WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke goes to Capitol Hill on Wednesday with a bittersweet message: The economic recovery is taking hold but won't be strong enough to quickly drive down unemployment. Bernanke's out-of-the box thinking during the 2008 financial crisis helped prevent the Great Recession from turning into the second Great Depression.
KANSAS CITY, Mo. (AP) — Federal regulators are set to release the most sweeping antitrust rules covering the meat industry in decades, potentially altering the balance of power between meat companies and the farmers who raise their animals. Activists, farmers and meat industry officials have been anxiously awaiting the new rules, which will be released this spring for public comment and are set to take effect this summer.
WASHINGTON (AP) — Toyota Motor Corp. has suspended sales of the 2010 Lexus GX 460 after Consumer Reports warned car shoppers not to buy the sport utility vehicle because handling problems could lead to rollover accidents during sharp turns. Toyota said Tuesday it had asked dealers to temporarily suspend sales of the SUV while it conducts its own tests on the GX 460.
PITTSBURGH (AP) — A Pittsburgh company that markets food products endorsed by local sports stars has ended its beef jerky sponsorship deal with Steelers quarterback Ben Roethlisberger. PLB Sports president Ty Ballou says Roethlisberger is "falling short" of the company's standards after a Georgia prosecutor announced Monday he will not prosecute the quarterback over sexual assault allegations.
WASHINGTON (AP) — Despite its latest public pushback, China is expected to soon let its currency rise against the dollar, a long-sought goal of U.S. manufacturers. For the U.S., that shift could boost exports and potentially raise the prices of imported Chinese goods. The undervalued Chinese currency has made Chinese goods cheaper for American consumers.
CUMMING, Ga. (AP) — A man working at a manufacturing plant in Forsyth County died Tuesday in an industrial accident after authorities say he became trapped in a machine that polishes heavy gauge metal. Authorities have not identified the 53-year-old man, who Capt. Jason Shivers of the Forsyth County Fire Department says died at the AP Specialty Metals plant on Grassland Parkway.
by Kate Brumback, Associated Press Writer ATLANTA (AP) — One of the world's largest carpet makers has agreed to an $18 million settlement with employees who claimed the company hired illegal immigrants in an effort to reduce wages. U.S. District Court Judge Harold Murphy on Monday granted a motion by employees of Mohawk Industries Inc.
NEW YORK (AP) — Consumer Reports has given the Lexus GX 460 SUV a rare "Don't Buy" warning, saying a problem that occurred during routine handling tests could lead to a rollover accident in real-world driving. In the latest blow to Toyota's reputation, the magazine said that during a test of the vehicle's performance during unusual turns, the rear of the vehicle slid until it was nearly sideways before the electronic stability control system kicked in.
BEIJING (AP) — Chinese President Hu Jintao rebuffed U.S. calls to re-value China's currency, telling President Barack Obama that any tinkering with the yuan will be done by Beijing in accord with domestic interests. Hu defended China's policy of pegging the yuan to the dollar at a Monday meeting with Obama in Washington and said changes to the exchange rate would not come from U.
DETROIT (AP) — Real-world tests show that General Motors Co.'s rechargeable electric car can travel 40 miles on battery power as promised, company engineers said Monday. Engineers are testing six Volts that recently were made on a Detroit assembly line, driving them at the company's proving ground and on roads around Detroit.
WASHINGTON (AP) — Economic stress declined in the nation's most troubled areas in February as unemployment stabilized and the pace of foreclosures eased, according to The Associated Press' monthly analysis of conditions in more than 3,100 U.S. counties. After peaking in January, economic stress dipped in February in half the states and half the 3,141 counties.
POUGHKEEPSIE, N.Y. (AP) — IBM Corp. says it has opened a new $30 million manufacturing facility at its Poughkeepsie, N.Y., site to produce the next generation of mainframes and servers. The Hudson Valley facility officially opened Tuesday and will produce IBM's next line of System z mainframe computers and high-end Power Systems servers.
OLYMPIA, Wash. (AP) — A multimillion-dollar revenue package that increases taxes on bottled water, soda, candy and mass-produced beer was approved by the Washington state Legislature as lawmakers finished their work to plug a $2.8 billion budget deficit. Just hours before the Legislature adjourned the special session, the Senate passed, on a 25-21 vote, the measure that makes up about $668 million of Democrats' nearly $800 million revenue package.
BEIJING (AP) — China announced antidumping duties of up to 64.8 percent on U.S. and Russian steel used by the power industry Tuesday amid a series of disputes with the United States and other trading partners. Investigators also found U.S. producers of flat-rolled electrical steel received subsidies, the Commerce Ministry said.
MIAMI (AP) — Toyota has routinely engaged in questionable, evasive and deceptive legal tactics when sued, frequently claiming it does not have information it is required to turn over and sometimes even ignoring court orders to produce key documents, an Associated Press investigation shows.