Chinese automakers brushed off reports they were in talks with the Swedish car company after an earlier financing deal fell through. News that a $233 million (euro 150 million) deal between Spyker Cars NV, which bought Saab from General Motors Corp.
ATLANTA (AP) — Porsche Cars North America said Thursday it plans to consolidate several of its U.S. operations at a new $100 million complex being planned in the Atlanta area, where it already has headquarters. The German luxury automaker said the complex, to be built near the new International Terminal at Hartsfield-Jackson Atlanta International Airport, will include a road course allowing potential customers to take luxury cars for a spin.
NEW HAMPTON, N.Y. (AP) — Federal food safety authorities say chives distributed in nine states by an upstate New York company are being recalled because of possible Listeria contamination. The Food and Drug Administration says the chives from Goodness Gardens Inc. of New Hampton were sold primarily through retailers in New York, New Jersey, Connecticut, Massachusetts, Pennsylvania, Maryland, Alabama, Illinois and Virginia.
WASHINGTON (AP) — Businesses added to their stockpiles for a 15th straight month in March while their sales rose for a ninth consecutive month, suggesting factory production will remain strong in coming months. The Commerce Department reported Thursday that businesses increased inventories 1 percent in March while sales rose an even larger 2.
MOUNT VERNON, Ill. (AP) — The maker of Continental and General brand tires says it's investment of $224 million into its southern Illinois plant will mean more than 440 new jobs. Continental Tires the Americas made the announcement at its Mount Vernon factory, saying the full-time jobs will be added over the next three years.
WILMINGTON, Del. (AP) — Ford Motor Co. CEO Alan Mulally says hasn't given any thought to stepping down. Mulally's comments came in a brief meeting with reporters after Ford's annual shareholders meeting in Wilmington, Del. The 65-year-old chief executive was hired away from Boeing Co. in 2006 to rescue Ford, which at the time was struggling near the brink of bankruptcy.
STOCKHOLM (AP) — Struggling car maker Saab Automobile faced renewed uncertainty Thursday as the financing deal with China's Hawtai Motor Group fell apart, raising fresh concerns about the company's future. Spyker Cars NV, which bought Saab from General Motors Corp. in 2010, said it was "forced to terminate" the $223 million (euro150 million) agreement with Hawtai since the Chinese company was not able to obtain all the necessary consents, including approvals from different shareholders.
WASHINGTON (AP) — U.S. companies in March sold the most goods and services overseas in nearly two decades. But a big jump in oil prices pushed the nation's trade deficit higher. The trade deficit rose 6 percent to $48.2 billion, the Commerce Department said Wednesday. That's the highest level since June 2010.