TOKYO (AP) — Toyota has cut 600 workers at its Japanese factories, the company said Tuesday, as it prepares for a drop in local sales when incentives for green cars run out next month. Toyota Motor Corp. employed a total of 2,400 contract workers at the end of 2010, it said. Contract workers are hired under different terms from other employees at Toyota, mainly to make it easier to increase or cut the numbers of workers in response to fluctuating demand for cars.
MUMBAI, India (AP) — India's Tata Motors posted quarterly profit of 19.9 billion rupees ($428.4 million) Tuesday, turning around a loss as reviving global demand for its Jaguar and Land Rover brands made up for rising commodities costs. The company returned to profitability on a consolidated basis for the April to June quarter from a loss of 3.
SAN FRANCISCO (AP) — Whatever Mark Hurd did that cost him his job as CEO of Hewlett-Packard, the world's largest technology company, it wasn't enough to cost him a payday that could top $40 million. Meanwhile, with little still known about why an actress and HP contractor threatened Hurd with a sexual-harassment lawsuit, stockholders took a $9 billion hit Monday, and HP's 300,000 workers were left to wonder about its future.
HONOLULU (AP) — A former B-2 bomber engineer who marketed and sold his stealth expertise to China is facing life in a federal prison following his conviction for bartering U.S. military secrets. Noshir Gowadia, 66, was found guilty Monday on charges that he designed a cruise missile component for China and pocketed at least $110,000, which he allegedly used to help pay a $15,000-a-month mortgage on a multimillion-dollar oceanview home he built on Maui's north shore.
NEW YORK (AP) — Sara Lee Corp. Chairman and CEO Brenda Barnes will step down permanently to focus on improving her health following a stroke, the food maker said Monday. Barnes, 56, had been on temporary medical leave since May 14. She will also leave her position on Sara Lee's board of directors.
DETROIT (AP) — A year after emerging from bankruptcy protection, Chrysler Group LLC said Monday that growing car and truck sales helped it narrow its second-quarter loss to $172 million. The U.S. and Canada are Chrysler's primary markets, and both have seen increased demand for cars and trucks since a recession-related slump last year.
FAIRBANK, Iowa (AP) — Two Fairbank men are dead after the car they were riding in crashed into a natural gas line at an ethanol plant. Authorities say 49-year-old Brad William Higgins died at the scene of Friday's crash. The car's driver, 23-year-old Corey Allen Annis, died Saturday. The Iowa State Patrol says it appears that Annis lost control of the Pontiac Firebird, sending the car into a ditch, where it rolled several times.
Criminologists call it murder by proxy — rampages by employees who go after their boss, supervisors and even co-workers they link to the source of their outrage. The message is: Look who's doing the firing now. These eruptions of workplace violence often occur in similarly brutal ways.
BEIJING (AP) — China's government has ordered 2,087 steel and cement mills and other factories with poor energy efficiency to close as it struggles to cut waste and improve the country's battered environment. The "backward" facilities produce steel, coke, aluminum, paper and other materials in areas throughout China and must close by late September, the Ministry of Industry and Information Technology announced Sunday.
SAN FRANCISCO (AP) — The woman at the center of the sexual harassment claim that forced the resignation of Hewlett-Packard Co. CEO Mark Hurd revealed her identity Sunday and said she is "surprised and saddened" that Hurd lost his job. Jodie Fisher, 50, an actress and businesswoman, knew Hurd through her contract jobs with HP's marketing department from 2007 to 2009.
NEW ORLEANS (AP) — The vast oil reservoir beneath BP's blown-out well could still be worth billions of dollars even after it spewed crude into the Gulf of Mexico for more than three months — but the multinational company blamed for causing the disaster isn't saying whether it plans to cash in on this potential windfall.
ST. PAUL, Minn. (AP) — The Toyota driver convicted in a crash that killed three people has rejected a prosecutor's offer to ask a judge to vacate his sentence and set him free. Koua Fong Lee is serving an eight-year sentence for criminal vehicular homicide in the 2006 crash. He petitioned for a new trial, saying he did all he could to stop his accelerating Toyota Camry before the crash.
TRAVERSE CITY, Mich. (AP) — Eager to get out from under government control, GM expects to sell its stock in one swoop when it offers shares to the public sometime later this year, its CEO said Thursday. Some experts had expected General Motors Co. to sell only a partial stake at first, followed by several smaller sales, but Ed Whitacre told reporters at an auto conference Thursday, "Our anticipation is we'd roll it out there all at once.
EL SEGUNDO, Calif. (AP) — Boeing Co. said Friday it won a contract from British satellite-telecommunications provider Inmarsat to build three communications satellites. Boeing said it was a fixed-price contract with options, but provided no other financial details. The satellites have an expected 15-year life span.
TOKYO (AP) — Bridgestone Corp. returned to profit in the first half and raised its full year forecast Friday amid a recovery in global auto demand that lifted tire sales. The Japanese tire maker, running neck and neck with Michelin SCA of France as the world's biggest, posted a 44.5 billion yen ($517.
MUMBAI, India (AP) — A wheat stockpile in India that could feed 210 million people for a year is starting to spoil because the government lacks enough warehouses to store it — a lightning rod for local discontent that could send ripples through the world market for the grain. According to a government estimate obtained by The Associated Press, 17.
Luxembourg — Dematic, a leading global supplier of integrated material handling solutions and services, announces it has signed an agreement in principle to purchase HK Systems, a North American automated material handling and software solutions provider. The transaction is expected to close sometime in the third quarter of 2010.
BEIJING (AP) — Some 10,000 residents in a southern China town have been told not to drink tap water after tests showed it was contaminated by a heavy metal, a local official said Wednesday. Tests showed the amount of manganese in the water supply to some residents of Da'an town in Guangdong province was much higher than the maximum allowed by the government, said a town official who only gave his surname, Wang.
DOVER, Del. (AP) — The DuPont Co. says it is building a production facility in Virginia that will use new technology to improve the performance of batteries used in electric and hybrid vehicles. The Delaware-based company said Tuesday that the facility in Chesterfield County, Va., will begin production early next year and will produce separators that can increase the performance and safety of lithium ion batteries.
DETROIT (AP) — Summer promotions and easier credit lured shoppers back to car buying last month, a relief to an industry worried about June's sales slowdown. Every major automaker except for Ford and Daimler said their July sales topped those in June. The biggest monthly sales gains were posted by Nissan, Toyota, Volkswagen, Subaru and Kia.