WASHINGTON (AP) — President Barack Obama is poised to ask Congress to agree to $9 billion more in loan guarantees for the nuclear energy industry, a Democratic aide said Thursday, in a renewed push for nuclear power as the growing oil spill in the Gulf of Mexico highlights the risks of fossil fuel production.
NEW YORK (AP) — PepsiCo Inc. said Friday that it plans to invest an additional $2.5 billion in China in the next three years on new plants and research facilities as the food and beverage maker builds up its presence in the growing market. The company made the announcement in a news release Friday from Shanghai, site of the Shanghai Expo, where PepsiCo is a sponsor of the USA Pavilion.
OSCEOLA, Wis. (AP) — Polaris Industries Inc. says it will shut down its parts plant in the western Wisconsin city of Osceola (ahss-see-OH'-luh). The Medina, Minn.-based maker of snowmobiles, ATVs and Victory motorcycles says it's moving many of the operations to a new facility in the Monterrey-Saltillo area of Mexico.
GUANGZHOU, China (AP) — A worker at Foxconn Technology Group, which makes iPhones and iPads, jumped to his death Friday from a building in the southern Chinese boomtown of Shenzhen — the ninth suicide this year at the world's largest contract maker of electronics, state-run media reported.
LOS ANGELES (AP) — The heads of Tesla Motors Inc. and Toyota Motors Corp. surprised the auto world Thursday by announcing a partnership to develop and build electric cars at a recently shuttered auto plant in the San Francisco Bay area. Akio Toyoda, CEO of the world's largest automaker, said Toyota will invest $50 million in Tesla when the company begins selling stock to the public, and Tesla CEO Elon Musk said his company will purchase the New United Motor Manufacturing Inc.
JACKSON, Miss. (AP) — Nissan Motor Co. is planning to recall 48,700 trucks and sport utility vehicles for problems with a suspension part that could lead to a rough ride. Spokesman Colin Price says the company is working on details with the National Highway Traffic Safety Administration and expects the recall to begin this week.
BRUSSELS (AP) — The European Union fined 10 producers of memory chips, including Samsung, a combined euro331 million ($403 million) on Wednesday for colluding in a price-fixing cartel. The EU Commission said that the companies, mostly non-European, rigged the market between 1998 and 2002 by sharing secret information which allowed them to set prices and quotations for Dynamic Random Access Memory chips in Europe.
DETROIT (AP) — AM General LLC, best known as the maker of hulking Humvees and gas-guzzling Hummers, is going greener with a new foray into the electric vehicle business. The South Bend, Ind., company will handle final assembly of Ford Motor Co.'s electric Transit Connect commercial vans, which will go on sale next spring.
TACOMA, Wash. (AP) — U.S. Treasury Secretary Tim Geithner visited some of the top exporters in Washington state on Tuesday in advance of a trip to encourage China to open more of its markets to American companies and their products. After going to Boeing Co.'s 737 jetliner plant in Renton, Geithner and Gov.
HAMMELBURG, Germany (AP) — On the outside, it looks like a normal SUV. But the prototype "autonomous robot car" — fitted with sensors and scanners, multifocal camera systems and powerful computers — might one day help avoid military fatalities from bombings and ambushes — or so its designers hope.
Deere & Co. said Wednesday that its second-quarter profit jumped 16 percent as sales of farm and construction equipment improved, so the maker of iconic green and yellow machinery raised its outlook for the second time this year. The Moline, Ill.-based company said it generated $547.5 million in net income, or $1.
WASHINGTON (AP) — Prices at the wholesale level fell in April, reflecting declines in energy and food. The Labor Department said Tuesday that wholesale prices edged down 0.1 percent last month, the second decline in the past three months. Core inflation, which excludes energy and food, rose 0.
SIOUX CITY, Iowa (AP) — An Arizona-based company says it wants to open a wind turbine blade plant in Sioux City, which has recently suffered large layoffs. Sioux City officials and TPI Composites say in state documents that the company wants to open a 250,000-square-foot factory that would employ 500 workers.
SHANGHAI (AP) — U.S. Commerce Secretary Gary Locke led his first trade mission to China's financial center Tuesday, working to deliver on President Barack Obama's pledge to double U.S. exports and create 2 million jobs. The visit to China, ahead of an annual economic dialogue, comes as both countries seek to smooth trade tensions and cultivate new business opportunities while grappling with uncertainties revived by the European financial crisis.
WASHINGTON (AP) — The Treasury Department said Monday it will lose $1.6 billion on a loan made to Chrysler in early 2009. Taxpayer losses from bailing out Chrysler and General Motors are expected to rise as high as $34 billion, congressional auditors have said. Treasury said Monday that Chrysler repaid $1.
NEW YORK (AP) — Pfizer Inc. said Tuesday it will cut 6,000 jobs as it trims its manufacturing capacity worldwide after acquiring smaller rival Wyeth last year. The world's biggest drugmaker says it will cease operations at eight plants in Ireland, Puerto Rico, and the U.S. by the end of 2015, and reduce operations at six other plants over the next several years.
DETROIT (AP) — In less than a year, General Motors Co. has roared back from bankruptcy to a quarterly profit. Now comes the hard part: Sustaining the income and repaying billions of dollars in government aid. There are signs that GM is on track to do just that. Revenue is up 40 percent over the first quarter of last year.
BEIJING (Kyodo) — China's Air Force has refused to accept 16 J-11B fighters manufactured by a domestic aircraft maker due to technical problems, the Kanwa Defense Review magazine said in its June issue, quoting a Western intelligence source in Beijing. China is believed to have developed the new fighter based on technology from the Russian fighter Sukhoi Su-27, sparking speculation that the maker, Shenyang Aircraft Corp.
WASHINGTON (AP) — The Army says it is recalling 44,000 advanced combat helmets that have been issued to soldiers worldwide because they do not meet military specifications. The Army said in a statement Friday that the risk to soldiers wearing the helmets is still being determined. New helmets are being issued to anyone who has a defective one.
STUART, Fla. (AP) — If you've ever perched on the fiberglass platform that juts out from the back of a boat, it might have been made by Beachcomber Fiberglass Technology. The Stuart company, in business since 1978, builds those swim platforms and other ubiquitous items that are so much a part of boating and marinas that most people never think about their origins.