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.
DETROIT (AP) — Toyota Motor Corp. says North American production will rise to 70 percent of normal in June as the company begins to recover from parts shortages caused by the earthquake in Japan. The company cut production to about 30 percent of normal in May by idling factories for several days or reducing their hours.
WASHINGTON (AP) — Companies in March advertised the most jobs since the peak of the 2008 financial crisis, a sign that hiring is likely to remain healthy in the months ahead. Job openings rose by 99,000 to 3.1 million in March, the Labor Department said Wednesday. That's the highest level of openings since September 2008 and the second straight monthly increase.
GREENVILLE, S.C. (AP) — The California-based organic frozen food producer Amy's Kitchen is coming to South Carolina with $63 million for a new plant and 700 jobs over six years, officials announced Wednesday. Gov. Nikki Haley hailed the development as a major economic win for the region and the state as a whole.
RICHMOND, Virginia (AP) — The head of cigarette maker Philip Morris International Inc. told a cancer nurse Wednesday that while cigarettes are harmful and addictive, it is not that hard to quit smoking. CEO Louis C. Camilleri 's statement was in response to comments at its annual shareholder meeting in New York, in which the seller of Marlboro and other brands overseas spent most of the gathering sparring with members of anti-tobacco and other corporate accountability groups targeting its marketing and regulatory dealings.
TRENTON, N.J. (AP) — Johnson & Johnson is again recalling a prescription drug because of an odd musty odor likely caused by a chemical on shipping pallets. J&J said Wednesday that it's recalling five lots of its HIV medicine Prezista at the wholesale and pharmacy level in five foreign countries: Austria, Canada, Germany, Ireland and the United Kingdom.
NEW DELHI (AP) — India's Supreme Court rejected an appeal Wednesday to reinstate stronger charges against seven people convicted of negligence in connection with the 1984 toxic gas leak in Bhopal that killed an estimated 15,000 people. The leak at a Union Carbide plant, the world's worst industrial accident, left thousands more with devastating deformities and other health problems.
HARRISONBURG, Va. (AP) — Antitrust regulators have filed a lawsuit to undo the sale of a Tyson Foods Inc.plant in Harrisonburg, Va., saying the deal could hurt competition for farmers in the area. In its civil lawsuit, the U.S. Department of Justice claims the sale would reduce the number of poultry processors around Harrisonburg, giving farmers little choice when it came time to sign contracts to grow chickens.
WASHINGTON (AP) — Sharp U.S. criticism of China's human rights record overshadowed the results achieved at annual high-level meetings between the world's two largest economies aimed at resolving disputes over trade and foreign policy. After two days of talks, the two sides announced a range of modest agreements aimed at increasing sales opportunities for U.
SHANGHAI (AP) — Auto sales edged lower in China in April, the first such decline in over two years, as dealers were dealt a double whammy from weakening demand and the spillover from Japan's earthquake disaster. Automakers delivered 1.55 million vehicles to buyers in April, down 0.25 percent from a year earlier, the China Association of Automobile Manufacturers said in a statement seen Wednesday on its website.
LOS ANGELES (AP) — A California company and two of its executives were convicted Tuesday of conspiracy charges for bribing government officials at Mexico's state-owned utility in exchange for obtaining lucrative contracts. A federal jury found Keith Lindsey, president of Lindsey Manufacturing Co.