WASHINGTON (AP) — Seeking to give anxious Democrats a boost ahead of the November elections, President Barack Obama is pitching a trio of economic initiatives Wednesday and voicing unwavering opposition to Bush-era tax breaks for the wealthy. With the tax breaks for the top two percent of income earners set to expire at the end of the year, the White House sees the issue as an opportunity to draw a stark contrast with Republicans.
NEW ORLEANS (AP) — Oil giant BP PLC laid much of the blame for the rig explosion and the massive Gulf of Mexico spill on itself, other companies' workers and a complex series of failures in an internal report released Wednesday before a key piece of evidence has been fully analyzed. In its 193-page report posted on its website, the British company described the incident as an accident that arose from a complex and interlinked series of mechanical failures, human judgments, engineering design, operational implementation and team interfaces.
BEIJING (AP) — Chinese steel mills and mobile phone factories are being idled and thousands of homes in one area are doing without electricity as local governments order power cuts to meet energy-saving targets set by Beijing. Rolling blackouts and enforced power cuts are affecting key industrial areas.
NORTHWOOD, Ohio (AP) — An explosion at an auto parts plant in northern Ohio has injured nine people. Authorities just outside Toledo say all the injuries appear to be minor. The explosion happened Tuesday morning at Faurecia (fahr-SEE'-uh) Interior Systems in Northwood. The company makes doors for a nearby Chrysler plant.
Taiwanese investigators raided a local company after it shipped banned machinery to North Korea via a Chinese firm with ties to Pyongyang's military, a Taiwanese official said Tuesday. The owner of the Taiwanese company, Ho Li Enterprises, said that two computer-controlled machine tools used in the manufacture of engines were shipped to North Korea earlier this year, but said he was unaware he had broken the law.
SEOUL, South Korea (AP) — The top executive at Kia Motors has resigned after the company recalled more than 100,000 vehicles worldwide over defective wiring, the automaker said Tuesday. Chung Sung-eun, vice chairman and CEO of South Korea's No. 2 automaker, stepped down on Friday, according to company spokesman Michael Choo.
KANSAS CITY, Mo. (AP) — A groundbreaking ceremony is scheduled this week at the site of a privately developed plant in south Kansas City where non-nuclear parts for nuclear weapons will be built. The facility being built for Honeywell Federal Manufacturing & Technologies will employ 2,100 people and replace the current Honeywell plant at the Bannister Federal Complex, also in south Kansas City.
NEW YORK (AP) — American workers faced a sobering reality as they celebrated the U.S. holiday of Labor Day at a time of high unemployment, scant hiring and a widespread loss of job security: economists foresee fewer moderately paid factory supervisors, postal workers and office administrators.
WASHINGTON (AP) — President Barack Obama will call on Congress to pass new tax breaks that would allow businesses to write off 100 percent of their new capital investments through 2011, the latest in a series of proposals the White House is rolling out in hopes of jump-starting economic growth ahead of the November elections.
WASHINGTON (AP) — Wright County Egg and Hillandale Farms, the two Iowa farms at the center of a salmonella outbreak and massive egg recall, have been visited by federal agents again. Spokeswomen for the farms said the agents who arrived Tuesday worked for the Food and Drug Administration.
NEW YORK (AP) — Harley-Davidson Inc.'s main ad agency for more than three decades has dropped the struggling motorcycle maker in favor of new business. Ad agency Carmichael Lynch, a unit of Interpublic Group, said many factors went into the decision, including the fact that the Milwaukee-based motorcycle maker has slashed its marketing spending in recent years amid slumping sales.
PITTSBURGH (AP) — H.J. Heinz Co.'s fiscal first-quarter net income jumped 13 percent, largely on stronger sales in Asia. The foodmaker best known for its signature ketchup said Wednesday that it earned $240.4 million, or 75 cents per share, for the quarter that ended in late July. That's up from $212.
SHANGHAI (AP) — Chinese manufacturing growth improved and auto sales rebounded in August, suggesting the world's second-biggest economy may not be slowing as quickly as feared. Two surveys released Wednesday showed production, new orders and purchasing prices all rose in August, with the HSBC purchasing managers index — a seasonally adjusted index designed to measure the performance of the manufacturing economy — rising to its highest level in three months, at 51.
LOS ANGELES (AP) — Hyundai Motor America said Tuesday it will shift manufacturing of its Santa Fe SUV beginning this fall from its plant in Alabama to one in Georgia run by Kia Motor Manufacturing, a move aimed at boosting production of Hyundai's popular Sonata sedan. The automaker plans to increase production of the Sonata at the plant in Montgomery, Alabama, said Hyundai Motor America spokesman Chris Hosford.
FRANKLIN, Ind. (AP) — The family of a woman who died after a pallet of bottled water fell on her at a Kroger store in central Indiana is suing the water bottler, arguing a new eco-friendly bottle design might have contributed to the accident. The lawsuit filed by the husband of 32-year-old Lori Keen is pending in federal court in Indianapolis.
ROACH DRY LAKE, Nev. (AP) — Not a light bulb's worth of solar electricity has been produced on the millions of acres of public desert set aside for it. Not one project to build glimmering solar farms has even broken ground. Instead, five years after federal land managers opened up stretches of the Southwest to developers, vast tracts still sit idle.
WASHINGTON (AP) — The Department of Justice says Hewlett-Packard has agreed to pay $55 million to settle claims it paid kickbacks to companies so that they would recommend its products to federal agencies. Hewlett-Packard Co. has already announced earlier this month it will take a charge of 2 cents per share in the third quarter to settle the claims.
DETROIT (AP) — For years, Americans shopping for cars were treated to all sorts of deals and incentives, especially at the end of summer. Think Cash for Clunkers, which paid up to $4,500, or promotions that offered employee discounts to everyone. Those days are over. Deals are getting more scarce because automakers, newly lean and profitable, are holding the line on those profit-eating promotions.
WASHINGTON (AP) — Analysts say the Obama administration, under congressional pressure to take a tough stance on Chinese trade policies, is expected to declare that China unfairly helped its aluminum industry. The finding, which could spark higher import duties, was anticipated Tuesday as the White House attempts to strike a delicate balance ahead of November congressional elections that will be dominated by the weak U.
OMAHA, Neb. (AP) — Somali Muslim workers at a meatpacking plant in Grand Island were denied prayer time and faced harassment and even termination for asking to pray, according to a lawsuit filed Monday by the federal Equal Employment Opportunity Commission. The lawsuit filed on behalf on more than 80 Somali Muslims says JBS Swift & Co.