WASHINGTON (AP) — Hiring is anemic but corporate profits are up, and President Barack Obama is having 20 CEOs over to talk about how to tap that cash to boost jobs. But don't count on the president to reprise the "fat cat" scolding he gave bankers a year ago. No, this is not a woodshed moment.
WASHINGTON (AP) — U.S. factory output grew for the fifth straight month, adding to evidence thatmanufacturing remains an engine of economic growth. The Federal Reserve says output by the nation's factories, utilities and mines increased 0.4 percent in November, after falling 0.2 percent in October.
NEW YORK (AP) — General Electric Chief Executive Officer Jeff Immelt said Tuesday he expects the company to deliver "substantially" higher profits in 2011, driven by growth in its industrial division and in China. Revenue in GE's industrial division, which makes everything from windmill turbines to ventilation fans, is expected to grow after being flat in 2010, Immelt said.
BEIJING (AP) — Authorities have rescued a group of mentally ill workers enslaved in a factory after being sold by a man who purportedly ran a beggars' shelter, state media reported Wednesday. Police on Tuesday nabbed Li Xinglin, the boss of the building materials factory in the far-western Xinjiang region who had fled Sunday after Chinese media reports exposed the plant's working conditions, the official Xinhua News Agency said.
FLINT, Mich. (AP) — The winter storm pushing through the Midwest forced General Motors Co. to temporarily halt production at its Flint Truck Assembly plant. GM says it sent workers home at 10:30 a.m. Tuesday because of a parts shortage. Hazardous roads in Ontario have closed the Blue Water Bridge between Port Huron, Mich.
BEIJING (AP) — China plans to raise tariffs on some rare earth exports starting next year in a move to limit shipments of the precious metals out of the country, state media said Wednesday. The Ministry of Finance issued a statement saying some rare earth products will have export duties increased beginning Jan.
BEIJING (AP) — A Chinese official said Tuesday that authorities were on their way to rescue a group of mentally ill workers who state media reports said were enslaved in a factory and given dog food to eat. The official with the civil affairs bureau in Qu county in the southwestern province of Sichuan said authorities took a flight early Tuesday to the western region of Xinjiang.
WASHINGTON (AP) — Toyota Motor Corp. said Monday it will recall nearly 100,000 Sienna minivans from the 2011 model year to replace a switch bracket on the brake lamp that could cause the brake lights to stay on. The Japanese automaker, which has grappled with several safety recalls during the past year, said a driver's foot could hit the switch bracket and deform it while applying the parking brake pedal.
DHAKA, Bangladesh (AP) — A devastating blaze raced through a multistory garment factory near Bangladesh's capital on Tuesday, killing as many as 25 people and injuring more than 100, witnesses and news reports said. Fire official Golam Mostafa said the fire started in a 10-story factory owned by local business giant Hameem Group in the Ashulia industrial zone, just outside Dhaka.
ST. PETERSBURG, Florida (AP) — Dozens of helicopters are whirring above Florida's valuable and sensitive veggie crops, an unusual approach by farmers worried that an uncommon freeze could wipe out their harvests. The choppers hover low over green bean and sweet corn fields, moving back and forth in the early morning hours to push warmer air closer to the plants — and, the farmers hope, save the plants from a deadly frost.
CARTHAGE, Mo. (AP) — A judge has ruled that a lawsuit against the owners of a southwest Missouri plant that caused odor complaints will be allowed to proceed. The lawsuit filed in 2007 by Carthage residents against Renewable Environmental Solutions had been stayed since 2009, when the parent company of RES declared bankruptcy, closed the plant and laid off its employees.
TOKYO (AP) — Nissan Motor Co. and smaller rival Mitsubishi Motors Corp. will deepen business ties to get ahead in the fiercely competitive global car industry, including establishing a minicar joint venture in Japan that could eventually expand to other countries. In the agreement announced Tuesday, the two Japanese automakers will also make more cars for each other under what is known as an "original equipment manufacture" or OEM partnership.
DETROIT (AP) — General Motors Co. is offering buyouts to several thousand skilled trades workers at 14plants around the U.S. The company estimates it has 2,000 more skilled trades workers than it needs right now. Skilled trades workers do jobs that need special training, like electrical work and welding.
RICHMOND, Va. (AP) — Among the many modern comforts we all enjoy, the humble drinking straw perhaps gets too little attention. Few people — when they pop a straw into a carton of juice or milk — think about the source of that deceptively simple piece of plastic, or what it takes to make one.
COLOMIERS, France (AP) — The global aircraft industry will recover faster than expected, according to European manufacturer Airbus, which on Monday predicted about $3.2 trillion (euro2.4 trillion) in new passenger and freighter planes will be needed over the next 20 years. The figure translates to nearly 26,000 aircraft, up from its earlier forecast for 25,000.
HUNTSVILLE, Ala. (AP) — Toyota says its on track to add 250 jobs at its Huntsville plant next summer, when the automaker plans to expand its production of engines. Mark Brazeal, general manager of administration for Toyota Manufacturing Alabama, says the plant received more than 10,000 applications for the new jobs and is in the process of hiring workers.
NEW YORK (AP) — Thermo Fisher Scientific Inc. said Monday it will buy laboratory equipment maker Dionex Corp. for $2.1 billion. The scientific instrument maker said the deal will expand its business in the Asia-Pacific region and help it do more business in industries such as environmental analysis, water testing, and food safety.
Job gains around the country offset higher foreclosures and helped reduce the nation's economic stress in October to an 18-month low, according to The Associated Press' monthly analysis. Stress fell in 56 percent of the roughly 3,100 U.S. counties analyzed and in 28 of the states, the AP's Economic Stress Index shows.
NEW YORK (AP) — The founder of Vitesse Semiconductor Corp. and a former executive vice president of the company have been indicted on securities fraud charges. Authorities said Friday that Vitesse founder Louis Tomasetta (Tahm-ah-SEHT-uh) and Eugene Hovanec (HOH-vah-nehk) were charged in federal court in Manhattan with making false filings to federal regulators and conspiring to manipulate the public company's financial statements.
SANTA ANA, Calif. (AP) — A federal judge who said he's inclined to let personal injury and wrongful deathlawsuits against Toyota Motor Corp. move forward heard arguments Thursday from Toyota attorneys hoping to dissuade him. U.S. District Judge James V. Selna issued a preliminary opinion Wednesday denying the automaker's motion to dismiss key causes of action in 51 lawsuits.