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U.S. Auto Factories Cutting Back On Summer Downtime
May 22, 2013 | by Dee-Ann Durbin, AP Auto Writer | Comments
The Detroit automakers are largely forgoing the traditional two-week summer break at their factories and speeding up production to meet buyers' growing demand for new cars and trucks. Ford Motor Co. said Wednesday that 21 of its North American factories will shut for only one week this summer. That includes the Chicago plant that makes the Ford Explorer SUV and the Mexican plant that makes the Fusion sedan.
EU Leaders Discuss Fight Against Tax Evasion
May 22, 2013 2:15 pm | by Juergen Baetz, Raf Casert, Associated Press | Comments
European Union leaders on Wednesday sought to advance their fight against tax fraud and close...
Italy Seizes 1.2B Euros From Steel Family
May 22, 2013 2:13 pm | by The Associated Press | Comments
Milan prosecutors have ordered the seizure of 1.2 billion euros ($1.5 billion) in assets...
Tesla Shows Model S To Influence NC Auto Bill
May 22, 2013 2:11 pm | by Chris Kardish, Associated Press | Comments
North Carolina lawmakers and passersby stopped to take in a display of Tesla Motors' award-...
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Tesla Repays DOE Loan Nine Years Early
May 23, 2013 12:16 pm | by Tom Krisher, AP Auto Writer | CommentsTesla Motors, which makes a highly acclaimed $70,000 electric car, has paid off a startup loan from the U.S. government nine years early. The Palo Alto, Calif., company said it wired in a $451.8 million payment to the government on Wednesday. The money, coupled with two prior payments, paid off a $465 million loan Tesla got from the Department of Energy loan in 2010 to foster development of advanced-technology vehicles.
Ford To End Auto Production In Australia In 2016
May 23, 2013 12:14 pm | by Kristen Gelineau, Associated Press | CommentsFord Motor Co. said Thursday it will close its two Australian auto plants, ending production in the country in 2016, amid soaring manufacturing costs and plummeting sales. The closure of the U.S. automaker's plants in the state of Victoria will mean the loss of 1,200 jobs and will transform the company into an import-only brand in Australia.
Chevy Spark To Be Among Lowest-Price Electric Cars
May 23, 2013 12:12 pm | by The Associated Press | CommentsGeneral Motors Co. says the Spark EV subcompact will be among the lowest-priced electric cars in the U.S. The electric Spark will have a starting price of $27,495 when it goes on sale next month in California and Oregon. GM also is offering a low-mileage lease for $199 per month, with $999 due when the lease is signed.
GM Recalling Cadillac SUVs To Tighten Wheels
May 23, 2013 12:11 pm | by The Associated Press | CommentsGeneral Motors Co. is recalling more than 27,000 Cadillac SUVs worldwide because the wheels can fall off. The company says the recall affects the 2013 Cadillac SRX with 18-inch wheels. Canadian safety regulators say the wheel nuts may not have been tightened enough at the factory.
Survey: China Manufacturing Contracting
May 23, 2013 12:10 pm | by Joe McDonald, AP Business Writer | CommentsA survey shows China's manufacturing contracted this month, adding to signs a fragile recovery in the world's No. 2 economy is slowing. HSBC Corp. said Thursday the preliminary version of its monthly purchasing managers index fell to a seven-month low of 49.6 from April's 50.4 on a 100-point scale. Numbers below 50 show a contraction.
Fire Marshal's Office: Panel Had Blast Site Access
May 23, 2013 12:08 pm | by The Associated Press | CommentsThe State Fire Marshal's Office says a federal safety panel's investigators had access to the site of a Texas fertilizer plant blast that killed 15 people and injured about 200 others. The chairman of the U.S. Chemical Safety Board had asked for congressional help in obtaining evidence under the control of the state agency and the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives.
German Co., Pepsi Open NY Yogurt Plant
May 22, 2013 2:08 pm | by The Associated Press | CommentsA second yogurt plant is about to open in a Genesee County business park. Sen. Charles Schumer says the Muller Quaker Dairy plant will have a grand opening on June 3. The $206 million dollar plant is a joint venture of PepsiCo and Germany's Theo Muller company.
Boeing Examining Speed-Ups On 787, 737
May 22, 2013 2:07 pm | by The Associated Press | CommentsBoeing may accelerate production of two of its most popular planes — the 787 and the 737. It's already doubling 787 production, from 5 per month last year, on its way toward 10 per month by the end of this year. The efficiency of the 787, Boeing's newest plane, has made it very popular with airlines. The company has orders for more than 800 that it hasn't built yet.
Indian Guest Workers Sue Company In MS, TX
May 22, 2013 2:05 pm | by The Associated Press | CommentsDozens of Indian guest workers are suing an Alabama-based marine and fabrication company, claiming it financially exploited them and forced them to live in squalid conditions after bringing them to work at Gulf Coast shipyards after Hurricane Katrina.
Safety Board: ATF Blocking Plant Blast Probe
May 22, 2013 10:27 am | by The Associated Press | CommentsFederal agents and the state fire marshal have effectively barred a federal safety panel from the site of a Texas fertilizer plant blast that killed 15 people and injured about 200 others, hampering its investigation, the panel's chairman said.
Fiat Industrial Considers Making Tax Home In U.K.
May 22, 2013 10:24 am | by The Associated Press | CommentsFiat Industrial is considering moving its tax home to Britain after it completes the merger with its U.S.-based subsidiary CNH. The possible move by the maker of heavy trucks, farm and construction vehicles would be a blow to the new Italian government of Enrico Letta, which is struggling to put public finances in order.
Ex-Ford Execs Charged In Argentine Torture Cases
May 22, 2013 10:21 am | by Michael Warren, Associated Press | CommentsThree former Ford Motor Co. executives were charged Tuesday with crimes against humanity for allegedly targeting Argentine union workers for kidnapping and torture after the country's 1976 military coup. All three were ordered to remain under house arrest on bail of about $142,000 each. Galarraga and Sibilla are Argentines and Muller is described in the indictment as a Czech national.
Apple Case Seen As Possible Spur To Tax Action
May 22, 2013 10:19 am | by Marcy Gordon, Peter Svensson, AP Business Writers | CommentsNow that tech favorite Apple Inc. has been dragged front and center into the debate over the U.S. tax code, lawmakers are hoping that the spotlight on such a high-profile company could be the catalyst for Congress to take action to close loopholes or reform the law.
Tesla Shares Pull Back After Huge Gains
May 22, 2013 10:17 am | by Tom Krisher, AP Auto Writer | CommentsTesla Motors fell more than 5 percent in early trading Tuesday, a brief decline amid huge gains this month after the electric car maker posted its first quarterly profit. And shares in the Palo Alto, Calif., company retook some of that lost ground by early afternoon. Tesla's stock price had jumped 74 percent between May 8, when first-quarter earnings were announced, and May 14, when it hit a 52-week high of $97.12.
GM To Invest $44.5M In MI Cadillac Factory
May 21, 2013 2:22 pm | by The Associated Press | CommentsGeneral Motors says it will invest $44.5 million at a Lansing, Mich., factory, creating 200 new jobs. The automaker says it will build a 400,000-square-foot building next to the Lansing Grand River plant to assemble parts and put them in the right order for manufacturing.
